U.S. patent application number 11/281438 was filed with the patent office on 2006-05-18 for system and method for aggregate portfolio client support.
This patent application is currently assigned to First USA Bank, NA. Invention is credited to Bernard M. Del Rey, Mark R. Sheehan, Donald J. JR. Weldon.
Application Number | 20060106703 11/281438 |
Document ID | / |
Family ID | 26936876 |
Filed Date | 2006-05-18 |
United States Patent
Application |
20060106703 |
Kind Code |
A1 |
Del Rey; Bernard M. ; et
al. |
May 18, 2006 |
System and method for aggregate portfolio client support
Abstract
As system for facilitating client and advisor communications
which may include a port to an aggregate database of a client's
holdings and profile. When servicing or analyzing a client's
financial needs, a financial advisor at a call center or other
facility may be presented with a screen displaying some or all of
the client's accounts, profile or analysis tools, collected via
Internet or other sources. Other parties, including the client, may
be offered access to the same, similar or related data and the
financial advisor's analysis via a Web browser or other
interface.
Inventors: |
Del Rey; Bernard M.;
(Chicago, IL) ; Sheehan; Mark R.; (Middletown,
DE) ; Weldon; Donald J. JR.; (West Chester,
PA) |
Correspondence
Address: |
HUNTON & WILLIAMS LLP;INTELLECTUAL PROPERTY DEPARTMENT
1900 K STREET, N.W.
SUITE 1200
WASHINGTON
DC
20006-1109
US
|
Assignee: |
First USA Bank, NA
|
Family ID: |
26936876 |
Appl. No.: |
11/281438 |
Filed: |
November 18, 2005 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
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09962217 |
Sep 26, 2001 |
|
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|
11281438 |
Nov 18, 2005 |
|
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60244914 |
Nov 2, 2000 |
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Current U.S.
Class: |
705/35 |
Current CPC
Class: |
G06Q 40/06 20130101;
G06Q 40/00 20130101; G06Q 40/02 20130101 |
Class at
Publication: |
705/035 |
International
Class: |
G06Q 40/00 20060101
G06Q040/00 |
Claims
1-20. (canceled)
21. A method for facilitating an exchange of information between at
least one client and at least one advisor, the method comprising
the steps of: accessing client data wherein the client data
comprises an associated account portfolio and a client profile;
retrieving aggregated data from an aggregate database wherein the
aggregated data is related to the associated account portfolio and
wherein the associated account portfolio comprises account data
from a plurality of accounts from a combination of independent
sources; analyzing the retrieved aggregated data in accordance with
the client profile; and communicating the analyzed retrieved
aggregated data between the at least one client and the at least
one advisor to enable the at least one client and the at least one
advisor to collaborate on the analyzed retrieved aggregated data
via an online interface over the Internet; wherein the at least one
client and the at least one advisor interact jointly with at least
each other to access and exchange information related to the
analyzed retrieved aggregated data; wherein the at least one
advisor is a human advisor.
22. The method of claim 21, wherein the at least one client and the
at least one advisor collaborate simultaneously in real time.
23. The method of claim 21, wherein the retrieved aggregated data
is further analyzed in accordance with at least one client input,
wherein the at least one client input comprises a client initiated
financial query related to the associated account portfolio.
24. The method of claim 21, further comprising the step of: sharing
at least one document related to the associated account portfolio
between the at least one client and the at least one advisor
wherein the document is viewed simultaneously.
25. The method of claim 21, further comprising the step of:
retrieving personalized client account data from a personalized
client portal wherein the account data contains information posted
by the at least one advisor.
26. The method of claim 22 wherein the plurality of accounts
comprises one or more of cash accounts, demand deposit accounts,
checking accounts, savings accounts, credit card accounts, loan
accounts, investment accounts, trust accounts, brokerage accounts,
securities accounts, real estate accounts, certificate of deposit
accounts, risk management accounts, insurance accounts, derivatives
and mortgage accounts.
