1. In an financial advisory system, a method of financial product selection comprising the steps of: generating return scenarios for each asset class of a plurality of asset classes based upon future scenarios of one or more economic factors, creating a mapping from each financial product of an available set of financial products onto one or more asset classes of the plurality of asset classes by determining exposures of the available set of financial products to each asset class of the plurality of asset classes; simulating return scenarios for one or more portfolios including combinations of financial products from the available set of financial products based upon the mapping; determining an optimal feasible portfolio comprising one or more financial products of the available set of financial products based upon the step of simulating return scenarios and taking into consideration expected contributions and expected withdrawals; and maximizing a mean-variance utility function of the form: ##EQU5## where for a given scenario, E(W.sub.T)is the expected value of wealth at a time T, Var(W.sub.T) is the variance of wealth at time T, .tau. is a user's risk tolerance, ##EQU6## where, X.sub.i represents a recommended constant proportion of each net contribution that should be allocated to financial product i, C.sub.t represents a net contribution at time t, R.sub.ji represents expected returns for financial product i in year j, n is the number of financial products that are available for optimization, and g is a value of constrained assets for a given scenario.