Keynote Address at FPAM Annual Signature Financial Planning Symposium 2026
Speaker: Shahrul Amry Bin Abd Malek, Executive Director, Market Development
Location: Kuala Lumpur Delivered: 20 May 2026
Salutations Mr Alvin Tan, President of FPAM Ms Eunice Chan, Chairperson-Elect of the Financial Planning Standards Board (FPSB) Ms Lisa Lee, Vice President of the Financial Planning Association of Singapore Board of Governors, Financial Planning Association of Malaysia Members of the media Ladies and gentlemen
Introduction
A very good afternoon.
I would like to congratulate FPAM on organising this year's Annual Signature Financial Planning Symposium. The theme “Bridging the Gap: From Blueprint to Reality” is a fitting theme. In financial planning, as in policy, the distance between a well-designed plan and a real outcome in someone's life is where the hardest work happens.
This is of course deeply relevant to your profession, the value of a financial planner lies precisely in ensuring that the plans you craft for your clients are ones that are understood, owned, and ultimately lived.
But this theme resonates equally with the work we are doing at the SC. Malaysia has a well-developed capital market, strong regulatory frameworks, and an ambitious five-year roadmap in the Capital Market Masterplan 2026 – 2030 (“CMP”). The question we ask ourselves is the same one this symposium poses - are these blueprints translating into better financial outcomes for ordinary Malaysians? This morning, I would like to share our perspective on that question and speak to a few areas where the SC believe financial planners have an indispensable role in bridging that gap.
Ladies and gentlemen,
The CMP sets out a bold roadmap for Malaysia's capital market built around four pillars - vibrancy, inclusivity, sustainability, and regional opportunity. For the financial planning community, the inclusivity pillar is of particular relevance, speaking directly to financial literacy, access to innovative products, and building financial security for retirement.
Within this pillar, one of our most important initiatives is what we call “Empowering Investors” with the objectives to democratise capital market access by ensuring Malaysians have the right products, education, and advisory support to participate meaningfully.
This includes through lowering barriers, launching targeted digital literacy and awareness programmes as well as encouraging innovation in investment products, trading instruments and structures to make retail participation more affordable and accessible.
Digital channels are central to this effort. Malaysians are increasingly connected, financially active online, and accustomed to receiving information through their phones. Yet capital market literacy, despite recent improvements, remains uneven and the gap between what Malaysians know about risk and what they understand about how wealth is built remains wide. This is where financial planners, armed with digital tools and platforms, are uniquely positioned to make a difference. Through targeted content, platform partnerships, and outreach that explains not just what products are available but why long-term investing matters, FPAM and its members can play a far greater role in translating digital reach into genuine financial capability.
One development worth highlighting in this space is the growing influence of finfluencers on social media. Their reach is significant, and when used responsibly, they can be a powerful force for financial education and awareness. However, this influence also carries risk. The SC has observed instances where investment-related content crosses the line from education into advice, and when that happens without the appropriate licence, investors may be misled or exposed to harm.
The SC has clarified that individuals who provide investment advice, including through social media platforms, are required to hold an Investment Adviser licence under the Capital Markets and Services Act. We encourage FPAM members to be aware of this boundary in their own digital outreach, and to see it not as a constraint but as a mark of the professionalism that distinguishes qualified financial planners from unregulated voices online. In a landscape where scams and misinformation are increasingly prevalent, that distinction matters more than ever.
Promotion Capital Market Participation Through ETFs
Ladies and gentlemen,
In addition to awareness, participation in the capital market is an area that needs greater attention. Data from a recent study by the Malaysian Financial Planning Council (“MFPC”) tells us that most households invest defensively and in small amounts. At the same time, the rising cost of living is squeezing the financial headroom that households need to invest.
In this environment, cost-effective investment solutions are not just desirable, they are essential. Exchange-traded funds, or ETFs, are one such vehicle. They offer diversified market exposure at low cost, with the transparency and liquidity of exchange-listed instruments.
Notably, Malaysia has earned several world firsts in this space, including the world's first Shariah physically gold-backed ETF, the first Shariah ETF in Asia, the world's first Shariah ASEAN ETF, and the world's first waqf-featured ETF. These are not just milestones. They reflect Malaysia's genuine leadership in Islamic capital market product innovation, and a growing range of accessible, values-aligned investment options for investors looking for Shariah compliant investment options.
Most recently, the SC has also developed the ETF framework to facilitate the region's first Shariah-compliant digital currency ETF. This is a further demonstration of Malaysia's commitment to innovation at the frontier of Islamic capital market product development.
Yet, innovation alone is not enough. New products only create impact when investors understand them and are able to access them meaningfully. We need financial planners, and associations like FPAM, to champion these products to clients, particularly to younger and lower-income investors who stand to benefit most. In this regard, the SC would welcome ideas from the financial planning community on how we can collectively increase awareness and take-up of ETFs.
Strengthening Retirement Preparedness
Ladies and gentlemen
Another area is retirement. And it is perhaps the most consequential as Malaysia continues to face a significant retirement adequacy gap. Many members approaching retirement age hold savings far short of what is needed for a comfortable retirement, and reliance on EPF as the sole retirement vehicle remains high. At the same time, awareness of complementary retirement savings options, particularly PRS, remains low. The risk of retirement inadequacy is real, and it is not well understood by the very people most exposed to it.
The SC remains committed to strengthening the PRS framework. Through CMP, we are working to expand the investment universe available to PRS members, including direct access to Bursa-listed ETFs and equities, giving members greater choice and the potential for better long-term returns.
But a stronger framework only delivers if Malaysians know it exists and understand why it matters.
This is where financial planners must step up. Conversations about retirement, the compounding cost of starting late, and the role of PRS as a meaningful complement need to happen earlier and more consistently.
The Islamic PRS segment in particular merits attention. As of April 2026, 74% or 34 Islamic PRS funds outperformed both ASNB and EPF over three years indicating that Shariah-compliant PRS funds a genuinely competitive option. Financial planners serving have a compelling case to make, and we encourage them to make it more actively.
Conclusion
Ladies and gentlemen,
As I conclude, I want to return to the theme that brought us together today, bridging the gap from blueprint to reality. The SC has set out its blueprint in CMP. The frameworks are being built, the products are being developed, and the infrastructure is being put in place. But blueprints only become reality through the people who implement them and in the financial planning space, that means you.
The themes we have discussed today, from empowering investors, expanding financial awareness, promoting capital market participation, and strengthening retirement preparedness are interconnected. They point to the same underlying imperative: that Malaysians must be better equipped to build long-term financial resilience. The SC can create the conditions, but it is financial planners who sit across the table from clients, who have the conversations that change financial behaviour, and who ultimately determine whether policy intent translates into household outcomes.
The SC remains committed to working industry to build a capital market that works for every Malaysian. I hope today's discussions will be fruitful, and that you leave with ideas and resolve to carry this work forward. Thank you.
The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.