27. The method of claim 21 further comprising the step of:
displaying the analyzed retrieved aggregated data based on display
specifications which comprise at least one of client defined
display specifications and default display specifications.
28. The method of claim 21 further comprising the step of:
enriching the analyzed retrieved aggregated data by graphically
displaying one or more of performance data, accuracy data, pricing
data, benchmark data and historical data associated with the
associated account portfolio.
29. The method of claim 21 wherein the step of communicating
comprises utilizing one or more of message boards, conference
capabilities, notification inboxes, alerts, announcements, real
time chats, and electronic messages.
30. The method of claim 21 wherein client profile comprises client
data retrieved from client registration with one or more external
channels.
31. A system for facilitating an exchange of information between at
least one client and at least one advisor, the system comprising:
an access module for accessing client data wherein the client data
comprises an associated account portfolio and a client profile; a
retrieving module for retrieving aggregated data from an aggregate
database wherein the aggregated data is related to the associated
account portfolio and wherein the associated account portfolio
comprises account data from a plurality of accounts from a
combination of independent sources; an analysis module for
analyzing the retrieved aggregated data in accordance with the
client profile; and a communication module for communicating the
analyzed retrieved aggregated data between the at least one client
and the at least one advisor to enable the at least one client and
the at least one advisor to collaborate on the analyzed retrieved
aggregated data via an online interface over the Internet; wherein
the at least one client and the at least one advisor interact
jointly with at least each other to access and exchange information
related to the analyzed retrieved aggregated data; wherein the at
least one advisor is a human advisor.
32. The system of claim 31, wherein the at least one client and the
at least one advisor collaborate simultaneously in real time.
33. The system of claim 31, wherein the retrieved aggregated data
is further analyzed in accordance with at least one client input,
wherein the at least one client input comprises a client initiated
financial query related to the associated account portfolio.
34. The system of claim 31, further comprising: a document sharing
module for sharing at least one document related to the associated
account portfolio between the at least one client and the at least
one advisor wherein the document is viewed simultaneously.
35. The system of claim 31, further comprising: a personalized
client portal for enabling the retrieval of personalized client
account data wherein the account data contains information posted
by the at least one advisor.
36. The system of claim 32 wherein the plurality of accounts
comprises one or more of cash accounts, demand deposit accounts,
checking accounts, savings accounts, credit card accounts, loan
accounts, investment accounts, trust accounts, brokerage accounts,
securities accounts, real estate accounts, certificate of deposit
accounts, risk management accounts, insurance accounts, derivatives
and mortgage accounts.
37. The system of claim 31 further comprising: a display for
displaying the analyzed retrieved aggregated data based on display
specifications which comprise at least one of client defined
display specifications and default display specifications.
38. The system of claim 31 wherein the analyzed retrieved
aggregated data is enriched by graphically displaying one or more
of performance data, accuracy data, pricing data, benchmark data
and historical data associated with the associated account
portfolio.
39. The system of claim 31 wherein the communication module
utilizes one or more of message boards, conference capabilities,
notification inboxes, alerts, announcements, real time chats, and
electronic messages.
40. The system of claim 31 wherein client profile comprises client
data retrieved from client registration with one or more external
channels.
Description
CROSS-REFERENCE TO RELATED APPLICATION
[0001] This application claims priority from provisional
application Ser. No. 60/244,914, filed Nov. 2, 2000, which is
incorporated by reference.
FIELD OF THE INVENTION
[0002] The invention relates to the field of customer support
services, and in particular, to providing an automated, network
tool to permit advisors at call centers and other facilities to
manage financial and other client inquiries using a portfolio
aggregator and related tools.
BACKGROUND OF THE INVENTION
[0003] In the financial services industry, the ability of an
organization to provide enhanced customer service may be a valuable
competitive advantage. Within the financial industry, certain
categories of customers tend to have a range of financial needs and
use a variety of financial vehicles to meet their needs. For
instance, comparatively higher net worth individuals may maintain a
number of cash, securities, insurance, credit and other accounts
within a financial institution or from a number of
institutions.
