SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Diploma in Financial Planning 
SAQA QUAL ID QUALIFICATION TITLE
110665  Diploma in Financial Planning 
ORIGINATOR
Tshwane University of Technology (TUT) 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Diploma (Min 360)  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  360  Not Applicable  NQF Level 06  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Reregistered  EXCO 0821/24  2019-09-11  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2033-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This qualification does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
This qualification prepares qualifying learners for a career in the fields of finance and training them to be Financial Planning Technicians, Client Service Consultants, Financial Advisor; Bank, Insurance and Real Estate Underwriters. The exit level of the curriculum for this qualification will provide individuals with a sound understanding of general theoretical principles in Estate and Tax Planning, Financial Planning, Professional Standards and Ethics, Corporate Finance in the field of financial planning as well as a combination of general and specific techniques and their application. Qualifying learners will have theoretical knowledge, together with practical innovative skills.

Financial Planners are expected to be innovative and financial sound individuals and should have a well-rounded perspective with regards to the profession. The institution has established the institutional goal of preparing its diverse learners to achieve their highest potential and meet the current industry needs and standards. Achieving these goal will assist learners to meet the desired graduate attributes aligned within the qualification.

In addition, the qualifying learners will be able to:
  • Apply knowledge and skills in the entrepreneurial environment or workplace and advise communities on financial related matters.
  • Enter a number of career paths and to apply their learning to different financial contexts from the outset.
  • Function under the supervision of senior personnel within the scope of practice.
  • Demonstrate planning and technical skills in the field of finance appropriate to industry needs.

    Rationale:
    The Financial Advisory and Intermediary Services Act, 2002 (the FAIS Act), among others, requires financial services providers to have an appropriate qualification. This led to increase in skills need in the financial services sector. The need was also noted by Finance and Accounting Services Sector Education and Training Authority (FASSET' Sector Skills Plan-2012 Report), which indicated that financial skills are needed in different financial service environments such as insurance, banking and in the rest of the South African economy. It has been found that consumers are faced with various complexities, uncertainties and confusion on a daily basis with regard to financial planning decisions, therefore financial planning professionals will be able to help consumers through the principles and practice of sound financial planning. According to research done by the Insurance Sector Education and Training Authority's (INSETA), there is still a small number of employees in the industry which implies that there is a need for financial service professionals.

    Qualifying leaners will have theoretical knowledge, together with practical innovative skills. They will be able to apply knowledge and skills in the entrepreneurial environment or workplace and advise communities on financial related matters. This qualification will enable successful learners in the targeted areas to enter a number of career paths and to apply their learning to different financial contexts from the outset.

    Furthermore, qualifying learners will function under the supervision of senior personnel within the scope of practice. The qualification is intended to develop learners who can demonstrate planning and technical skills in the field of financial planning appropriate to industry needs. This qualification includes a simulated work-integrated learning (WIL) in Financial Planning component which will be implemented on the campus. The qualification will contribute towards the reduction of scarce financial planning skills nationally. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Recognition of Prior Learning (RPL):
    As per institutional policy, those who do not meet the formal entry requirements for admission may apply for access into the qualification. However, it should be noted that in terms of the policy, credits and/or access towards the qualification may only be awarded for knowledge and skills acquired through experience and not for experience alone.

    Learners who do not meet the entry requirements may gain admission through Recognition of prior learning (RPL), which includes formal, informal, non-formal learning and prior experience in the field of Business Studies.

    Entry Requirements:
    The minimum entry requirement for this qualification is:
  • National Senior Certificate (NSC) at National Qualifications Framework (NQF) Level 4.
    Or
  • National Certificate Vocational (NCV)) at NQF Level 4.
    Or
  • A National N Certificate as published in Nated 191: N3.
    Or
  • A Higher Certificate (HC) in Accounting at NQF Level 5. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification consists of the following compulsory modules at Levels 5 and 6 totalling 360 Credits.

