SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE:

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	3
REGISTRATION STATUS		REGISTRATION START DATE	REGISTRATION END DATE	SAQA DECISION NUMBER
Passed the End Date - Status was "Reregistered"		2018-07-01	2023-06-30	SAQA 06120/18
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2026-06-30		2029-06-30

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	Passed the End Date - Status was "Reregistered"	2023-06-30	INSETA
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
Elective	66609	Further Education and Training Certificate: Retail Insurance	Level 4	NQF Level 04	Passed the End Date - Status was "Reregistered"	2023-06-30	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.

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