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: 

Advanced Certificate in Financial Planning 
SAQA QUAL ID QUALIFICATION TITLE
93710  Advanced Certificate in Financial Planning 
ORIGINATOR
MANCOSA 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
Advanced Certificate  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 06  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered  EXCO 0324/24  2024-07-01  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 Advanced Certificate in Financial Planning is designed to equip learners with the essential knowledge, skills, and competencies required to excel in the financial planning industry. The qualification provides a comprehensive understanding of financial planning principles, regulations, and practical applications, empowering learners to perform critical tasks such as financial needs analysis, tax planning, investment management, and retirement planning (Ntuli, 2020). The target learners for this qualification are individuals who have completed an NQF Level 5 qualification in financial services and are looking to advance their careers in financial planning, brokerage, or consultancy roles. Learners will complete this qualification to meet industry standards, comply with regulatory requirements, and enhance their professional standing.

With the current skills needed and the scarcity of qualifications in the financial planning sector, this qualification aims to produce graduates who are in possession of specific graduate attributes. The qualification's graduate attributes identified below demonstrate the competencies the learner will possess upon completion of the qualification:
  • Conduct a comprehensive financial needs analysis for individuals and businesses.
  • Apply financial planning principles to create customised financial plans that address clients' short and long-term goals.
  • Advise clients on investment strategies, tax planning, retirement planning, and estate planning.
  • Interpret and comply with relevant financial planning legislation and regulatory requirements, such as the FAIS Act.
  • Develop and manage client relationships, ensuring ethical conduct and adherence to professional standards.
  • Implement financial risk management strategies based on market conditions and client needs.
  • Provide ongoing financial advice and support through client feedback and re-evaluation processes

    Upon completion of the qualification, graduates will be able to:
  • Describe the financial planning process in detail.
  • Record the financial advice process in line with regulatory requirements.
  • Provide a comprehensive financial needs analysis to a client.
  • Describe, explain, analyse, and synthesise financial planning concepts.
  • Analyse a variety of financial products and make informed decisions based on client needs.
  • Analyse market conditions, regulations, investment products, risk products, and provide solutions based on client needs.
  • Implement a monitoring process for client feedback and re-evaluation.
  • Provide and implement a business management operation in line with compliance requirements.

    Rationale:
    The qualification was developed in response to the growing demand for qualified financial advisers and planners in South Africa. Financial planning has emerged as a critical service, needed by both individuals and organisations, to navigate complex financial landscapes and ensure sound financial management (Bancoro, 2023). The Financial Services Board (FSB) estimates that there are over 20,000 active brokers and financial advisers in the market, many of whom have completed only an NQF Level 5 qualification (Oosthuizen, 2022).

    Taking the above into consideration, the qualification has been carefully crafted to fill in the demand and gap for qualified financial advisers and planners to progress further and meet the industry's evolving demands. The qualification also responds to the need for more flexible learning options, as many advisers are in full-time employment and unable to attend full-time university qualifications. This qualification, delivered via distance learning, meets this need by offering a flexible and accessible solution for financial professionals seeking to advance their careers while maintaining their work commitments.

    The qualification fills a critical need in the financial services sector by offering this qualification in a distance mode of delivery, as there are few NQF Level 6 qualifications available in the market. Therefore, there is a need for an NQF Level 6 qualification that allows working professionals to study remotely and progress their learning (BankSeta, 2022). The need for a formal learning qualification in financial planning was recognised by various stakeholders in the financial services industry, including the Financial Planning Institute of Southern Africa (FPI) and major financial services organisations like Sanlam (Botha, Geach, Goodall, Perez, and Plant, 2020). These organisations identified a need for qualified financial planners who can offer expert advice and comply with regulatory requirements such as the FAIS Act. Sanlam and other institutions have noted that while the institutions offer NQF Level 4 and 5 qualifications, the graduates need access to an accredited NQF Level 6 qualification to continue advancing careers. Therefore, the qualification fulfils this need.

    In alignment with the above, the financial services industry requires professionals who are well-versed in financial planning, risk management, and regulatory compliance. The qualification addresses these sector-specific needs by equipping learners with skills in personal financial planning, business financial planning, income tax planning, and financial management. The qualification also ensures that learners are familiar with the ethical standards and regulatory frameworks governing financial planning in South Africa, such as the FAIS Act. These professions require expertise in financial risk management, tax planning, and compliance with regulatory standards.

