In some cases, a financial plan may include recommendations for portfolio management as part of the overall strategy for achieving your goals. However, financial planning and portfolio management are not the same thing.A financial plan will focus on a wide range of financial planning activities beyond just portfolio management. This will include an outline of your financial goals and objectives and will provide a roadmap for achieving them. Depending on situation, it may include budgeting, saving, investing, debt management, insurance planning, retirement planning, and estate planning. The purpose is to help a person make informed financial decisions that will help them achieve goals.On the other hand, portfolio management refers to the process of selecting and managing a collection of investments, in order to meet specific financial goals. Portfolio management may involve selecting individual stocks, bonds, mutual funds, or other investment vehicles, as well as determining the appropriate asset allocation for the portfolio based on your risk tolerance and financial goals. The goal of portfolio management is to maximize the portfolio's return while minimizing risk – both of which are intended to achieve outcomes of your portfolio plan.When you work with us, we will discuss your options and the best way to proceed for your specific situation.
FinancialPlanAdviser.com's team of FEE-ONLY advisers and CPAs, are dedicated to helping individuals achieve retirement goals by providing expert advice. Act now and take control of your future by Clicking Here for a FREE consultation and connect with a FEE-ONLY professional. Alternatively, visit 1800ADVISER.COM to browse biographies of individual advisers and choose one or more to connect with.