SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED QUALIFICATION:

Advanced Diploma in Financial Planning

SAQA QUAL ID	QUALIFICATION TITLE
112125	Advanced Diploma in Financial Planning
ORIGINATOR
Tshwane University of Technology (TUT)
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY			NQF SUB-FRAMEWORK
-			HEQSF - Higher Education Qualifications Sub-framework
QUALIFICATION TYPE	FIELD		SUBFIELD
Advanced Diploma	Field 03 - Business, Commerce and Management Studies		Finance, Economics and Accounting
ABET BAND	MINIMUM CREDITS	PRE-2009 NQF LEVEL	NQF LEVEL	QUAL CLASS
Undefined	120	Not Applicable	NQF Level 07	Regular-Provider-ELOAC
REGISTRATION STATUS		SAQA DECISION NUMBER	REGISTRATION START DATE	REGISTRATION END DATE
Reregistered		EXCO 0821/24	2019-09-18	2027-06-30
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2028-06-30		2031-06-30

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:
The primary purpose of the Advanced Diploma in Financial Planning is to add knowledge and practical (simulated) expertise to learners under the qualification. This qualification is primarily a vocational learning qualification offered over a period of 1-year full time, preparing learners for a career in the fields of finance and training them to be Financial Planning Specialists, Wealth planners; Financial Planners; Portfolio Managers; Pension and Estate Planners, Demand Planners; Stock Brokers; Financial Advisors and Investment Specialists. It also provides learners with a sound understanding of general theoretical principles in the field of finance as well as a combination of general and specific procedures and their application. Learners 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. The significance of this qualification is that it 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.

Such 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 finance appropriate to industry needs. This qualification includes an appropriate Work-Integrated Learning (WIL) component simulation. Completion of the qualification meets the minimum entry requirement for admission to a Postgraduate Advanced Diploma in Financial Planning. The completion of this qualification will also meet the minimum entry requirement for admission to Postgraduate Diploma, a Bachelor Honours Degree or a Bachelor's Degree. A qualification may not be awarded for early exit from the Advanced Diploma qualification.

Rationale:
The Financial Advisory and Intermediary Services Act, 2002 (the FAIS Act), among others, requires financial services providers to have an appropriate qualification. This lead to skills need in the financial services sector. The need was also noted by 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 INSETA, there are still a small number of employees in the industry which implies that there is a need for financial service professionals.

Learners 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. The significance of this qualification is that it 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. Such 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. Completion of the qualification meets the minimum entry requirement for admission to a Postgraduate Diploma. The development of this qualification is in line with the Tshwane University of Technology's vision and mission statements to provide 21st-century skills within the field of commerce. The completion of this qualification will also meet the minimum entry requirement for admission to an Honours Degree. Accumulated credits may also be presented for admission into a cognate Honours, a qualification which may not be awarded for early exit from this qualification. The planning of the qualification was supported by the departmental advisory committee. The department of Managerial Accounting and Finance together with key parties from the Financial Planning Institute has ensured that each module included in the qualification was aligned with the learning goals and outcomes in order to equip learners in the area of Financial Planning. 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):
Access to this qualification could also be through Recognition of Prior Learning (RPL). Learners who do not meet the entry requirements may gain admission through RPL. In all cases, recognition will be considered under the conditions of the institution policies and approval as per institutional policy, credits towards this qualification may be obtained by means of RPL. It is the policy of the institution to assess for RPL, Equivalence and Status (RES) in accordance with statuary requirements in order to promote access to higher education and in particular to accelerate the redress of past unfair discrimination.

Entry Requirements:
The minimum entry requirement for this qualification is:

National diploma, NQF Level 6.
Or

Diploma, NQF Level 6.
Or

Bachelor, NQF Level 6 (in the relevant field).

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This qualification consists of the following compulsory modules at NQF Level 7 totalling 120 Credits.

Compulsory Modules, Level 7,120 Credits:

WIL in Financial Planning IV (Simulation), 24 Credits.

Finance IV A, 12 Credits.

Finance IV B, 12 Credits.

Asset management IV A, 12 Credits.

Asset management IV B, 12 Credits.

Estate and Tax Planning IV B, 12 Credits.

Advanced Business communication IV A, 12 Credits.

Risk Management IV B, 12 Credits.

Retirement Planning IV B, 12 Credits.