    Furthermore, the qualification aligns with South Africa's national strategies for addressing scarce skills and promoting professional development in key sectors of the economy. By contributing to the upskilling of financial professionals, the qualification supports South Africa's economic stability and growth. The qualification offers several benefits to society and the economy. For society, it enhances financial literacy and ensures that individuals and businesses receive sound financial advice, which is essential for long-term financial security. For the economy, the qualification contributes to the professionalisation of the financial services sector, which in turn supports responsible investment practices, risk management, and economic stability (Jones, Smith, and Patel, 2022).

    The qualification will be beneficial to individuals in the following fields and those who want to find employment in roles such as:
  • Financial Planner.
  • Financial Advisor.
  • Personal Financial Consultant.
  • Financial Analyst.
  • Investment Broker. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Recognition of Prior Learning (RPL):
    The institution has an approved Recognition of Prior Learning (RPL) policy which is applicable to equivalent qualifications for admission into the qualification. RPL will be applied to accommodate applicants who qualify. RPL thus provides alternative access and admission to qualifications, as well as advanced standing within qualifications. RPL may be applied for access, credits from modules, and credits for or towards the qualification.

    RPL for access:
  • Learners who do not meet the minimum entrance requirements or the required qualification at the same NQF level as the qualification required for admission may be considered for admission through RPL.
  • To be considered for admission in the qualification based on RPL, applicants should provide evidence in the form of a portfolio that demonstrates that they have acquired the relevant knowledge, skills, and competencies through formal, non-formal and/or informal learning to cope with the qualification expectations should they be allowed entrance into the qualification.

    RPL for exemption of modules:
  • Learners may apply for RPL to be exempted from modules that form part of the qualification. For a learner to be exempted from a module, the learner needs to provide sufficient evidence in the form of a portfolio that demonstrates that competency was achieved for the learning outcomes that are equivalent to the learning outcomes of the module.

    RPL for credit:
  • Learners may also apply for RPL for credit for or towards the qualification, in which they must provide evidence in the form of a portfolio that demonstrates prior learning through formal, non-formal and/or informal learning to obtain credits towards the qualification.
  • Credit shall be appropriate to the context in which it is awarded and accepted.

    Entry Requirements:
  • National Senior Certificate, NQF Level 4.
    Or
  • National Vocational Certificate, NQF Level 5.
    Or
  • Senior Certificate, without endorsement.
    Or
  • Higher Certificate in Financial Planning, NQF Level 5.
    Or
  • Higher Certificate in Management, NQF Level 5. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification consists of the following compulsory modules at the National Qualifications Framework, Level 6, totalling 120 Credits.

    Compulsory Modules, Level 6, 120 Credits:
  • Financial Planning Environment, 20 Credits.
  • Personal Financial Planning, 20 Credits.
  • Business Financial Planning, 20 Credits.
  • Practice Management, 20 Credits.
  • Income Tax Planning, 20 Credits.
  • Financial Management and Planning, 20 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Describe the financial planning process in detail.
    2. Record the financial advice process in line with regulatory requirements.
    3. Provide a comprehensive financial needs analysis to a client.
    4. Describe, explain, analyse, and synthesise financial planning concepts.
    5. Analyse a variety of financial products and make informed decisions based on client needs.
    6. Analyse market conditions, regulations, investment products, risk products, and provide solutions based on client needs.
    7. Implement a monitoring process for client feedback and re-evaluation.
    8. Provide and implement a business management operation in line with compliance requirements. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Demonstrate the financial planning process to gain a holistic understanding of sound financial planning.
  • Describe the steps of the financial planning process to understand the sequence, purpose, and interrelationships required.
  • Apply the steps in the financial planning process to practical client scenarios to demonstrate how financial planners use these steps in real-world contexts.
  • Analyse the ethical, legal, and professional obligations associated with the financial planning process to ensure compliance with industry standards and regulatory frameworks.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Document the financial advice process to ensure adherence to regulatory requirements, such as the Financial Advisory and Intermediary Services (FAIS) Act.
  • Describe advice process framework to demonstrate understanding of its purpose, key components, and the significance of accurate documentation in line with related legislation.
  • Apply advice documentation procedures to demonstrate the ability to prepare compliant advice records, disclosures, and recommendations that adhere to regulatory and professional standards.
  • Evaluate the quality and compliance of advice documentation to demonstrate the capacity to identify gaps, ethical risks, and improvements consistent with Treating Customers Fairly (TCF) and Financial Advisory and Intermediary Services (FAIS) principles.

