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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 | |||
| 123448 | Diploma in Financial Planning | |||
| ORIGINATOR | ||||
| Boston City Campus (Pty) Ltd formerly Boston City Campus and Business College (Pty) Ltd | ||||
| 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 | |
| Registered | EXCO 0729/25 | 2025-02-04 | 2028-02-04 | |
| LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
| 2029-02-04 | 2034-02-04 | |||
| 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 qualification attempts to ensure that learners are competent to practice as financial advisors in the field of financial planning and to provide professional financial advisory services to a range of clients. The qualification will ensure that South Africa is provided with a pool of capable and qualified financial advisors that will secure a foundation of knowledgeable and innovative advisors across the financial services environment. The qualification has been developed as a vocational qualification, focussing on industry-specific knowledge, for learners who would like to specialise within the Financial Planning or broader Financial Services Sector. The Diploma in Financial Planning will equip learners with the knowledge and skills they need to operate ethically and responsibly as financial advisors. Learners will be able to collect the appropriate and available information to analyse a client's financial situation and to recommend the best suitable financial solutions that align with the needs of the client. Learners will gain insight into the economic trends that have an influence on the financial services sector, the regulations governing the environment and how they impact financial decision-making, professional standards and ethics for financial advisors and an integrated practical case that will equip learners to apply their knowledge in a "real-world" scenario. Rationale: South Africa continues to face devastating levels of unemployment, coupled with concerns over the availability of suitably qualified and skilled workers. Skills shortages and unemployment are regarded as factors contributing to South Africa's constrained economic growth and development. The importance of identifying the skills needs in South Africa is becoming increasingly important and the need to ensure that education and training are available to address these needs is critical for the stability and growth of the economy (National List of Occupations in High Demand, Government Gazette No: 43837, 2020). Research conducted by DNA Economics for the Department of Higher Education has identified the Financial Services Sector as a sector that is impacted by the shortage of critical and professional skills within various job categories. The sector is further impacted by globalisation and rapid digital transformation which leads to further skills gaps. The research is supported by the findings presented in the INSETA Sector Skills Plan for 2020-2025. Certain job categories/skills in the sector have been highlighted as critical skills that need to be addressed to restore the shortage. The job categories identified in relation to the Financial Services Sector as critical skills jobs are as follows: The Diploma in Financial Planning has been developed as a vocational qualification, which focuses on professional and industry-specific knowledge. The qualification provides for a sound understanding of general theoretical principles and specific industry procedures with practical application of knowledge. The qualification equips learners with the necessary knowledge and skills to address the critical skills shortage for Financial Advisors (OFO Code: 341301001) as a sub-specialisation for Financial Investment Advisors (OFO Code: 241301) in South Africa, at NQF Level 6. The qualification has been aligned with the Financial Advisor Competency Profile and Curriculum as set out by the Financial Planning Institute of Southern Africa. The qualification provides learners with the basic introductory knowledge, cognitive tools, and practical techniques to function effectively within this environment. The financial services environment is highly regulated. As such the qualification was developed to meet the fit and proper requirements as per the Financial Advisory and Intermediary Services (FAIS) Act, 2002 (Act No 37 of 2002) and Board Notice 194 of 2017. The knowledge and skills that learners will acquire through this qualification will equip them to enter the sector as professionals with a good understanding of what is required of them to render advice in an ethical and professional manner. The qualification allows learners to register as Registered Financial Planners (RFP) with the Financial Planning Institute of Southern Africa (FPI) upon fulfilling the Institute's competency exam requirements. Learners will be able to apply for registration with the Financial Services Conduct Authority as Category 1 key individuals or intermediaries, in terms of Board Notice 194 of 2017, with Continuous Professional Development (CPD) training as a further requirement to remain FAIS Compliant. The institution supports the notion that education, in particular Higher Education, is a major contributor to the growth of South Africa's economy by providing quality education, upskilling the youth and providing opportunities to address unemployment in South Africa. For Higher Education institutions to successfully contribute to the economic growth of the country and respond to unemployment, it is essential to develop qualifications that are aligned with the critical skills shortages identified. By developing qualifications to address these needs, institutions demonstrate their commitment to achieving the goals and addressing the key focus areas highlighted in the White Paper for Post-School Education and Training (2013), for the development of qualifications "to address the scarce and critical skills needed for South Africa's economic development". The institution recognises that education has the potential to transform the lives of learners and, consequently, the communities and families they represent. Providing access, broadly understood to encompass both formal and epistemological notions of access to higher education is a starting point for initiating the process of transformation, which has the learners' identity, understanding of the world, and academic knowledge as the focus. The Diploma in Financial Planning will therefore supply qualified graduates to the growing industry demand. The qualification offers the following work opportunities on completion: The Diploma in Financial Planning provides access to learners who passed Grade 12 with a Diploma endorsement to enter Higher Education, thereby widening access and providing opportunities for learners to enter into a qualification that is industry-specific, which they previously might not have been able to do. The Financial Planning Institute of Southern Africa, together with international professional bodies, and professionalised professions within the financial planning field, offers learners the opportunity to follow a rewarding career path, with the option to further learning which will enable them to register for higher professional designation memberships, e.g., Certified Financial Planner (CFP®). As per the HEQSF, on completion of the qualification learners will meet the minimum entry requirements for admission to appropriate NQF Level 7 qualifications. Accumulated credits may contribute towards admission into a cognate Advanced Diploma and may also allow for access to an appropriate Bachelor's Degree in accordance with the entry criteria of respective institutions. |
| LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
| Recognition of Prior Learning (RPL):
The institution's existing RPL policy and practices will be applied in relation to the Diploma in Financial Planning. The principles of recognising learning that has already taken place will be applied at a modular level. The institution follows the Council on Higher Education (CHE) Policies on the Recognition of Prior Learning, Credit Accumulation and Transfer, and Assessment (CHE, 2016) and in accordance with the policy, learners applying for admission to the qualification via RPL can only be exempted from a maximum of 50 % of the qualification modules. Learners need to be able to demonstrate their prior learning either through evaluation/verification and/or assessment. Each application will be considered on a case-by-case basis and learners will enter into discussion with the RPL advisor to determine the requirements for the RPL assessment/portfolio of evidence. Although learners are rigorously assessed, as per the principles of RPL, there is no guarantee that a learner will gain admittance into a qualification or receive exemptions from modules. The institution adheres to the guidelines set by the CHE (CHE, 2016), and only 10 % of a cohort will be allowed admittance to a qualification on an RPL basis. Entry Requirements: The minimum entry requirement for this qualification is: OR OR |
| RECOGNISE PREVIOUS LEARNING? |
| Y |
| QUALIFICATION RULES |
| This qualification consists of the following compulsory modules at NQF Levels 5 and 6, totalling 377 Credits.
