Issues of Definition
Textbooks used in colleges offering financial planning-related courses also generally do not define the term 'financial plan'. For example, Sid Mittra, Anandi P. Sahu, and Robert A Crane, authors of Practicing Financial Planning for Professionals do not define what a financial plan is, but merely defer to the Certified Financial Planner Board of Standards' definition of 'financial planning'.
Because of the lack of a formal definition in industry literature, and in major textbooks on the subject, the term 'financial plan' is merely inferred from the defined process of 'financial planning'.
Read more about this topic: Financial Plan
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