In Kuala Lumpur, the average salary for a financial planner is MYR 123,027 per year. This salary is calculated based on a salary survey conducted by ERI, which uses real-time data from commercially available sources to calculate average salaries. This salary estimate includes bonus payments of up to RM4,576. The compensation ranges from RM59,921 for an entry-level financial planner to RM133,432 for a senior-level financial planner.
Financial planner salaries in Malaysia are higher than in other countries. As the country’s population is growing, there are more job openings in the field. The number of financial planning firms has increased as well, from 39 in 2014 to 43 last year. The number of financial planners in Malaysia has also risen from 500 five years ago to 833 in 2018.
In Malaysia, there are approximately 77,000 insurance agents and 60,000 unit trust agents, but only 2,590 certified financial planners. This is because the profession is relatively new in the country. However, there is a large untapped market for financial planners. It is also possible to become a paraplanner.