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
98919  Postgraduate Diploma in Financial Planning 
ORIGINATOR
University of KwaZulu-Natal 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  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  128  Not Applicable  NQF Level 08  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered-data under construction  EXCO 0324/24  2024-07-01  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2031-06-30  

Registered-data under construction

The qualification content is currently being updated for the qualifications with the status “Registered-data under construction” or showing “DETAILS UNDER CONSTRUCTION” to ensure compliance with SAQA’S Policy and Criteria for the registration of qualifications and part-qualifications on the National Qualifications Framework (NQF) (As amended, 2022). These qualifications are re-registered until 30 June 2027 and can legitimately be offered by the institutions to which they are registered.

 

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.  

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
The purpose of this qualification is to provide learners with advanced financial planning knowledge and skills. A qualified learner will be able to:
  • Understand the theoretical framework and practical application of financial management within the context of financial planning.
  • Demonstrate critical thinking in decision making that integrates risk management and ethics, financial management, wealth management, tax and estate planning, retirement planning, law of contract, agency and insurance while developing strategies, recommendations and financial plans for clients using real world situations and facts.
  • Understand, analyse, research, discuss, evaluate, give correct advice concerning, and generally deal effectively with, issues of contract law, insurance and agency and legal disputes thereof.
  • Develop a critical understanding of the value of research in order to build business knowledge and theory that generates new questions as well as providing answers.
  • Develop strategies and use techniques for wealth accumulation and withdrawal during retirement years, taking into consideration the structure and impact of public and private retirement plans on the client's financial plan.

    Rationale:
    The Postgraduate Diploma in Financial Planning is designed to provide knowledge and skills to learners in order to meet the growing need for financial planners in a modern economy. The need for financial planners has become more evident in Southern Africa due to the general low financial literacy levels of the population. The National Treasury through its Consumer Financial Education Policy Document acknowledges that there is a shortage of Financial Planners in South Africa. Existing qualified learners, on the other hand, fall short of financial planning skills and knowledge required by the Financial Planning Institute of Southern Africa (FPI) for the awarding of their professional designations. As financial markets become more complex than before, the need for financial planners escalates. This qualification enables finance and investment management learners to have an opportunity to enhance their skills and knowledge in financial planning as provided by this FPI accredited qualification. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Recognition of Prior Learning (RPL):
    The university policy on RPL stipulates that RPL may be used to grant access to the qualification for prospective students who do not meet the admission criteria and/or to award credits towards a qualification for learners who have acquired prior relevant learning either formally or informally.
    The following are principles on which Prior Learning will be recognised:
  • Assessment must recognise learning from experience, and not simply experience.
  • Assessment of learning must be based on evidence.
  • The learning assessed must be related to the purpose for which the recognition is required.
  • Learning must be assessed against the learning outcomes (and not primarily the content) of specific qualifications and/or modules.
  • The learning must be assessed as sufficient and current.
  • Quality assurance procedures must guarantee the integrity and credibility of the assessment.

    Using these principles, candidates seeking to enter the post-graduate qualification must demonstrate their Prior Leaning experience:
  • In an interview with the qualification director/qualification team.
  • By presenting a portfolio of their work experience.
  • Writing a formal entrance test.

    Entry Requirements:
    The minimum entry to this qualification is a Bachelors' Degree at NQF Level 7 or comparable qualification. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification consists of compulsory modules at NQF Level 8 totalling 128 Credits.
    Modules:
  • Financial Management, 16 Credits.
  • Wealth Management, 16 Credits.
  • Integrated Financial Planning, 16 Credits.
  • Retirement Planning, 16 Credits.
  • Tax and Estate Planning, 16 Credits.
  • Law of Contract, Insurance and Agency, 16 Credits.
  • Research Methodology, 16 Credits.
  • Risk Management and Ethics, 16 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Understand the theoretical framework and practical application of financial management within the context of financial planning.
    2. Demonstrate critical thinking in decision making that integrates risk management and ethics, financial management, wealth management, tax and estate planning, retirement planning and law of contract, agency and insurance while developing strategies, recommendations and financial plans for clients using real world situations and facts.
    3. Understand, analyse, research, discuss, evaluate, give correct advice concerning, and generally deal effectively with, issues of contract law, insurance and agency and legal disputes thereof.
    4. Develop a critical understanding of the value of the research endeavour in order to build business knowledge and theory that generates new questions as well as provide answers.
    5. Develop strategies and use techniques for wealth accumulation and withdrawal during retirement years, taking into consideration the structure and impact of public and private retirement plans on the client's financial plan. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Basic financial planning information and principles are understood.
  • Comprehensive understanding of the academic literature relating to various aspects of personal financial management is demonstrated.
  • Appropriate techniques to perform quantitative and qualitative analyses required in personal financial management are applied.
  • Data is collected, analysed and synthesised accurately, and appropriate quantitative and qualitative methods are used to conduct a meaningful analysis and to reach appropriate financial management conclusions or recommendations.
  • Information, ideas, problems and solutions on financial planning matters to both specialist and non-specialist audiences are communicated and presented.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Appropriate techniques are applied to perform quantitative and qualitative analyses required in financial planning.
  • Problematic scenarios are identified and appropriate financial redress strategies are developed.
  • Information, ideas, problems and solutions on financial planning matters are communicated and presented to both specialist and non-specialist audiences.
  • Financial Planner abilities which include the collection of client information, analysis and synthesis of information are applied.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Requirements of the South African Law of Contract and Agency are understood.
  • The inter-relationship between contract law, insurance and agency principles are understood, explained and evaluated.
  • Solutions to factual problems involving contracts are provided and analysed by identifying the issue, determining the relevant principle of contract law, and applying the principle correctly to facts.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Comprehensive understanding of epistemological underpinnings of research writing is demonstrated.
  • The methods of conducting and structuring competent literature review are applied.
  • Essential linkages between theory and research findings are identified.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • Comprehensive understanding of the academic literature relating to retirement planning is demonstrated.
  • Appropriate techniques to perform quantitative and qualitative analyses required in retirement planning are applied.
  • Data is collected, analysed and synthesised accurately, and appropriate quantitative and qualitative methods are used to conduct a meaningful analysis and to reach valid retirement planning conclusions or recommendations.
  • Information, ideas, problems and solutions on financial planning matters are communicated and presented to both specialist and non-specialist audiences.

