6. Monitoring the financial planning recommendations: The client and the planner
should agree on who will monitor the client??™s progress towards his goals. If the plan-
Arch tecture of an Informat on System for Personal F nanc al Plann ng
Copyright ?© 2007, Idea Group Inc. Copying or distributing in print or electronic forms without written permission
of Idea Group Inc. is prohibited.
ner is in charge of the process, he should report to the client periodically to review
his situation and adjust the recommendations, if needed, as the client??™s life changes.
Systems,.Models,.Architectures
Models are simplifications of reality. Models exist at various levels of abstraction. A level of
abstraction indicates how far removed from the reality a model is. High levels of abstraction
represent the most simplified models. Low levels of abstraction have close correspondence
with the system that they are modelling. An exact 1:1 correspondence is no longer a model,
but rather a transformation of one system to another. Systems are defined as follows:
Definition 5: A system is a collection of connected units organized to accomplish a purpose.
A system can be described by one or more models, possibly from different viewpoints.
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