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 THAT HAS PASSED THE END DATE: 

Investigate the range of options available for wealth management 
SAQA US ID UNIT STANDARD TITLE
113914  Investigate the range of options available for 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  5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 		 2004-02-11  2007-02-11  SAQA 1852/04 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2008-02-11   2011-02-11  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
243134  Investigate the range of options available for wealth management  Level 4  NQF Level 04  5   

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:
  • Analysing the different types of risk associated with specific needs.
  • Describing insurance based options available for wealth management.
  • Describing investment type options available for wealth management.
  • Applying technical knowledge and skill to propose a financial solution. 
    		•

    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:
  • Types of risk include, but are not limited to, risks associated with property, untimely death, disability, ill health, injury, long term planning for retirement and liability.
  • Long term insurance products include, but are not limited to, endowments, retirement annuities, life insurance, disability insurance and annuities.
  • Investment options include, but are not limited to, participatory interest in collective investment scheme portfolios, fixed deposits, equities, bonds and debentures. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse the different types of risk associated with specific needs. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. A client`s personal and financial situation is analysed to identify potential risks and determine current and future needs. 

    ASSESSMENT CRITERION 2 
    2. The concept of risk in financial planning is explained and an indication is given of the different types of risk that could potentially affect an individual. 

    ASSESSMENT CRITERION 3 
    3. Events are identified and related to time horizons. 

    SPECIFIC OUTCOME 2 
    Describe insurance based options available for wealth management. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The concept of insurance is explained with reference to term, insurable interest, contractual obligations and the legal environment that regulates insurance options. 

    ASSESSMENT CRITERION 2 
    2. Five long term insurance products are analysed and compared with reference to the advantages and disadvantages of each and the potential of the product to meet a specific insurance need of an individual. 

    ASSESSMENT CRITERION 3 
    3. Five criteria used to underwrite long term products are listed and an indication is given of how each impacts on the acceptance of cover and rate. 

    ASSESSMENT CRITERION 4 
    4. Three criteria used to underwrite short term policies are listed and an indication is given of how each impacts on the acceptance of cover and rate. 

    SPECIFIC OUTCOME 3 
    Describe investment type options available for wealth management. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Five investment options are compared in terms of liquidity, return, legal and tax implications, volatility and the time horizon linked to each. 

    ASSESSMENT CRITERION 2 
    2. The elements of three combination insurance and investment products are analysed in terms of how they are combined and how they offer potential financial solutions. 

    ASSESSMENT CRITERION 3 
    3. Defined benefit and defined contribution retirement schemes are compared in terms of funding basis and investment risk. 

    ASSESSMENT CRITERION 4 
    4. The concept of an annuity is explained and an indication is given of the difference between voluntary purchase annuities and compulsory purchase annuities. 

    ASSESSMENT CRITERION 5 
    5. The advantages and disadvantages of provident funds and retirement schemes are compared in terms of tax implications on contributions and proceeds. 

    SPECIFIC OUTCOME 4 
    Apply technical knowledge and skill in order to propose a financial solution. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The results of a needs analysis are interpreted and the risks in the particular situation are identified in order to propose a financial solution. 

    ASSESSMENT CRITERION 2 
    2. A plan to address the identified needs and risks is proposed and substantiated with reference to the recommended products, how they function and how they address the problem. 

    ASSESSMENT CRITERION 3 
    3. The proposal is presented to the client and an indication is given of the documentation required for compliance. 


    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 interpreting a needs analysis and proposing a financial solution. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is capable of seeing the world as a set of related systems in relating risks, needs and time horizons. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is capable of communicating effectively in presenting a proposal to a client. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is capable of demonstrating cultural sensitivity is dealing with a client and proposing a solution to meet specific needs. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 243134, which is "Investigate the range of options available for wealth management", Level 4, 5 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  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 
    Elective  49649   Further Education and Training Certificate: Long-term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 


    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.
     
    NONE 


    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.