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: 

Manage a business offering financial advice 
SAQA US ID UNIT STANDARD TITLE
119675  Manage a business offering financial advice 
ORIGINATOR
SGB Insurance and Investment 
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 will be useful for financial advisors, intermediaries, agents, broker consultants and sales managers in financial services businesses.

The qualifying learner is capable of:
  • Describing a local financial sales environment.
  • Managing the financial aspects of a business.
  • Quantifying earnings.
  • Scheduling daily duties to achieve set targets. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
  • Communication at NQF Level 3
  • Mathematical Literacy at NQF Level 3 

  • UNIT STANDARD RANGE 
    The typical scope of this unit standard is:
  • The local sales environment refers to the geographic market in a local area.
  • Role players include, but are not limited to branch managers, new business departments, competitors, clients, commissions departments, agents and broker panels.
  • Resources include staff and logistics.
  • Prospects include phone calls, electronic communications, presentations and personal contacts. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Describe a local financial sales environment. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The role players in the local financial services sales environment are identified with reference to first and third party sales. 

    ASSESSMENT CRITERION 2 
    Competitors in the local market are identified in terms of market share, products and distribution mechanisms. 

    ASSESSMENT CRITERION 3 
    The affect of FAIS and FICA on the local financial sales environment is investigated with reference to the fit and proper requirements and sustainability. 

    SPECIFIC OUTCOME 2 
    Manage the financial aspects of a business by offering financial advice. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The Life Style Measurement (LSM) categories are applied to define the target market to determine and quantify potential business. 

    ASSESSMENT CRITERION 2 
    Resources required to run a specific business are analysed and costed to determine the required income of the business. 

    ASSESSMENT CRITERION 3 
    A monthly budget is compiled for a specific business to determine the amount needed to be profitable. 

    SPECIFIC OUTCOME 3 
    Quantify earnings of a business to determine income. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Knowledge of the target market is applied to determine the number of customers needed to ensure the desired income. 

    ASSESSMENT CRITERION 2 
    The amount of commission needed to meet the required income is analysed in terms of the number of prospects and potentially successful sales. 

    ASSESSMENT CRITERION 3 
    The cumulative effect of ongoing commission is explained with reference to guaranteed future income. 

    SPECIFIC OUTCOME 4 
    Schedule daily duties to achieve set targets. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A work programme or diary is set up for a month to indicate the number of prospects that are planned for the month. 

    ASSESSMENT CRITERION 2 
    The work programme is assessed and an indication is given of whether the plan could produce the required income. 

    ASSESSMENT CRITERION 3 
    A programme for own Continuing Professional Development is planned to allow for upskilling in terms of industry requirements. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • This Unit standard will be internally assessed by the provider and moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA.
  • An individual wishing to be assessed (including through RPL) against this unit standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA, or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Moderation of assessment will be conducted by the relevant ETQA according to the policies and guidelines for assessment and moderation of that ETQA, at its discretion, in terms of agreements reached about assessment and moderation between various ETQAs (including professional bodies). 

  • 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 
    Learners are able to identify and solve problems in which responses show that responsible decisions using critical thinking have been made in managing the financial aspects of a business and scheduling activities. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are able to collect, organise and critically evaluate information in investigating the local sales environment. 

    UNIT STANDARD CCFO DEMONSTRATING 
  • Learners are able to demonstrate an understanding of the world as a set of related systems by recognising the relationship between LSM categories and potential business.
  • Learners are able to demonstrate cultural sensitivity in identifying local LSM categories and determining the potential market. 

  • 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  49649   Further Education and Training Certificate: Long-term Insurance  Level 4  NQF Level 04  Reregistered  2023-06-30  INSETA 
    Elective  66613   Further Education and Training Certificate: Wealth Management  Level 4  NQF Level 04  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


    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. African Resources & Financial Training (Pty) Ltd 
    2. ALCARI 233 CC T/A ALCARI (Eversdal)(TP) 
    3. CKP Development Agency (Pty) Ltd. 
    4. De Vries Management & Training Services cc 
    5. DSBI (Pty) Ltd 
    6. Faisit (Pty) Ltd 
    7. Intec College 
    8. Invuya Institute of Learning (Pty) Ltd 
    9. Masifunde Training Centre (Pty) Ltd 
    10. Old Mutual Life Assurance Company South Africa 
    11. Ray Strodl Consulting (Pty) Ltd 
    12. Sanlam Life Insurance Ltd 
    13. Sanlam Life Insurance Ltd. 
    14. 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.