    Assessment Criteria for Exit Level Outcome 3:
  • Deliver the complete financial needs analysis, grounded in relevant financial concepts, based on client objectives.
  • Interpret the client financial information and objectives to demonstrate understanding of the client's financial position, priorities, and risk profile.
  • Apply the financial needs analysis tools and methodologies to demonstrate the ability to develop a comprehensive and client-specific financial needs report in alignment with professional standards.
  • Evaluate the resulting financial recommendations and strategies to demonstrate sound judgment in addressing client goals, ensuring suitability, compliance, and ethical alignment with financial planning principles.

    Assessment Criteria for Exit Level Outcome 4:
  • Describe the financial planning concepts to demonstrate their application in theoretical and practical business contexts.
  • Explain the core financial planning concepts and principles to demonstrate understanding of the meaning, relevance, and interrelationships within the financial planning environment.
  • Analyse the financial planning information and data to demonstrate the ability to interpret different financial planning scenarios and outcomes.
  • Synthesise the integrated financial planning knowledge and frameworks to demonstrate critical thinking to construct holistic financial planning approaches that address complex client needs.

    Assessment Criteria for Exit Level Outcome 5:
  • Provide the comprehensive financial needs analysis to offer advice based on regulatory requirements and client needs.
  • Explain the features, benefits, and risks of various financial products to demonstrate understanding of the structure, purpose, and suitability within the financial services environment.
  • Analyse the client financial goals and risk profiles to demonstrate the ability to match appropriate financial products and solutions that align with client needs and objectives.
  • Evaluate the financial product alternatives and decisions to demonstrate informed judgment and ethical consideration in product selection consistent with regulatory standards and professional codes.

    Assessment Criteria for Exit Level Outcome 6:
  • Analyse the market conditions, regulations, and financial products to provide effective solutions tailored to the client's needs.
  • Analyse the market conditions and regulatory environments to demonstrate understanding of how economic trends, interest rates, inflation, and policy changes affect client financial planning decisions.
  • Evaluate the investment and risk products to demonstrate the ability to identify suitable financial instruments that address client objectives, risk tolerance, and time horizons.
  • Develop client-centred financial solutions to demonstrate the capacity to integrate market analysis, product knowledge, and regulatory considerations into effective, compliant, and ethical financial advice.

    Assessment Criteria for Exit Level Outcome 7:
  • Client feedback and re-evaluation process is implemented to ensure ongoing suitability of financial advice and compliance with regulatory standards.
  • Monitoring systems and feedback mechanisms are explained to demonstrate understanding of the role in ensuring continuous client engagement, plan relevance, and service quality.
  • Client performance data and feedback are analysed to demonstrate the ability to identify variances between planned and actual outcomes in financial plans.
  • Re-evaluation and adjustment processes are implemented to demonstrate continuous improvement in client financial strategies, ensuring responsiveness to life changes, market shifts, and regulatory updates.

    Assessment Criteria for Exit Level Outcome 8:
  • Implement the business management operation in accordance with compliance requirements and financial planning processes.
  • Describe the business management principles and operational frameworks to demonstrate understanding of effective business planning, organisational structures, and workflow processes within a financial services context.
  • Apply the operational processes and resources to demonstrate the ability to establish efficient business practices that align with strategic goals, client service standards, and compliance obligations.
  • Evaluate the compliance and governance requirements to demonstrate accountability in maintaining ethical business operations consistent with Financial Advisory and Intermediary Services (FAIS), Financial Intelligence Centre (FIC) Act, POPIA, and other regulatory frameworks.

    Integrated Assessment
    MANCOSA's Assessment Strategy aligns with the Council on Higher Education Accreditation Criteria (2012), the National Policy and Criteria for Designing and Implementing Assessment for NQF Qualifications and Part-Qualifications and Professional Designations in South Africa (SAQA, 2014).

