Master of Management Studies (M.M.S) Wealth Management Syllabus - Mumbai University 2026

Course objectives

• 1 To familiarize students with core concepts, principles, and strategies of wealth management.
• 2 To equip students with practical skills in portfolio management, financial planning, and advisory services.
• 3 To develop analytical capabilities for managing high net-worth clients and wealth preservation strategies.
• 4 To foster understanding of regulatory compliance, tax planning, and estate management.
• 5 To cultivate strategic insights into contemporary trends, digital tools, and innovations in wealth management.

Course outcomes

• CO1: Define key concepts and principles of Wealth Management.
• CO2: Explain the role of different asset classes in Portfolio Management and their Risk return characteristics.
• CO3: Financial planning principles for individual and institutional wealth.
• CO4: Investment portfolios and asset allocation strategies.
• CO5: Assess risk management techniques in wealth planning.
• CO6: Comprehensive wealth management plans incorporating tax and estate planning.

Unit 1 CO1, CO2 · 6 hours

Introduction to Wealth Management: Definition, Importance, Scope and Process of Wealth Management, Evolution of Wealth Management Industry, Role of a Wealth Manager, Investment Advisor – Functions, Code of Ethics of Wealth Manager, Different Client Segments & Needs

Unit 2 CO1, CO2, CO3 · 6 hours

Financial Markets & Instruments: Overview of Equity, Debt and Alternative Investments, Market Trends & Economic Indicators, Role of Mutual Funds, ETFs, and REITs, Financial Derivatives and Structured Products, Global Investment strategies, Time Value of Money for investment.

Unit 3 CO3, CO4 · 4 hours

Portfolio Management Theories: Portfolio Modelling and Rebalancing Strategies, Portfolio Performance Measurement, Modern Portfolio Theory (MPT), Capital Asset Pricing Model (CAPM), Asset Allocation & Diversification Strategies, Smart Beta Strategies & Factor Investing

Unit 4 CO3, CO4 CO5 · 6 hours

Risk Management in Wealth Planning: Risk Meaning, Types and Categories of Risk, Risk Profiling & Risk-Return Trade-off, Behavioural Aspects of Risk Management, Hedging Techniques & Stress Testing, Portfolio Risk Management

Unit 5 CO2 CO3, CO4 CO5 · 6 hours

Investment Planning & Strategies: Active vs. Passive Investing, Fundamental & Technical Analysis, Alternative Investments: Private Equity, Hedge Funds, Commodities, Quantitative Investment Strategies, Concept of Benchmarking, Fee Structures and costs involved in investing

Unit 6 CO4 CO5 CO6 · 5 hours

Taxation & Wealth Preservation Strategies: Taxation of Various Investment Vehicles and Products, Estate Planning & Succession Planning, Tax-efficient Investment Strategies, Global Taxation Aspects & Cross-border Wealth Management

Unit 7 CO4 CO5 CO6 · 6 hours

Retirement & Estate Planning: Succession Laws, Wealth Transfer Strategies, Types of Retirement Plan, Pension fund and retirement fund, Trusts, Wills, and Power of Attorney, Intergenerational Wealth Transfer, Financial Planning for Different Life Stages, Wealth Creation Factors and Principle Pre and Post Retirement Strategies

Unit 8 CO3, CO4, CO6 · 4 hours

Behavioural Finance & Wealth Psychology: Behavioural Finance – Meaning and relevance in Investment Decision, Psychological Biases in Investment Decisions, Emotional Aspects of Wealth Management, Strategies to Overcome Behavioural Biases, Investor Profiling & Decision-Making Patterns

Unit 9 CO3, CO4, CO5 · 3 hours

Financial Planning & Advisory Process: Client and Risk Profiling, Goal Setting and Budgeting, Steps in Financial Planning, Financial Advisory Business Models

Unit 10 CO1, CO2, CO3, CO4 · 6 hours

Alternative Investments & ESG Investing: Investment Products and Alternative – Meaning, Types, Evaluation Criteria of Investment Alternative, ESG (Environmental, Social, and Governance) Investments, Sustainable and Impact Investing, Green Investment Strategies, Private Market Investments & Real Assets

Unit 11 CO3, CO4, CO5 · 4 hours

Regulatory & Compliance Framework: Role of SEBI, RBI and other statutory Bodies, Anti- Money Laundering (AML) and KYC Norms, Ethical & Legal Considerations in Wealth Management, Global Compliance & Fiduciary Responsibilities

Unit 12 CO4, CO5 CO6 · 4 hours

Role of Technology in Wealth Management: Financial Modelling & Decision-making Frameworks, Fin-Tech – Innovation and their Impact, ROBO Advisor, Artificial Intelligence and Machine Learning in Digital Asset, Block Chain and Crypto Currencies

Textbooks

• 1 Kapoor, J. R., Dlabay, L. R., & Hughes, R. J. – Personal Finance (McGraw Hill)
• 2 Hallman, G. V., & Rosenbloom, J. S. – Personal Financial Planning (McGraw Hill)
• 3 Hiriyappa, B. – Wealth Management (New Age International)
• 4 Suyash Bhatt – Wealth Management – Excel Books
• 5 S.K.Bagchi, Wealth Management- Jaico Publishing House

Reference Books

• 1 Prasanna Chandra – Investment Analysis and Portfolio Management (McGraw Hill)
• 2 Kevin, S. – Security Analysis and Portfolio Management (PHI)
• 3 Bodie, Kane, & Marcus – Investments (McGraw Hill)