Financial assessment systems and methods

• US 8,112,332 B1
• Filed: 12/30/2005
• Issued: 02/07/2012
• Est. Priority Date: 12/30/2005
• Status: Active Grant

• Current Assignee: USAA (United Services Automobile Association)
• Original Assignee: United Services Automobile Association
• Inventors: Garcia, Rennie
• Primary Examiner(s): Hamilton, Lalita
• Application Number:
  US11/323,472
• Time in Patent Office: 2,230 Days
• Field of Search: 705/35, 705/36.R
• US Class Current: 705/35
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

Financial assessment systems, methods and graphical user interfaces are described. Financial information for an individual is received and integrated in a financial plan. A synopsis view of the financial plan is graphically presented. The synopsis view of the financial plan may include one or more financial recommendations for the individual. The recommendations and the synopsis view may be updated in real-time in response to a change in the financial information. The recommendations and the synopsis view may be used by the individual who is the subject of the financial plan or may be used by financial advisors. Other embodiments may be described and claimed.

Claims

1. A computerized method of facilitating financial counseling, the method comprising:

obtaining financial data pertaining to an individual;

obtaining business rules for analyzing the financial data, wherein at least two of the business rules each relate to a corresponding set of potential financial recommendations;

generating, by analyzing the financial data using the business rules and using a processor of a computer, a financial assessment including two or more financial recommendations, wherein at least two of the financial recommendations include a value indicating priority for the individual and information on financial well-being of the individual;

graphically representing, using the processor, the information on the financial well-being of the individual as a synopsis view graphical display on an electronic device;

graphically indicating, using the processor, in the synopsis view graphical display one or more of the financial recommendations using a graphical component corresponding to at least one of the financial recommendations for the individual on the electronic device, wherein the synopsis view includes one or more highlighted components indicating that one or more of the financial recommendations represented by the component has been assigned a value indicating high priority and that the individual should act on the recommendations included in the highlighted sections;

receiving an input towards acting on one of the recommendations included in one of the highlighted sections;

generating, using the processor, an updated financial assessment based on the financial data, the business rules, and the received input towards acting on one of the recommendations included in one of the highlighted sections; and

updating at least one of the recommendations indicated in the synopsis view graphical display in response to the updated financial assessment.

2. The computerized method of claim 1 wherein the one or more recommendations are indicated by changing an appearance of an item in the synopsis view graphical display.

3. The computerized method of claim 1 wherein the one or more recommendations are indicated by changing a position of an item in the synopsis view graphical display.

4. The computerized method of claim 1 wherein the one or more recommendations are indicated by animating an item in the synopsis view graphical display.

5. The computerized method of claim 1 wherein updating at least one of the recommendations is performed after a life event.

6. The computerized method of claim 1 wherein updating at least one of the recommendations is performed after a predefined period of time.

7. The computerized method of claim 1 wherein updating at least one of the recommendations is performed upon a change in data used for determining the financial well-being of the individual.

8. The computerized method of claim 1, wherein graphically indicating, using an electronic device, includes presenting the synopsis view graphical display free of numerical values of the individual'"'"'s financial status.

9. A non-transitory machine-readable medium comprising instructions, which when executed by a computer, cause the computer to perform the following operations:

obtaining financial data pertaining to an individual;

obtaining business rules for analyzing the financial data, wherein at least two of the business rules each relate to a corresponding set of potential financial recommendations;

generating, by analyzing the financial data using the business rules, a financial assessment including two or more financial recommendations, wherein at least two of the financial recommendations include a value indicating priority for the individual and information on financial well-being of the individual;

graphically representing the information on the financial well-being of the individual as a synopsis view graphical display;

graphically indicating in the synopsis view graphical display one or more of the financial recommendations using a graphical component corresponding to at least one of the financial recommendations for the individual, wherein the synopsis view includes one or more highlighted components indicating that one or more of the financial recommendations represented by the component has been assigned a value indicating high priority and that the individual should act on the recommendations included in the highlighted sections;

receiving an input towards acting on one of the recommendations included in one of the highlighted sections;

generating an updated financial assessment based on the financial data, the business rules, and the received input towards acting on one of the recommendations included in one of the highlighted sections; and

updating at least one of the recommendations indicated in the synopsis view graphical display in response to the updated financial assessment.

10. The machine-readable medium of claim 9 wherein the one or more recommendations are indicated by changing an appearance of an item in the synopsis view graphical display.

11. The machine-readable medium of claim 9 wherein the one or more recommendations are indicated by changing a position of an item in the synopsis view graphical display.

12. The machine-readable medium of claim 9 wherein the one or more recommendations are indicated by animating an item in the synopsis view graphical display.

13. The machine-readable medium of claim 9 wherein updating at least one of the recommendations is performed after a life event.

14. The machine-readable medium of claim 9 wherein updating at least one of the recommendations is performed after a predefined period of time.

15. The machine-readable medium of claim 9 wherein updating at least one of the recommendations is performed upon a change in data used for determining the financial well-being of the individual.

16. A computerized system for facilitating financial counseling, the system having subsystems comprising:

a processor; and

a memory disposed in communication with the processor and storing processor-executable instructions, the instructions comprising instructions for;

obtaining financial data pertaining to an individual;

obtaining business rules for analyzing the financial data, wherein at least two of the business rules each relate to a corresponding set of potential financial recommendations;

generating, by analyzing the financial data using the business rules, a financial assessment including two or more financial recommendations, wherein at least two of the financial recommendations include a value indicating priority for the individual and information on financial well-being of the individual;

graphically representing the information on the financial well-being of the individual as a synopsis view graphical display,

graphically indicating in the synopsis view graphical display one or more of the financial recommendations using a graphical component corresponding to at least one of the financial recommendations for the individual, wherein the synopsis view includes one or more highlighted components indicating that one or more of the financial recommendations represented by the component had been assigned a value indicating high priority and that the individual should act on the recommendations included in the highlighted sections,

receiving an input towards acting on one of the recommendations included in one of the highlighted sections;

generating an updated financial assessment based on the financial data, the business rules, and the received input towards acting on one of the recommendations included in one of the highlighted sections; and

updating at least one of the recommendations indicated in the synopsis view graphical display in response to the updated financial assessment.

17. The computerized system of claim 16 wherein the one or more recommendations are indicated by changing an appearance of an item in the synopsis view graphical display.

18. The computerized system of claim 16 wherein the one or more recommendations are indicated by changing a position of an item in the synopsis view graphical display.

19. The computerized system of claim 16 wherein the one or more recommendations are indicated by animating an item in the synopsis view graphical display.

20. The computerized system of claim 16 wherein updating at least one of the recommendations is performed after a life event.

21. The computerized system of claim 16 wherein updating at least one of the recommendations is performed after a predefined period of time.

22. The computerized system of claim 16 wherein updating at least one of the recommendations is performed upon a change in data used for determining the financial well-being of the individual.