Further Education and Training (FETC): Wealth Management (NQF4)

FETC-Wealth-Management-NQF-4

The Qualification is a holistic introduction to Wealth Management and Wealth Creation. It enables intermediaries to understand the Wealth Management environment, the legislative requirements and product-related information. Our qualification is aimed at students with less than four years’ experience, newcomers to the industry, or those who have lots of experience, but would like to brush up on their product knowledge. We developed the Skills Programmes, covered in this qualification, to provide intermediaries with more options to comply with the requirements of the FAIS Act.

WHAT WILL THE QUALIFICATION ENABLE YOU TO DO?

  1. Sell Long-term Category A products (assistance policies including funeral policies), Long-term B1 and B2.
  2. Sell risk policies and guaranteed investments/ savings, recurring policies and annuities other than single premium annuities.

WHO SHOULD ENROL?

Students who require licensing in funeral plans, risk policies, long term B and guaranteed investments.

This qualification is ideal for:

  • Access to the Financial Services Industry.
  • Entry level financial advisors.

Skills programmes covered

The full qualification of 150 credits is divided into Skills Programmes of approximately 30 credits each:

  • Each Skills Programme is an independent programme and one can enrol at any time for these Skills Programmes.
  • This qualification is unit standard based: students will receive credits for each Skills Programme they finish i.e. you do not have to finish the full qualification to receive credits.
  • At least three Skills Programmes are compulsory.
  • Two of the Skills Programmes are mathematics/mathematics literacy and communication literacy: students with a grade 12 certificate with mathematics and two languages present, will be granted possible exemption.
Skills Programme 1
CODE U/S TITLE CREDITS LEVEL TYPE
242584 Demonstrate knowledge and understanding of the Financial Advisory and Intermediary Services Act 2002 (FAIS) (Act 37 of 2002) as it impacts on a specific financial services sub-sector 2 4 E
242593 Explain South African money laundering legislation and the implications for accountable institutions in transacting with clients 3 4 C
119676 Apply skills of customer care in a specific work environment 4 4 E
243137 Demonstrate skills and techniques required to build a relationship with a client in a financial services environment 3 4 E
242655 Demonstrate knowledge and understanding of ethical conduct in a business environment 4 4 C
117129 Apply the regulations for disclosure required that are required as part of the financial sales process 2 4 E
120128 Apply the law of contract to insurance 3 4 E
114966 Explain the types of compulsory statutory insurance in South Africa 2 3 E
117126 Apply knowledge and insight into aspects of the Long-term insurance Act, Act 52 of 1998 2 4 E
114985 Indicate how different needs lead to the development of different Financial Services products 4 3 E
114956 Describe funeral insurance 2 3 E
31
Skills Programme 2
CODE U/S TITLE CREDITS LEVEL TYPE
114970 Manage risk in own life 3 3 C
114960 Investigate the need to provide financially for own retirement 3 3 C
117137 Describe group insured benefits 2 4 E
119478 Analyse the different products available in the Long-term industry and the benefits of each 5 4 E
120124 Demonstrate knowledge of insurable risk 3 4 E
243131 Describe disability insurance solutions in the context of financial planning 4 4 E
243139 Investigate dread disease products and their place in wealth management 2 4 E
243133 Analyse current events reported in the media that could impact on wealth management 10 4 C
32
Skills Programme 3
CODE U/S TITLE CREDITS LEVEL TYPE
117127 Describe and apply the basic principles of personal income tax 3 4 F
117132 Explain basic economics 3 3 C
117156 Interpret basic financial statements 4 4 F
117158 Investigate ways of managing financial risk in own lives 5 4 F
243134 Investigate the range of options available for wealth management 5 4 C
243142 Explain Capital Markets and Capital Market Instruments 2 4 C
243144 Explain the structure of the financial services industry in South Africa 4 3 C
243148 Explain Equity Markets and equity market instruments 2 4 C
243153 Explain basic investment principles 4 4 C
243154 Explain money markets and money market instruments 2 4 C
34
Skills Programme 4
Mathematics
CODE U/S TITLE CREDITS LEVEL TYPE
7468 Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues 6 4 F
9015 Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems 6 4 F
9016 Represent analyse and calculate shape and motion in 2-and 3-dimensional space in different contexts 4 4 F
16

*Note on Skills Programme 4: students who passed mathematics or mathematical literacy as a subject in Grade 12 with symbols A-E may be granted 16 credits through concession against these fundamental unit standards at Levels 3 and 4.

Skills Programme 5
Communication & Additional South African Language
CODE U/S TITLE CREDITS LEVEL TYPE
119457 Interpret and use information from texts 5 3 F
119459 Write/present/sign for a wide range of contexts 5 4 F
119462 Engage in sustained oral/signed communication and evaluate spoken/signed texts 5 4 F
119465 Write/present/sign texts for a range of communicative contexts 5 3 F
119467 Use language and communication in occupational learning program 5 3 F
119469 Read/view, analyse and respond to a variety of texts 5 4 F
119471 Use language and communication in occupational learning program 5 4 F
119472 Accommodate audience and context needs in oral/signed communication 5 3 F
40

*Note on Skills Programme 5: Students who passed English as a first language as a subject in Grade 12 with symbols A-E may be granted 20 credits through concession against the Communication Unit standards at levels 3 and 4. Students who passed an additional South African Language other than the language of business (English) as a first, second or third language as a subject in Grade 12 with symbols A-E may be granted 20 credits through concession against the Communication Unit standards required as a second language at level 3.