[0004] Financial advisors at call centers or other facilities asked
to service that type of clientele may be hampered in their ability
to service those relationships fully, because when a call or other
contact arrives the financial advisor may only be able to pull up a
single account related to that customer. More powerful support
platforms are desirable. Other problems exist.
SUMMARY OF THE INVENTION
[0005] The invention overcoming these and other problems in the art
relates in one regard to a system and method for aggregate
portfolio client support in which a client's collective account
holdings may be registered to an aggregate database. According to
the present invention, the aggregate database may be maintained and
updated for access by a financial advisor or other support
personnel to give reports, run summaries, and provide projections
and other financial advice on a portfolio basis. Other operations
may also be performed. The client themselves may be given access to
the aggregate database via a Web portal or other user interface.
The client's portfolio information may be kept current using
spiders, Web crawlers or other data feeds to the aggregate
database, or using other techniques.
BRIEF DESCRIPTION OF THE DRAWINGS
[0006] FIG. 1 is a diagram of an overall system, according to an
embodiment of the present invention.
[0007] FIG. 2 is an example of an account data aggregation module,
according to an embodiment of the present invention.
[0008] FIG. 3 is a flowchart illustrating an account establishment
process, according to an embodiment of the present invention.
[0009] FIG. 4 is an example of an account presentation module,
according to an embodiment of the present invention.
[0010] FIG. 5 is an example of a client portal, according to an
embodiment of the present invention.
[0011] FIG. 6a is a diagram of an outgoing message, according to an
embodiment of the present invention.
[0012] FIG. 6b is a diagram of an incoming message, according to an
embodiment of the present invention.
[0013] FIG. 7 is an example of an advisor desktop, according to an
embodiment of the present invention.
[0014] FIG. 8 is an example of a profile management module,
according to an embodiment of the present invention.
DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS
[0015] The present invention provides a method and system for
enhancing client-advisor relationships by providing the ability to
aggregate reporting of various client financial accounts, a vehicle
to perform advanced analysis and enriched reporting regarding
client account information, and an online platform for
communication between clients and advisors.
[0016] Account data aggregation of the present invention may
include gathering, at an account holder's request or other
authorizing event, account or other information from designated
websites and other sources using the account holder's personal
identification number ("PIN") or other form of authorization and
making that user's account information available at a single
website (or view) operated by the aggregator. For example, a user
may provide the system with information related to various
institutions (or other sources) at which the user has assets (e.g.,
accounts, stocks, personal property, non-financial assets, etc.).
The user may also provide a user name (or other identifier) and a
password (or other form of access or authorization). The system may
then scrape the identified institutions to provide the user with a
display of comprehensive aggregated data. The display may be an
interactive display where the user may analyze, view, sort, modify
and perform other operations related to the aggregated data.
Automated as well as manual collection techniques may be used by
the system to retrieve client asset information from different
sources. Manual techniques may be performed by the client and/or
the advisor on behalf of the client.
[0017] An enriched account data feature of the present invention
may enable customization of information in a way that makes the
data more easily understood and further enables users to define
their financial picture more clearly.
[0018] An online platform for communication feature of the present
invention may enhance client-advisor relationships where the
ability to aggregate reporting of client financial accounts online
and perform advanced analysis and enriched reporting around client
account information may be provided. Client-advisor communications
may be enhanced through various communication mediums, personalized
alerts and other notifications of predefined triggering events that
may be of interest to clients and/or advisors. In another example,
communication may, be established through a secure bulletin board
(or other message environment). This feature enables advisors to
view past and/or related correspondences to gain a comprehensive
understanding of the client's situation and nature of the
inquiry.
[0019] FIG. 1 is a diagram of an overall system, according to an
embodiment of the present invention. One or more clients, as shown
by client.sub.1-client.sub.N, may access aggregate client support
tool 120 through Internet 114 or other mode of communication.
