Postgraduate Diploma in Financial Planning

Purpose

The Exit Level Outcomes indicated in paragraph 8 below and repeated here for ease of reference indicate what a student should know and should be able to do after completing this qualification:

• Describe the working of the economic system in both its micro and its macro settings and what the effect on financial planning is.
• Describe and analyze the regulatory environment in which the financial planner operates.
• Describe and analyze the taxation environment in which the financial planner works.
• Draw up each of an investment plan, an estate plan, a retirement plan and an insurance plan for an individual and will also be able to identify the risks and uncertainties to which the individual's financial matters are exposed.
• Draw up a risk management plan for an individual taking into account the risks and uncertainties applicable to that person Students will be able to read and to interpret the financial statements of all forms of enterprise from sole proprietorships to public companies.
• Plan financially according to the analyses made of financial statements for the insurance needs of enterprises and for the financial implications of employee benefit schemes.
• Draw up a financial plan for a business enterprise irrespective of its form of enterprise in which an analysis of the financial statements makes a cornerstone contribution to the plan drawn up for the insurance needs of the enterprise and the plan for the financial implications of the employee benefit schemes.

There is a significant skills shortage in Southern Africa in the financial planning and insurance fields as determined by research conducted by the Insurance Sector Education and Training Authority (INSETA). The offering of this post-graduate diploma is designed to global education standards in order to meet the skills shortage identified.

Rationale

The qualification will be the highest professional qualification in this field available in South Africa and will contribute to the professional competency of financial planners which will consequently make them eligible for professional membership of the Financial Planning Institute of Southern Africa and for accreditation as a Certified Financial Planner� (CFP�). The CPF� professional designation is internationally recognized as the pinnacle of educational achievement in financial planning. The Financial Planning Standards Board (FPSB) is a global body which owns the CFP�mark. In South Africa the Financial Planning Institute is the gatekeeper to the professional accreditation of the CFP�. There is a significant skills shortage in Southern Africa in the financial planning and insurance fields as determined by research conducted by the Insurance Sector Education and Training Authority (INSETA). The offering of this Post-Graduate Diploma is designed to meet the skills shortage identified above according to global education standards.

One of the following

• Appropriate bachelors degree.
• Appropriate NQF Level 6 Qualification.
• Approval from the Dean of the Faculty should appropriate prior learning and experience be demonstrated by the applicant.

Recognition of Prior Learning

Each case will be adjudicated on its own merits and with the approval of the Dean of the Faculty. The university's evolving policy in this regard will at all times be adhered to.

Access to the Qualification

One of the following is required as an entrance qualification for admission

• Appropriate Bachelors Degree.
• Appropriate NQF Level 6 Qualification.
• Approval from the Dean of the Business and Economic Sciences Faculty should appropriate prior learning and experience be demonstrated by the applicant.

Learning components Core only; Number of Credits allocated; NQF Level.

• Financial Planning Environment ; 30 Credits ; NQF Level 7.
• Personal Financial Planning; 30 Credits; NQF Level 7.
• Corporate Financial Planning; 30 Credits; NQF Level 7.
• Case Study; 30 Credits; NQF Level 7.

a. Describe the working of the economic system in both its micro and its macro settings and what the effect on financial planning is.

b. Describe and analyze the regulatory environment in which the financial planner operates.

c. Describe and analyze the taxation environment in which the financial planner works.

d. Draw up each of an investment plan, an estate plan, a retirement plan and an insurance plan for an individual and will also be able to identify the risks and uncertainties to which the individual's financial matters are exposed.

e. Draw up a risk management plan for an individual taking into account the risks and uncertainties applicable to that person Students will be able to read and to interpret the financial statements of all forms of enterprise from sole proprietorships to public companies.

f. Plan financially according to the analyses made of financial statements for the insurance needs of enterprises and for the financial implications of employee benefit schemes.

g. Financial plan for a business enterprise irrespective of its form of enterprise in which an analysis of the financial statements makes a cornerstone contribution to the plan drawn up for the insurance needs of the enterprise and the plan for the financial implications of the employee benefit schemes.

The above Exit Level Outcomes and their Assessment can be broken down per module as follows

1. Module; The Financial Planning Environment

Purpose

• To provide students with a sound knowledge of the regulatory environment and the regulatory legislation pertaining to both personal and corporate financial planning as well as a sound background to the working of the economic system in which financial planning takes place and is regulated. An ethical approach to financial planning and to taxation is to be inculcated with students.

Outcomes

• Describe the working of the economic system in both its micro and its macro settings and what the effect on financial planning is. Students will be able to describe and analyze the regulatory environment in which the financial planner operates. Students will be able to describe and analyze the taxation environment in which the financial planner works.

2. Module; Personal Financial Planning

Purpose

• To provide students with a sound knowledge of how individuals should go about their personal investment planning, estate planning, retirement planning and how to optimize their insurance portfolios and minimize their personal financial risk.

Outcomes

• Draw up each of an investment plan, an estate plan, a retirement plan and an insurance plan for an individual and will also be able to identify the risks and uncertainties to which the individual's financial matters are exposed. Students will be able to draw up a risk management plan for an individual taking into account the risks and uncertainties applicable to that person.

3. Module; Corporate Financial Planning

Purpose

• To provide students with a sound knowledge of how to read and interpret financial statements of business enterprises and to understand how financial planning is related to the results of such readings and interpretations. To enable students to plan the insurance needs of business enterprises. To enable students to plan for the financial implications of employee benefit schemes.

Outcomes

• Read and interpret the financial statements of all forms of enterprise from sole proprietorships to public companies and plan financially according to the analyses made of financial statements for the insurance needs of enterprises and for the financial implications of employee benefit schemes.

4. Module; Case Study

Purpose

• To enable students to apply practically the knowledge of the first three modules to individual cases of personal and of corporate financial planning.

Outcomes

• Draw up a financial plan for an individual or for a business enterprise in which the financial planning environment is incorporated into personal investment planning, estate planning, retirement planning, insurance planning and a personal risk management plan. Students can draw up a financial plan for a business enterprise irrespective of its form of enterprise in which an analysis of the financial statements makes a cornerstone contribution to the plan drawn up for the insurance needs of the enterprise and the plan for the financial implications of the employee benefit schemes.

Integrated Assessment

Theoretical assessment

Module names

• EBF401, EBF402 and EB403.

Assessment methods

• Continuous assessment involves written assignments submitted as well as tests on sections of the work completed to demonstrate the degree of students' grasp of the work done during contact sessions. A final formal written examination of four hours per module will be conducted.

Practical assessment

Module name

• EBF404.

Assessment methods

• One four hour assessment is done in which students must draw up a financial plan for either an individual or for a corporate. This assessment will integrate the knowledge gained in the other modules.

Integrated assessment

Module name

• EBF404.

Assessment methods

• One four hour assessment is done in which students must draw up a financial plan for either an individual or for a corporate. This assessment will integrate the knowledge gained in the other modules.