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Should you get professional investments advice? Or should you D-I-Y (do-it-yourself)?

 

On your personal investment journey, you’ll be faced with the choice of either taking guidance from a licensed professional or being your own advisor. Find out what financial advisors can do for you, whether you need one, and how you can safely and securely take the D-I-Y approach.

 

What does a financial advisor do?

A financial advisor is someone with the appropriate qualifications to manage your wealth, offering advice on all kinds of money matters. Financial planners serve a similar purpose, focusing especially on helping clients to plan their finances to achieve their goals. Financial advisory spans across a range of financial areas such as insurance, investments, savings, and assets.

 

A professional, qualified financial advisor must be recognised by the Securities Commission and Bank Negara Malaysia. They must hold the Capital Market Service Representative Licence and Financial Advisor Representative Licence, in addition to product-specific licenses such as the Corporate Unit Trust Advisor Licence.

Do I need a financial advisor? How much will it cost?

Financial advisors can guide you to make the sound investments at the opportune time and avoid costly mistakes. Through their invaluable experience and understanding of financial markets, they can help you grow your wealth in accordance with your risk appetite.

 

If you’re hard pressed for time, entrusting your investments to the good judgement of an independent fiduciary advisor could be a rewarding use of your resources. However, the cost of such an advisor may go upwards of several thousand Ringgit. So, if your portfolio is not very complex, you could consider saving that money by managing your own portfolio. However, D-I-Y investing requires fierce commitment in monitoring your portfolio persistently. 

How can I invest without a financial advisor?

There are plenty of options for investors who want to take charge of their wealth. A variety of reliable tools help you to make informed investment decisions without the help of a financial advisor. Our very own CIMB Clicks is a one-stop online account through which you can easily invest and trade in different instruments such as unit trusts, eIPO, and ASNB. It not only allows you to manage your money through your savings and current accounts but also to grow it. On top of that, CIMB Clicks’ trading account offers preferential brokerage fees compared to phone orders for share trading! To register for CIMB Clicks, click here.

 

When it comes to D-I-Y investments, you should first determine your risk appetite and try to segregate the options that deliver steady returns and options that are more market-linked. Research is crucial to make sound investments. Many self-made investors have achieved financial success from diligently doing their homework, maintaining a diversified mix, and generally following the golden rules of investment. Additionally, familiarise yourself with these red flags and pitfalls to avoid falling victim to sketchy investments. Luckily, you can be assured that the investment products available via CIMB Clicks are all verified and legitimate assets.

 

 

This article is brought to you by CIMB as part of our ongoing efforts to raise the level of financial literacy among Malaysians. Financial knowledge and understanding are key to making well-informed and meaningful financial decisions that will improve all our well-being. This, in turn, achieves CIMB’s purpose of advancing customers and society.