    Integrated assessment at MANCOSA requires careful consideration in implementing formative and summative assessment methods, which offer an inclusive and holistic view of learners' learning. Assessments are aligned with the pre-defined learning outcomes per module culminating with the qualification exit level outcomes. Formative and summative assessments are diverse in nature, and these encompass knowledge check questions, case studies, and scenario-based questions. Formative assessments allow for regular feedback to learners, highlighting areas of success and improvement. Summative assessments evaluate learner learning after a learner's learning journey. Imperative to integrated assessments is the provisioning of feedback to not only learners but also internally, whereby the results of assessments play a critical role in informing the development of future assessments, assessment practices and the continuous improvement of the qualification.

    Assessments at different NQF Levels
    The institution has recognised a change in its learner profile and more significantly in the learning needs of learners, nationally and internationally. Correspondingly, there have been several advancements in education technology that better support learner success. In pursuit of global relevance and enhanced learner success, the institution has taken the decision to participate in this global trend and will initiate the natural progression from distance to online for its qualifications. To this end, the institution has undertaken a review of its Assessment Strategy. The Assessment Strategy is outlined within the institution's Assessment Policy.

    Knowledge Check Questions and Case Study form part of the Assessment Strategy for the qualification. The core purpose is for the learner to develop and demonstrate an understanding of key concepts, terms, and theories. The knowledge checks grant learners additional opportunities to be assessed and get feedback for continuous improvement and therefore carry a 10% weighting each - ultimately enhancing the learning experience and supporting a philosophy of life-long learning. The case study's core purpose is for the learner to develop and demonstrate an understanding of key concepts, terms, and theories. The case study grants learners' additional opportunities to be assessed and get feedback for continuous improvement and as a result have a 30% weighting - ultimately enhancing the learning experience and supporting a philosophy of lifelong learning. Exams are stressful and often regurgitation exercises that do not contribute to the philosophy of lifelong learning. In support of the lifelong learning philosophy, MANCOSA has elected to introduce an online, open-book examination, termed an Online Summative Assessment (OSA), as the summative assessment for the modules at this level. This is in line with the institution's commitment to continuous improvement aligned with modern pedagogical theory. These summative assessments will allow learners to synthesise their experiences and knowledge and apply these to practical scenarios. The summative assessments have a weighting of 60% whilst the remainder (40%) is from the formative assessments.

    Formative Assessment:
  • Formative Assessment 1 (Knowledge Check Quiz 1) - 10%
  • Formative Assessment 2 (Case Study/Scenario) - 30%

    Summative Assessment:
  • Summative Assessment - 60%

    The final mark is calculated as follows:
  • Formative Assessment 1 (Knowledge Check Quiz 1) - 10%
  • Formative Assessment 2 (Case Study/Scenario) - 30%
  • Summative Assessment - 60%

    To pass a module, the following requirements must be met:
  • The compulsory completion of ALL assessment activities.
  • To pass a module, a sub-minimum of 50% is required in each form of assessment, and a final combined mark of 50% is required.
  • Learners are required to attempt formative assessments 1 and 2 and achieve a combined average of at least 50% before writing their Online Summative Assessment. 
    		•

    INTERNATIONAL COMPARABILITY 
    This qualification was compared to the following international qualifications:

    Country: New Zealand
    Institution name: Massey University, New Zealand
    Qualification title: Graduate Diploma in Business Studies (Personal Financial Planning)

    Purpose:
    The Graduate Diploma in Business Studies (Personal Financial Planning) provides a university-level education in financial planning. This qualification satisfies the education requirements for becoming a Certified Financial Planner Professional with the professional body Financial Advice New Zealand (other non-educational requirements are required). This is an undergraduate diploma, designed for learners who do not have a degree in the subject the learner wishes to pursue. The graduate diploma is a bridging tool to gain the equivalent of an undergraduate major in a specific area. This qualification allows learners to articulate into postgraduate study.

    Learning Outcomes:
  • Discuss the personal financial planning process and the environment in which it takes place.
  • Explain the key concepts of personal financial planning.
  • Describe the investment process and the sources of information and advice available to investors.
  • Assess ethical issues with respect to providing personal financial planning advice.

