Method of managing financial investments on a group basis

• US 20020116311A1
• Filed: 02/21/2002
• Published: 08/22/2002
• Est. Priority Date: 02/21/2001
• Status: Abandoned Application

• Current Assignee: Finetre Corp. (EBIX Incorporated)
• Original Assignee: Finetre Corp. (EBIX Incorporated)
• Inventors: Chalke, Shane A., Dunlap, Steven J.
• Application Number:
  US10/082,470
• Publication Number:
  US 20020116311A1
• Time in Patent Office: Days
• US Class Current: 705/36
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A group trading software application and method for remotely based investment managers providing the capability for managing multiple investment accounts by user defined groups. The groups can contain multiple investment and subgroups, each of which can be defined by the user around such criteria as on an ad hoc basis, on common levels of risk and by groups of owners. Multiple trading day fund cut off times for each group or subgroup are supported. Pending and complete trade status for each individual account, groups and/or subgroup is provided. The investments can be in any financial product, including annuities, mutual funds and insurance policies.

Claims

1. A system for remotely and automatically managing group based investment allocation comprising:

a) a first computer system, wherein said first computer system can automatically connect to other financial institution'"'"'s computer systems and execute financial trades on said other financial institution'"'"'s computer systems, and receive account trading status reports back from said other financial institution'"'"'s computer systems;

b) a second computer system, connected to said first computer system, wherein managers of investment accounts can enter instructions and receive status reports on the status of the investments making up the investment group from said financial institution'"'"'s computers through said first computer system and then through said second computer system;

c) wherein said managers of said investment accounts can define, on said second computer system, groups of multiple investments, on which said manager desires to execute a set of trade instructions;

d) wherein, said set of trade instructions, from said second computer, concerning each of said managers of said investment accounts defined group of investment, is received by said first computer system;

e) wherein, said first computer system automatically organizes said same set of trade instructions for a group of investment accounts into separate instructions for each individual investment account and transmits said instructions to said financial institution'"'"'s computer system for each said individual investment account;

f) wherein, said financial institutions computer system responds back to said first computer system with the results of each individual trade; and

,

g) wherein said first computer system recompiles said information from each individual trade into said user defined group and forwards said information to said second computer system, wherein said managers can view said results on an individual account or on a group account basis.

2. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, further comprising definable trading day cut off times for each investment.

3. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein said managers of said investment accounts can, through said second computer system, automatically execute a target account re-allocation.

4. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein said managers of said investment accounts can, through said second computer system, automatically execute a target account transfer of all money from one or more investments and distribute it amongst one or more other investments by target percentages.

5. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein said managers of said investment accounts can, through said second computer system, automatically execute regular, pre-timed target account transfer of all money from one or more investments and distribute it amongst one or more other investments by target percentages.

6. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein said managers of said investment accounts can, through said second computer system, modify, cancel or adjust multiple investments at one time.

7. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein said managers of said investments can, through said second computer system, automatically prepare client status reports for a group of contracts, with details on each individual contract.

8. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein said managers of said investment accounts can, through said second computer system, automatically conduct multiple transactions on individual accounts within groups of accounts without human intervention.

9. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein each transaction is automatically checked to ensure that contracts in a group have at least one financial position in common for trades.

10. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein each transaction is automatically checked to ensure that individual contracts do not have outstanding trades placed on them that would negatively impact the trade for that group.

11. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein said managers of said investment accounts can, through said second computer system, form ad-hoc groups of contracts.

12. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein said managers of said investment accounts can, through said second computer system, form standing groups of contracts.

13. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein said managers of said investment accounts can, through said second computer system, automatically cancel or modify transactions on individual accounts within groups of accounts before trade cut off time.

14. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein said first computer system and said second computer system are physically one computer system.

15. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein said first computer system and said second computer system are computer systems in a server and client relationship, respectively.

16. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein the financial group investment is in the form of mutual funds.

17. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein the financial group investment is in the form of annuities.

18. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein the financial group investment is in the form of insurance.

19. A system for remotely and automatically managing group based investment allocation, as recited in claim 1, wherein said first computer system and said second computer system are physically multiple separate computer systems.