Asset allocation is to financial planning what well visits are to medicine—that is, a regular and structured way to make sure everything is working in the way that it should. Most experienced financial planners will already be familiar with most of the material in David M. Darst's book, The Little Book That Saves Your Assets.

"Compared with exciting new investments, asset allocation can seem boring, but the importance of thoughtfully formulating a plan can't be overstated," writes the chief investment strategist of the Global Wealth Management Group at Morgan Stanley.

The timing couldn't be better for the book's August release, with the markets entering bear territory and anxiety over the economy deepening across the country. But Darst's lessons are timeless: the importance of diversification, matching assets to goals and not "confusing a bull market for brains." He imparts them and quite a bit more in a highly readable little book that would make a great present not only for first-time clients and prospects but junior planners as well.