ans ▁a ▁generation ▁of ▁pl ann ers ▁who ▁have ▁used ▁his ▁instruction ▁and ▁ment oring ▁to ▁pol ish ▁their ▁technical ▁expert ise ." ▁ ▁Policy - B ased ▁Fin an cial ▁Pl anning ▁T aking ▁a ▁concept ▁first ▁proposed ▁by ▁Hall man ▁and ▁Rosen blo om , ▁Yes ke ▁and ▁El issa ▁Bu ie ▁developed ▁and ▁expanded ▁the ▁concept ▁of ▁Policy - B ased ▁Fin an cial ▁Pl anning . ▁ ▁Their ▁article , ▁" Policy - B ased ▁Fin an cial ▁Pl anning ▁Prov ides ▁Touch stone ▁in ▁a ▁Tur bul ent ▁World ," ▁was ▁published ▁in ▁the ▁Journal ▁of ▁Fin an cial ▁Pl anning ▁in ▁July ▁ 2 0 0 6 . ▁ ▁Bu ie ▁and ▁Yes ke ▁subsequently ▁presented ▁the ▁concept ▁at ▁con ferences ▁around ▁the ▁world , ▁including ▁two ▁national ▁F PA ▁con ferences ▁in ▁the ▁U . S . ▁and ▁con ferences ▁in ▁London , ▁Edinburgh , ▁and ▁Manchester . ▁Fin an cial ▁planning ▁policies ▁are ▁compact ▁statements ▁combining ▁client ▁values ▁and ▁object ives ▁with ▁financial ▁planning ▁best ▁practices ▁to ▁form ▁compact ▁decision ▁rules . ▁ ▁These ▁decision ▁rules ▁facil itate ▁rapid ▁decision ▁making ▁in ▁the ▁face ▁of ▁changing ▁external ▁circumstances . ▁A ▁good ▁policy ▁is ▁one ▁that ▁is ▁at ▁once ▁broad ▁enough ▁to ▁en comp ass ▁any ▁novel ▁event ▁and ▁specific ▁enough ▁to ▁always ▁return ▁a ▁clear ▁answer ▁or ▁action . ▁ ▁Ex amples ▁of ▁such ▁financial ▁planning ▁policies ▁include ▁the ▁safe - with draw al ▁sp ending ▁rules ▁developed ▁by ▁Guy ton ▁and ▁K ling er