MUMBAI, May 12 -- Recognising the need for structured education in financial planning, a number of educational institutions in Mumbai are stepping forward with specialised programmes that blend academic learning with practical, real-world financial expertise. From the upcoming academic year, institutions like Sydenham College, K J Somaiya Institute of Management and S P Jain School of Global Management will launch new courses in financial planning, wealth management and applied finance. These programmes aim to equip students not just with theoretical knowledge but with skills and globally recognised certifications that can prepare them for careers in a rapidly evolving financial ecosystem. The rise of "finfluencers"-social media personalities offering financial advice-has caught the attention of both the public and regulators. According to a recent study by the Certified Financial Analyst (CFA) Institute, nearly 82% of retail investors influenced by social media reported acting on the advice received, yet only 2% of content creators are registered with SEBI. This alarming gap underlines the risks involved when financial literacy is shaped by unverified sources. "What stands out in this research is the potential for social media and finfluencers to democratise access to financial information," said Arati Porwal, senior country head, India, of CFA Institute. "However, with that potential comes the responsibility of ensuring that advice shared is transparent, accurate and ethical." To address this growing need, several professional bodies around the world have begun partnering with universities and traditional educational institutions to integrate their specialised courses into formal academic programmes. Sydenham's MSc in finance now integrates the globally recognised Certified Financial Planner (CFP) credential, with the Financial Planning Standards Board (FPSB) India as a knowledge partner. This full-time, two-year course, with access to internships, live projects and mentorship from industry leaders, opens the doors to careers in investment analysis, tax planning, corporate finance and more. K J Somaiya Institute of Management is also offering an executive PGDM in financial planning-a dual qualification course tailored for professionals with at least three years of experience in financial services. Participants will receive a postgraduate diploma from the institute along with the CFP certification. "The Indian economy is projected to reach a GDP of $7 trillion by 2030, with the number of millionaires set to double by 2026," said the institute's director Raman Ramachandran. "This surge in wealth creation is driving a growing demand for skilled financial planners." Krishan Mishra, CEO of FPSB India, said there was a pressing need to distinguish between genuine financial expertise and unregulated advice. "This partnership represents a significant step in developing a workforce equipped with both the technical expertise and professional ethics required in today's financial services sector," he said. Prof Rajanish K Kamat, vice-chancellor of Homi Bhabha State University, emphasised the value of empowering students with globally recognised credentials and future-focused skills. "Financial planning education is essential for building a secure future and we will equip students with globally recognised skills through the CFP certification, preparing them to excel as ethical and skilled professionals in the evolving financial planning landscape," he said. Meanwhile, the S P Jain School of Global Management is launching a 12-month Master of Applied Finance and Wealth Management (MFWM) programme, spanning Mumbai and Dubai. "Professionals today need a unique blend of technical expertise, practical experience, and global exposure to stay ahead," said the programme director Arindam Banerjee. The CFA Institute is also playing a growing role in shaping ethical investment education in India. Paul Moody, managing director of global partnerships at the institute, highlighted ongoing efforts to reduce costs and expand access. "This is an international degree, and we're working to make it more affordable," he said. "We've recently reduced the cost of Level One and expanded scholarship options. We're also in talks with several universities for academic tie-ups." Currently, 37 Indian institutions, including IIM Mumbai and IIM Nagpur, are affiliated to the CFA program. While welcoming this move, Chartered Accountant and member of the institute of chartered accountants of India (ICAI) Chandrashekhar Chitale said, "Such tie-ups with CFP and CFA bodies are a major step forward. They not only professionalize the field of financial planning in India but also bridge the trust and knowledge gap between investors and advisors. The result is a more empowered investor class and a more ethical and informed financial advisory profession."...