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Sizwe Medical Fund under provincial curatorship

Quote of the day

Universal Training Academy

“People who have made a commitment to continual learning, growth and improvement are those who have the
ability to change, adapt, flex, with the changing realities of life, and become fundamentally equipped to produce
far better than others”. Stephen R. Covey

More about The Universal Training Academy
Universal Training Academy (UTA) was established in 2010, and has been an accredited training provider (Accreditation Number 130215) with the
Insurance Sector Education and Training Authority (INSETA) since September 2010.
Following our accreditation, the primary focus of UTA has been to provide training in order to achieve the National Certificate: Wealth Management,
an approved qualification by the Financial Services Board (FSB), (Registration: SAQA* QUALID 57608 – NQF LEVEL 5 – minimum requirement 120 credits).
We are at present awaiting the approval of our application to the Department of Higher Education to become a registered Further Education and
Training College.

A background to the South African financial services landscape
The South African financial services landscape has without doubt become increasingly competitive. Far-reaching, imminent changes during 2017
and beyond include: ‘Twin Peaks’, Retail Distribution Review (RDR), amendments to the Financial and Intermediary Services Act (FAIS) ‘Fit and Proper
Requirements’, Financial Sector Regulation Bill and the Demarcation Regulations. It is anticipated that the changes will place further responsibilities on
Financial Services Providers (FSPs), in respect of the development and training of all staff members.
Everyone involved in the respective sub-sectors in the financial services industry is acutely aware of their
responsibilities. The respective Key Individuals (KIs) and representatives must at all times ensure that every
requirement pertaining to the stringent regulatory environment we operate in, are met, and that we,
without fail, uphold the integrity of the financial services industry in everything we do.
Never before has the adage, “financial companies that coach the best, develop the best balance
sheet!” been more relevant.
Having recognised this pressing need, UTA has, over the past six years, invested substantially in
developing popular, fully accredited and industry-appropriate wealth management training

About the course
The National Certificate: Wealth Management, is recognised by the
Financial Services Board to provide a framework for learners to develop
competencies within the following disciplines:
(i) Long Term Insurance Sub-Sector, including Life Benefits, Retirement
(ii) Medical Scheme Administration;
(iii) Collective Investment Sub-Sector; and
(iv) Wealth Creation and Wealth Management.
The qualification provides a balanced learning experience and equips
learners with the applicable academic skills specific to their financial
services sub-sector. The qualification is structured in such a way that it
exposes learners to broader, more generic content but forms a strong
foundation for further specialisation, and meets the needs of each of the
financial services sub-sectors.
We currently provide two learning avenues:
(i) Financial Planning
(ii) Medical Schemes
Both learning avenues comprise 79 compulsory credits made up from Core
Unit Standards (39 credits) and Fundamental Unit Standards (40 credits).
In order to meet the minimum requirement of 120 credits the balance
of Elective Unit Standards (41 credits) are carefully chosen in order to
enhance the chosen learning avenue. Three modules, each representing
approximately 40 credits, are completed over a three to four month period,
followed by the successful completion of the Portfolios of Evidence and
closed book summative assessments, for the respective modules.

Who is the qualification designed for?
The qualification has relevance to two fields of study and is highly suitable
for, among others, financial advisors, personal financial planners, financial
services call centre agents, client service providers, brokers, broker
consultants, retirement fund consultants, retirement fund administrators,
trust fund officers, product developers, and consultants who advise on
product structure of retirement funds. It is also particularly helpful for
principal officers and trustees of medical schemes.

Purpose and overall objectives of the qualification
The National Certificate: Wealth Management, (NQF Level 5) builds the
knowledge and skills required by individuals within the wealth management
industry who have previously achieved a qualification equivalent to NQF
Level 4, preferably in a financial services or related fields, and are ready to
study at NQF Level 5.
The qualification empowers individuals to operate ethically and responsibly
in the highly regulated financial services environment; and to respond
to the challenges posed by an ever-changing industry. The qualification
ultimately adds considerable value to the qualified learner as it enriches
the individual with knowledge and pertinent skills, thereby improving his
or her professional status and credibility. The qualification furthermore
provides licensing and recognition within the industry.