    Compulsory Modules, Level 5: 156 Credits:
  • Communication for Academic purposes, 10 Credits.
  • Computer Literacy I, 10 Credits.
  • Life Skills I, 2 Credits.
  • Academic Literacy I, 2 Credits.
  • Business Communication I, 12 Credits.
  • Fundamentals of Financial Planning I, 12 Credits.
  • Financial Accounting, I, 24 Credits.
  • Micro Economics, 12 Credits.
  • Macro Economics, 12 Credits.
  • Work-integrated learning (WIL) in Financial Planning (Simulation) I, 12 Credits.
  • Business Mathematics, 12 Credits.
  • Marketing I, 12 Credits.
  • Commercial Law, 12 Credits.
  • Professional Standards and Ethics for Finance III, 12 Credits.

    Compulsory Modules, Level 6: 204 Credits:
  • WIL in Financial Planning (Simulation) II, 24 Credits.
  • Fundamentals of Financial Planning II, 24 Credits.
  • Estate and Tax planning II, 24 Credits.
  • Corporate Finance II, 24 Credits.
  • WIL in Financial Planning (Simulation) III, 24 Credits.
  • Corporate Finance III, 24 Credits
  • Financial Planning III, 24 Credits.
  • Estate and tax Planning III, 24 Credits.
  • Working Capital III, 12 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Demonstrate detailed knowledge of business studies and apply the key terms, concepts, facts, and principles, rules in financial planning in unfamiliar and relevant contexts within the field of business studies.
    2. Demonstrate the ability to identify, select and evaluate financial information, and business knowledge to address complex or abstract and real life problems in a professional manner within the field of business studies.
    3. Demonstrate an understanding of the ethical implications of decisions and actions, based on an awareness of the complexity of financial planning practice and ethics within financial planning environment.
    4. Demonstrate the ability to select financial planning data, evaluate information and apply well-developed processes appropriate to financial planning and work integrated learning practices, within the field of business studies.
    5. Demonstrate the ability to present and communicate complex information of financial planning in the field of business studies.
    6. Demonstrate the ability to evaluate learning and work performance, specific learning needs, team work, responsibility for own actions and actions of others against given criteria. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Explain and apply key terms, concepts, facts, principles, in business mathematics within the area of business studies.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Identify, select, evaluate information to address complex or abstract and real life problems in a professional manner within the field of business studies.
  • Select and explain methods and procedures in financial planning.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Explain and apply the complexity of professional standards and the ethical implications of decisions and actions in a professional manner within the field of business studies.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Select, analyse and present information appropriate to financial planning using computer skills.
  • Apply well-developed processes to analyse and synthesise information in financial planning and work integrated learning practices.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • Coherently present and communicate complex information in in the field of business studies.

    Associated Assessment Criteria for Exit Level Outcome 6:
  • Evaluate learning and work performance, specific learning needs, team work, responsibility for own actions and actions of others against given criteria using relevant work integrated learning and appropriate life skills to the area of financial planning.

    Integrated Assessment:
    The module content in the field of Financial Planning frequently changes due to government policies, the economy and nature of developing market businesses. Learners will be assessed based on practical scenarios relating to financial planning in two ways:
  • Theoretical assessment in the form of written tests and exams that will test the underpinning foundational skills in financial planning.
  • Simulated practical assessments: These are assessments will be designed to assess students' ability to collect evidence of learners' foundation skills in the form of reports, case studies as well as peer discussions.

    For the assessment strategy as a whole, evidence must be demonstrated through a variety of options which can include case studies, problem solving assignments and portfolio of learning materials, projects, written examinations and practical exercises. Some strategies will be more suited to access foundational competence, while others are more suited to access practical and reflective competence.

    The final integrated assessment needs to measure applied competence. It should assess whether learners are able to recognise, identify and assess internal and external factors that influence the accounting environment (practical competence), understand the theoretical and fundamental basis of financial planning principles (foundational competence) and apply financial planning principles in order to make economic decisions (reflective competence). 
    		•

    INTERNATIONAL COMPARABILITY 
    This qualification has been compared with the following international qualifications:

    Country: Canada:
    Institution: British Columbia Institute of Technology (BCIT).
    Qualification Title: Financial Planning Diploma.

