Wealth Management System and Method

• US 20120136804A1
• Filed: 11/30/2010
• Published: 05/31/2012
• Est. Priority Date: 11/30/2010
• Status: Abandoned Application

• Current Assignee: Raymond J. Lucia Sr
• Original Assignee: Raymond J. Lucia Sr
• Inventors: Lucia, Raymond J. Sr., Lucia, Raymond J. Jr.
• Application Number:
  US12/957,211
• Publication Number:
  US 20120136804A1
• Time in Patent Office: Days
• US Class Current: 705/36.R
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

Systems and methods for wealth management forecasting are provided. Financial and investment information can be collected from a client who wishes to implement a wealth management plan, and the performance of various scenarios can be forecast. Various scenarios can be developed that include dividing the investment portfolio of the client up into multiple buckets (referred to herein as “bucketizing” the portfolio) where each bucket has a different investment strategy that is part of an overall wealth management plan developed for the client. Each bucket can have different investment timelines and levels of risk associated with the investments in that portfolio. The forecasting process is completely automated, and the client can update various parameters to see how changes to the investment parameters can change the forecasted results of the wealth management plan, and the system can dynamically update the forecast to reflect the updated data.

Claims

1. A technical system for creating and forecasting the performance of a wealth management plan, the system comprising:

a non-transitory computer readable medium for storing computer executable programmed modules;

a processor communicatively coupled with the non-transitory computer readable medium for executing programmed modules stored therein;

a data collection module stored in the non-transitory computer readable medium and configured to

determine a set of buckets into which investments included in an investment portfolio are to be grouped;

construct a questionnaire comprising a set of questions designed to collect financial information for a user for whom a wealth management plan is to be generated; and

analyze responses to the questions included in the questionnaire to determine whether the user has provided enough information to generate a forecast of the performance of the wealth management plan;

a forecasting module stored in the non-transitory computer readable medium and configured to

calculate a projected performance of investments associated with each bucket; and

generate a wealth management plan report based on the projected performance of the investments associated with each bucket and other answers;

a user interface module stored in the non-transitory computer readable medium and configured to

generate a bucket creation user interface to be displayed to the user on a user device and designed to collect information from the user, said information used by the data collection module to identify the set of buckets;

generate a questionnaire user interface designed to collect user responses to the set of questions selected by the data collection module; and

generate a report interface for displaying wealth management plan report data to the user on a display of the user device.

2. The system of claim 1, further comprising:

a user authentication module stored in the non-transitory computer readable medium and configured to control access to the system by verifying credentials of a user before allowing the user to access content on the system.

3. The system of claim 2, wherein the authentication module is configured to encrypt communications between the system and the user device.

4. The system of claim 1, further comprising:

a communication module stored in the non-transitory computer readable medium and configured to allow a user to send communications to a financial advisor and configured to allow the financial advisor to send communications to the user.

5. The system of claim 4, wherein the report interface includes an implement plan control that, when activated, causes the communication module to send the wealth management plan report to a financial advisor to implement the wealth management plan.

6. The system of claim 3, wherein the communication module is configured to select a financial advisor from a set of financial advisors associated with the system.

7. The system of claim 3, wherein the user interface module is configured to generate a list of financial advisors to be displayed to the user, and wherein the communication module is configured to prompt the user to select a financial advisor from the list of financial advisors if the user has not already selected a financial advisor.

8. The system of claim 1, wherein the user interface module is configured to embed on or more explanatory videos in user interfaces generated by the user interface module, the explanatory videos comprising a short video clip explaining questions or content on the user interface.

9. A computer implemented method for creating and forecasting the performance of a wealth management plan, where one or more processors are programmed to perform steps comprising:

receiving a request to create a wealth management plan from a user device;

identifying a set of buckets to include in the wealth management plan into which investments included in the wealth management plan will be allocated;

generating a questionnaire to collect information from the user;

generating a user interface to display the questionnaire to the user and collect user responses to the questions in the questionnaire;

receiving responses to the questions from the user;

forecasting the performance of investments associated with each buckets in the set of buckets; and

generating a wealth management plan report based on the responses provided by the user.

10. The method of claim 9, wherein identifying the buckets further comprises:

selecting a default set of buckets to be used for creating the wealth management plan from a set of default buckets definitions.

11. The method of claim 9, wherein identifying the buckets further comprises:

selecting a set of buckets based on investment goal information provided by the user.

12. The method of claim 9, wherein identifying the buckets further comprises:

selecting a set of buckets based on investment goal information provided by the user.

13. The method of claim 12, wherein identifying buckets further comprises:

calculating a score based a set of responses to a set of investment goal questions designed to assess the investment goals of the user; and

selecting a set of buckets to be used to implement the wealth management plan from a plurality of predefined buckets configurations based on the score.

14. The method of claim 9, wherein generating the questionnaire further comprises:

accessing a set of questions stored in the data store;

selecting questions related to the types of investments to be included in each of the buckets.

15. The method of claim 9, further comprising:

dynamically updating the contents of the user interface to reflect the responses that the user provides to the questions included in the questionnaire.

16. The method of claim 9, further comprising:

receiving a request from the user to implement the wealth management plan illustrated in the wealth management plan report;

matching the user to a financial advisor; and

sending a the wealth management plan report to the financial advisor.

17. The method of claim 16, wherein matching the user to a financial advisor further comprises:

selecting a financial advisor from a list of candidate financial advisors based on user information provided by the user.

18. The method of claim 17, wherein sending the wealth management plan report to the financial advisor further comprises:

generating a communication that includes contact information for the user and that explains the wealth management plan; and

sending the communication and the wealth management plan report to the user.

19. The method of claim 9, wherein each bucket can have one or more investments associated with the bucket, and each bucket can have a different set of investment goals and timelines associated with the investments associated with the bucket.

20. The method of claim 19, wherein generating wealth management plan report based on the responses provided by the user further comprises:

forecasting the performance of the investments associated with each of the buckets.

21. A computer implemented method for creating and forecasting the performance of a hypothetical wealth management plan, where one or more processors are programmed to perform steps comprising:

receiving a request from a financial advisor to generate a hypothetical wealth management plan for a client, the request including a set of financial information for the client;

identifying a set of buckets to include in the wealth management plan into which investments included in the wealth management plan will be allocated;

generating a hypothetical wealth management plan report for the client based on the financial information provided by the financial advisor; and

sending the hypothetical wealth management plan report to the financial advisor.

22. The method of claim 21, wherein generating the hypothetical wealth management plan report for the client based on financial information further comprises:

forecasting the performance of the investments associated with each of the buckets.

23. The method of claim 22, further comprising:

identifying information required to generate the wealth management plan that is missing from the financial information provided by the financial advisor; and

selecting default information to replace the missing information; and

generating a hypothetical wealth management plan report for the client based on the financial information provided by the financial advisor and the default information.