Automated coaching for a financial modeling and counseling system

• US 7,783,545 B2
• Filed: 10/12/2001
• Issued: 08/24/2010
• Est. Priority Date: 11/01/1999
• Status: Expired due to Fees

• Current Assignee: Accenture Global Services Limited (Accenture PLC)
• Original Assignee: Accenture Global Services GmbH (Accenture PLC)
• Inventors: Sloan, Ronald E., Slutsky, Stephen B.
• Primary Examiner(s): Nguyen; Nga B.
• Application Number:
  US09/976,443
• Publication Number:
  US 20030144936A1
• Time in Patent Office: 3,238 Days
• Field of Search: 705/35, 705/36, 705/37, 705/36.R
• US Class Current: 705/36.00R
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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

The present invention relates to an automated coaching system for financial modeling and counseling system. The automated coaching system enables the user to analyze the user'"'"'s investment portfolio and dispense context sensitive automated advice to the user based on the user inputted financial data, preferences and financial goals. The automated coaching provides its advice to the user in syntactically correct natural language coaching strings and is able to configure and recommend solutions and financial products, specific to the user'"'"'s situation. Furthermore, the automated coaching system can analyses the impact of the recommended product on the user'"'"'s financial model.

Claims

1. A computer-readable storage medium having computer-executable instructions to perform a method for providing automated coaching for a financial modeling and counseling system over a network to a user-investor, the method comprising:

inputting personal financial data of the user-investor;

inputting user preferences, the user preferences including risk tolerance;

inputting user financial goals;

inputting external financial market data;

processing the personal financial data, the external financial market data, the user preferences, and the user financial goals using automated rules-based coaching algorithms; and

outputting to the user-investor in a natural language format;

(a) automated coaching provided by an automated rules-based analysis, wherein the coaching includes financial advice based on the personal financial data, preferences, and financial goals of the user-investor;

(b) a proposed product configuration formulated to comply with the user preferences and the user financial goals, wherein the proposed product configuration includes recommended securities for the user-investor to purchase from a larger set of securities;

(c) a projection of an effect of the proposed product configuration on attaining the user financial goals through statistics presented with contextual language;

(d) a rationalization of the proposed product configuration compared with the user preferences and financial goals parameters via textual coaching strings;

(e) an explanation of risk potential based on the proposed product configuration and user risk tolerance parameters; and

(f) a suggestion of securities to be added to the user-investor'"'"'s portfolio to reduce risk vulnerability and allow the user to refine the proposed product configuration for conformance with the user-investor'"'"'s risk tolerance.

2. The computer-readable storage medium claim 1, wherein part of the personal financial data includes an aggregate cash flow model, an investment target value, a target date for achieving financial user financial goals, or an investment portfolio.

3. The computer-readable storage medium claim 1, wherein the external financial market data includes values of various market benchmark indices, performance history of various securities, or prices of various securities.

4. The computer-readable storage medium claim 1, wherein the automated coaching advice in natural language format is an interpretation of numerical data.

5. The computer-readable storage medium claim 1, wherein the user preferences include a risk tolerance, an investment style, or a market attitudes.

6. The computer-readable storage medium claim 1, wherein the user goals include retirement, purchasing a house, purchasing a car, going on vacation, or paying for college.

7. The computer-readable storage medium claim 1, wherein the automated coaching advice provides live coaching over the network.

8. A system for providing automated coaching for a financial modeling and counseling system over a network to a user-investor, comprising:

a database for receiving personal financial data of the user-investor;

a database for receiving user preferences, the user preferences including risk tolerance;

a database for receiving user goals;

a database for receiving external financial market data;

a processing unit for processing the personal financial data, the external financial market data, the user preferences, and the user financial goals using automated rules-based coaching algorithms; and

a user interface for outputting to the user-investor in a natural language format;

(a) automated coaching provided by an automated rules-based analysis, wherein the coaching includes financial advice based on the personal financial data, preferences, and financial goals of the user-investor;

(b) a proposed product configuration formulated to comply with the user preferences and the user financial goals, wherein the proposed product configuration includes recommended securities for the user-investor to purchase from a larger set of securities;

(c) a projection of an effect of the proposed product configuration on attaining the user financial goals through statistics presented with contextual language;

(d) a rationalization of the proposed product configuration compared with the user preferences and financial goals parameters via textual coaching strings;

(e) an explanation of risk potential based on the proposed product configuration and user risk tolerance parameters; and

(f) a suggestion of securities to be added to the user-investor'"'"'s portfolio to reduce risk vulnerability and allow the user to refine the proposed product configuration for conformance with the user-investor'"'"'s risk tolerance.

9. The system of claim 8 wherein the personal financial data includes an aggregate cash flow model, an investment target value, a target date for achieving financial user financial goals, or an investment portfolio.

10. The system of claim 8 wherein the external financial market data includes values of various market benchmark indices, performance history of various securities, or prices of various securities.

11. The system of claim 8 wherein the automated coaching advice in natural language format is an interpretation of numerical data.

12. The system of claim 8 further including a user interface for providing live coaching over the network.

13. A computer-readable storage medium encoded with a computer program for providing automated coaching for a financial modeling and counseling system over a network to a user-investor, the computer program comprising:

a code segment for inputting personal financial data of the user-investor;

a code segment for inputting user preferences, the user preferences including risk tolerance;

a code segment for inputting user goals;

a code segment for inputting external financial market data;

a code segment for processing the personal financial data, the external financial market data, the user preferences, and the user financial goals using automated rules-based coaching algorithms; and

a code segment for outputting to the user-investor in a natural language format;

(a) automated coaching provided by an automated rules-based analysis, wherein the coaching includes financial advice based on the personal financial data, preferences, and financial goals of the user-investor;

(b) a proposed product configuration formulated to comply with the user preferences and the user financial goals, wherein the proposed product configuration includes recommended securities for the user-investor to purchase from a larger set of securities;

(c) a projection of an effect of the proposed product configuration on attaining the user financial goals through statistics presented with contextual language;

(d) a rationalization of the proposed product configuration compared with the user preferences and financial goals parameters via textual coaching strings;

(e) an explanation of risk potential based on the proposed product configuration and user risk tolerance parameters; and

(f) a suggestion of securities to be added to the user-investor'"'"'s portfolio to reduce risk vulnerability and allow the user to refine the proposed product configuration for conformance with the user-investor'"'"'s risk tolerance.

14. The computer-readable storage medium of claim 13, wherein said personal financial data includes an aggregate cash flow model, an investment target value, a target date for achieving financial user financial goals, or an investment portfolio.

15. The computer-readable storage medium of claim 13, wherein the external financial market data includes values of various market benchmark indices, performance history of various securities, or prices of various securities.

16. The computer-readable storage medium of claim 13, wherein the automated coaching advice in natural language format is an interpretation of numerical data.

17. The computer-readable storage medium of claim 13, further comprising a user interface for providing live coaching over the network.