    This qualification provides learners with financial skills and knowledge necessary to provide personal financial advice in taxation, investments, estate, and retirement planning. It includes: Security Fundamentals, Security Analysis, Fundamentals of Financial Planning, Comprehensive Financial Planning, Financial Services, Finance, Taxation, Essentials of Marketing and Accounting for Financial Management.

    Country: Canada:
    Institution: Wilfred Laurier University.
    Qualification Title: Diploma in Financial Planning.
    This qualification prepares the students to respond proactively to this complex and rapidly changing field. The Diploma involves courses primarily from the finance area, but also from accounting, policy and economics. The quality of this financial planning program has been recognised by the Financial Planners Standards Council (FPSC), which has accredited this program.

    Financial Planning Diploma students must complete 13 half-credit courses in finance, accounting, policy and economics. The Diploma includes the following courses: Introduction to Business Organisation, Introduction to Macroeconomics, Introduction to Financial Accounting, Business Law, Introduction to Risk Management and Insurance. Taxation, Financial Management, Personal Financial Planning and Management.Investment Managing, Life and Health Insurance, Estate Planning, Retirement Planning and Employee Benefits.

    Country: United Kingdom:
    Institution: The Chartered Institute of Insurance (CII).
    Qualification Title: Diploma in Financial Planning.
    The qualification is more suitable than the Diploma in Regulated Financial Planning for those candidates who hold additional prior learning that counts towards completion (reducing the number of exams required to complete). This qualification develops core technical knowledge and understanding across a broad range of key advisory areas, with 36 units in total from which to build a study programme. Modular in structure, with no compulsory units, the Diploma allows you to develop a learning programme that reflects your personal circumstances or career aspirations.

    Upon completion qualifying learners will be awarded the Diploma in Financial Planning. PFS members are entitled to use the designation DipPFS (Continuing Professional Development requirements apply). They will also be able to use the credits obtained in achieving the Diploma towards the Advanced Diploma in Financial Planning, leading to Chartered Financial Planner status. The qualification focuses on the following concepts: Trusts, the tax and legal aspects of business, pension income options, supervision in a regulated environment, paraplanning, discretionary investment management, wrap and platform services, securities advice and dealing, financial services, regulation and ethics, investment principles and risk, personal taxation, pensions and retirement planning, financial planning practice and advanced mortgage advice.

    Country: United States of America:
    Institution: The New York University (NYU).
    Qualification Title: Certificate in Financial Planning.

    The qualification is designed to fulfil the educational requirements necessary to sit for the Certified Financial Planner Certification Examination. The program covers all 78 domains required by the Certified Financial Planner. The qualification includes the following content: Fundamentals of Financial Planning, Financial Planning Process and Insurance, Investment Planning, Financial Calculator Proficiency Exam, Income Tax Planning, Retirement Planning and Employee Benefits, Planning, Financial Planning Capstone.

    Conclusion:
    The modules in this qualification is comparable with the modules of the above mentioned international qualifications. Most institutions that offer the Financial Planning qualifications design the qualification based on the educational requirements of the Financial Planning Standards Board (FPSB). This qualification will also be in line with the educational requirements set by the Financial Planning Institute of Southern Africa (FPISA) which is a member of the Financial Planning Standard Board (FPSB). 

    ARTICULATION OPTIONS 
    This qualification allows possibilities for both vertical and horizontal articulation.

    Horizontal Articulation:
  • Diploma in Financial Services Operations, NQF Level 6.

    Vertical Articulation:
  • Advanced Diploma in Financial Planning, NQF Level 7.
  • Advanced Diploma in Financial Management, NQF Level 7. 
    		•

    NOTES 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Tshwane University of Technology (TUT) 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.