Similarly, one or more advisors, as shown by
advisor.sub.1-advisor.sub.X, may access aggregate client support
tool 120.
[0020] An advisor may provide financial advice based on the
client's comprehensive financial status, which oftentimes may
include more than one account and other forms of assets (e.g.,
securities, bonds, property, etc.). The aggregation feature of the
present invention enables advisor and clients to analyze and view
relevant information for some or all accounts and assets associated
with a particular client. Thus, the present invention enables
clients and/or advisors the ability to view comprehensive financial
data associated with a particular client where the comprehensive
financial data may be customized for detailed analysis and insight.
Aggregated data may be enhanced and/or enriched by the present
invention for better understanding of a client's overall financial
situation.
[0021] Aggregate client support tool 120 of the present invention
enables further advisors and clients to effectively communicate
through a common tool. For example, an advisor and client may share
documents and other material through a document sharing feature of
the present invention. In addition, message posting, conference,
chat and other forms of communication may be available through the
communication feature of the present invention.
[0022] Further, a client may have access to a personalized client
portal where relevant information may be presented to the client,
based on a client's profile, transactions and other personalized
information. Alerts and/or other forms of notification may be
applied to various client defined triggering events.
[0023] Advisors may correspond to a particular client or send
broadcast type communications to some or all clients associated
with the advisor. Advisors may also provide research and analysis
through account queries applied to a client's aggregated account
data where aggregated account data may be examined based on various
predetermined and/or customized factors. Other account management
tools may also be available to an advisor.
[0024] Aggregate client support tool 120 may provide various
services, modules, functions, and access to information. For
example, aggregate client support tool 120 may include account data
aggregation module 122, client portal 124, advisor desktop 126,
profile management module 128 and other module 130. In addition,
access to information may be available through aggregated
account/position database 132, document repository database 134,
profile database 136 and other database 138. Aggregated
account/position data may be stored and gathered by various
methods, such as automated techniques 140 (e.g. web crawlers, web
spiders, etc.) or manual techniques 142. Other methods may be used.
Information may be stored in a single database or separate
databases. Other variations may be implemented.
[0025] According to an embodiment of the present invention,
aggregate client support tool 120 may enable advisors or other
authorized entities to access profile database 136 to service
clients. In particular, a client may not be required to subscribe
or register with the services of the present invention for one or
more authorized advisors to access and aggregate client data.
Profile data may be supplied by customer data gathered from other
channels where the customer may be registered. Other sources may
also provide client data. According to this embodiment, advisors
may service clients without a client request for services or other
direct client contact. This embodiment may enable advisors to
proactively service clients based on profile data submitted or
otherwise gathered through another channel or other source.
[0026] According to an operation of the invention, a financial or
other client may access a call center, initiate an Internet
telephony session, transmit email via the Internet or other
network, engage in online messaging or other contact with a service
facility to inquire about account and other information. If using
the Internet or other network, the client may, for instance, enter
via a Secure Socket Layer ("SSL") or other secure mechanism. In an
embodiment of the present invention, the client may be
authenticated using a PIN, a password, biometric or other
information.
[0027] An advisor receiving and servicing the contact may operate
an advisor workstation, for instance, to retrieve and be presented
with information from the aggregate and other database(s). The
advisor workstation may be or include, for instance, a personal
computer running the Microsoft Windows.TM. 95, 98, Millenium.TM.,
NT.TM., or 2000, Windows.TM.CE.TM., PalmOS.TM., Unix, Linux,
Solaris.TM., OS/2.TM. BeOS.TM., MacOS.TM. or other operating system
or platform.
[0028] The presentation to the advisor may include, for instance,
tables, menus, screens or other graphics to display account
balances, net worth information, account holdings by asset, sub
asset or class, account maintenance information or other defined
sets or subsets of account information.
