Further Education and Training Certificate: Wealth Management

The National Certificate in Financial Services: Wealth Management: NQF Level 4 expires in February 2007. The qualification has been reviewed and expanded to meet the needs of learners in a variety of positions in the Financial Services Sector. The FETC: Wealth Management replaces the National Certificate in Financial Services: Wealth Management: NQF Level 4.

The FETC: Wealth Management combines Long-Term Insurance (including Retirement Funds, and Medical Schemes), Collective Investment Schemes and other aspects of investment. The Qualification is a holistic introduction to Wealth Management and Wealth Creation. It includes Unit Standards for aspiring Trainee Financial Planners, Intermediaries, Trustees and Principal Officers of Medical Schemes and Retirement Funds and some Short-Term Insurance Unit Standards for Intermediaries who advise on both long and short-term products. It is a building block for the National Certificate: Wealth Management: Level 5.

The FETC: Wealth Management is intended for:
Learners who require licensing in Long-Term Category A, generally intermediaries who sell assistance policies including funeral policies in terms of the current Determination of Fit and Proper Requirements for Financial Services providers.
Learners who require licensing in Long-Term Category B, generally intermediaries selling risk policies (death, disability and health events) and guaranteed investment/savings, recurring policies and annuities other than single premium annuities and excluding products marketed as investment or savings policies in terms of the current Determination of Fit and Proper Requirements for Financial Services providers.
Intermediaries who run their own financial planning practices and who offer advice on Short-Term Personal Lines and Business Insurance and who also advise on Long-Term Categories A and/or B in terms of the current Determination of Fit and Proper Requirements for Financial Services providers.
Trustees and Principal Officers of Retirement Funds or Medical Schemes.
Learners who have a School-Leaving Certificate and are entering the Insurance and investment Industry for the first time.
Learners in administrative positions and sales in Collective Investment Scheme Managers and Medical Schemes who do not provide advice.
Broker Consultants and learners in Call Centres who give advice on Long-Term Category A and/or B products in terms of the current Determination of Fit and Proper Requirements for Financial Services providers.
Administrators in financial services organisations.
Trainee Financial Planners who seek registration with the Financial Planning Institute.