Rules of Succession in Wealth Management

Overview
Objectives & Outline
Methodology
Participant Profile
Trainer

Overview

Programme Details
Date
13 September 2023
Time
9:00 AM – 5:00 PM
Venue
Online (Zoom)
HRDC PROG NO
10001292136
In an evolving industry, wealth management and financial professionals are constantly looking for the right practice model to engage their clients who are mainly business owners and high net worth individuals. This one-day programme is designed to equip aspiring wealth managers and personal finance professionals with the necessary know-how and skills to carve out advice and services by focusing on asset protection and preservation planning as well as family business succession planning.
Learning Level
Intermediate
Programme Fees*
AICB MEMBER
MYR
1,700
/ PAX
NON-MEMBER
MYR
2,000
/ PAX
*Subject to 6% Service Tax
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Objectives & Outline
LEARNING OBJECTIVES
By the end of the programme, participants will be able to:
Establish the financial risks and shortcomings of retail customers
Analyse the risk management and estate planning issues of customers through in-depth understanding of their personal situation
Provide direction to customers for the use of risk management and wealth management tools to reduce personal risks and asset preservation shortcomings
Develop a plan to assist customers in managing their wealth and financial plans
PROGRAMME OUTLINE
How succession planning will benefit clients and their business
Laws that deals with matters pertaining to a person and his/her family
Assets, Property Ownership and Transfers
Marriage, Divorce and Succession
The basic rules of residence and domicile
Wealth Distribution Process

Contracts and Nominations
Nominations
Lasting PA Appointments
Business succession issues and planning

The uses of estate planning tools in asset protection and preservation
The law, formalities and general principles of will making
The legal processes involved in probate and administration
The role of executors and administrators
Trust companies as executors and administrators
The valid creation of a trust
How a trust differs from other wealth holding vehicles
The different types of trust interest which a beneficiary can have

Will and Declaration of Trusts
How a trust is created in a Will
Benefits of using trusts in a Will
The differences between the use of living trusts and Will trusts
Case studies & questions
Methodology

Lecture, discussion and case studies
Participant Profile

Suitable for anyone wanting to become better informed about wealth management and personal financial planning tools, including for personal and private bankers, wealth managers, financial advisors, accountants, risk managers, compliance officers and others who are keen to learn about succession planning of individual wealth
Trainer

Wong Loke Lim
Loke Lim has almost thirty years of banking and finance-related experience. Currently, he is the principal of i-Biz Concept Sdn Bhd, a financial training and management resources provider. He is also a director of a Bursa Malaysia-listed company and sits on the Board of Governors of the Financial Planning Association of Malaysia, where he was the Deputy President from 2011-2013. Previously, he was the Chief Executive/Licensed Representative of a fund management company, a general manager at KAF Investment Bank Berhad and the Group Chief Internal Auditor of a KLSE (now Bursa Malaysia)-listed company. He speaks regularly on topics relating to capital markets, treasury, accounting and wealth management, and conducted training programmes for capital market professionals, private bankers and wealth managers in various financial centres in the Asia-Pacific region. He is a chartered accountant, a fellow of the Association of Chartered Certified Accountants and a Certified Financial Planner.

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