Simulator module for providing financial planning and advice

• US 20050004855A1
• Filed: 05/03/2004
• Published: 01/06/2005
• Est. Priority Date: 07/31/2001
• Status: Abandoned Application

• Current Assignee: Ameriprise Financial, Inc.
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Lipinski, Patti P., Ostrem, Linda, Scarlato, Patricia, Vanney, Beth M., Jenson, Jodi
• Application Number:
  US10/837,870
• Publication Number:
  US 20050004855A1
• Time in Patent Office: Days
• US Class Current: 705/35
• 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 using a simulator module. 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 farther 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 system for facilitating financial advising and planning, comprising:

a simulator module configured to facilitate at least one of;

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

monitoring at least one of a portfolio integration module, a portfolio reconciler module, and a 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;

wherein at least one of forecasting, monitoring, simulating, designing, and testing facilitate the financial portfolio planning of the user and creation of the proposed situation portfolio for the user.

2. The system of claim 1, 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.

3. The system of claim 1, 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.

4. The system of claim 1, wherein creation of the proposed situation portfolio includes analysis of a normal life span, disability, long-term care, early death, life insurance information, disability insurance information, Social Security, social pension, asset structure, savings, goals, retirement information, expenses, tax structure of assets, savings, company pension information, and other factors affecting the user'"'"'s financial or personal situation.

5. The system of claim 4, wherein creation of the proposed situation portfolio further includes at least one of:

customized timelines for at least one of normal life span, disability, long-term care, early death, life insurance information, disability insurance information, Social Security, social pension, asset structure, savings, goals, retirement information, expenses, tax structure of assets, savings, company pension information, and other factors affecting the user'"'"'s financial or personal situation;

customized timelines for each member of a family; and

analysis of life expectancy on factors other than retirement information.

6. The system of claim 1, further comprising at least one of the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module in communication with the simulator module in order to further facilitate the financial portfolio planning of the user and creation of the proposed situation portfolio for the user.

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

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

monitoring at least one of a portfolio integration module, a portfolio reconciler module, and a 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;

wherein at least one of forecasting, monitoring, simulating, designing, and testing facilitate the financial portfolio planning of the user and creation of the proposed situation portfolio for the user.

8. 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;

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

monitoring at least one of a portfolio integration module, a portfolio reconciler module, and a 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;

wherein at least one of forecasting, monitoring, simulating, designing, and testing facilitate the financial portfolio planning of the user and creation of the proposed situation portfolio for the user.

9. 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 provide a customized strategy for financial portfolio planning of the user; and

at least one of facilitating, via said computer system;

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

monitoring at least one of a portfolio integration module, a portfolio reconciler module, and a 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;

wherein at least one of forecasting, monitoring, simulating, designing, and testing facilitate the financial portfolio planning of the user and creation of the proposed situation portfolio for the user.

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

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

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

forecasting the effects of a proposed situation portfolio on a 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;

wherein at least one of forecasting, monitoring, simulating, designing, and testing facilitate the financial portfolio planning of the user and creation of the proposed situation portfolio for the user.

11. 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 a user; and

a simulator module configured to facilitate at least one of;

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

monitoring at least one of a portfolio integration module, a portfolio reconciler module, and a 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;

wherein at least one of forecasting, monitoring, simulating, designing, and testing facilitate the financial portfolio planning of the user and creation of the proposed situation portfolio for the user.