Compulsory Modules, NQF Level 5, totalling 171 Credits. Compulsory Modules, NQF Level 6, totalling of 206 Credits. Integrated Case Study, 20 Credits. |
| EXIT LEVEL OUTCOMES |
| 1. Demonstrate the ability to compile and write a professional proposal for clients relating to financial decision-making recommendations that suit clients' needs.
2. Demonstrate an understanding of Information and Communication Technology (ICT) and identify and discuss the latest digital transformation trends within the financial services environment. 3. Demonstrate an integrative and contextualised understanding of the financial services environment and the impact that economic systems have on the environment. 4. Apply knowledge of legislation, compliance and ethics in a financial planning context in South Africa. 5. Apply knowledge of legislation, taxation, economics and accepted financial planning principles to solve the financial needs of an individual and advise on insurance investment solutions. 6. Apply knowledge of legislation, taxation and business principles to advise a business on financial and insurance solutions. 7. Analyse clients' financial information and advice on potential financial solutions based on the collection of information and identification of client needs. 8. Demonstrate an understanding of the principles and practices that financial advisors need to apply when operating their own practice. 9. Demonstrate an understanding of the principles, processes and governance structures required for the management and administration of retirement funds. |
| ASSOCIATED ASSESSMENT CRITERIA |
| Associated Assessment Criteria for Exit Level Outcome 1:
Associated Assessment Criteria for Exit Level Outcome 2: Associated Assessment Criteria for Exit Level Outcome 3: Associated Assessment Criteria for Exit Level Outcome 4: Associated Assessment Criteria for Exit Level Outcome 5: Associated Assessment Criteria for Exit Level Outcome 6: Associated Assessment Criteria for Exit Level Outcome 7: Associated Assessment Criteria for Exit Level Outcome 8: Associated Assessment Criteria for Exit Level Outcome 9: INTEGRATED ASSESSMENT Boston has adopted a range of fit-for-purpose assessment strategies (i.e., the specific number, configuration, weighting and combination of assessment events) per qualification and per module. The level and complexity of the qualification and/or module determine the assessment strategies. Each assessment strategy consists of various assessment typologies (e.g., summative, formative), that can take on the form of various assessment modalities (i.e., the particular type of instrument by which learners are assessed) used for assessment purposes. Formative assessments typically include an assignment or test. Summative assessments typically include either a final exam, capstone project, research, reflective essay or a combination of modalities. For the Diploma in Financial Planning, the assessment strategy includes the following configuration and combination of weighted assessment typologies: The assessment strategy relevant to each individual module is indicated in the module outlines, uploaded in Section H of the accreditation application. |
| INTERNATIONAL COMPARABILITY |
| Country: United Kingdom
Institution: The Chartered Insurance Institute in London Qualification title: Advanced Diploma in Financial Planning Level: RQF Level 6 Purpose/Rationale: The qualification builds on existing knowledge that enables financial advisors to develop specialist planning capabilities and offer a sophisticated and comprehensive approach to financial management. The qualification is aimed at Retail Investment Advisors, Paraplanners, technical consultants and staff in related support roles. Upon completion of the qualification and with a minimum of five years of sector experience, members can apply for Chartered Financial Planner status. The qualification offers the following core modules: Learners are assessed via coursework, assignments and written examinations. Similarities: Differences: Country: Canada Institution: The British Columbia Institute of Technology Qualification title: Diploma in Financial Planning Duration: 2 years Purpose/Rationale This qualification prepares learners to start working in investment and financial planning upon graduation. The qualification focuses on practical, useable skills that graduates need in order to work towards obtaining their CFP® designation. Learners will graduate having written and passed the Canadian Securities Institute exam. The qualification can be completed either full-time or part-time. The qualification provides learners with the financial skills and knowledge necessary to provide personal financial advice in taxation, investments, estate, and retirement planning. Modules included in the qualification are as follows: Similarities: Differences: Conclusion From the international comparability, it is evident that the Diploma in Financial Planning is comparable with the modules offered in the above qualifications. From the above, it is further evident that each country designs its qualifications based on the standards set by the Financial Planning Standards Board (FPSB) of which the Financial Planning Institute of Southern Africa (FPI) is a member. |
| ARTICULATION OPTIONS |
| Horizontal Articulation:
Vertical Articulation: Diagonal Articulation: There is no diagonal articulation for this qualification. |
| 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. |
| 1. | Boston City Campus (Pty) Ltd formerly Boston City Campus and Business College (Pty) Ltd |
| 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. |