[0029] The invention in one regard relates to a system and method
for aggregate portfolio client support in which one or more of a
client's holdings and/or other identified information may be
collected for analysis, presentation and service. The types of
accounts or holdings which may be registered and stored in the
aggregate database may be or include, for instance, cash accounts,
demand deposit accounts, checking accounts, savings accounts (e.g.,
money market, certificate of deposit, etc.), credit card accounts,
loan accounts, investments accounts (IRA, mutual funds, etc.),
brokerage or other securities accounts, mortgage accounts and
others. In addition, non-financial assets as well as real estate,
personal property (e.g., artwork, antiques, jewelry, etc.) and
other items of worth may be collected. Ownership (e.g., full or
partial ownership) in a company, future interests and other
intangibles may be included. Other information may also be gathered
by the present invention.
[0030] According to an embodiment of the present invention, an
aggregate database may, include or interface to, for example, the
Oracle.TM. relational database sold commercially by Oracle Corp.
Other databases, such as Informix.TM., DB2 (Database 2), Sybase or
other data storage or query formats, platforms or resources such as
OLAP (On Line Analytical Processing), SQL (Standard Query
Language), a storage area network (SAN), Microsoft Access.TM. or
others may also be used, incorporated or accessed in the invention.
The aggregate database may be housed locally or remotely, for
instance, in a secure, scalable facility. For security and
reliability, redundancy may be employed in the aggregate
database.
[0031] The present invention may include a hosted data repository
and various applications to provide a client with a consolidated
view of the client's entire financial portfolio. Financial as well
as other types of information may be aggregated according to the
present invention. The present invention provides an enriched
account data platform where account and other information may be
customized and presented to the client so that the client may view
and analyze a comprehensive depiction of the client's entire
financial situation.
[0032] A client may include an individual with various accounts
and/or financial items. A client may also include an entity, such
as a business, corporation or other entity with various accounts
and financial items.
[0033] Upon subscription with an account aggregation system of the
present invention, a client's accounts may be entered into an
aggregate database for maintenance, access, analysis, presentation
and other operations. FIG. 2 illustrates an account data
aggregation module 122, which may provide various features, such as
data collection module 210, data types aggregated module 212,
historical data module 214, data enrichment module 216, account
establishment module 218, account presentation module 220 and other
modules and features, as shown by 222.
[0034] Account data aggregation module 122 may collect client
information, manage the collected information and prepare the
collected information for presentation to the client and/or other
authorized entity.
[0035] Data may be collected through various techniques via Data
Collection Module 210. For example, data collection may include
collecting client information by "scraping" client data from
previously established online accounts and converting the images
into data. For example, the account information may be entered into
the aggregate database using automated techniques such as Web
spiders or Web crawlers configured to locate and enter various
financial services Internet sites and transmit updated account
information to an aggregate database.
[0036] The present invention further enables the client to manually
enter account information. For example, the account information may
be entered using manual techniques by a financial advisor, account
manager or other authorized entity on a periodic, ad hoc or other
basis.
[0037] Data collected may be updated automatically or manually. For
example, client information may be updated automatically at
periodic intervals. A user (e.g., client) may also request an
update of specific account information at any time through an
update button, for example, for an individual account. In another
example, manual account information may be updated by an associated
client.
[0038] Account data aggregation module 122 may aggregate various
types of accounts, as illustrated by Data Types Aggregated Module
212. Through Data Types Aggregated Module 212, a client (or other
user) may identify accounts to be aggregated by account type. For
example, accounts that may be aggregated by the present invention
may include various combinations of checking, savings (e.g., money
market, certificate of deposit, savings, etc.), investment accounts
(e.g., brokerage, IRA, mutual funds, etc.), loan accounts, credit
card accounts, merchant accounts and other account types. Account
data aggregation module 122 may collect various information
associated with the aggregated account types, such as summary
balances, detailed positions (e.g., units, price, value, etc.),
recent transaction history and/or other information.
[0039] According to another embodiment of the present invention,
predefined account structures may be provided for certain account
types, such as banking, investment, credit and others. Other
account types may be manually entered thereby allowing any type of
asset, liability or account to be entered and aggregated by the
present invention. For example, some account types may need or
require detailed description, units and values, for example. These
account types may be manually entered. Also, position detail types
may be entered and access. Position detail types may include
equities, bonds, mutual funds, cash, personal property, credit and
other assets.
