Virtual client discount pricing
First Claim
1. A method for assessing investment management fees to accounts, wherein the accounts are maintained in an investment management system, wherein the accounts are held by a plurality of participants in a virtual client, wherein each of the participants has at least one account, wherein each account is assigned to a respective one of a plurality of product categories, wherein said assessing fees comprises:
- for each of the plurality of product categories, calculating a product volume fee for each account using a computer system;
determining a group discount for the virtual client, wherein the group discount is based on market value in all accounts for the plurality of product categories in the virtual client, wherein the group discount is based on a single group discount rate, and wherein the group discount rate is applied to each of the respective accounts in the virtual client;
determining an adjuster for each account in the virtual client, wherein, for each respective account, the adjuster is based on market value of the respective account in the virtual client, wherein each of the adjusters is based on a respective adjuster discount rate, and wherein the adjuster discount rates vary with the market value of the respective accounts in the virtual client;
calculating a fee for each respective account based on the product volume fee for the respective account, the group discount, and the adjuster for the respective account; and
billing the participants for the calculated fees on a periodic basis using the computer system.
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Abstract
A Virtual Client Discount Pricing system and method that allows a number of individuals or entities, referred to as participants, to create a virtual client for the purpose of purchasing, leasing or renting of products and services, especially investment management services. The plurality of individuals or entities, referred to as participants, gather together to form the virtual client. In general, the virtual client is created to enable the participants to access goods or services from a provider, or numerous providers, using a discounted rate. In this manner, when the participants of the virtual client access goods or services from the provider, each of the participants receives a discounted rate from the provider using the virtual client, as compared to each of the participants individually accessing goods or services from the provider.
93 Citations
54 Claims
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1. A method for assessing investment management fees to accounts, wherein the accounts are maintained in an investment management system, wherein the accounts are held by a plurality of participants in a virtual client, wherein each of the participants has at least one account, wherein each account is assigned to a respective one of a plurality of product categories, wherein said assessing fees comprises:
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for each of the plurality of product categories, calculating a product volume fee for each account using a computer system;
determining a group discount for the virtual client, wherein the group discount is based on market value in all accounts for the plurality of product categories in the virtual client, wherein the group discount is based on a single group discount rate, and wherein the group discount rate is applied to each of the respective accounts in the virtual client;
determining an adjuster for each account in the virtual client, wherein, for each respective account, the adjuster is based on market value of the respective account in the virtual client, wherein each of the adjusters is based on a respective adjuster discount rate, and wherein the adjuster discount rates vary with the market value of the respective accounts in the virtual client;
calculating a fee for each respective account based on the product volume fee for the respective account, the group discount, and the adjuster for the respective account; and
billing the participants for the calculated fees on a periodic basis using the computer system. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23)
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24. A computer-implemented method for assessing investment management fees to accounts, wherein the accounts are maintained in an investment management system, wherein the accounts are held by a plurality of participants in a virtual client, wherein the virtual client persists beyond a purchase at a single point in time, wherein each of the participants has at least one account, wherein said assessing fees comprises:
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calculating a product volume fee for each account using a computer system;
determining a group discount for the virtual client, wherein the group discount is based on market value in all accounts in the virtual client, wherein the group discount is based on a single group discount rate, and wherein the group discount rate is applied to each of the respective accounts in the virtual client;
determining an adjuster for each account in the virtual client, wherein, for each respective account, the adjuster is based on market value of the respective account in the virtual client, wherein each of the adjusters is based on a respective adjuster discount rate, and wherein the adjuster discount rates vary with the market value of the respective accounts in the virtual client;
programmatically calculating a fee for each respective account based on the product volume fee for the respective account, the group discount, and the adjuster for the respective account; and
storing the calculated fees in a memory of the computer system. - View Dependent Claims (25)
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26. A method for assessing investment management fees to participants, comprising:
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determining fees for each account in a virtual client, wherein the virtual client comprises a plurality of participants, wherein each of the participants has at least one account, wherein each account is assigned to a respective one of a plurality of product categories;
wherein said determining fees comprises;
for each of the plurality of product categories, calculating a product volume fee for each account using a computer system;
determining a group discount for the virtual client, wherein the group discount is based on assets in all accounts for the plurality of product categories in the virtual client, wherein the group discount is based on a single group discount rate, and wherein the group discount rate is applied to each of the respective accounts in the virtual client;
determining an adjuster for each account in the virtual client, wherein, for each respective account, the adjuster is based on assets of the respective account in the virtual client, wherein each of the adjusters is based on a respective adjuster discount rate, and wherein the adjuster discount rates vary with the market value of the respective accounts in the virtual client; and
calculating a fee for each respective account based on the product volume fee for the respective account, the group discount, and the adjuster for the respective account; and
billing each of the participants in the virtual client for the respective determined fees on a periodic basis using the computer system.
