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 UNIT STANDARD: 

Investigate the range of options available for wealth management 
SAQA US ID UNIT STANDARD TITLE
243134  Investigate the range of options available for wealth management 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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 unit standard replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
113914  Investigate the range of options available for wealth management  Level 4  NQF Level 04   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners in a financial services environment who require a basic introduction to investments. It will add value to Healthcare Benefits Administrators, Trainee Financial Planners, Intermediaries, Product Developers, Coordinators of Medical Schemes, Financial Call Centre Agents, Trustees and Principal Officers of medical schemes and retirement funds. It complies with the current legislated practices in giving financial advice.

The qualifying learner is capable of:
  • Analysing the different types of risk associated with the needs of a specific individual.
  • Describing insurance based options available for wealth management.
  • Describing investment type options available for wealth management.
  • Applying technical knowledge and skill to propose a financial solution for a selected client. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Types of risk include, but are not limited to, risks associated with property, untimely death, disability, health events, injury, and long term planning for retirement and liability.
  • Long term insurance products include, but are not limited to, endowments, sinking fund, retirement annuities, life insurance, disability insurance, dread disease, funeral insurance and annuities.
  • Comparison of Long-Term products includes, but is not limited to, fees, costs, charges, commission, advantages and disadvantages of each product.
  • Investment options include, but are not limited to, participatory interest in collective investment scheme portfolios, fixed deposits, equities, bonds and debentures.
  • Recommended products include, but are not limited to insurance, investment and bank products.
  • Risk includes upside and downside risk.
  • Personal needs include he needs of the family and the risk of not planning for those needs.
  • Presenting a proposal includes techniques to deal with objections.
  • Documents include the reports and records required under the Financial Advisory and Intermediary Services Act (FAIS). 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse the different types of risk associated with needs of a specific individual. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A client's personal and financial situation is analysed to identify potential risks and determine current and future needs. 

    ASSESSMENT CRITERION 2 
    Questions are asked to establish the needs of the client based on the current financial situation. 

    ASSESSMENT CRITERION 3 
    Gaps between the client's present and projected financial position are identified in order to propose a financial solution. 

    ASSESSMENT CRITERION 4 
    The concept of risk in financial planning is explained and an indication is given of the different types of risk that could potentially affect an individual. 

    ASSESSMENT CRITERION 5 
    Potential events in a client's life cycles are identified and related to time horizons and an indication is given of why it is necessary to revisit a needs analysis regularly. 

    SPECIFIC OUTCOME 2 
    Describe insurance based options available for wealth management. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of insurance is explained with reference to term, insurable interest, contractual obligations, and the legal environment that regulates insurance options. 

    ASSESSMENT CRITERION 2 
    A selection of Long-Term insurance products is analysed and compared with reference to the benefits and features and the potential of the product to meet a specific insurance need of an individual. 

    ASSESSMENT CRITERION 3 
    Criteria used to underwrite Long-Term products are identified and an indication is given of how the individual criteria impact on the acceptance of cover and rate. 

    SPECIFIC OUTCOME 3 
    Describe investment type options available for wealth management. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Investment options are compared in terms of underlying asset class, liquidity, return, legal and tax implications, volatility and the time horizon linked to each. 

    ASSESSMENT CRITERION 2 
    Products in which insurance and investment features are combined are investigated with in terms of the rules of combination and the advantages and disadvantages of this type of product. 

    ASSESSMENT CRITERION 3 
    Selected retirement annuities are analysed and compared in terms of the underlying investments, costs, fees, commission, risk and return. 

    ASSESSMENT CRITERION 4 
    Defined benefit and defined contribution retirement funds are compared in terms of funding basis and investment risk. 

    ASSESSMENT CRITERION 5 
    The concept of an annuity is explained and an indication is given of the difference between voluntary purchase annuities and compulsory purchase annuities. 

    ASSESSMENT CRITERION 6 
    The advantages and disadvantages of provident funds, pension funds and annuity funds are compared in terms of tax implications on contributions and proceeds. 

    SPECIFIC OUTCOME 4 
    Apply technical knowledge and skill in order to propose a financial solution for a selected client. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The results of a needs analysis are interpreted and a plan to address the identified needs and risks is proposed and substantiated with reference to the recommended products, how they function and how they address the problem. 

    ASSESSMENT CRITERION 2 
    The proposal is presented to the client and an indication is given of the documentation required for compliance. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is capable of identifying and solving problems and making decisions in interpreting a needs analysis and proposing a financial solution for a specific client. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is capable of communicating effectively in presenting a proposal to a client and producing the necessary documentation. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is capable of seeing the world as a set of related systems in relating risks, needs and time horizons. 

    UNIT STANDARD CCFO CONTRIBUTING 
    The learner is capable of demonstrating cultural sensitivity is dealing with a client and proposing a solution to meet specific needs. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    This unit standard replaces unit standard 113914, "Investigate the range of options available for wealth management", Level 4, 5 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  66613   Further Education and Training Certificate: Wealth Management  Level 4  NQF Level 04  Reregistered  2023-06-30  As per Learning Programmes recorded against this Qual 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    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. African Resources & Financial Training (Pty) Ltd 
    2. CKP Development Agency (Pty) Ltd 
    3. De Vries Management & Training Services cc 
    4. Faisit (Pty) Ltd 
    5. Investmentwise (Pty) Ltd 
    6. Ray Strodl Consulting (Pty) Ltd 
    7. RJM Educational Consulting (Pty) Ltd 
    8. Sanlam Life Insurance Ltd 
    9. The Graduate Institute of Financial Sciences (Pty) Ltd 
    10. Umfolozi FET College - Central Office 



    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.