[0040] The aggregation feature of the present invention may further
capture and maintain historical client transaction and other data
through Historical Data Module 214. Historical data may include
past transactions associated with aggregated accounts or individual
accounts, for example. Past performance history may also be
available for securities and other earnings events. Other
historical may also be displayed to the client for analysis and
interpretation, based on various user defined factors. Historical
data associated with selected aggregated accounts (and/or other
data) may be displayed to the client for analysis of performance,
accuracy and/or other metrics.
[0041] Data enrichment may also be available through the
aggregation feature of the present invention at 216. Aggregated
data, derived from a client's accounts and/or other sources of
client financial data, may be customized based on user defined
factors to enable a client to assess comprehensive financial status
and other information. Graphical displays and other various formats
may be used to display aggregated data to clients and other
authorized users for analysis and understanding. Other information
of interest to a client may be determined and displayed to the
client through the present invention.
[0042] Data enrichment may also provide supplemental information
associated with a client's accounts and other sources of financial
data. For example, the present invention may enrich exchange listed
securities in a client's account with additional market information
to provide the client with better knowledge of the client's
accounts. In another example, data enrichment may provide intra-day
pricing on applicable or selected exchanged listed securities. In
addition, positive gains and negative losses may be color coded
(e.g., green for gains, red for losses). Other indicators may be
displayed.
[0043] Thus, fundamental information about each exchange listed
security may be provided through Data Enrichment Module 216. For
example, a calendar of financial events for one or more exchanged
listed security that may be of interest to the client may be
displayed. Financial data of interest to a particular client may be
determined by whether the data is part of the client's portfolio. A
client may also specify (or select) financial data of interest.
General financial data of importance may be displayed to a group of
applicable clients. Other methods of determining enhanced or
supplemental data may be utilized.
[0044] In another example, asset classifications may be defined for
consistent treatment of securities across multiple accounts. In
addition, each financial institution may provide its own security
master for consistent asset classification. A securities table with
sub assets and securities may be provided on a periodic or other
basis, such as every quarter. Other forms of data enrichment may be
implemented.
[0045] Account Establishment Module 218 may enable each client (or
user) the ability to establish the client (or user) and associated
accounts for the aggregation feature of the present invention. FIG.
3 is a flowchart for illustrating a process for establishing
accounts for aggregation, according to an embodiment of the present
invention. At step 310, a client may identify one or more accounts
and/or other sources of data to be aggregated through the present
invention. Identification information may include account number,
the identity of the establishment holding the account (e.g., bank
name, etc.), security information, investment information and other
identifying data. At step 312, the client may provide access
information, such as a PIN number or other information that may be
used to access the client's account and/or other data. In addition,
the client may be prompted to provide other personal and/or account
information. At step 314, the system of the present invention may
retrieve account data for each identified account via the client's
access information for the identified account. Other information
may also be retrieved through the present invention. At step 316,
the present invention may aggregate the data associated with the
identified accounts. At step 318, the aggregated data may be
displayed to the client according to various client defined
specifics. The aggregated data may be further enhanced in
accordance with the present invention. At step 320, the client may
access, interact, view and perform other operations to the
aggregated data.
[0046] FIG. 4 illustrates the various modules of an account
presentation feature of aggregated data, according to an embodiment
of the present invention. Account presentation may provide user
interface and navigation options through aggregated and other data.
Account presentation module 220 may provide various displays, such
as account summary display 410, market snapshot display 420,
charting display 440, calendar display 450 and other displays, as
shown by 460. Display options may include client defined display
specifications and default display specifications, for example.
