Bachelor of Commerce Honours in Financial Planning

Purpose

• The aim of the qualification is to develop applied competence and deepen the learner's expertise in the analysis, interpretation and application of financial planning principles and research capacity in the economic environment at an advanced level.
• Learners are also prepared for a career in the practice of financial planning and further learning in researched based postgraduate study in this field by developing research and reporting skills.
• The learners should be able to reflect on their decisions and applications to assess the effect thereof in the holistic context of financial planning as practice at an advanced level.

Rationale for the qualification

• There is a need for qualified Financial Planners in South Africa. Academic institutions currently train learners in the fields of Investment Management, Economics, and Financial Management, but do not include the essential financial planning skills to integrate the various disciplines. Product suppliers within the Financial Industry have expressed a need for graduates that understand the principles of financial planning and have the knowledge to apply it within the economic environment. Learners that complete the Bachelor of Commerce Honours in Financial Planning degree will possess the necessary skill demanded by the market.
• Private individuals also need access to qualified financial planners, as they are dependent on these people to create and build their future wealth to enable them to live and retire independently, without being a burden on society. This course therefore aims to deliver immediate benefits to business and the community. In Gauteng, the financial beacon of South Africa, there is a need in the immediate community for trained financial planners. This qualification will equip the learner to cope within the financial planning environment to meet above-mentioned objectives.

• A well-rounded knowledge base in, and critical understanding of Financial Planning on undergraduate level and the ability to deal with abstract problems.
• The ability to identify and address own learning needs and to interact in a learning group.

Recognition of prior learning

Recognition of prior learning in the case of learners not complying with the formal entry requirements will be conducted in accordance with the policy and guidelines of the University concerning the recognition of other forms of formal, informal and non-formal learning and experience. Recognition takes place only where prior learning corresponds to the required NQF-level, and in terms of applied competencies relevant to the content and outcomes of the qualification. Through recognition of prior learning learners may gain access, or advanced placement, or recognition of status, on condition that they continue their studies at this University.

Access to the qualification

• A Bachelor's degree or related qualification with Financial Planning and Investment Management as major subjects on NQF level 6.

Minimum required credits at a specific level

Core

• 120 (Includes 60 credits for research) , Total: 120.
• NQF Level 7.

No elective or fundamental modules included in the programme as this is a specialisation degree. Learners select a specialisation field before entering the BCom Hons. Fundamentals is done on undergraduate level.

Module/subject

Employee Benefits

• Core and research: 10 credits at NQF level 7 each.
• Total: 20 credits at NQF level 7.

Estate Planning

• Core and research: 10 credits at NQF level 7 each.
• Total: 20 credits at NQF level 7.

Financial Planning Process & Insurance

• Core and research: 10 credits at NQF level 7 each.
• Total: 20 credits at NQF level 7.

Income Tax Planning

• Core and research: 10 credits at NQF level 7 each.
• Total: 20 credits at NQF level 7.

Investment Planning

• Core and research: 10 credits at NQF level 7 each.
• Total: 20 credits at NQF level 7.

Retirement Planning

• Core and research: 10 credits at NQF level 7 each.
• Total: 20 credits at NQF level 7.

Total credits

• Core: 60 credits at NQF level 7.
• Research: 60 credits at NQF level 7.

