TY - JOUR T1 - Wealth Management JF - The Journal of Wealth Management SP - 19 LP - 28 DO - 10.3905/jwm.11.2.19 VL - 11 IS - 2 A2 - Loury, Kirk Y1 - 2008/07/31 UR - https://pm-research.com/content/11/2/19.abstract N2 - For both wealth managers and investors, a disconnect can result over time as to how the performance of a wealth plan meets the client's short-, mid-, and long-term needs. Failing to fund these needs can create life-changing consequences that may not appear for years into the future, until it is often too late to change course. The use of the structural principles of a balance sheet enables wealth planning to proceed methodically and efficiently by matching pro-forma after-tax cash flows across various time horizons. The sequential matching of cash flows drives a number of different insights into portfolio management tactics, such as need hierarchies, asset allocation, and rebalancing.TOPIC: Wealth management ER -