EXIT LEVEL OUTCOMES

1. Understand, apply and evaluate the key terms, concepts, facts, principles, rules and theories of financial planning; and detailed knowledge of Finance, Asset Management, Estate and Tax Planning, Advance Business communication, Risk Management and Retirement Planning and how that knowledge relates to economics and management studies.
2. Demonstrate an understanding of a range of methods of enquiry in a field of business studies, and their suitability to specific investigations; and the ability to select and apply a range of Finance, Asset Management, Estate and Tax Planning, Advanced Business Communication, Risk Management and Retirement Planning to resolve problems or introduce change within financial planning.
3. Take decisions and actions ethically and professionally, and the ability to justify those decisions and actions drawing on appropriate ethical values and approaches within a supported environment.
4. Develop appropriate processes of information gathering through the use of business data management techniques; and the ability to independently validate the sources of data and evaluate and manage the information.
5. Develop and communicate financial planning ideas and opinions in well-formed arguments, using business data management techniques relevant to occupational discourse.
6. Identify, evaluate, and address his or her learning needs in a self-directed manner, and to facilitate collaborative learning processes against given criteria.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

Explain key terms, concepts, facts, principles within the asset management, rules: of Estate and tax planning, in Finance, in retirement planning, in advanced business in risk management are explained within the area of business studies.

Associated Assessment Criteria for Exit Level Outcome 2:

Information in Asset Management, Estate and Tax Planning, Retirement Planning, Business Communication and Risk Management is identified, selected, and evaluated to address complex or abstract and real-life problems in a professional manner within the field of business studies.

Methods and procedures in asset management, estate and tax planning, finance, advanced business communication and risk management are selected and explained to address complex or abstract and real-life problems in a professional manner within the field of business studies.

Associated Assessment Criteria for Exit Level Outcome 3:

Awareness of the complexity of professional standards and the ethical implications of decisions and actions are explained and applied in a professional manner within the field of business studies.

Associated Assessment Criteria for Exit Level Outcome 4:

Information appropriate to financial planning is selected, analysed, and presented using computer skills.

Well-developed processes to analyse and synthesise information are applied in financial planning and work-integrated learning practices.

Associated Assessment Criteria for Exit Level Outcome 5:

Complex information in asset management, estate and tax planning, retirement planning, finance, risk management and advanced business communication is reliably and coherently presented and communicated using communication for academic purposes, computer Literacy, Information Literacy in the field of business studies.

Associated Assessment Criteria for Exit Level Outcome 6:

Learning and work performance, specific learning needs, teamwork, responsibility for own actions and actions of others against given criteria are evaluated using work-integrated learning and life skills relevant to the area of financial planning.

Integrated Assessment:
Learners will be assessed based on practical scenarios relating to financial planning in two ways:
Formative Assessment:

Theoretical assessment in the form of written tests, assignments, that will test the underpinning foundational skills in financial planning.

Simulated practical assessments.

Summative Assessment:

For the assessment strategy as a whole, evidence must be demonstrated through a variety of options which can include portfolio of learning materials, projects, written examinations and practical exercises.

INTERNATIONAL COMPARABILITY

Australia:
Monash Institution offers the advance Diploma Financial Planning diploma that provides learners with financial skills and knowledge necessary to provide personal financial advice in taxation, investments, estate, and retirement planning. It includes: Advance investments, Practice management, Taxation and estate planning.

United Kingdom:
The Chartered Institute of Insurance (CII) offers an Advanced Diploma in Financial Planning. The Diploma in Financial Planning builds on existing skills and develops knowledge gained through previous study and workplace training, better preparing you to offer a sophisticated and comprehensive approach to financial management.

Upon completion candidates will be awarded the Advanced Diploma in Financial Planning. The qualification focuses on the following concepts: Trusts, the tax and legal aspects of business, pension income options, supervision in a regulated environment, Para planning, discretionary investment management, wrap and platform services, securities advice and dealing, financial services, regulation & ethics, investment principles and risk, personal taxation, pensions and retirement planning, financial planning practice and advanced mortgage advice.

Hongkong:
Hong Kong University offer the Advanced Diploma in Financial Planning. The qualification allows learners to sit for the AFPTM and CFPCM Professional examinations run by the Institute of Financial Planners of Hong Kong. Learners who complete the AFP module will qualify to sit for the CFPCM Certification Examination (Foundation Level). Similarly, learners who complete the CFP Level 1 modules will qualify to sit for the CFP Level 1 Certification Examination. Learners who continue on to complete the CFP Level 2 module will qualify to sit for the CFP Level 2 Certification examination. The diploma includes the following modules: Financial Planning Insurance Planning and Risk Management, Investment Planning and Asset Management and Tax Planning and Estate Planning.

Conclusion:
The institution's Advanced Diploma is comparable with the above mentioned qualifications in terms of the module competencies the learner is to master. The Advanced Diploma in Financial Planning offered by the institution is similar to the above-mentioned international qualifications. All institutions that offer Financial Planning qualifications design based on the educational requirements of the Financial Planning Standards Board (FPSB). The qualification offered by the institution is 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:

Bachelor of Commerce in Finance, NQF Level 7.

Vertical Articulation:

Postgraduate Diploma in Financial Planning, NQF Level 8.

Bachelor of Commerce Honours in Financial Planning, NQF Level 8.

MODERATION OPTIONS

N/A

CRITERIA FOR THE REGISTRATION OF ASSESSORS

N/A

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.

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