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: 

Develop a potential wealth preservation solution for an entity 
SAQA US ID UNIT STANDARD TITLE
242555  Develop a potential wealth preservation solution for an entity 
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 6  Level TBA: Pre-2009 was L6 
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 who give financial advice such as Intermediaries, Financial Planners, Product Developers, Trust Officers, Broker Consultants, Bankers, Sales Managers, Key Individuals and Attorneys.

The qualifying learner is capable of:
  • Determining the wealth preservation needs of an entity.
  • Developing a wealth preservation solution.
  • Applying knowledge of tax implications to a complex retirement planning scenario.
  • Proposing a wealth preservation solution. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 4 and are working towards or have a Level 5 Financial Services Qualification or equivalent. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • The combinations should consider income tax, capital gains tax, the effect on the estate, liquidity, risk control, need for protection and growth.
  • A wealth preservation solution includes relevant quotations, cash flows, relevant tax calculations, liquidity and cost implications, reasons for recommendations and implementation action plan.
  • Paragraph (a) funds refer to semi-government and former semi-government pension funds in terms of the Income Tax Act.
  • Capital and income objectives include, but are not limited to, short term, insurance, medical, long term, disability and dread disease. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Determine the wealth preservation needs of an entity. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Capital and income objectives of a client are analysed with reference to liquidity and term. 

    ASSESSMENT CRITERION 2 
    The capital and income available to the client are analysed with reference to term and tax. 

    ASSESSMENT CRITERION 3 
    The risk profile of the client is compared to the risk profile of the current portfolio in terms of risk and return. 

    ASSESSMENT CRITERION 4 
    The needs of the client are prioritised in terms of available provisions. 

    SPECIFIC OUTCOME 2 
    Develop a wealth preservation solution. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Generic investment instruments are investigated with reference to the strengths and weaknesses of each and an indication is given of how each could be used to meet the specific needs of a client. 

    ASSESSMENT CRITERION 2 
    At least two possible combinations of generic investment instruments are proposed to meet the specific needs of the client. 

    ASSESSMENT CRITERION 3 
    The tax, capital and income position of a preferred solution are calculated and evaluated against the current situation and need. 

    ASSESSMENT CRITERION 4 
    The strengths, weaknesses and cost elements of the proposed solution are evaluated against the client's needs. 

    SPECIFIC OUTCOME 3 
    Apply knowledge of tax implications to a complex retirement planning scenario. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The application of tax legislation on specific products is analysed to determine the impact on simultaneous or staggered retirement from several different retirement vehicles. 

    ASSESSMENT CRITERION 2 
    The implications of retiring from the Government Employees Pension Fund , a semi-government and former semi-government pension fund and a private pension fund are compared with reference to tax and investment options. 

    ASSESSMENT CRITERION 3 
    Different options for minimising tax at retirement are explored for a specific client. 

    SPECIFIC OUTCOME 4 
    Propose a wealth preservation solution to a client. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A financial wealth preservation solution that meets the wealth management needs of the client and legislated requirements is presented to the client. 

    ASSESSMENT CRITERION 2 
    The agreed strategy is implemented and a management plan is developed to allow for review. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 

  • 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 able to identify and solve problems in which responses show that responsible decisions using critical and creative thinking have been made in proposing a wealth preservation solution. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage him/herself and his/her activities responsibly and effectively in developing a plan to allow for review. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in order to propose investment instruments. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively using visual, mathematics and language skills in explaining the proposed solution in order to enable the client to make an informed decision. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use science and technology effectively and critically in manipulating information using a computer. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation by relating a client's needs and objectives to a plan to preserve wealth. 

    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 
    Search words: retirement, retrenchment, investment planning, wealth preservation, needs analysis, financial planning, wealth management, retirement planning, wealth preservation, wealth creation. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  66611   National Certificate: Wealth Management  Level 5  Level TBA: Pre-2009 was L5  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 UNION SKILLS DEVELOPMENT PTY LTD 
    2. ALCARI 233 CC T/A ALCARI (Eversdal)(TP) 
    3. Boland Public FET College - Central Office 
    4. CKP Development Agency (Pty) Ltd. 
    5. COLLEGE OF CAPE TOWN 
    6. College of Cape Town - Central Office 
    7. False Bay College 
    8. Intec College 
    9. Masifunde Training Centre (Pty) Ltd 
    10. North Link College 
    11. Old Mutual Life Assurance Company South Africa 
    12. Ray Strodl Consulting (Pty) Ltd 
    13. Ripple Effect 4 (Pty) Ltd 
    14. Sanlam Life Insurance Ltd 
    15. Sanlam Life Insurance Ltd. 
    16. South Cape College 
    17. South Cape Public FET College - Central Office 
    18. The Institute of Health Risk Managers (Pty) Ltd 
    19. Umfolozi FET College - Central Office 
    20. Universal Healthcare Services (Pty) Ltd 



    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.