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:

Postgraduate Diploma in Financial Planning

SAQA QUAL ID	QUALIFICATION TITLE
118290	Postgraduate Diploma in Financial Planning
ORIGINATOR
Moonstone Business School of Excellence (PTY) Ltd (previously known as PSG Konsult Academy)
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY			NQF SUB-FRAMEWORK
-			HEQSF - Higher Education Qualifications Sub-framework
QUALIFICATION TYPE	FIELD		SUBFIELD
Postgraduate 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 08	Regular-Provider-ELOAC
REGISTRATION STATUS		SAQA DECISION NUMBER	REGISTRATION START DATE	REGISTRATION END DATE
Reregistered		EXCO 0821/24	2021-07-14	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 purpose of the Postgraduate Diploma in Financial Planning is to promote the development of the required level of technical knowledge, skills, values, and attitudes required to provide financial planning at a professional level.

This qualification will provide individuals with solid and specialised knowledge relating to the principles of financial planning. Sound understanding of general theoretical principles in the field of finance as well as a combination of general and specific procedures and their application. Qualifying learners will have theoretical knowledge of financial planning and advisory services, together with practical innovative skills that will enable them to fill management positions within the financial advisory industry.

Rationale:
Opinion research conducted by the institution among its target market revealed that there is sufficient need within the South African context for a qualification of this nature. Since the Financial Services and Banking industries are highly specialised, they demand a strong work ethic with the specific knowledge, skills, and qualities provided by this qualification. This qualification will benefit the Financial Services and Banking sectors, the community at large, and the economy of South Africa as skilled and professional financial planners will be produced.

The qualification follows the standards and guidelines as set by the Financial Planning Institute's (FPI's) Financial Planning Body of Knowledge (FPBoK) and is designed to provide advanced financial planning skills, knowledge, attitudes, and values in the areas of Financial Management, Asset Management and Investment Planning, Risk Management, Tax Planning, Retirement Planning, Estate Planning, and Ethics and Standards and Law to produce qualified learners to meet the growing need for financial planning professionals in South Africa.

The qualification provides a clear pathway for learners who have completed a Bachelor of Commerce in Financial Planning or similar NQF Level 07 qualification to further their studies towards professional financial planning practice. The qualification will provide a pathway for membership with the Financial Planning Institute of Southern Africa as a Certified Financial Planner® and create opportunities for life-long learning and assist learners to achieve their full potential in the financial services sector.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Recognition of Prior Learning (RPL):
Learners may apply for recognition of prior learning if they do not meet the admission requirements but have acquired relevant work experience, and/ or other informal training, in the financial services field. Applicants must complete the required application form and provide supporting evidence that details their work experience and evidence of informal learning. The institution will evaluate submitted evidence against Exit Level Outcomes of the Qualification required for admission. In the instance that the evidence is not sufficient, the applicant may be required to complete a competency examination, to assess competencies.

The institution will use RPL to provide access and award credits to learners who provide evidence of competence in financial planning and who can demonstrate the necessary communication and mathematical literacy.

Evidence can be presented in a variety of forms including reports, testimonials mentioning functions performed, work records, portfolios of evidence, and performance records. Such evidence will be judged according to the general principles of assessment and, where deemed necessary, learners may also be required to complete a contextualised mathematical literacy bridging programme for financial planning, before they may be admitted to the qualification.

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

Bachelor of Commerce or equivalent, NQF Level 7.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This qualification consists of the following compulsory modules at NQF Level 8 totalling 120 Credits.

Compulsory Modules, Level 8, 120 Credits.

Financial Planning Environment, 30 Credits.

Personal Financial Planning, 30 Credits.

Corporate Financial Planning, 30 Credits.

Case Study Module, 30 Credits.

EXIT LEVEL OUTCOMES

1. Apply the 6-step financial planning process following industry legal standards and accepted ethical practice to meet the financial planning needs of a variety of clients.
2. Demonstrate understanding of the legal/regulatory framework that applies to performing the functions associated with providing financial planning services to clients.
3. Build and maintain professional client relationships by providing clients with appropriate communication, explanation of concepts and financial education to enable informed choices.
4. Demonstrate integrated knowledge, values, skills and attitudes.
5. Draft and present an appropriate financial report based on the developed client financial planning strategies including legal, ethical and professional elements.
6. Demonstrate understanding of the value and importance of regular reviews of client financial needs, goals and strategies.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

Evaluate the financial planning process according to standards and ethical practices.

Apply the financial planning process in the practice of financial planning to client scenarios.

Discuss and apply the code of ethics and professional responsibility.

Adhere to all applicable legal and professional compliance requirements for the practice of financial planning.

Associated Assessment Criteria for Exit Level Outcome 2:

Demonstrate a practical understanding of complying with the requirements set by law and regulatory bodies when providing financial services to clients.

Associated Assessment Criteria for Exit Level Outcome 3:

Communicate clearly and with confidence in given client scenarios when assisting the client to define financial goals and objectives and building rapport to maintain an ongoing relationship.

Present information clearly and on the client's level of knowledge in given client scenarios relating to financial planning practice.

Draft the content of a client service level agreement or letter of engagement that sets out the relationship and scope for engagement with the client.

Associated Assessment Criteria for Exit Level Outcome 4:

Identify the information required for the financial plan.

