Advanced Certificate in Financial Planning

Purpose

This qualification is an undergraduate qualification that offers a combination of theory and practice in the area of financial services. Qualifying learners will develop:

• An integrated conceptual understanding, synthesis and application of specific issues in financial planning.
• Research skills, financial planning skills as well as skills in communication.
• Skills that relate to advice on financial services products.

Rationale

The Qualification aims to

• Contribute to regional and national goals by facilitating capacity building and human resource development.
• Empower learners with financial planning knowledge, skills and competencies necessary to function and progress in a financial services related field.
• Recognise and cater for the career and economic needs of learners who are in employment.
• Meet the needs of learners in a variety of positions in the financial services industry.

Recognition of Prior Learning

This qualification may be obtained in wholly or in part through the Recognition of Prior Learning.

In the cases where prior learning is to be recognised for purposes of access to the qualification

• It is assumed that the learning derived from work or life experience will be a major element in the profiles of non-standard entrants primarily by means of an examination of their Curriculum Vitae (CV).
• Such 'non-standard' learners will be selected on the recommendation of a senior manager from their organisation/company.
• Where appropriate, interviews will also be conducted to assess the applicants. Some of the key criteria that will be used in evaluating 'non-standard' applicants include:

> The applicants' motivation, maturity and realistic approach to their studies.

> Job description, covering relevant area of work, giving examples of tasks carried out, possibly supplying references.

> The nature and level of life/work experience and prior study, and the learning which has resulted from such experience.

> Details of in-company short courses, length, content of material covered, standard achieved.

> The clarity of the applicant's educational goals and objectives.

> The extent to which the applicant can provide evidence of the threshold skills and knowledge for the qualification.

Where prior learning is recognised for advanced standing, credit will be given for prior certificated learning in accordance with established practice at South African higher education institutions. The amount of 'specific' credit granted is dependent on the match between prior learning and award towards which the intended qualification leads.

Entry Requirements

The minimum level of attainment required for entry into this qualification is a

• A relevant Higher Certificate.

Or

• An equivalent qualification.

In addition to the above admission criteria, the following will also be considered

• Work experience.
• A detailed motivational letter and CV.
• Prior learning.

This qualification consists of six compulsory modules all at NQF Level 6 totalling 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.
• Integrative Module (Project), 20 Credits.

A learner attaining this qualification will be able to

1. Describe the financial planning process in detail.
2. Describe, explain, analyse and synthesise financial planning concepts.
3. Analyse a variety of products and make an informed decision based on the client's needs and suitability of the product to the need.
4. Provide a comprehensive financial needs analysis to a client.
5. Record the advice process as per regulatory requirements.
6. Analyse market conditions, regulations, investment products, risk products and provide solutions to clients based on their financial need.
7. Implement a monitoring process for client feedback and re-evaluation.
8. Provide and implement a business management operation in line with FAIS compliance requirements.

The Associated Assessment Criteria are applied in an integrated way to some or all of the Exit Level Outcomes

• Theory and principles are applied in a work-based context.
• Appropriate technology is utilised in various communication modes.
• Knowledge of the financial services sector is demonstrated.
• Research skills are displayed in solving work related problems.
• Knowledge acquired is communicated.
• An understanding of how to manage resources and processes is demonstrated in a business context.
• Ideas and interests are articulated and promoted through effective communication in written modes.
• An understanding of socio-economic challenges in South Africa is demonstrated.
• An ability to propose solutions to problems is demonstrated.

Integrated Assessment

The learner's competencies will be assessed in an integrated way utilising both formative and summative assessments.

Assessment centres on

• The extent to which the learner has grasped the basic concepts.
• The application of theory to a practical context.
• The methods of research used.
• A balance between theory and practice and its relevance to the level of the qualification.
• The use of appropriate technology to ensure effective communication of ideas.

Assessment methods measure the extent to which the learner has achieved competence in the different areas of study delivered through modules.

These assessment methods include

• Case studies.
• Report writing.
• Interpretative and analytical problem solving in the written examination.
• Work based assignments.
• Self assessment activities in the course material.