WCEI Academy founder Dr Stephen Choo with American business magnate, investor and philanthropist Warren Buffett at the Berkshire Hathaway annual shareholders meeting in 2019. Buffet is chairman and CEO of Berkshire Hathaway.
FINANCIAL intelligence is crucial for your future. You need to be smart in financial planning, budgeting, investing, managing your debts, handling financial risks, and saving for a rainy day. With proper knowledge of the principles of money management, you will know how to attract abundance and wealth to your life. As such, acquiring financial intelligence will be able to guide you in your decision-making process.
WCEI Academy founder Dr Stephen Choo, a passionate advocate of financial education, has initiated a strategic alliance with Genovasi University College (GUC) to promote financial intelligence education in Malaysia.
Dr Choo, who is one of Asia’s leading coaches in financial intelligence, has vast experience in giving lectures on finance and finance skills. His online financial education classes which were started during the MCO period have received encouraging responses from students from 10 countries, including Hong Kong,
Myanmar, Singapore and Indonesia.
Dr Choo, who has a PhD in Business Administration from US-based Apollos University, shares that he was fortunate to learn from the world’s financial elite, of which the list of illustrious individuals includes renowned business tycoon Warren Buffet, “Rich Dad, Poor Dad” author Robert Kiyosaki, former US president Barack Obama, University of Pennsylvania’s Wharton School adjunct professor of finance Christopher Geczy, among others. This has inspired him to share financial wisdom and knowledge with others to live a prosperous life.
Dr Stephen Choo (second from left) shaking hands with GUC executive director Prof Dr Thomas Leong after the MoU signing to embark on the financial intelligence programme. Present were WCEI director Elven Choo (left) and GUC deputy vice chancellor (commercialisation) Prof Dr K. Puniamurthy.
Strategic partnership
WCEI Academy and GUC’s School Of Continuing and Professional Education (SCOPE) have signed a memorandum of understanding to boost financial intelligence education in Malaysia.
The MoU signing event also saw the launch of the Department of Financial Quotient and Intellectual Property (DFQIP) under SCOPE. Established in 2019, WCEI provides financial education to a wide demographic, from children to seniors. According to Dr Choo, the academy has trained over 100,000 professionals, fostering sound financial values and aiding strategic life planning. SCOPE, through its training arm the Centre of Higher Learning, partners with training providers to deliver professional and industrial programmes to industry players as well as the public.
WCEI Academy and GUC will jointly introduce professional certification in financial quotient (financial IQ), and aims to provide students with the latest, comprehensive and systematic education in financial intelligence.
‘We want people to be able to make smart decisions about money, and know how to retain money longer,’ says Dr Stephen Choo.
“We want more people to learn about financial literacy. We want people to be able to make smart decisions about money, and know how to retain money longer.
“Everyone wants to make investments but they need to learn how to (in a proper way),” said Dr Choo, who is also the newly appointed DFQIP dean, at the MoU signing at the GUC premises in Petaling Jaya. Dr Choo signed on behalf of WCEI Academy while GUC executive director Prof Dr Thomas Leong represented the varsity.
“Financial intelligence is not just an abstract concept for industry professionals or the elite. It is a fundamental life skill that every individual should have,” Dr Choo said.
“It is a stepping stone towards financial stability and independence, facilitating informed decision-making that can positively impact not only an individual’s life but also the collective wellbeing of communities and societies.”
He explained that the partnership to develop the professional certification in financial intelligence was because “we believe that financial literacy is essential for individuals to navigate the complexities of the modern financial world.”
“By enhancing their financial quotient or financial IQ, individuals can make informed decisions, manage their finances effectively, and achieve financial freedom,” he said. WCEI Academy and GUC have come up with a comprehensive plan to promote the professional certification in financial intelligence to their students.
This collaboration is expected to have a significant impact on the global Chinese community.
“Our strategy includes targeted marketing campaigns, partnerships with educational institutions and industry organisations, engaging with the media to raise awareness,
and leveraging digital platforms to reach a wider audience.
“We aim to ensure that individuals who are interested in enhancing their financial intelligence are aware of the certification and the benefits it offers,” he said.
He said the financial literacy programme is open to all students, “including those who did not complete their formal studies.”
“We welcome individuals from all backgrounds, including professionals from finance, insurance, and related industries, entrepreneurs, students, and anyone who is interested in improving their financial knowledge and skills.
“Financial intelligence is applicable to individuals across different stages of life and professions.”
Dr Choo said that for the programme, while he would focus on building financial skills such as how to invest your money, professionals such as accountants and lawyers would be roped in to impart knowledge on relevant subjects such as accounting,
taxation and financial law.
GUC certification WCEI Academy and GUC will jointly develop the professional certification programme in financial intelligence, covering various areas such as personal branding, financial planning, tax planning, investment courses, and business management.
“Our programme – which would be offered as short-term and long-term courses – will be delivered both online and in physical classrooms at our academy’s locations in Kuala Lumpur, maybe later in Penang and Johor. This approach allows flexibility for students to access the courses and materials according to their preferences and schedules,” he said.
The syllabus will be incorporated by GUC into its curriculum, which will issue the professional certification to students who sign up for the financial intelligence programme.
“We understand the significance of financial intelligence in today’s rapidly changing world, and we are committed to providing timely access to this programme to meet the needs and aspirations of our students,” said Prof Dr Leong.
‘We want this new professional certification to empower individuals with the knowledge to excel in the financial domain,’ says Prof Dr Leong.
“We want this new professional certification to empower individuals with the knowledge and skills needed to excel in the financial domain.
“We aim to equip them with a strong foundation in financial intelligence, enabling them to make sound financial decisions, manage risks effectively, and achieve their financial goals.
“We will actively engage with industry experts, renowned practitioners, and relevant organisations to ensure that the programme curriculum remains up-to-date, practical, and aligned with industry standards.
“Collaborations will also involve providing students with opportunities for internships, networking, and exposure to real-world financial scenarios,” he said. Enhancing employability
The WCEI-GUC partnership holds immense promise for enhancing employability and increasing employment opportunities.
Students who obtain the professional certificate can unlock job opportunities within WCEI’s associated companies, among them licensed trustee companies in Malaysia and a licensed financial service provider at the Labuan International Business and
Financial Centre (IBFC), said Dr Choo.
“We’re not only improving financial literacy but also making a significant contribution to societal advancement by boosting job prospects and economic prosperity,” he said.
For more information, go to www.wceiacademy.com or www.genovasi-scope.edu.my