System and method for providing financial planning and advice

• US 20030028466A1
• Filed: 07/31/2002
• Published: 02/06/2003
• Est. Priority Date: 07/31/2001
• Status: Active Grant

• Current Assignee: Ameriprise Financial, Inc.
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Ledson, Mark, Lipinski, Patti P., Moran, William J., Ostrem, Linda, Vanney, Beth M., Jenson, Jodi
• Granted Patent: US 8,407,125 B2
• Time in Patent Office: Days
• US Class Current: 705/36
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

The present invention provides systems and methods for facilitating financial advising and planning for a user. In accordance with an exemplary embodiment of the present invention, the system includes a portfolio integration module for facilitating integration of a user'"'"'s goals, assets, savings, and risk tolerance to facilitate analyzing and developing a customized strategy for financial portfolio planning of the user. A portfolio reconciler module in communication with the portfolio integration module facilitates comparison of the customized strategy to other strategies and projected user financial decisions in order to further facilitate the financial portfolio planning of the user. A stochastic modeling module in communication with the portfolio integration module and the portfolio reconciler module for facilitating use of data from the portfolio integration module and the portfolio reconciler module in a stochastic modeling analysis using a synchronous stationary bootstrap sampling method to facilitate creation of a proposed situation portfolio for the user. A simulator module in communication with the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module for facilitating forecasting the effects of the proposed situation portfolio on the user'"'"'s portfolio, and monitoring, simulating, designing, and testing the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module.

Claims

1. A probability modeling system for facilitating financial advising and planning, comprising:

a portfolio integration module for facilitating integration of at least one of a user'"'"'s goals, assets, savings, and risk tolerance to facilitate analyzing and developing a customized strategy for financial portfolio planning of the user;

a portfolio reconciler module in communication with the portfolio integration module for facilitating comparison of the customized strategy to at least one of other strategies and projected user financial decisions in order to further facilitate the financial portfolio planning of the user; and

a stochastic modeling module in communication with at least one of the portfolio integration module and the portfolio reconciler module for facilitating use of data from at least one of the portfolio integration module and portfolio reconciler module in a stochastic modeling analysis to facilitate creation of a proposed situation portfolio for the user.

2. The system of claim 1, wherein the portfolio reconciler module monitors at least one of buy, sell, and hold recommendations for the proposed situation portfolio and dynamically updates the proposed situation portfolio with the at least one of buy, sell, and hold recommendations.

3. The system of claim 1, wherein the stochastic modeling analysis uses at least one of a stationary bootstrap sampling method and a synchronous stationary bootstrap sampling method.

4. The system of claim 1, wherein the stochastic modeling module measures the probability of the user reaching at least one user goal.

5. A probability modeling system for facilitating financial advising and planning, comprising:

a portfolio integration module for facilitating integration of at least one of a user'"'"'s goals, assets, savings, and risk tolerance in analyzing a customized strategy for financial portfolio planning of the user;

a portfolio reconciler module in communication with the portfolio integration module for facilitating comparison of the customized strategy to at least one of other strategies and projected financial decisions in order to further facilitate the financial portfolio planning of the user;

a stochastic modeling module in communication with at least one of the portfolio integration module and the portfolio reconciler module for facilitating use of data from at least one of the portfolio integration module and the portfolio reconciler module in a stochastic modeling analysis to facilitate creation of a proposed situation portfolio for the user; and

a simulator module in communication with at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module for at least one of;

facilitating forecasting the effects of the proposed situation portfolio on the user'"'"'s portfolio;

monitoring at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module;

simulating at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module;

designing at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module; and

testing at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module.

6. The system of claim 5, wherein the simulator module is configured to forecast effects based on at least one of a country'"'"'s current economic data, a country'"'"'s historical economic data, current world economic data, and historical world economic data.

7. The system of claim 5, wherein stochastic modeling analysis uses at least one of a stationary bootstrap sampling method and a synchronous stationary bootstrap sampling method.

8. The system of claim 5, wherein the simulator module is configured to facilitate use of at least one of the user'"'"'s historical portfolio data, historical economic data, financial decisions, investment strategy, present cash flow, future cash flow, and goals in order to facilitate forecasting the effects of the proposed situation portfolio on the user'"'"'s portfolio.

9. A method for facilitating financial advising and planning, comprising the steps of:

integrating at least one of a user'"'"'s goals, assets, savings, and risk tolerance to facilitate analysis of a customized strategy for financial portfolio planning of a user;

comparing the customized strategy to at least one of other strategies and projected financial decisions in order to further facilitate the financial portfolio planning of the user;

using data from the integration and comparison steps in a stochastic modeling analysis which includes at least one of a stationary bootstrap sampling method and a synchronous stationary bootstrap sampling method to facilitate creation of a proposed situation portfolio for the user; and

at least one of facilitating;

forecasting the effects of the proposed situation portfolio on the user'"'"'s portfolio;

monitoring at least one of the integrating, comparing, and using data steps;

simulating at least one of the integrating, comparing, and using data steps;

designing at least one of the integrating, comparing, and using data steps; and

testing at least one of the integrating, comparing, and using data steps.