[0047] Account summary display 410 may present a client's
aggregated accounts with various account information and
characteristics, such as subtotals by account types, total net
worth and other factors. Account summary information may be
displayed in various formats and views, which may include an
account type view 412, a positions view 414, and an asset type view
416. Other views 418 may also be available.
[0048] The present invention may aggregate various types of
accounts. For example, account types may include banking,
investment, credit and other account types. Account type view 412
may include various information, such as one or more of account
name, financial institution from which account data is collected,
account description, manual/electronic flag, balance/value
information, last updated date/time stamp, view transaction
information, update data and other information.
[0049] For example, manual/electronic flag may include a symbol or
other identifier indicating to the user whether accounts are
aggregated accounts or manually entered accounts. Other types of
accounts and combinations may be symbolized or otherwise
flagged.
[0050] Balance/Value information may represent the balance of value
of a selected account (or source) as of the date the account
information was updated or other specified period of time. Other
information may also be available.
[0051] Last updated date/time stamp may indicate to the user when
the account (or source) was last modified or refreshed. Other
triggers may be defined and applied as well.
[0052] View transaction information may link the client to detailed
transactional history of one or more selected accounts (and/or
other sources). The present invention may provide the account
history and other information that may be available from a
financial institution (or other source). The client may manually
input the transaction if so desired.
[0053] Update data enables the client to update the account data.
For electronic accounts, a connection may be opened to the source
of account information where the account information may be
refreshed with current or new information available from a source
institution or other source. For manual accounts, an account
maintenance window may be opened to allow the user to modify the
account level data. Other operations and views may be
available.
[0054] For example, accounts that may be entered manually and do
not have an asset that may be automatically priced (e.g., exchange
listed security), may be displayed with the date the information
was entered in the system of the present invention. In another
example, accounts entered manually that have an exchange-listed
security associated with them that can be priced, may be displayed
with the latest price upon an action or event (e.g., page
refresh).
[0055] Also manual accounts that may contain positions with As-Of
prices from different dates may contain a flag (or indicator) at
the account summary level indicating an occurrence (e.g., that an
inconsistency in overall account value may exist). The flag (or
indicator) may indicate to the user that an account position view
may be accessed to provide detailed information for further
examination. Other information may be displayed and other
triggering events may be identified.
[0056] The user may access an account position view to analyze
detailed data regarding the user's accounts and/or other sources of
financial and other data. Positions view 414 may provide detailed
positions of a selected one or more accounts (and/or sources).
Positions information may include one or more of asset name,
identifier (e.g., stock symbol, CUSIP, etc.), asset description,
number of units, as of date price (e.g., latest closing price
retrieved), as of date timestamp, as of date value (e.g., number of
units multiplied by as of date price), current price (e.g., intra
day price), current price timestamp, asset price direction (which
may be measured from close of previous day or other time frame),
price change (which may be measured from close of previous day or
other time frame), current value (e.g., number of units multiplied
by current price) and other information.
[0057] Asset type view 416 may enable a user to view the user's
portfolio by asset type. Other viewing criteria may be specified.
The asset type may include one or more of equities, bonds, mutual
funds, cash, personal property, credit and other assets. The asset
type view may display for each asset or group of assets one or more
of asset description, account description, units, price, value and
other information.
[0058] Asset description may include one or more of stock symbol,
fund symbol, CUSIP, property location, and other information,
attributes and characteristics. For example, each stock symbol
(e.g., exchange listed security) may provide one or more of the
security's fundamental information, a financial calendar for that
company, positions held by that client in that security, the
client's transaction history with that security, any notes or
alerts that the client may have defined regarding the security and
other information.
[0059] Value information may include the current market price of
the asset. If the asset value is available through intra day
pricing, then the value of the asset may be the number of units
(from the last date the account information was updated) multiplied
by the price. Other calculations may be implemented as well.
[0060] In addition, clients may add, modify, delete one or more
accounts through account summary display 410, for example. Other
operations may also be performed. The client may also edit manual
accounts through the account summary display. Manual accounts may
also be added, modified and deleted. Restrictions may be applied as
well. For example, a client may not be permitted to edit
information that may be collected by aggregators.
