RT Journal Article SR Electronic T1 Wealth Management JF The Journal of Wealth Management FD Institutional Investor Journals SP 19 OP 28 DO 10.3905/jwm.11.2.19 VO 11 IS 2 A2 Kirk Loury YR 2008 UL https://pm-research.com/content/11/2/19.abstract AB 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