QUALIFICATION: Advanced Certificate in Financial Planning (SAQA ID 62795, NQF LEVEL 6) 1 MODE OF DELIVERY: DISTANCE LEARNING (Claremont)

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1 CAPE TOWN CAMPUS: Tel: (021) Fax: (021) nd Floor, Sunclare Building, Cnr Dreyer & Protea Roads, Claremont P O Box 44235, Claremont, studentservices@milpark.ac.za JOHANNESBURG CAMPUS: Tel: (011) DURBAN OFFICE: Tel: (031) QUALIFICATION: Advanced Certificate in Financial Planning (SAQA ID 62795, NQF LEVEL 6) 1 MODE OF DELIVERY: DISTANCE LEARNING (Claremont) DESCRIPTION Programme purpose The purpose of this qualification is to equip students with the knowledge and skills required by expert practitioners in the financial planning sector and to prepare them for further studies. The qualification aims to develop informed and skilled qualifying students while accommodating students already employed in the financial planning sector. The skills, knowledge, values and attitudes acquired through this qualification are building blocks necessary for employment and advancement in the financial planning arena or for further studies. The Advanced Certificate in Financial Planning appears on the Financial Services Board s (FSB) list of recognised qualifications for FAIS Fit and Proper purposes. In terms of this rating, the qualification is considered to be relevant to all product categories as a generic (G) qualification, while it rates (SP) in Category I in the sub categories listed below. This means that students who were appointed in a FAIS role prior to or after 1/1/2010 and who have completed this qualification may receive exemption for second level Regulatory Examinations for the categories where it has been awarded (SP). Sub category Description Recognised as generic (G), Specific (S) or Specific (SP) 1.1 Long term Insurance Category A G 1.2 Short term Insurance Personal Lines G 1.3 Long term Insurance Category B1 G 1.4 Long term Insurance Category C SP 1.5 Retail Pension Benefits SP 1.6 Short term Insurance Commercial Lines G 1.7 Pension Fund Benefits G 1.8 Securities and Instruments: Shares G 1.9 Securities and Instruments: Money market instruments G 1.10 Securities and Instruments: Debentures and securitised debt G 1 Previously the National Certificate in Financial Planning Milpark Education (Pty) Ltd is registered with the Department of Higher Education and Training (DHET) as a Private Higher Education Institution (No 2007/HE07/003). Company CIPC Reg. No. 2004/026244/07.

2 Sub category Description Recognised as generic (G), Specific (S) or Specific (SP) 1.11 Securities and Instruments: Warrants, certificates and other instruments acknowledging debt G 1.12 Securities and Instruments: Bonds G 1.13 Securities and Instruments: Derivative instruments excluding warrants G 1.14 Participatory Interests in one or more Collective Investment Schemes G 1.15 Forex Investment Business G 1.16 Health Service Benefits G 1.17 Long term Deposits G 1.18 Short term Deposits G 1.19 Friendly Society Benefits G 1.20 Long term Insurance: Sub category B2 G The Advanced Certificate in Financial Planning may enable the individual to progress to an NQF Level 8 postgraduate qualification in financial planning (depending on the RPL policies of the institution involved). The postgraduate diploma is set as the educational requirement for THE FINANCIAL PLANNING INSTITUTE OF SOUTHERN AFRICA s (FPI) designation of CERTIFIED FINANCIAL PLANNER. Entry to the CFP Board Exam is conditional upon having obtained the postgraduate diploma. Milpark is a FINANCIAL PLANNING INSTITUTE OF SOUTHERN AFRICA (FPI) accredited education provider and the Advanced Certificate in Financial Planning is an approved programme. The Milpark Advanced Certificate in Financial Planning addresses the academic qualification requirements for the designation of FINANCIAL SERVICE ADVISOR TM or FSA TM professional awarded by the FINANCIAL PLANNING INSTITUTE OF SOUTHERN AFRICA. On completion of this qualification, students will be eligible to apply to the FPI to write its professional competency exam for the FSA TM professional designation. Programme outcomes Apply knowledge of legislation, compliance and ethics in the financial planning sector in South Africa. Assess the changing nature of the financial planning environment in South Africa in terms of structure, role players, regulation and consumer needs. Apply knowledge of legislation, taxation, economics and accepted financial planning principles to solve the financial dilemmas of an individual. Apply knowledge of legislation, taxation and business principles to advise a business on insurance and investment options.

