We attended an INSETA training session this week and were advised that from next year learners completing the NC: Wealth Management will be required to write an external exam run by INSETA before being awarded the full qualification. This will bring the old qualifications in line with the requirements of the new QCTO qualifications that have been developed and are awaiting registration with SAQA.
This means that learners will complete the folowing 3 skills programs:
- SP WM001 Environment – 41 credits
- SP WM002 Risk and financial advice – 50 Credits
- SP WM003 Wealth Management – 45 credits
In the past, the learner would have completed formative and summative assessments to achieve these 136 credits, and in doing so will have met the requirements for the qualification and would have been awarded the qualification.
Going forward learners enrolling on these skills programs to achieve the qualification will need to complete an external practical examination in addition to the above formative and summative assessments.
RSC has already changed their material to ensure that learners are fully competent and are fully prepared for this external assessment and all new learners are currently on this new program.
Learners who have enrolled some time ago and have allowed their enrolments to expire will have the old material will need to re-enrol and get the new material to prepare for this new external examination.
RSC is busy contacting learners who are currently enrolled or whose enrolment has expired so that they are aware of this change which will impact on them if they delay their submissions and only complete the qualification next year.
RSC is having a final verification in late November this year and all learners who want to avoid the requirements of the external examination should ensure they complete their work and submit in time for this verification.
All learners who have enrolled since July this year were made aware of these changes and the material and program they are on will ensure readiness for this external assessment and an improvement in the practical competence of the learners.