    Integrated Assessment:
    Learning outcomes will be achieved through seminars, presentations, problem solving, case studies, mini projects, tests and examinations. The examination will be summative assessment while the rest will be part of formative assessment. Seminars, presentations, problem solving, case studies and mini-projects will ensure that learners collect, analyse and synthesise information in a manner that allows them to perform financial planning functions while achieving core financial planning competencies. Tests and the final examination will further assess the individual learner's ability to independently solve problems and develop appropriate financial planning strategies and solutions for clients. One of the modules, Integrated Financial Planning, will offer a platform for outcomes to be assessed in an integrated manner as it is a capstone module. This module will enable learners to apply and demonstrate skills and competencies from other modules offered in the qualification. 
    		•

    INTERNATIONAL COMPARABILITY 
    Financial Planning qualifications internationally are usually linked to the awarding of a professional designation or to the awarding of a licence or permission to practice as a financial planner. This qualification and similar international ones are used for the awarding of the Certified Financial Planner designation and all comply with the minimum standards for that designation.

    San Diego State University:
    The San Diego State University offers a Bachelor of Science in Financial Services with a Certificate in Personal Financial Planning. This qualification is registered with the Certified Financial Planner Board of Standards. The qualification prepares learners for successful careers in the banking, insurance, and securities industries and are also prepares them to become financial planners.

    According to the San Diego State University, "A financial planner is often a counsellor. He/she may answer specific questions or solve a particular financial problem a client may have. Alternatively, a planner may provide a global set of recommendations reaching into every aspect of their client's financial life. In all these cases, planners must integrate all fields of financial concern into their advice: liquidity planning, risk management, tax, investment and estate planning. They must be able to deal with people sensitively in an area that most clients would rather not discuss. You must be able to instil the desire to take action in an area of life where fear and ignorance is rampant.

    A planner must be able to understand complex social and economic trends, a huge variety of products and services, and the complexities of illogical tax law, unfathomable estate law and arcane investment theory. He must possess both the people skills and technical aptitude necessary to practice financial planning competently".

    Kaplan University has a distance-learning programme structured as follows:
  • Personal Financial Process and Data Gathering.
  • Personal Financial Statements, Budgeting and Personal Financial Management.
  • Regulation of Financial Planning.
  • The Economic Environment.
  • Business Planning.
  • Property Legal Characteristics.
  • Planning for Life.

    This is a one-year Diploma. The legislation of the country is addressed in the coursework. The degree of difficulty, notional learning time, the outcomes and assessment criteria are on a par with this qualification.

    The programme may be compared favourably to:
  • Graduate Diploma of Financial Planning offered by the Financial Services Institute of Australasia (Finsia).
  • The Certificate in Financial Planning for access to the CFP award is offered in England, Northern Ireland and Wales.
  • Certificate in Financial Planning offered by Florida State University which is accredited by the Southern Association of Colleges and Schools (SACS), and registered with CFP Board in Denver, Colorado.
  • Postgraduate Diploma in Financial Services; Chartered Institute of Technology, Singapore.
  • Graduate Diploma in Financial Planning; University of the Sunshine Coast, Queensland, Australia.
  • Postgraduate Diploma in Personal Financial Planning; University of Waikato, New Zealand.

    Conclusion:
    This qualification compares favourably with the qualifications offered internationally for certified financial planners. The qualifications provide a learner with financial planning skills. Learners are taken through an intensive process of being registered as a Certified Financial Planner. One of the attributes of the financial planning that stands out in all qualifications is interpersonal skills. Research studies also form an integral part of the qualifications. 
    		•

    ARTICULATION OPTIONS 
    This qualification offers no direct horizontal or vertical articulation opportunities at the University of Kwa Zulu Natal except for possible admission to general qualifications such as:

    Horizontal Articulation:
    Postgraduate Diploma: Public Financial Management, Level 8, (ID: 92990).

    Vertical Articulation:
    Master of Administration, Level 9, (ID: 72901).

    This qualification allows possibilities for both horizontal and vertical articulation with qualifications offered at other institutions provided the student meets the minimum admission criteria. They are:

    Horizontal Articulation:
  • Postgraduate Diploma in Financial Planning, at NQF Level 8.
  • Bachelor of Commerce Honours in Financial Planning, at NQF Level 8.
  • Postgraduate Diploma in Finance Banking and Investment Management, at NQF Level 8.

    Vertical Articulation:
  • Master of Commerce in Investment Management, at NQF Level 9.
  • Master of Commerce in Finance, at NQF Level 9.
  • Master of Management in Finance and Investment Management, at NQF 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.
     
    1. University of KwaZulu-Natal 


    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.