3 Programme structure Module name C/E Credits Legal Aspects of Financial Planning LEGA01 6 Compulsory 20 Taxation for Financial Planners TAXP01 6 Compulsory 20 Personal Financial Planning for Financial Planners PERF01 6 Compulsory 25 Corporate Financial Planning for Financial Planners CFIN01 6 Compulsory 20 Practical Application (Case Study) for Financial Planners PRAC01 6 Compulsory 20 Business Management for Financial Planners BMFP01 6 Elective select one or Trust Law TRUS Please see Rules of Progression for a suggested registration order. 120 Module descriptions Business Management for Financial Planners The content of the module embraces the nature of management with reference to the relationship between management and leadership and its application in a financial planning practice. Corporate Financial Planning for Financial Planners Students will encounter the necessary knowledge to explain the structure and workings of the different types of employee benefits, and to demonstrate an understanding of the South African Health Care system and its challenges, as well as of current affairs in this sector. The aim is to prepare students to evaluate the financial statements of a business in order to determine business assurance needs with specific reference to its structure, implementation, tax consequences and legal requirements. Legal Aspects of Financial Planning This module is aimed at providing students with the necessary skills and knowledge of all legislation impacting on financial planning in South Africa in order to ensure compliance. Knowledge will include application of the general legal framework and basic legal principles in South Africa to financial planning contexts. Personal Financial Planning for Financial Planners This module incorporates retirement and tax legislation as well as the principles of time value of money. The different types of retirement funds in South Africa and options available at retirement with consideration to client needs, taxation and general investment principles are covered extensively. Estate planning and all the practicalities and legislation relating thereto are explained, as well as the different types of investment instruments and products available to advise a client on their appropriateness in a particular scenario.

4 Practical Application (Case Study) for Financial Planners This module is aimed at providing students with the necessary skills and knowledge to apply technical knowledge of financial planning to a client scenario in order to make recommendations and give advice. Note: All other modules must have been passed or enrolled for before registering for this module. Taxation for Financial Planners The aim of this module is to equip students with detailed knowledge of the Income Tax Act, in order to advise an individual, business entities and deceased estates on income tax and capital gains tax matters. The module includes the evaluation and discussion of ethical behaviour in the financial planning environment regarding taxation. Trust Law A trust can play a vital role in a client s financial and estate planning, for example, protecting assets for the benefit of the beneficiaries. Trust law and the taxation thereof is, however, a very specialised field. The objective of this module is to provide the financial planner with knowledge regarding the basic principles of trust law and the taxation thereof, thereby enabling the financial planner to advise his client appropriately in the circumstances. ADMISSION REQUIREMENTS The Milpark Education Higher Certificate in Financial Planning (at NQF Level 5); or Advanced Certificate in Wealth Management (NQF Level 5); or An appropriate, accredited NQF Level 5 qualification; or An appropriate, accredited Bachelor s degree (at NQF Level 6/7). ACCESS TO TECHNOLOGY Milpark provides students with materials, resources, formative assessments (including online tests and quizzes), discussion opportunities and a number of administrative services as part of the mymilpark and mycourses online tuition and support environments. Course materials contain links to additional external resources in the form of links to downloadable documents, websites and videos. Having access to the above online facilities is essential for efficient communication, learning and success. You will need continuous (daily) access to study, using the resources mentioned above, and to submit and receive your assignments. Minimum system requirements: 1. Reliable broadband internet access 2. Firefox/Internet explorer/chrome web browser 3. Microsoft Word 4. PDF Viewer 5. Ability to scan and upload documents 6. /Cellphone for notification and communication.

