Monetaire wealth management platform

• US 20040054610A1
• Filed: 11/26/2002
• Published: 03/18/2004
• Est. Priority Date: 11/28/2001
• Status: Abandoned Application

• Current Assignee: Monetaire
• Original Assignee: Monetaire
• Inventors: Kelleher, Michael, Carr, Damon W., Amstutz, Arnold E., Miele, Louis J., Neff, Michael
• Application Number:
  US10/304,015
• Publication Number:
  US 20040054610A1
• Time in Patent Office: Days
• US Class Current: 705/36
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A system and method facilitating financial advice delivery by linking product and service recommendations to objective financial advice. A generic abstraction of all strategic and tactical financial goal setting, analysis, funding and tracking elements into a set of distinct conceptual building blocks, which, in combination, provide a comprehensive representation of all aspects of balance sheet, income statement, cash flow and insurance planning and analysis. A proprietary Rule Builder Workstation governs all aspects of Wealth Management applications including business/financial advice logic, constants and user interface elements. Business rules controlling content, advice, and presentation format across multiple employee and customer facing applications are written and modified in an environment that enables business usurers to dynamically add or update rules without a new release of the software. A Computational Engine provides an object-oriented software abstraction of complex earnings/expense, balance sheet and cash-flow modeling through which all quantitative and statistical functions are performed. The Engine handles complex combinations of overlapping conditions and constraints, monetary inflow/outflow scenarios and multi-stage flows that change characteristics based on critical events delivering uniform advice consistent with Abstraction structures across all delivery channels. This software API uniquely encapsulates all attributes of, and relationships among, these processes in a single component. For example, it is possible to leverage Extensible Markup Language (XML) over the Hypertext Transfer Protocol (HTTP) or Hypertext Transfer Protocol Secure (HTTPS).

Claims

1. A wealth management platform for global financial advice delivery, comprising:

a rule builder workstation, the rule builder workstation including a code generator for converting rule definitions and communication module output to instruction sets,

a computation engine for providing an object-oriented software abstraction of a financial transaction,

a user interface for permitting a user to access the wealth management platform from a user terminal in electronic communication with the wealth management platform via a distributed or local network, and

at least one module selected from the group consisting of a needs identification module, a debt management module, a product selection and advisory module, a goal tracking and review module, a tailored portfolio generation module, a proactive communication module, a customized proposal generation module, a retirement advice module, a major purchase module, an education module, an insurance module, a wealth building module, a generic goal module, and a wealth group profiling module.

2. The system of claim 1, wherein the rule builder workstation includes, or accesses a database including, at least one meta data selected from the group consisting of rule expression abstractions, system constants, pick lists, model portfolio abstractions, investment and debt products, risk questionairre abstractions, text element definitions, report and document mappings, platform initialization data, rule builder configuration data, and rule builder archives.

3. A method for delivering financial advice, comprising

defining platform rules,

defining document templates,

defining platform constants and pick lists,

defining platform portfolios,

defining platform product and asset mappings,

defining risk tolerance questionnaires,

publishing platform definitions,

verifying platform definitions,

storing definitions in a rule builder database,

accessing the rule builder database from a rule builder workstation, in response to a query for financial advice.

4. A method for delivering financial advice, comprising

connecting to a wealth management platform via a local or distributed network,

establishing a financial profile,

formulating an investment plan,

implementing an investment plan, and

setting report and alert criteria,

wherein the financial profile is entered into a rule builder workstations, the rule builder workstation accesses a rule builder database and computation engine, and financial advice generated is the rule builder to form the investment plan.