You might be a new investor and just entering the money markets. You are looking for ways or parties to help you with your money so that you know where to invest and how.
Seeking help with your investments
When it comes to money, you can never be too careful because you do not want your hard-earned money to go to waste. You could be investing with a lump sum or have a consistent monthly amount to work with, but if you are taking advice from the wrong party, the consequences could be tragic. So, where should you get your investment advice from?
Legitimate investment advice
A lot of Malaysians tend to get advice from their friends on a good share to buy or a good platform to put their money into. Such advice might sound harmless when you hear them but they are against the law. If you are going to get any form of advice on where to invest, you should get them from one that is registered with the SC (Securities Commission) of Malaysia.
The begging question really is would you be breaching any regulation if you are getting advice from social media? The SC has put out a Guidance Note on Provision of Investment Advice to clear these doubts.
When it comes to financial advice, you can take it off-hand from someone you know or an experienced investment friend but whichever source you take, if you are induced to take any action that can drive you to invest, then the regulations will come into play. This can involve any form of instrument, sector or market that deals with money.
Tip for investors
Malaysians like to talk about investments over a cup of Teh Tarik or coffee. While all that is well and good, you should always take such advice with a pinch of salt as there will be no accountability if your investments go south. There are also companies that are registered with SC under its List of Registered Recognised Market Operators and Public Register of Licensed Holders who could give sound financial investment advice to choose from. Check them out before you throw any money into investments.