5 STUDENT SUPPORT Library Access The Milpark Library now provides access to e books in a virtual library called Cyberlibris (Scholartext). Lecturers may create smart bookshelves per course or module for students to access (these shelves can contain prescribed and recommended books). Students can also create their own personal smart bookshelves containing resources for their studies. Having access to a digital library means that thousands of students can access books and resources from anywhere at the same time online. There is no need to do reservations and requests, and no limit on the time a student has to access a book. With the implementation of Cyberlibris, students also have access to full text resources via Emerald (global), Ebsco (global) and Sabinet (South African publications) to assist with research and to enrich their learning experience. Access to the Library is included in the module fee. Tutor Comprehensive student support services are available. Students are provided with administrative support by Student Services. To assist with understanding content students have access to tutors that they can contact individually. Students who experience study and/or personal problems have access to a student counsellor. All support services are available to registered students via mymilpark (mycourses). RULES OF PROGRESSION The qualification consists of six modules, one of which is an elective. Please note that an elective may not be chosen with your first registration. The Practical Application Case Study module may only be attempted once the student has enrolled for or passed all other modules. Students are recommended to register for the modules in the following order: 1. Legal Aspects of Financial Planning LEGA Corporate Financial Planning for Financial Planners CFIN Business Management for Financial Planners BMFP01 6 OR Trust Law TRUS Taxation for Financial Planners TAXO Personal Financial Planning for Financial Planners PERF Practical Application (Case Study) for Financial Planners PRAC01 6 The motivation for this suggested registration order is based on the fact that Legal Aspects of Financial Planning firstly affords a good overview of the legislation behind the principles contained in the remaining modules. Secondly, the content of the modules Personal Financial Planning for Financial Planners and Taxation for Financial Planners overlap to a large extent with Practical Application (Case Study) for Financial Planners and this order will allow the student to make maximum use of the knowledge recently acquired when writing the Case Study examination.

6 ASSESSMENT Formative assessment contributes 30% to the final mark and consists of a combination of assignments and tests. The exact formative structure per module will be communicated to you at the start of the semester. Students will write a final, summative assessment per module at the end of each semester, which contributes 70% towards the final mark. Students need to obtain a sub minimum mark of 40% in the final, summative assessment and an overall mark of 50% in order to pass the module. All modules will be in the form of a CLOSED BOOK examination except for Practical Application (Case Study) for Financial Planners, which will be an open book exam. DURATION Distance learning students have a minimum of one year and a maximum of three years to complete this qualification. CERTIFICATION On successful completion of the qualification, the student will receive a Advanced Certificatein Financial Planning, NQF Level 6 (credits: 120). The Advanced Certificate in Financial Planning is accredited by the Higher Education Quality Committee of the Council for Higher Education (CHE). Please note that the name of the previous qualification National Certificate in Financial Planning has been amended to Advanced Certificate in Financial Planning in accordance with the requirements of the Higher Education Qualifications Subframework (HEQSF). FURTHER STUDIES The programme is at NQF Level 6 and it will provide for articulation options onto NQF Level 7 programmes. Narrowly, students may apply to be considered for Milpark s Postgraduate Diploma in Financial Planning, NQF 8 under the Recognition of Prior Learning policy. A student who transfers from one to another qualification within Milpark Education may be given credit for some modules successfully completed. Beyond Milpark Education, this qualification should articulate with other qualifications in the relevant field of financial planning. PRICING All module fees include one round of formative and summative assessments (supplementary examinations for contact learning excluded). Contact fees include lectures. Module fees do not include the cost of prescribed textbooks, which will be for your own account. The prescribed book list will be available on mymilpark on registration.

7 DISCLAIMER The content of this brochure is accurate at the time of going to print. Milpark Education reserves the right to change the programme content due to changes in legislation, market requirements and other reasons. Notice of such changes will be published on our website. Website: