METHOD AND SYSTEM FOR GENERATING A FINANCIAL PLAN SCORE

• US 20110112985A1
• Filed: 11/05/2010
• Published: 05/12/2011
• Est. Priority Date: 11/06/2009
• Status: Abandoned Application

• Current Assignee: Peter George Kocmond
• Original Assignee: Peter George Kocmond
• Inventors: KOCMOND, Peter George
• Application Number:
  US12/940,188
• Publication Number:
  US 20110112985A1
• Time in Patent Office: Days
• US Class Current: 705/36.R
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A system for generating a financial plan score including a financial plan engine operable within a service provider computing system. The financial plan engine generates a financial plan score by interpreting information input by a user. The system includes at least one user device in network communication with the financial plan engine. A user inputs information into the financial plan engine through the at least one user device. And, the system includes at least one third-party data source. The financial plan engine is in network communication with the at least one third-party data source and is operable to produce a financial score.

Claims

1. A system for generating a financial plan score, comprising:

a financial plan engine operable within a service provider computing system, wherein the financial plan engine generates a financial plan score by interpreting information input by a user; and

from at least one user device in network communication with the financial plan engine, wherein the user inputs information into the financial plan engine through the at least one user device; and

at least one third-party data source designated by the user, wherein the financial plan engine is in network communication with the at least one third-party data source, wherein the financial plan engine generates a financial plan score through evaluation of the information input by the user and information from the third-party data source.

2. The system of claim 1, wherein the financial plan engine comprises a weighting tool operable to generate weighted financial goals based on the user input information.

3. The system of claim 2, wherein the user input information comprises at least one of personal information, personal financial information, and financial goals information.

4. The system of claim 3, wherein the personal financial information is manually input by the user.

5. The system of claim 3, wherein the personal financial information is accessed directly from the third-party data source designated by the user.

6. The system of claim 3, wherein the financial goals information comprises at least one of goal categorization, goal weighting, and goal details.

7. The system of claim 6, wherein the user inputs the financial goals information by selecting from pre-determined prioritizing responses provided by the financial plan engine.

8. The system of claim 7, wherein the user selects answers selected from the pre-determined responses generate additional profiling questions to the user.

9. The system of claim 8, wherein the weighting tool assigns a pre-determined numerical value to each user financial goal information based on priority associated with pre-determined priority responses, and the sum of the goal numerical value represents a maximum amount attainable.

10. The system of claim 9, wherein the weighting tool compares the user financial goal numerical values to the responses and generates a user-specific score.

11. A method for generating a financial plan score, comprising:

receiving user information into a financial plan engine through a network communication, wherein the user information comprises at least one of personal information, personal financial information, and financial goals;

accessing at least one third-party data source via the network communication, wherein the third-party data source is accessed based on the user information;

generating a user profile comprising the user information and the accessed third-party data source information;

generating and prioritizing user goals based on used selections of pre-determined responses generated by the financial plan engine;

assigning a numerical value to each goal by comparing the user information with the prioritized status of the goals, wherein each numerical value is assigned to each goal based on its prioritized status, and the sum of the goal numericals value represents a maximum amount attainable; and

generating an overall score that represents a comparison of the financial goals and the user profile.

12. The method of claim 11, wherein the financial plan engine comprises a weighting tool operable to weight the goals based on the user information.

13. The method of claim 12, wherein the user information comprises at least one of personal information, personal financial information, and financial goals information.

14. The method of claim 13, wherein the financial goals information comprises at least one of goal categorization, goal weighting, and goal details.

15. A method for generating a financial score, comprising:

accessing a user profile, wherein the user profile comprises at least information including family status, user age, and financial status;

generating at least one recommendation based on the user profile;

prioritizing the financial goals, wherein the financial goals are prioritized by evaluating user-entered preferences comprising at least goal categorization and goal weight; and

scoring the financial goals with a numeric value up to a maximum value, wherein each score is calculated by comparing the difference between the at least one recommendation and the prioritized financial goals.

16. The method of claim 15, wherein the goal categorization preferences are entered by the user through pre-defined answers comprising at least core goals, primary goals, secondary goals, not applicable, or fully funded).

17. The method of claim 16, wherein user-defined goal preferences are entered by the user through pre-determined answers defining the comparative value of each goal categorization preference.

18. The method of claim 17, wherein the financial goal user-entered preferences further comprise goal details/elements comprising at least goal target, savings percentage, goal time horizon, and risk allocation.

19. The method of claim 18, wherein the financial goal score comprises individual scores for an overall financial score, a score for an individual goal, and a score for an individual goal detail/element.