Overview of Financial Planning

Benjamin Leitman earned a bachelor of science in finance and entrepreneurship from Syracuse University in New York. He serves as business manager at ML Management Partners, a New York-based business management firm offering financial solutions to high net worth individuals and clients in the sports and entertainment industries. Benjamin Leitman provides clients various financial services, including investment management and financial planning.

Financial planning is the process of estimating a company or individual’s financial situation, capital requirements, and long-term monetary goals. This practice aims to define corporate finance goals and establish financial blueprint and policies for future activities. Financial plans typically outline business strategies and long-term investment decisions concerning the procurement and administration of a business funds.

The process usually begins with determining capital requirements by estimating the cost of assets and promotional expenses, whether short-term or long-term. Insight into the capital requirements enables the financial planner to identify funding sources and estimate the time for securing funds. The structure through which a company acquires its funding is also outlined in the financial plan and includes decisions on long-term and short-term debt-equity rato.