KUALA LUMPUR, 16 February 2017: – To enable Malaysians to enjoy an elevated standard of retirement, accessibility to care services and financial planning services will be boosted in a joint initiative by Managedcare Sdn Bhd (“Managedcare”), a wholly-owned subsidiary of Aged Care Group Sdn Bhd, and FA Advisory Sdn Bhd, a member of the Singapore-based Financial Alliance Group.
The Memorandum of Understanding (“MoU”) was inked to achieve the shared vision through mutual promotion and referrals of relevant services and products relating to finance and care. The public will benefit through education and advocacy activities from both parties that will lead to human-centred retirement and purposeful long-term care plans.
The collaboration seeks to address the nation’s ageing demographics and promote the urgent need for holistic planning that takes long term care into account with proper financial planning. The aim is to bridge the gap and bring to the market financial planning services that encompass care administration services with long term care planning.
As the Care Administrator, Managedcare will ensure that the quality of care received is in sync with the client’s health and long-term care plan. As a one-stop care platform, they will coordinate, monitor and administer a variety of healthcare and service provisions to ensure optimum value of care for the clients’ overall wellbeing.
“What we do in our care is by adopting a person-centred approach. This means we make sure that all of our products and services fulfils the physical, emotional, mental, social and financial part of the person as all of these parts are inter-related.” Says Carol Yip, CEO of Managedcare Sdn Bhd.
As the financial planner, FA Advisory will structure the financial aspect based on its tried and tested advisory mode l ̶ the Five Pillars of Wealth. The model addresses wealth protection, wealth maintenance, wealth accumulation, wealth enhancement and wealth distribution, so it comprehensively covers all the essential elements of an individual’s financial planning needs. With this extraordinary model, an integrated solution for a fulfilling retirement plan is developed.
“We see the synergy between Managedcare and FA Advisory because one of our shared aspect is retirement planning. Malaysia is an ageing population, but many do not see the urgency of this due to many financial obligations in other areas. However, this is as important because many surveys have shown Malaysians are not saving enough for retirement.” Says Tang Khan Loon, Director of FA Advisory Sdn Bhd.
Both Managedcare and FA Advisory urge Malaysians to start planning now in order to enjoy a decent post retirement lifestyle, especially when it comes to having sufficient funding for their long term care needs. As an ageing population, the imminent growth of the retirement and aged care industry makes it an attractive endeavour.