1. Learners should be able to demonstrate their competence at applying theoretical principles of problem identification and solving in the field of Financial Planning correctly and reflect on the application made on the process of problem solving. (problem solving skills)
2. Learners should be able to plan and execute research in Financial Planning, by gathering, analysing, synthesising and interpreting the relevant information correctly and reflect on the research undertaken (research skills)
3. Learners should be able to demonstrate effective communication competence with the different role players in the Financial Planning field and applying the theoretical principles of communication (oral/written) and reflect on the application made. (communication skills)
4. Learners should develop a theoretical and practical macro vision of Financial Planning nationally and globally in terms of socio-cultural, economic, institutional, technological and political macro factors reflecting on the differences among countries, even countries within the same region. (develop a macro-vision)
5. Learners should be able to organise and co-ordinate resources and opportunities in the field of Financial Planning by applying the relevant theoretical aspects and reflect on the application.(self responsibility skills)
6. Learners should be able to practice acceptable social sensitivity in the relationships with others and work effectively in self-directed teams.(teamship)
7. Learners should be able to utilise appropriate Financial Planning information systems effectively in the environment as a basis for sound decision-making. (technological and environmental literacy)
8. Learners should be able to explore different effective learning strategies to acquire the different competencies of a financial planner. (explore learning strategies)
9. Learners should be able to promote responsible local and global citizenship through their approach towards the holistic application of financial planning capabilities. (promoting citizenship)
10. Learners should be able to practice acceptable social, cultural and aesthetic sensitivity towards the people of the Financial Planning communities and the community at large by applying the appropriate theoretical principles and reflect on the application made within the context of cultural diversity. (cultural and aesthetic sensitivity)
11. Learners should acquire acceptable employment seeking skills for entry into the different sectors of the Financial Planning industry, utilising the theoretical principles and reflect on the application thereof. (employment seeking skills)

1. Learners are able to demonstrate comprehensive and systematic theoretical knowledge in Financial Planning by

• Applying principles and theories.
• The critique of current research.
• Analysing complex real world problems using evidence-based solutions and theory driven arguments.

2. Learners show their ability to engage in research in the field of Financial Planning by

• Independent gathering, analysing, synthesising and interpreting of information.
• Applying relevant research principles using quantitative and qualitative data.
• Reflecting on research by making sound theoretical judgements.

3. Learners are able to communicate effectively when

• Presenting academic professional work using different genres in appropriate context.
• Completing written research-based assignments in the field of Financial Planning.

4. Learners show the capacity to operate effectively in complex, ill-defined contexts when

• Dealing with complex financial planning problems in real-world context.
• Using evidence-based solutions and theory driven arguments.

1. Learners show their ability to organise and co-ordinate resources and opportunities in the field of Financial Planning by:

• Managing research assignments autonomously, professionally and ethically.
• Solving case studies>accepting personal responsibility for their own activities.

6. Learners show their ability to practice acceptable social sensitivity in the relationship with others by

• Working in a self-directed team when completing groupwork assignments.

7. Learners show their ability to utilise appropriate technology in the Financial Planning environment by

• Using information retrieval and processing skills in assignments.
• Analysing quantitative and qualitative data.
• Using technology in class presentations.

8. Learners show their ability to explore different learning strategies by

• Managing a variety of learning tasks autonomously.

1. Learners are able to promote responsible global citizenship, through their approach/attitude towards the holistic application of financial planning capabilities in the environment.
2. Learners are able to practice social, cultural and aesthetic sensitivity towards the people of the different communities and the role players in the Financial Planning industry when:

• Applying theoretical principles within the context of cultural diversity.

1. Learners demonstrate employment seeking skills for entry into the different sectors of the Financial Planning industry by:

• Being able to demonstrate their applied knowledge of financial planning in real-world circumstances.

Integrated assessment

Because assessment practices must be open, transparent, fair, valid, reliable and ensure that no learner is disadvantaged in any way whatsoever, an integrated assessment approach is incorporated into the qualification. Both formative and summative assessment processes are accounted for to monitor progress during the programme and to determine competence at the end of the programme.

- Formative (continuous) assessment practices that will be implemented

> Learners are continuously assessed via discussion groups and class assignments, informal class tests, and formal modular tests in a written mode. They also do research in the form of independent assignments for each module.

- Summative (final) assessment practices

> Integrated assessment will be done by means of a written examination for each module towards the end of the semester.

- Pass requirements that will be implemented

> Learners have to obtain at least 40% in the formative assessment practices in order to gain entrance to the summative assessment. Learners pass a module if they attain at least 40% in the final summative assessment and a final mark of at least 50%. The final mark is calculated by combining the formative and summative marks in a 50:50 ratio. Research forms an integral part of the formative assessment for each module.