Setting the stage to promote financial literacy in Malaysia

Kuala Lumpur, 21 March 2022 – Financial planning firm Advisonomics is proud to partner with the Malaysian Medical Association (MMA) in the effort to assist medical professionals to increase their financial awareness and improve financial literacy.

This brand new venture is a multi-faceted initiative that will offer free financial literacy training to the medical professionals in appreciation of their service and dedication throughout the COVID-19 pandemic, while also providing them invaluable help in planning their financial future.  

“MMA members will be able to access Advisonomics’ financial literacy programme via our soon-to-be-launched app Cashku which will be integrated with the MMA app,” says Advisonomics co-founder Raevendren Ramachandran.

Meanwhile, MMA President Dr Koh Kar Chai says, “We are delighted to partner with Advisonomics in this venture. Our goal is to improve the financial literacy of medical professionals and help our members to become financially savvy.”

Bringing invaluable years of experience and investment acumen to the table, Advisonomics founders Raevendren Ramachandran and Asgari Stephens are passionate about improving financial literacy among Malaysians.

(From Left) Raevendren Ramachandran & Asgari Stephens
the Co-Founders of Advisonomics

“There is a distinct lack of financial literacy among our population and according to the PIDM Landscape Report, only 36% of Malaysians are financially literate,” Raevendren says.

Coupled with the lack of access to investment solutions, which to date have been predominantly available only to high net-worth individuals or institutions, many Malaysians are at a loss as to retirement planning.

“The recent EPF withdrawals, albeit necessary perhaps, in the light of situations, further illustrate how underprepared Malaysians are for retirement.”

As such, explains Raevendren, the tie-up with MMA and the launch of the app is the firm’s launchpad towards democratising financial advice and offering financial solutions for everyone.

“Our cause is to educate people about financial literacy, and the importance of good financial planning, but it does not stop with education. We are also making these solutions available to everyone, and our core solution is the monthly direct debt investment from as low as RM10”

Cashku, the first app of its kind in Malaysia, is scheduled to be launched in May and Advisonomics is also looking to collaborate with other partners in this effort to promote financial literacy.