Financial planning is the process of establishing personal and financial goals and creating a way to reach them. The ongoing process involves taking stock of all your existing resources, developing a plan to utilize them and systematically implementing the plan in order to achieve your short and long-term goals. The plan must be monitored and reviewed periodically so that adjustments can be made, if necessary, to assure that it continues to move toward your financial goals.
The ultimate goal in personal financial planning is to cultivate and preserve your personal wealth through asset allocation and portfolio management. This is accomplished through a process of personal and professional analysis to determine the optimal allocations for the various types of assets that will suit your investment time horizon and risk tolerance.
