The digital revolution has made its mark on South Africa, with online learning gaining momentum and reshaping the educational landscape.
Statista, an online platform specialising in data gathering and visualisation, places user penetration in the online education market at 12.6% in 2023, with the number of online education users expected to grow to 11.31 million by 2027.
Edel Goldbach, academic manager at Moonstone Business School of Excellence (MBSE), says there are many benefits to online learning. Besides saving on time and costs, it is flexible, builds transferrable skills, and offers career advancement opportunities. But, she says, at the end of the day, you get out of online learning what you put into it.
“Our philosophy is that we are there to coach and guide, but ultimately, it is up to you.”
MBSE was established in 2015 after the acquisition of PSG Academy by the Moonstone group. Provisionally registered with the Department of Higher Education and Training as a Private Higher Education Institution, the college provides online FAIS and insurance courses in accordance with the requirements of the South African Qualifications Authority.
Goldbach says MBSE knows that many financial advisers, brokers, and administrators have not studied for years but have a vast amount of experience. MBSE’s qualifications and FAIS accredited qualifications are structured to make students at ease with the learning, as well as the assessments.
“Online learning is perfect for people who are self-disciplined, independent, tech-savvy, motivated, and driven. It also requires commitment. Depending on the course you choose, there can be a lot of material to work through, and you need to set aside enough time in your week for studying,” Goldbach says.
Top achievers
Both Cathy Vorster and Nikki Trevethan – recent graduates and top achievers in MBSE’s Higher Certificate in Wealth Management (HCWM) qualification – fit this bill.
The HCWM provides learners with a foundation for various roles in the financial services industry, or to kick-start their career in financial planning. The course is recognised by the FSCA for all product sub-categories of Category I FSPs, and it can be used to fulfil the Fit and Proper requirements for FAIS roles in Category I FSPs.
As MBSE is an education provider accredited by the Financial Planning Institute of Southern Africa, graduates of the HCWM can apply to the FPI for the designation of Registered Financial Practitioner.
Vorster, 43, is a communication specialist at the National Fund for Municipal Workers, the largest retirement fund in local government. She says, tasked with creating content for member communication and education in the retirement fund industry, she needed a better understanding of wealth management.
“My employer, specifically our PEO, gave me the nudge I needed to enrol.”
Holding down a full-time job, the mother of three opted to complete the course over two years (part-time). She says online learning does require a lot of discipline.
“But if I told you that I stuck to a study schedule, I would be lying. Of course, there were a lot of challenges, but I made sure that I prepared for the exams, even if it meant doing so at night when everything was quiet.”
Trevethan, 47, is the director of support services and provident fund administrator at Trevethan Financial Services. She enrolled in the course to attain the NQF5 needed to be appointed as a key individual.
“It was the last requirement,” she says.
She also completed the course over two years. Not having studied since she left school 30 years ago, Trevethan shares that she needed to wait until both her sons finished school, “or at least the last one was in Matric”, before studying further.
“I did not have the capacity to work and study up until then and felt it would be money wasted if I failed.”
Returning to the (virtual) classroom after so many years, Trevethan admits that she struggled with the online portion of the learning. She says it required a huge effort.
“Having no lecturer in front of me to ask questions or to understand some of the formulas was really challenging, as I did not do well at maths at school.”
She shares that early on in her studies, she was tempted to call it quits.
“When I started the course initially, we were thrown a curve ball of having to move house in a few short weeks and renovate our new home, which was awful, as it took weeks to set up a proper office environment at home with the facilities to study. I found that quite challenging and nearly cancelled the studies, as I felt I didn’t have the capacity to do it all.”
Knuckling down, she devoted entire weekends to studying and declined many dinner invitations during the week.
“The learning did not come naturally to me, and if I had left it for the odd hours, my marks would have suffered.”
In the weeks leading up to exams, she made sure that she had prepared enough so that she could learn from 6pm to 8pm.
“I tried to devote most Thursday mornings to studying, as I am fortunate enough to be flexible in my working environment.”
Ultimately, her commitment paid off.
Course content
The HCWM consists of four compulsory modules (Financial Planning Environment Fundamentals, Risk Planning Fundamentals, Investment and Retirement Planning Fundamentals, and Introduction to Tax in Financial Planning) and one of three elective models (Business Assurance Fundamentals, Retirement Fund Fundamentals and Healthcare Benefits Fundamentals).
Vorster says while all the compulsory modules were helpful in building her understanding of the industry, some challenged her more than others.
“Like tax.”
She says of all the modules, she enjoyed Retirement Fund Fundamentals the most.
“It talks to the industry that I am in.”
Trevethan also points to Retirement Fund Fundamentals as the module that most impacted what she does at work.
“I look after the administration of approximately 35 pension/provident funds in our business.”
Once enrolled in the HCWM course, learners have online access to study material (a study guide, self-assessments, and relevant additional resources). To graduate, they are required to complete online formative assessments and a final invigilated written summative assessment for each module.
Vorster says she found the course study material to be user-friendly.
“Especially the use of recordings where the lecturers use examples as part of the module.”
She says the formative assessments were also of great help.
“It forces you to read through the modules, getting an understanding of it, and then you are only left with revision before the summative exams.”
Describing the team at MBSE as awesome, Vorster says the lecturers were available to provide support.
“They use the results from the formative assessments to identify and address any areas students may struggle with and provide guidance throughout. The MBSE platform is also very user-friendly.”
Both women agree that they would recommend the course to others.
Vorster adds it will assist anyone who wants to get a foot in the door in the financial sector.
“And with the ever-changing retirement industry, there is a greater need for professionals that can assist individuals with wealth planning.”
The Higher Certificate in Wealth Management is one of five accredited qualifications offered by MBSE. The others are:
- The Postgraduate Diploma in Financial Planning (NQF 8)
- Occupational Certificate: Compliance Officer (NQF 6)
- Advanced Certificate in Financial Planning (NQF 6)
- Higher Certificate in Short-term Insurance (NQF 5)
With the qualification’s second semester for 2023 just having kicked off, the applications for next year’s first semester close on 29 January.
Apply today at www.mbse.ac.za.
For more information, contact us at help@mbse.ac.za.