10. A system for facilitating financial advising and planning, comprising:

a host system including a processor for processing data associated with a user;

a memory in communication with the processor for storing the data;

an input digitizer in communication with the memory and the processor for inputting the data into the memory; and

an application program stored in the memory and accessible by the processor for directing processing of the data by the processor, wherein the application program is configured to facilitate the steps of;

integrating at least one of a user'"'"'s goals, assets, savings, and risk tolerance in facilitating analysis of a customized strategy for financial portfolio planning of a user;

comparing the customized strategy to at least one of other strategies and projected financial decisions in order to further facilitate the financial portfolio planning of the user;

using data from the integration and comparison steps in a stochastic modeling analysis which includes at least one of a stationary bootstrap sampling method and a synchronous stationary bootstrap sampling method to facilitate creation of a proposed situation portfolio for the user; and

at least one of facilitating;

forecasting the effects of the proposed situation portfolio on the user'"'"'s portfolio;

monitoring at least one of the integrating, comparing, and using data steps;

simulating at least one of the integrating, comparing, and using data steps;

designing at least one of the integrating, comparing, and using data steps; and

testing at least one of the integrating, comparing, and using data steps.

11. A computer implemented method for facilitating financial advising and planning, comprising the steps of:

obtaining data in connection with a user via a communication channel in communication with a computer system having a memory and a processor;

storing the data in the memory and configuring, via said processor, the data to integrate at least one of the user'"'"'s goals, assets, savings, and risk tolerance in analyzing a customized strategy for financial portfolio planning of the user;

comparing, via said processor, the customized strategy to at least one of other strategies and projected financial decisions in order to further facilitate the financial portfolio planning of the user;

analyzing, via said processor, the data from the integration and comparison in a stochastic modeling analysis to facilitate creation of a proposed situation portfolio for the user; and

at least one of facilitating, via said computer system;

forecasting the effects of the proposed situation portfolio on the user'"'"'s portfolio;

monitoring at least one of the integrating, comparing, and analyzing the data steps;

simulating at least one of the integrating, comparing, and analyzing the data steps;

designing at least one of the integrating, comparing, and analyzing the data steps; and

testing at least one of the integrating, comparing, and analyzing the data steps.

12. A system for facilitating financial advising and planning, comprising:

a host server for accepting and processing data in connection with a user;

a database in communication with the host server for collecting data on the user and using a portfolio integration module to analyze the data in order to integrate at least one of the user'"'"'s goals, assets, savings, and risk tolerance in analyzing a customized strategy for financial portfolio planning of the user;

a second database in communication with at least one of the host server and the database for using a portfolio reconciler module in communication with the portfolio integration module for comparing the customized strategy to at least one of other strategies and projected financial decisions in order to further facilitate the financial portfolio planning of a user;

a third database in communication with at least one of the host server, the database, and the second database for using a stochastic modeling module in communication with at least one of the portfolio integration module and the portfolio reconciler module for using data from at least one of the portfolio integration module and the portfolio reconciler module in a stochastic modeling analysis to facilitate creation of a proposed situation portfolio for the user; and

a second server having a simulator module in communication with at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module for at least one;

facilitating forecasting the effects of the proposed situation portfolio on the user'"'"'s portfolio;

monitoring at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module;

simulating at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module;

designing at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module; and

testing at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module.

13. A system for facilitating financial advising and planning, comprising:

a browser for submitting data to a web server, wherein the browser and the web server communicate via a communication channel and the data submitted to the web server includes information in connection with at least one of a user'"'"'s goals, assets, savings, and risk tolerance;

a portfolio integration module associated with the web server for using at least one of the user'"'"'s goals, assets, savings, and risk tolerance to develop a customized strategy for financial portfolio planning of the user;

a portfolio reconciler module associated with the web server and in communication with the portfolio integration module for comparing the customized strategy to at least one of other strategies and projected financial decisions in order to further facilitate the financial portfolio planning of a user; and

a stochastic modeling module associated with the web server and in communication with at least one of the portfolio integration module and the portfolio reconciler module for using data from at least one of the portfolio integration module and the portfolio reconciler module in a stochastic modeling analysis to facilitate creation of a proposed situation portfolio for the user.

14. The system of claim 13, further comprising a simulator module in communication with at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module for at least one of:

facilitating forecasting the effects of the proposed situation portfolio on the user'"'"'s portfolio;

monitoring at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module;

simulating at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module;

designing at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module; and

testing at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module.