SYSTEM AND METHOD FOR DYNAMIC, MULTIVARIABLE COMPARISON OF FINANCIAL PRODUCTS

• US 20070192312A1
• Filed: 03/14/2007
• Published: 08/16/2007
• Est. Priority Date: 04/20/2000
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Carnahan, John, Wallace, Bill
• Granted Patent: US 7,433,840 B2
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• 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 multivariable search system for the comparative analysis of financial products allows the user to enter a set of criteria of their choice with desired ranges and in addition, a weighting factor to be applied to the criteria. Mutual funds, for instance, may be searched according to desired rates of return, fund type categories, and assigned levels of weight or emphasis on different ones of the criteria. Search results may be returned in coded form, indicating which candidate products they match all of the selected criteria, and which ones generate the highest net score given the weighting and other factors. Searches may be revised or refined based on the presented results, or new searches may be performed. Hot linkable connections may be presented to transaction sites to carry out purchases, obtain prospectuses, or other activities relating to the mutual fund or other financial products returned.

Claims

1. A system having a processor and memory for multivariable comparison of financial information to generate search results based on user-selected quantitative search criteria and user-selected weighting criteria, comprising:

a processor performing instructions for a client interface for a user to receive weightable search information, the weightable search information comprising user-selected quantitative search criteria and user-selected weighting criteria, the weighting criteria reflecting user-defined levels of importance for one or more of the quantitative search criteria; and

a processor performing instructions for a search interface, communicating with the client interface, to interrogate at least one network-enabled information source according to the weightable search information to generate search results;

wherein the financial information comprises a plurality of financial products, each having multiple quantitative variables associated therewith;

a memory for storing the search results;

the search interface being operative to compare the quantitative variables with the user-selected quantitative search criteria and the user-selected weighting criteria to generate search results comprising;

a first set of financial products that do not satisfy all of the user-selected quantitative search criteria, but which satisfy the overall user-defined criteria based on the combination of the user-selected weighting criteria and the user-selected quantitative criteria, wherein the search results provide a quantitative indication of how well the search results match the weighted criteria;

the search interface to perform subsequent searches within stored results of a prior search to restrict search results;

the search interface operative to perform other subsequent searches to interrogate at least one network-enabled information source to expand search results; and

the search interface operative to recalculate and represent the result indicators which indicate the level the search results match the weighted criteria.

2. The system of claim 1, wherein the one or more financial products comprise one or more mutual funds.

3. The system of claim 1, further comprising a results interface operative to display the search results to the user.

4. The system of claim 3, wherein the results interface comprises a graphical user interface operative to display the one or more financial products in a sortable list.

5. The system of claim 3, wherein the one or more financial products comprise one or more mutual funds, and the results interface is operative to receive requests for a prospectus for one or more of the one or more mutual funds.

6. The system of claim 3, wherein the one or more financial products comprise one or more mutual funds, and the results interface is operative to receive requests for an application for one or more of the one or more mutual funds.

7. The system of claim 1, wherein the search results further comprise a second set of search results comprising financial products that satisfy all of the user-selected quantitative search criteria.

15. The system of claim 1 wherein search criteria are revisable during subsequent searches.

17. The system of claim 1 wherein the addition of search criteria during subsequent searches causes at least one network-enabled information source to expand search results.

19. The system of claim 1, wherein the one or more financial products comprise one or more investment funds.

8. A method for multivariable comparison of financial information to generate search results based on user-selected quantitative search criteria and user-selected weighting criteria, comprising:

a) receiving weightable search information from a client interface, the weightable search information comprising user-selected quantitative search criteria and user-selected weighting criteria, the weighting criteria reflecting user-defined levels of importance for one or more of the quantitative search criteria; and

b) accessing at least one network-enabled information source comprising financial information regarding a plurality of financial products, each financial product having multiple quantitative variables associated therewith;

c) comparing the quantitative variables with the user-selected quantitative search criteria and the user-selected weighting criteria;

d) generating search results comprising;

a first set of financial products that do not satisfy all of the user-selected quantitative search criteria, but which satisfy the overall user-defined criteria based on the combination of the user-selected weighting criteria and the user-selected quantitative criteria, wherein the search results indicate the level the search results match the weighted criteria;

e) performing subsequent searches comprising;

searching within stored results of a prior search to restrict search results;

interrogating at least one network-enabled information source to expand search results;

recalculating and represent the result indicators which provide a quantitative indication of how well the search results match the weighted criteria.

9. The method of claim 8, wherein the one or more financial products comprise one or more mutual funds.

10. The method of claim 8, further comprising displaying the search results to the user.

11. The method of claim 10, wherein displaying the search results to the user comprises displaying the one or more financial products in a sortable list on a graphical user interface.

12. The method of claim 10, wherein the one or more financial products comprise one or more mutual funds, and the method further comprises receiving a request for a prospectus for one or more of the one or more mutual funds.

13. The method of claim 10, wherein the one or more financial products comprise one or more mutual funds, and the method further comprises receiving an application for one or more of the one or more mutual funds.

14. The method of claim 8, wherein generating search results further comprises:

generating a second set of search results comprising financial products that satisfy all of the user-selected quantitative search criteria.

16. The method of claim 8 wherein search criteria are revisable during subsequent searches.

18. The method of claim 8 wherein the addition of search criteria during subsequent searches causes at least one network-enabled information source to expand search results.

20. The method of claim 8, wherein the one or more financial products comprise one or more investment funds.