My Golden Age

We make a living by what we get, we make a life by what we give - Winston Churchill

It is important to know your retirement goals because it will determine on how you are going to plan for your retirement. Essentially gearing up for retirement for most retirees is about changing of lifestyle. It is all about the cost of living. Living expenses is worrying and it is rising. There will always be continuous bills to pay, medical, groceries, petrol, vacation, taxes, parking, tolls and the list goes on. How can one survive without a steady income? A study was made that the importance of planning for retirement has grown and the realization starts early especially among the Generation Y and the millenials.

The realization that coping up with their living expenses will be detrimental forces them to plan early. And majority of them would not want to sacrifice their current lifestyles. It is a fact that no one wants to downgrade the life style and that is why it is important to know whayt would your retirement goals be and start your retirement plan. At Bill & Morrisons we have the tools you need to start your own retirement plan. Call us today!


Our Services

  • Saving Solution
  • Planning For Retirement
  • Portfolio Management
  • Structured Solutions
  • Insurance Wrapper
  • Leaving Your Legacy
  • Flexibility


Frequently Asked Questions


A:Pursuant to Section 105 (1) of the Labuan Financial Services and Securities Act 2010
(LFSSA), Bill & Morrisons are licensed to carry business as a Labuan Insurance Broker
as defined under Section 101 of the LFSSA. This would include Wealth Management
practices. We are licensed under the Act on the 24 th July 2014.


A:Labuan Financial Services Authority (Labuan FSA) was established on 15 February 1996 under the Labuan Financial Services Authority Act 1996. Labuan FSA is the statutory body responsible for the development and administration of the Labuan International Business and Financial Centre (Labuan IBFC). The objectives of Labuan FSA include the following:

• to promote and develop Labuan as an international centre for business and financial services;

• to develop national objectives, policies and priorities for the orderly development and administration of international business and financial services in Labuan; and

• to act as the central regulatory, supervisory and enforcement authority of the international business and financial services industry in Labuan. Labuan FSA’s key role is to license and regulate licensed entities operating within Labuan IBFC and to ensure all such entities remain in compliance with the internal and international best standards adopted by the jurisdiction. Labuan FSA also develops policies for the orderly conduct of business and financial services in Labuan IBFC.


A:You can be assured that your investments are secured because we only recommend jurisdictions that have higher ratings than Malaysia. You will hear more about segregated portfolios and policyholder protection that provides you with utmost security. We also practice transparency whereby you will have direct access to your funds with online mobility. What is important is that you have full control over your funds and also your investments. Talk to us if you would like to know more.


A:One way to differentiate is to understand that what is illegal deposit taking means.

Illegal Deposit Taking

Illegal Deposit Taking is an act of receiving, taking or accepting of deposits (moneys, precious metals, precious stones, any other article etc.) from members of the public that promises a repayment with interest or returns in money or money’s worth without a valid license under the Banking and Financial Institutions Act 1989 (BAFIA).

What are the characteristics?

The operators of the “illegal deposit taking” schemes have no valid licence to collect deposits and exploit the basic human tendency towards greed. The operator promises very high returns on investment. The returns are normally higher than the rates offered by authorised investment schemes or licensed financial institutions. Besides cash, part of the return may be paid in kind, i.e. goods, jewellery etc.

Illegal deposit taking contravenes the Banking and Financial Act 1989 (BAFIA) under Section 25(1). On conviction, operators are liable to a fine not exceeding RM10 million or to imprisonment for a term not exceeding 10 years, or both.

How it’s done?

• Part of the money deposited by early investors is used to pay the profits due to investors. The operator continues paying these profits for a few months to lull investors into a false sense of security and to persuade investors to invest more.

• Theoretically, if the scheme continues to draw in new investors, it could go on indefinitely. However, the catch is that at some point in time, the scheme will vanish, typically at the point where a critical mass of capital has been achieved and the operators disappear with all the deposits collected from investors.

•In practice, these schemes eventually collapse because the operator starts to spend the cash collected too quickly, or the pool of new investors start to dry up.

• Illegal operators then abscond with the moneys collected when he feels that the scheme is about to fail, thus leaving the depositors at the losing end.

How to Protect Yourself?