    Content/modules:
  • Estate and Tax Planning.
  • The Financial Planning Process.
  • Financial Institutions and Markets.
  • Introduction to Investments.
  • Financial Advice Implementation.
  • Applied Personal Financial Management.
  • Investment Analysis.
  • Personal Risk Management.

    Similarities:
  • The NZ qualification compares favourably with the SA qualification as both consist of a total of 120 credits.
  • The SA qualification and the NZ qualification are both one (1) year qualifications.
  • The SA qualification aligns with the NZ qualification in terms of the type of learners the qualification targets, as both qualifications target learners who already have a qualification and want to pursue higher job statuses or a bridging tool.

    Differences:
  • The NZ qualification has prerequisites and corequisites, whereas the SA qualification does not have prerequisites and corequisites.
  • The NZ qualification is offered via a contact mode of delivery, whereas the SA qualification is offered via distance learning supported by online learning.
  • The NZ qualification allows direct entry into postgraduate qualifications, whereas the SA qualification primarily serves as a skills development and upskilling qualification.

    Country: United States of America
    Institution name: Boston University
    Qualification title: Certificate in Financial Planning
    Credits: 161

    Purpose:
    The Certificate in Financial Planning prepares practitioners for best practices in the field. The curriculum provides a solid academic foundation for the rigorous Certified Financial Planner Certification Examination, while building the core competencies necessary to work independently with clients. The qualification covers all CFP Board principal topics and explores a variety of financial planning techniques, practices, and strategies that can be applied to real client situations. The flexibility of the qualification allows learners to set their own schedules and enrol in online courses, while earning a Boston University Certificate in Financial Planning.

    Learning Outcomes:
  • Analyse information, construct personal financial statements, and understand the elements of a written financial plan, including implementing, monitoring, and reviewing the plan.
  • Recognise and protect clients from exposures to risk, and conduct an insurance-needs analysis.
  • Discuss taxation and the taxation for entities such as sole proprietorships, partnerships, LLCs, and corporations.
  • Conduct a retirement-needs analysis and the key factors that affect plan selection for business owners.
  • Explore investment planning topics, including the client's investment goals, time horizon, risk tolerance, and tax situation, taken into consideration when building an investment portfolio.
  • Understand estate planning and the various strategies and techniques available for creating an effective estate plan.
  • Construct a plan according to CFP Board's Financial Planning Practice Standards and client objectives.

    Content/modules:
  • Introduction to Financial Planning.
  • Financial Planning Risk Management.
  • Financial Planning Investments.
  • Tax Planning.
  • Retirement Planning and Employee Benefits.
  • Estate Planning.
  • Capstone Course in Financial Planning.

    Similarities:
  • The Certificate in Financial Planning compares favourably with the SA qualification as both modes of delivery are distance learning.
  • Both the USA qualification and SA qualification are offered to the same target learners who want to pursue their status in careers and use the certificate as a bridging tool.
  • The SA qualification aligns with the USA qualification as both do not have prerequisite modules.

    Differences:
  • The USA qualification is offered for a duration of 21 months, whereas the SA qualification is a one-year qualification.
  • The USA qualification has a total of 161 credits, whereas the SA qualification has a total of 120 credits.
  • The USA qualification has a capstone course, whereas the SA qualification does not include a capstone course.

    Conclusion:
    To conclude, the Advanced Certificate in Financial Planning qualification demonstrates favourable comparability with international qualifications within the Financial Planning sector. The qualification has been compared to two international institutions, evaluating aspects including duration of the qualifications, target learners, prerequisites, mode of delivery, credits, and modules within the qualifications. From the comparisons, the SA qualification remained favourable in alignment with the similarities and differences. Notably, the Advanced Certificate in Financial Planning qualification is distinctively tailored to the needs of South Africa, reflecting its appropriateness for the specific requirements of the country. 
    		•

    ARTICULATION OPTIONS 
    This qualification provides the following articulation options:

    Horizontal Articulation:
  • Advanced Certificate in Leadership, NQF Level 6.
  • Advanced Certificate in Banking Practice in the Digital Age, NQF Level 6.
  • Possible horizontal articulation options between Sub-Frameworks for this qualification reached the registration end date in December 2025.

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

    Diagonal Articulation:
  • Advanced Occupational Diploma: Financial Administration Manager, NQF Level 7. 
    		•

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2015. 

    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. MANCOSA 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.