SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Apply knowledge of the sales cycle in wealth management 
SAQA US ID UNIT STANDARD TITLE
113921  Apply knowledge of the sales cycle in wealth management 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners in a financial services environment. It will add value to financial planners, intermediaries financial advisers, healthcare intermediaries, product developers, co-coordinators of medical schemes, financial call centre agents and trustees of medical schemes and retirement funds. It complies with the current legislated practices in giving financial advice.

The qualifying learner is capable of:
  • Investigate and analyse a client`s needs and wants in order to propose a financial solution.
  • Interpret data based on needs and wants of a client in order to propose a financial solution.
  • Produce the documentation required in proposing a financial solution and proceeding to implement the solution.
  • Clarify policy and procedures relating to a product. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this Unit Standard. Learners should be competent in Communication, Mathematical Literacy and Financial Literacy at Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:

    The needs analysis and proposal include, but are not limited to, needs analysis, quotation, identified shortfalls, affordability, costs, policyholder protection rule requirements and the proposed solution. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Investigate and analyse a client`s needs in order to propose a financial solution. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The on going importance of prospecting in the sales cycle if explained with reference to a centre of influence, direct referral and the use of a data base, and an indication is given of how to qualify a prospect. 

    ASSESSMENT CRITERION 2 
    2. Questions are asked to gather data and establish the needs and wants of a prospective client. 

    ASSESSMENT CRITERION 3 
    3. The legal requirements with regard to compliance and disclosure are known and demonstrated in order to enable a client to make an informed decision. 

    SPECIFIC OUTCOME 2 
    Interpret data based on the needs and wants of a client in order to propose a financial solution. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Priority questions are asked to establish the needs of the client based on the current financial situation. 

    ASSESSMENT CRITERION 2 
    2. Gaps between the client`s present and projected financial position are identified in order to propose a financial solution. 

    ASSESSMENT CRITERION 3 
    3. The benefits of the proposed solution are explained with reference to a specific product and how it meets the identified need. 

    SPECIFIC OUTCOME 3 
    Produce documentation required in proposing financial solution and proceeding to implement solution. 
    OUTCOME NOTES 
    Produce the documentation required in proposing a financial solution and proceeding to implement the solution. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. A needs analysis and financial proposal are documented for record purposes. 

    ASSESSMENT CRITERION 2 
    2. The document is presented to the client. 

    ASSESSMENT CRITERION 3 
    3. Techniques for handling objections are demonstrated for three case studies. 

    SPECIFIC OUTCOME 4 
    Clarify policy and procedures relating to the product. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The business rules relating to the product are explained with reference to a specific product. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Accreditation for this Unit Standard shall be obtained from the relevant Education and Training Quality Assurance Body, through summative and formative assessment by a registered assessor.
  • Assessors must be registered as an Assessor with the relevant ETQA.
  • Moderators must be registered as assessors with the relevant ETQA, or with an ETQA that has a Memorandum of Agreement with the relevant ETQA.
  • Training providers must be accredited by the relevant ETQA.

    Moderation should include both internal and external moderation where applicable. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is capable of identifying and solving problems and making decisions in conducting a needs analysis and proposing a financial solution. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is capable of collecting, organising and critically evaluating information in collecting and interpreting data relating to a clients needs and wants. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is capable of communicating effectively in explaining the proposed solution and quotation and producing the documents required by law. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is capable of demonstrating cultural sensitivity in proposing a financial solution to a specific client. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  49089   National Certificate: Financial Services  Level 3  NQF Level 03  Reregistered  2023-06-30  INSETA 
    Elective  49649   Further Education and Training Certificate: Long-term Insurance  Level 4  NQF Level 04  Reregistered  2023-06-30  INSETA 
    Elective  66609   Further Education and Training Certificate: Retail Insurance  Level 4  NQF Level 04  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 
    Elective  48493   National Certificate: Financial Services: Wealth Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2007-02-11  Was INSETA until Last Date for Achievement 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Alcari Learning Centre (Pty) Ltd 
    2. CKP Development Agency (Pty) Ltd. 
    3. Discovery Life Ltd 
    4. Executive People Development Solutions (Pty) Ltd 
    5. Faisit (Pty) Ltd 
    6. Intec College 
    7. Intelligo Solutions Pty (Ltd) 
    8. Invuya Institute of Learning (Pty) Ltd 
    9. Masifunde Training Centre (Pty) Ltd 
    10. Umfolozi FET College - Central Office 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.