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27. A method for managing investment accounts, comprising:
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providing investment management services to a virtual client, wherein the virtual client comprises a plurality of participants, wherein each of the participants has at least one account, wherein each account is assigned to a respective one of a plurality of product categories; and
determining fees for each of the accounts in the virtual client, comprising;
for each of the plurality of product categories, calculating a product volume fee for each account using a computer system;
determining a group discount for the virtual client, wherein the group discount is based on assets in all accounts for the plurality of product categories in the virtual client, wherein the group discount is based on a single group discount rate, and wherein the group discount rate is applied to each of the respective accounts in the virtual client;
determining an adjuster for each account in the virtual client, wherein, for each respective account, the adjuster is based on assets of the respective account in the virtual client, wherein each of the adjusters is based on a respective adjuster discount rate, and wherein the adjuster discount rates vary with the market value of the respective accounts in the virtual client; and
calculating a fee for each respective account based on the product volume fee for the respective account, the group discount, and the adjuster for the respective account; and
billing each of the participants in the virtual client for the respective determined fees on a periodic basis using the computer system.
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28. A computer-implemented method for determining product pricing for accounts in a virtual client, wherein the virtual client comprises a plurality of participants, wherein each of the participants has at least one account, wherein each account is assigned to at least one product category of a plurality of product categories, wherein said determining product pricing comprises:
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programmatically calculating a product price for each account;
using a computer systemprogrammatically determining a group discount for the virtual client, wherein the group discount is based on total volume in all accounts for the plurality of product categories in the virtual client, wherein the group discount is based on a single group discount rate, and wherein the group discount rate is applied to each of the respective accounts in the virtual client;
programmatically determining an adjuster for each account in the virtual client, wherein, for each respective account, the adjuster is based on volume of the respective account in the virtual client, wherein each of the adjusters is based on a respective adjuster discount rate, and wherein the adjuster discount rates vary with the market value of the respective accounts in the virtual client; and
programmatically calculating a fee for each respective account based on the product volume fee for the respective account, the group discount, and the adjuster for the respective account; and
storing the calculated fees in a memory of the computer system. - View Dependent Claims (29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52)
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53. A memory medium comprising program instructions for assessing investment management fees to accounts, wherein the accounts are maintained in an investment management system, wherein the accounts are held by a plurality of participants in a virtual client, wherein each of the participants has at least one account, wherein each account is assigned to a respective one of a plurality of product categories;
- wherein the program instructions are executable by a computer to implement;
for each of the plurality of product categories, calculating a product volume fee for each account using a computer;
determining a group discount for the virtual client, wherein the group discount is based on market value in all accounts for the plurality of product categories in the virtual client, wherein the group discount is based on a single group discount rate, and wherein the group discount rate is applied to each of the respective accounts in the virtual client;
determining an adjuster for each account in the virtual client, wherein, for each respective account, the adjuster is based on market value of the respective account in the virtual client, wherein each of the adjusters is based on a respective adjuster discount rate, and wherein the adjuster discount rates vary with the market value of the respective accounts in the virtual client;
calculating a fee for each respective account based on the product volume fee for the respective account, the group discount, and the adjuster for the respective account; and
storing the fee for each respective account in a memory.
- wherein the program instructions are executable by a computer to implement;
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54. A method for assessing discounted investment management fees to a plurality of accounts, wherein the accounts are held by a plurality of participants in a virtual client, wherein each of the participants has at least one account, and wherein the method for assessing discounted investment management fees comprises:
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determining a first discount for each account, using a computer wherein each account is assigned to a respective product category of a plurality of product categories, wherein the first discount increases with an increasing market value of all accounts assigned to the respective product category in the virtual client;
determining a second discount for each account, wherein the second discount increases with an increasing market value of all accounts for the plurality of product categories in the virtual client;
determining a third discount for each account, wherein the third discount increases with an increasing market value of the respective account in the virtual client;
determining a total discount for each respective account, wherein the total discount comprises the first discount, the second discount, and the third discount for the respective account;
determining an investment management fee for each respective account by subtracting the total discount for the respective account from a total market value of one or more products purchased in the respective account; and
collecting the investment management fees from the plurality of participants on a periodic basis using the computer system.
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Specification