Postgraduate Diploma in Financial Planning

Purpose

Learners will be professionally competent to provide financial planning services to a wide range of clients in society and business. Existing and proposed financial services legislation on a national level, and the professionalisation of the financial services environment internationally, have placed a high premium on the provision of sound financial planning expertise. Qualified financial planners are not only in demand nationally in a wide range of legal and economic professions, but through CFP-membership, can gain access to the national and internationally accredited profession of Certified Financial Planner, and presently practise in more than 18 major countries.

Rationale

In 1983 the need to have a proper program for financial advisors and brokers was fulfilled by the introduction of the then called ILPA certificate. The rationale then was to educate, train and assess people in the financial services industry to assure better standards, knowledge levels and professionalism. With the introduction of SAQA and the NQF framework, it was decided by industry to get approval for this program. The institution got approval for the qualification in 2000. The institution was involved with the certificate as quality assurer and moderator up till then. The rationale for the qualification is still to educate, train and assess people in the financial services industry to assure top class standards, knowledge skills and professionalism in the industry. This role is even more important as people in the financial services industry are currently forced by legislation (regulations to Financial Advisory and Intermediary Services Act) to obtain certain qualifications within five years (This is one of the qualifications). This qualification is also the only recognised qualification in South Africa for the International Certified Financial Planner status.

Recognition of Prior Learning (RPL)

The institution conducts RPL in terms of the policy and guidelines of the institution to recognise other forms of formal, informal and non-formal learning and experience.

In cases where learners do not comply with the formal admission requirements, the institution applies its RPL policy.

Relevant experience confirmed by prior learning assessment will be considered, on condition that it is assessed as equal to a formal 360 Credit qualification.

Entry Requirements

The minimum entry requirement for this qualification is

• Bachelor of Commerce in Financial Planning, NQF Level 7.
• Advanced Diploma in Financial Planning, NQF Level 7.

This qualification consists of the following compulsory modules at NQF Level 8 totalling 160 Credits.

Compulsory Modules at Level 8, 160 Credits

• Financial Planning Environment, 10 Credits.
• Personal Financial Planning, 10 Credits.
• Corporate Financial Planning, 10 Credits.
• Case study, 10 Credits.
• Financial Planning environment, 30 Credits.
• Personal Financial Planning, 30 Credits.
• Corporate Financial Planning, 30 Credits.
• Case study, 30 Credits.

1. Apply essential financial planning expertise and knowledge in financial planning for the benefit of clients and society.
2. Establish a planner/client relationship by explaining concepts and services and client responsibilities - all within the parameters of professional conduct.
3. Assess a client profile, obtain documented personal information and determine the current financial status of a client.
4. Determine the financial goals (capital risk and investment needs) of a client.
5. Present a plan to a client for approval and agreement.
6. Implement, manage and monitor such plan within the ethical constraints of the profession, testing effectiveness and recommending change where necessary.

The following Associated Assessment Criteria are used in an integrated manner across all Exit Level Outcomes

• Learners will have to provide evidence, in the various learning modules in the different prescribed fields of financial planning, of attaining the required knowledge and expertise by.
• Presenting and analysing hypothetical case studies and proposals in financial planning.
• Writing assessments of client needs with suggested strategies to address those needs.
• Drafting investment and other financial plans with due regard to financial risks, applicable regulatory and legislative requirements, investment options and the influence of changing economic conditions and markets.
• Write proposals for implementation and monitoring of such plans.

Integrated Assessment

A variety of continuous assessment case studies, proposals, assignments, financial plans and summative assessments will be integrated into learning.