Portfolio reconciler module for providing financial planning and advice
The present invention provides systems and methods for facilitating financial advising and planning for a user using a portfolio reconciler module. In accordance with an exemplary embodiment of the present invention, the system includes a portfolio integration module for facilitating integration of a user's goals, assets, savings, and risk tolerance to facilitate analyzing and developing a customized strategy for financial portfolio planning of the user. A portfolio reconciler module in communication with the portfolio integration module facilitates comparison of the customized strategy to other strategies and projected user financial decisions in order to further facilitate the financial portfolio planning of the user. A stochastic modeling module in communication with the portfolio integration module and the portfolio reconciler module for facilitating use of data from the portfolio integration module and the portfolio reconciler module in a stochastic modeling analysis using a synchronous stationary bootstrap sampling method to facilitate creation of a proposed situation portfolio for the user. A simulator module in communication with the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module for facilitating forecasting the effects of the proposed situation portfolio on the user's portfolio, and monitoring, simulating, designing, and testing the portfolio integration module, the portfolio reconciler module, and the stochastic modeling module.
1 . A system for facilitating financial advising and planning, comprising:
a portfolio reconciler module for facilitating using a customized strategy for financial portfolio planning of a user to compare the customized strategy to at least one of other strategies and projected user financial decisions, wherein the portfolio reconciler module monitors at least one of buy, sell, and hold recommendations for the proposed situation portfolio and dynamically updates the proposed situation portfolio with the at least one of buy, sell, and hold recommendations, in order to facilitate the financial portfolio planning of the user and creation of a proposed situation portfolio for the user.
2 . The system of claim 1 , wherein the portfolio reconciler module monitors at least one of buy, sell, and hold recommendations at the asset class level and dynamically updates the proposed situation portfolio with the at least one of buy, sell, and hold recommendations at the asset class level.
3 . The system of claim 2 , wherein the portfolio reconciler module monitors the effect of at least one of maintaining and modifying asset classes on the proposed situation portfolio.
4 . The system of claim 2 , wherein the portfolio reconciler module monitors the effect of at least one of maintaining and modifying asset classes on the proposed situation portfolio in order to facilitate minimization of fees associated with such assets.
5 . The system of claim 1 , wherein the portfolio reconciler module monitors the user's risk tolerance based on at least one of buy, sell, and hold recommendations for the proposed situation portfolio.
6 . The system of claim 1 , wherein the portfolio reconciler module monitors the risk associated with assets within the proposed situation portfolio in order to facilitate diversification of assets based on at least one of buy, sell, and hold recommendations for the proposed situation portfolio.
7 . The system of claim 1 , wherein the portfolio reconciler module compares a current situation portfolio of the user to a customized proposed situation portfolio of the user to facilitate incorporating at least one of specific buy, sell, and hold recommendations in the current situation portfolio in order to create the customized proposed situation portfolio.
8 . The system of claim 1 , wherein the portfolio reconciler module is configured to facilitate use of at least one of buy recommendations, sell recommendations, hold recommendations, tax considerations, insurance information, and asset class information to facilitate creation of the proposed situation portfolio for the user.
9 . The system of claim 8 , wherein use of at least one of buy recommendations, sell recommendations, hold recommendations, tax considerations, insurance information, and asset class information is via at least one of a static database, linking to an application, the Internet, an intranet, an extranet, a wide area network, a local area network, wireless communications, and satellite communications.
10 . The system of claim 1 , further comprising at least one of a portfolio integration module, a stochastic modeling module, and a simulator module in communication with the portfolio reconciler module in order to further facilitate the financial portfolio planning of the user and creation of a proposed situation portfolio for the user.
11 . The system of claim 1 , wherein creation of the proposed situation portfolio includes analysis of a normal life span, disability, long-term care, early death, life insurance information, disability insurance information, Social Security, social pension, asset structure, savings, goals, retirement information, expenses, tax structure of assets, savings, company pension information, and other factors affecting the user's financial or personal situation.
12 . The system of claim 11 , wherein creation of the proposed situation portfolio further includes at least one of:
customized timelines for at least one of normal life span, disability, long-term care, early death, life insurance information, disability insurance information, Social Security, social pension, asset structure, savings, goals, retirement information, expenses, tax structure of assets, savings, company pension information, and other factors affecting the user's financial or personal situation;
customized timelines for each member of a family; and
analysis of life expectancy on factors other than retirement information.
13 . A method for facilitating financial advising and planning, comprising the steps of:
facilitating using a customized strategy for financial portfolio planning of a user; and
comparing the customized strategy to at least one of other strategies and projected user financial decisions in order to facilitate the financial portfolio planning of the user and creation of a proposed situation portfolio for the user.
14 . A system for facilitating financial advising and planning, comprising:
a host system including a processor for processing data associated with a user;
a memory in communication with the processor for storing the data;
an input digitizer in communication with the memory and the processor for inputting the data into the memory; and
an application program stored in the memory and accessible by the processor for directing processing of the data by the processor, wherein the application program is configured to facilitate the steps of:
facilitating using a customized strategy for financial portfolio planning of a user; and
comparing the customized strategy to at least one of other strategies and projected user financial decisions in order to facilitate the financial portfolio planning of the user and creation of a proposed situation portfolio for the user.
15 . A computer implemented method for facilitating financial advising and planning, comprising the steps of:
obtaining data in connection with a user via a communication channel in communication with a computer system having a memory and a processor;
storing the data in the memory and configuring, via said processor, the data to facilitate using a customized strategy for financial portfolio planning of a user; and
comparing, via said processor, the customized strategy to at least one of other strategies and projected financial decisions in order to further facilitate the financial portfolio planning of the user and creation of a proposed situation portfolio for the user.
16 . A system for facilitating financial advising and planning, comprising:
a host server for accepting and processing data in connection with a user;
a database in communication with the host server for collecting data on the user and using a portfolio reconciler module to facilitate using a customized strategy for financial portfolio planning of a user and comparing the customized strategy to at least one of other strategies and projected user financial decisions in order to facilitate the financial portfolio planning of the user and creation of a proposed situation portfolio for the user.
17 . A system for facilitating financial advising and planning, comprising:
a browser for submitting data to a web server, wherein the browser and the web server communicate via a communication channel and the data submitted to the web server includes information in connection with the user; p 1 a portfolio reconciler module associated with the web server for comparing the customized strategy to at least one of other strategies and projected financial decisions in order to facilitate the financial portfolio planning of a user and creation of a proposed situation portfolio for the user.