• Remember the golden rule – if it sounds too good to be true, it’s probably a lie;

• Deal only with licensed financial institutions and authorised dealers;

• Check with the relevant authorities before investing/ depositing;

• Don’t be pressured or rushed to invest;

• Be extra careful with investments over the internet;

• Be sceptical of any investment opportunity that is not in writing; and

• In case an investment has been made, keep copies of all the investment and

communications and report to Bank Negara Malaysia


A: Labuan FSA is governed by a board known as the Authority, whose members are appointed by the Minister of Finance for a term not exceeding three years, after which they are eligible for reappointment. The current members comprise business leaders from the private sector as well as representatives from the government and statutory bodies. The roles and responsibilities of the Authority include setting the direction and policies relating to the conduct of business activities in Labuan IBFC. The day-to- day administration of Labuan FSA is entrusted to the Director-General. The members of the Authority include:

Datuk Muhammad Ibrahim was appointed Governor Bank Negara Malaysia on 1 May 2016. He chairs Bank Negara Malaysia’s Monetary Policy and Financial Stability Committees.

Datuk Oh Chong Peng is the Chairman of the Alliance Financial Group; Non-Executive Director of various boards of public-listed companies

Dato’ Mohammed Azlan Hashim is Chairman of D&O Green Technologies Berhad, SILK Holdings Berhad, Labuan IBFC Inc. Sdn Bhd and Deputy Chairman of IHH Healthcare Berhad. He is also a board member of SCOMI Group Berhad; and Khazanah Nasional Berhad and a member of Investment Panel for the Employees Provident Fund and the Government Retirement Fund Inc.

Datuk Ali Abdul Kadir is the Chairman of Jobstreet Corporation Berhad, Privasia Technology Berhad and the Financial Reporting Foundation.

Tan Sri Dato’ Seri Ranjit Ajit Singh is the Executive Chairman of the Securities Commission of Malaysia (SC). He was previously Managing Director of the SC and has over 20 years’ experience in the field of finance and securities regulation.

Datuk Ahmad Hizzad Baharuddin was appointed the Director-General of Labuan FSA on 3 October 2011. He currently serves as Director of Labuan IBFC Inc Sdn Bhd, Labuanfsa Inc Sdn Bhd, Pristine Era Sdn Bhd, Financial Park (L) Sdn Bhd and Labuan Corporation; and is a member of the Audit Committee of Labuan Corporation. Datuk

Ahmad Hizzad is also a Board Member of the International Islamic Financial Market in Bahrain

Dato’ Mohd Nadzri bin Osman has been Chief Executive Officer of Labuan Corporation since 1 September 2013. Dato’ Zahrah Abd Wahab Fenner was appointed as the Chief Executive Officer (CEO) of Suruhanjaya Syarikat Malaysia (SSM) on  1 January 2015.

Mrs Khodijah is the Secretary of Tax Division at the Ministry of Finance (MOF). She has more than 30 years of experience in the areas of domestic and international taxation.


A: Insurance wrapper or Insurance platform is a portfolio of investments with an insurance element.

It provides an array of investment choices and provides certain empowerment choices and flexibility to the clients or participants. It falls within the definition of investment Linked Products.

Traditional Investment Linked Products (ILP) have limited flexibility over how investors or policy holders money are invested as it is limited to what the insurer offers. Typically policy holder will have no say over the funds selected by the
fund managers.

Insurance wrappers provides choices of funds which they have listed and allow the policy holders to choose or appoint fund managers of their choice.

Insurance wrappers offers a wide range of investment choices. Policy holders or clients can opt to invest in cash and deposits, equities, bonds, derivatives and collective investment schemes.

Most Insurance wrapper carriers comes from tax haven islands such as Cayman, Isle of Man, Luxembourg, Bermuda, Guernsey and many others. The fact that they come from tax haven jurisdiction the policy owners also enjoy tax advantage by using insurance wrappers to manage their insurance portfolio.

Insurance wrapper is a good product to manage and diversify your investments portfolio in one place. It provides you with flexibility, choices and it can also evolve according to your financial objectives and requirements.

Depending on products and carriers most of them provides a regular withdrawal facilities. Most policy holders would use this feature as a supplement to their retirement income or based on their plan it is also used to pay for their children’s education or school fees. Whatever it may be, primarily Insurance wrapper is used as a vehicle to grow their capital based on time horizon and their financial goals.

Insurance wrappers are often subscribed as a lifestyle policy. It responds to our ever changing life cycle and risk appetite. For example it is typical for someone who is in their 30’s and 40’s to take more risks and focuses more on their investments on capital appreciation. Risk appetite will typically change once you are in the 50’s or 60’s as your main priority is to invest in something safe and risk averse investments such as capital protected products with stability return.

Insurance wrappers offers policy holders the convenience of buying one policy and being able to change asset allocation, fund selection and make regular withdrawals, as his primary investment objectives and financial needs change over time.

Another advantage is the convenience of having a consolidated view of investments in a single statement from the insurer, instead of multiple statements from various fund managers.

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