Postgraduate Diploma in Financial Planning

Purpose

The purpose 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 research based Postgraduate study in the field by developing research and reporting skills. The learner should be able to reflect on their decisions and applications to assess the effect thereof in the holistic context of financial planning as a practice at an advanced level.

Rationale

There is a dire need to improve financial planning for business and individual in the country to stimulate growth of the economy. It becomes obvious that financial understanding has been attained when measurable financial goals are set, the effect of each financial decision is understood, the financial situation is periodically evaluated, financial planning is done as soon as possible with realistic expectations and ultimately when one realises that only he or she is fully in charge of it. This will be possible with the advice from an expert in the field. The Financial Planner with competencies in analysing, interpreting and applying financial planning principles will capable of providing professional financial advice. The Postgraduate Diploma in Financial Planning also provides a basis for further professional studies and will prepare learners to write the professional membership examinations to be registered as a Certified Financial Planner by the Financial Planning Institute of Southern Africa (FPI).

Recognition of Prior Learning (RPL)

Access to the qualification can also be provided in terms of the university's RPL policy and its admission criteria stipulated by Senate. In the RPL process learners have to undergo a Portfolio Development Course (PDC) to support the learner's admission. The PDC will focus on written submission explaining the reasons for the candidates' interest Financial Planning as an adjunct to their existing professional competencies.

Entry Requirements

The minimum requirement is

• A Bachelor's Degree.

Or

• An Advanced Diploma at NQF Level 7.

This qualification comprises of compulsory modules at Level 8 totalling at 120 Credits.

Compulsory Modules, Level 8, 120 Credits

• Tax and Estate Planning, 30 Credits.
• Research and Communication in Finance, 15 Credits.
• Insurance Long Term, 15 Credits.
• Investment Management, 15 Credits.
• Insurance Short term, 15 Credits.
• Retirement Planning, 15 Credits.
• Contemporary Management Topics, 15 Credits.

1. Apply their knowledge of and insight into the theory and practice of financial management to complex and/or real-life problems.
2. Implement and advise on financial strategies in a local and international context to ensure wealth creation.
3. Compile, evaluate and use financial information to support strategic decision making and strategic control.
4. Present an understanding of the complex relationships an organisation has with its stakeholders, industry, and the local and global environments.
5. Provide holistic employee benefits advice with regards to registered and approved retirement funds.

Associated Assessment Criteria for Exit Level Outcome 1

• Theoretical principles of problem identification and solution in the finance field are accurately applied and reflect on the application thereof.
• Financial, economic and business sciences are integrated to develop a theoretical and practical understanding of the international, national and regional business and financial environment.
• Work effectively in teams applying relevant theory and reflecting on the implementation thereof.

Associated Assessment Criteria for Exit Level Outcome 2

• An understanding of how the stork markets locally and internationally works is demonstrated.
• Different investment instruments of the stock market are identified and compare.
• Risk handling methods to mitigate risks are appropriately identified, evaluated and selected.
• Proficiency is applied in the principles and methodology of personal risk management and to differentiate between the creation and preservation of wealth.
• Risk-based approach to distinguish between different levels of risk is applied.

Associated Assessment Criteria for Exit Level Outcome 3

• Different strategies to acquire multidisciplinary capabilities in the financial planning field explored and applied.
• Resources and opportunities in the financial planning field are effectively and responsibly organised.
• Different strategies to acquire multidisciplinary capabilities in the financial planning field explored and applied.
• The regulations within the financial environment in which financial planners operate are understood and observed.

Associated Assessment Criteria for Exit Level Outcome 4

• Different role players are communicated with orally or in writing by applying professional communication principles.
• Appropriate technology (computer software) is used to solve problems in the financial planning environment.
• Acceptable social and cultural sensitivity is practised towards people of different social, cultural and economic backgrounds.

Associated Assessment Criteria for Exit Level Outcome 5

• All concepts relating to registered retirement fund vehicles are applied and evaluated.
• Financial markets and investment instruments relevant in the current economic climate are identified.
• Responsible citizenship is practiced through utilising a holistic approach to the application of professional ethics and values in the financial planning field.

Integrated Assessment

Assessment takes place according to strict assessment criteria as outlined in the prescribed module descriptor. Lecturers set assignments, class tests and the final assessment papers in terms of module outcomes viz. Adequate level of relevant text comprehension to be demonstrated, adequate range of relevant sources to have been accessed and relevant problems to have been grasped, and appropriate theoretical and practical assignments and case studies as well as solutions to problems to have been presented This ensures that assessments maintain a certain standard in accordance with the standards as set out in the syllabus. An external moderator moderate's assessment papers set. The same principle applies to the final marking of the assessments. This ensures that skills and concepts are mastered, thereby maintaining a standard of assessment relevant to this offering.