Collect the information required to develop a suitable financial solution and or a suitable financial plan.

Explain the purpose of data collection and its value in client relationship management.

Apply the knowledge and skills necessary for explaining how the information obtained is incorporated in the overall scheme of the client's financial solution.

Prepare information to enable analysis.

Associated Assessment Criteria for Exit Level Outcome 5:

Assess strategies related to product solutions.

Create an asset allocation based on the client's needs, risk mentality, domestic and global economic situation and outlook, including the time horizon of the client.

Assess the advantages and disadvantages of each potential financial solution and determine which financial solution meets the client's needs.

Recommend a suitable financial solution and/or a suitable financial plan and document a compliant recommendation.

Develop a prioritised implementation plan, including timeframes and responsibilities.

Associated Assessment Criteria for Exit Level Outcome 6:

Determine the appropriate process and cycle of review for the financial plan.

Educate clients about financial trends and economic issues to provide a valid and reliable context for gauging plan results during reviews of the financial plan.

Integrated Assessment:
Applied competence in this qualification will be achieved if a learner can integrate the various Exit Level Outcomes to be able to perform as a professional financial planner in the South African context, by providing sound financial advice to a range of clients.

Ongoing formative assessment is implemented so that learners are given feedback on their progress in the achievement of learning outcomes. Summative assessment is concerned with the judgment of the learning concerning the exit level outcomes of the qualification, which tests the learner's ability to integrate FPI's Financial Planning Body of Knowledge FPBoK) in the areas of Financial Management, Asset Management and Investment Planning, Risk Management, Tax Planning, Retirement Planning, Estate Planning and Ethics and Standards and Law.
Formative assessment methods include:

Case studies.

Lecturer-led asynchronous discussion forums.

Report writing.

Research and work-based assignments.

Self-assessment activities in the qualification material.

Summative assessment includes:

Interpretative and analytical problem-solving in the written examination.

Integrated assessment at the level of this qualification provides an opportunity for learners to show they can integrate concepts, ideas, skills, values, and actions across the exit level outcomes to achieve competence that is grounded and coherent concerning the purpose of the qualification.

INTERNATIONAL COMPARABILITY

Certified Financial Planner (CFP) certification, is a globally recognised mark of professionalism for financial planning. The Financial Planning Standards Board Limited (FPSB) is an international body that establishes, upholds, and promotes worldwide professional standards for financial planning to foster public confidence in the financial planning profession and the CFP certification.

There are numerous affiliate member countries of the FPSB on six continents across the globe who are similarly committed to developing, promoting, and enforcing world-class standards for financial planning professionals, and all offer the globally recognised CFP certification program in their territories. In South Africa, the Financial Planning Institute of Southern Africa (FPI), a SAQA-recognised professional body for financial planners in South Africa, is also a founding and affiliate member of the FPSB and is the only body in South Africa to offer the globally recognised CFP certification. The Postgraduate Diploma in Financial Planning is the qualification level recognised by the FPI that prepares learners to take the FPI Professional Competency board examination to qualify for CFP certification.

The institution has a close working relationship with the FPI, ensuring that the content of this qualification is closely aligned with the standards and guidelines as set by the FPI's Financial Planning Body of Knowledge (FPBoK), and with the FPI curriculum for certified financial planners, and thus aligned to worldwide professional standards for financial planning as set by the FPSB.

In identifying accredited international institutions that offer similar qualifications, the institution chose institutions from FPSB affiliate member countries in Australia and Canada, that similarly offer qualifications approved by their professional body as preparing learners in that territory to qualify for CFP board examinations and gain CFP certification. It should be noted that while there are many more international institutions in other FPSB affiliate member countries that could also be deemed comparable, these specific countries were chosen based on having adopted similar overarching prudential and market conduct regulation in the area of financial services, thus ensuring there is a high level of similarity, especially in legal context modules.

Country: Australia
Institution: Kaplan Higher Education
Qualification Title: Graduate Diploma of Financial Planning
The qualification is offered at AQF 8, completed over 1.25 years full-time or 2.5 years part-time, which meets the entry requirement offered by the Financial Planning Association of Australia (FPA). The qualification has similar outcomes to that of the South African qualification, and the key subject content is similar to that offered in the South African qualification, i.e. economic and legal context for financial planning, ethics and professionalism, retirement planning, insurance planning, estate and succession planning, investment advice and tax and commercial law for financial planning. There are also differences, notably that tax and commercial law in the two countries differs making comparison difficult.

Country: Canada
Institution: Centennial College in Canada
Qualification Title: Graduate Certificate in Financial Planning
This qualification is completed over one year full-time. This qualification also meets the educational requirements for entry to the CFP Board exam, as offered by FP Canada, Canada's professional body for financial planning. This qualification has similar outcomes and similar subject content including retirement financial planning, tax planning, insurance planning, risk management, and estate planning, behavioural finance and ethics, conduct, and practices. Differences, apart from the fact that tax and other legislation in Canada are different to that of South Africa, include content on corporate credit management, which is not a specific requirement for South African CFP certification.

ARTICULATION OPTIONS

This qualification allows possibilities for both vertical and horizontal articulation.

Horizontal Articulation:

Postgraduate Diploma in Business Administration, NQF Level 8.

Vertical Articulation:

Master of Business Administration, Level 9.

Master of Commerce in Investment Management, Level 9.

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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