Skills Programme 1 – Compulsory
(31 credits)

The majority of these Skills Programmes mainly consist of legislation like FAIS, FICA, Law of contract, Long Term Insurance Act (LTIA) and compulsory statutory insurance. Students will learn to apply skills of customer care, client relationships, needs analyses and funeral insurance.

Skills Programme 2 – Compulsory
(32 credits)

Students will demonstrate knowledge and understanding of insurable risk, describe group insured benefits and disability insurance solutions, analyse Long-term products and the benefits of each and how current events in the media, could impact wealth management.

Skills Programme 3 – Compulsory
(34 credits)

Students will have the knowledge to explain basic economics, capital markets and instruments, equity markets, basic investment principles, money markets and instruments. They will learn to investigate a range of options available for wealth management, describe and apply the basic principles.

Skills Programme 4 – Elective
Mathematics
(16 credits)

Students who have passed mathematics in grade 12 will possibly be granted exemption.
If you are not granted exemption, you will learn to apply knowledge of statistics and probability as well as use mathematics to investigate and monitor the financial aspects of personal/ business issues.

Skills Programme 5 – Elective
Communication and additional SA Language
(40 credits)

Students who have passed two languages in grade 12 will possibly be granted exemption.
If you are not granted exemption, you will learn to read, interpret and use information from texts as well as write and engage in oral communication.

Learning Material

  • Learning material is developed for outcome-based training and is developed in conjunction with industry requirements.
  • Learning material is continuously updated with any changes in the market place.
  • Learning material is easy to access and easy to understand without facilitation.
  • Learning material only available in English.

Skills Programme Fees

E-Learning: (per Skills Programme of ± 30 credits)

2018 fees
Per student Cost per student (excl. VAT)
R 4 000.00

Distance Learning: (± 30 credits)

2018 fees
Number of students Cost per student (excl. VAT)
12 – 30 R 4 200.00
30 + Negotiable

Cost of facilitated learning (Moonstone provides venue): (± 30 credits)

2018 fees
Number of students Cost per student (excl. VAT)
12 – 30 R 5 500.00
30 + Negotiable

Cost of facilitated learning (use own venue): (± 30 credits)

2018 fees
Number of students Cost per student (excl. VAT)
12 – 30 R 5 200.00
30 + Negotiable

Additional Fees:

2018 fees
Cost per student (incl. VAT)
Credit Analysis fee
(MBSE will analyse your credits. The fee will be deducted from your first enrolment payment.)
R 553.51
Reprinting of material fee R 387.00
Enrolment for specific Skills Programmes Will depend on your outstanding amount of credits.
Rewrite Formative R 221.93 per unit standard
Rewrite Summative R 798.25
Concession (Mathematics and Languages) R 543.86

Re- assessment fees (incl. VAT)

Summative Assessment: R 910.00
Formative assessment: R 253.00 per unit standard

How do I calculate my fee?

In order for any student to calculate their total fee, we first need to establish your credit score and which skills programmes you should enrol for.

Please refer to our RPL and credit mapping to get started.

Dates

Registration deadline:

No deadline

Payment:

On registration per skills programme or full qualification.

Start date and end date:

  • Will individually be decided with registration.
  • A skills programme takes approximately 8 – 10 weeks to complete.

Accreditation and Certification

Certification

The Qualification consist of Fundamental, Core and Elective Components. To be awarded the Qualification, students are required to obtain a minimum of 150 credits in line with the component requirements. Certification will occur as soon as all the relevant unit standards toward the qualification have been completed, verified and endorsed by INSETA and uploaded onto the INSETA Indicium System.

Method of training

Admission Requirements

  • This qualification is suitable for students who have schooling at/or below NQF 4 (grade 12 certificate).
  • Our programme is aimed at student’s with less than four years’ experience, newcomers to the industry, or those who have lots of experience, but would like to brush up on their product knowledge.
  • No admission requirements.
  • Students must be able to read and write.
  • Students will receive an equivalent qualification as a grade 12 certificate.

How to Register?

Each skills programme is an independent programme and one can enrol at any time for these skills programmes. Registration is flexible and can be done 5 days a week for distance learning, online learning, blended learning and facilitated learning. For facilitation, a minimum of 15 candidates are required.

Assessments

  • After completion of the Portfolio of Evidence, the students will either courier the proof of evidence to the Assessor or upload on LMS for assessment. Once assessed and the students is found Competent in all the Skills Programmes, MBSE will contact the candidate to arrange for a closed-book Summative Assessment.
  • Additional assignments will be handed in on the day of the Summative Assessment.
  • Should the candidate be unsuccessful in the Skills Programmes on the Portfolio of Evidence, MBSE will contact the candidate to apply for a rewrite on these Skills Programmes.
  • Once Competent MBSE will arrange for the Summative Assessment.
overview
Starting Date 
No restriction 

 

Qualification

Registered on the National Qualification Framework (NQF) and quality assured by INSETA

Method of Training
Distance learning, online learning, facilitated groups of 15+.

Qualification Duration
Minimum of 8 – 10 weeks per Skills Programme of ± 30 credits.

Admission Requirements
No admission requirements

Fees:

See Skills Programmes Fees below

The Qualification is a holistic introduction to Wealth Management and Wealth Creation. It enables intermediaries to understand the Wealth Management environment, the legislative requirements and product-related information.