[0061] A graphical representation of a client's accounts and
related information may be displayed in various forms, e.g., pie
charts, graphs, charts, etc. For example, one view may present high
level asset allocation across account types. Another view may
provide a detailed asset allocation view that may utilize a
security master lookup to classify the asset type. Other operations
may also be available.
[0062] Market snapshot display 420 may provide clients (or other
users) with an overview of the entire market performance as well as
customized portfolio information. For example, market snapshot 412
may provide various customizable functionalities, such as price
quotes 422, market indices 424, performance data 426, graphical
display 428, customizable portfolio watch list 430 and other
information 432.
[0063] Price quotes, which may be delayed by a predetermined period
of time, may be displayed for a security or groups of securities. A
client may enter ticker symbols or perform a ticker symbol lookup.
Price (or stock) quotes 422 may provide the exchange listed
security's fundamental information, a financial calendar for that
company, positions held by that client in that security, the
client's transaction history with that security, as well as any
notes or alerts that thee client may have set for that security.
Other information may also be displayed.
[0064] Current major market indices 424 may include Dow Jones,
NASDAQ, S&P 500, NASDAQ 100 and other sources. For example, the
present invention may aggregate a client's stock portfolio where
the price of shares may be contemporary and currently updated to
reflect the most recent price (or other form of valuation).
[0065] Performance data 426 may include a best and/or worst
performers section where equities present in an individual's
portfolio may be analyzed to summarize the top performers in each
category. Various criteria and/or factors for performance analysis
may also be indicated, such as accuracy, reputation, profitability,
etc.
[0066] Graphical display 428 may provide pictorial summary of
indices of user defined performance metrics, such as best and/or
worst performers. When an index or security in the best/worst list
is highlighted (or otherwise selected), the graph may display
related price history and other historical data. Various time
periods may also be defined or selected for comparison and
analysis.
[0067] A customizable portfolio watchlist may default to the
securities in a client's aggregated account. In addition, the
client may modify the securities in a watchlist by adding,
deleting, and modifying other securities, events and triggers.
Watchlist 430 may display various types of data, including one or
more of color coded stock symbols, current price data, dollar
change, percent change, alert and notes indicators and other
information. Various watchlist options may include the ability to
set price alerts for an individual entry in the portfolio
watchlist, the ability to write notes containing personal
information regarding an individual security and other capabilities
and options.
[0068] For example, a stock symbol may display a predetermined
color or symbol (e.g., green) if the asset has increased in value
for a time period (e.g., a day), or a different color or symbol
(e.g., red) if the asset value has decreased in value for the time
period, (e.g., that day). The stock symbol may also provide a link
to information, which may include security's fundamentals, the
financial calendar for that company, positions held by that client
in that security, transaction history, applicable notes and alerts
and other information.
[0069] Charting display 440 enables a client to graphically view a
security's pricing history and/or historical information, such as
accuracy and performance metrics. A client may select to view a
single security or user-defined group of securities or other stock
sets, at 442. Viewing options may be selected at 444. Viewing
options may include time periods, frequency, indicators, moving day
average, calculations, and other factors and events. Other
historical data may be displayed graphically over various time
periods, which may be defined by the user. Other charting
capabilities may be invoked at 446.
[0070] Calendar display 450 may enable a client (or other user) to
view upcoming financial and other events according to various
factors (e.g., date, time, frequency, etc.) based on the assets in
the user's portfolio, selected group of market securities or all
market securities. For example, a user may view an events calendar
for a defined set of securities, such securities in the user's
watchlist, a specific security, a selected group of securities, or
all securities.
[0071] The calendar may provide event information at 452 which may
include one or more of company name, company symbol (or other
identifier), event date, event time, event description, link to
event details and other information. The link to event details may
connect the client to the event via the Internet and/or to the
event's associated website. Also, the link may provide more
detailed information about the event, contact and other
information. Display options may be available, at 454. For example,
events occurring on the current day (or other time period) may be
highlighted to the user (e.g., displayed in particular manner or
color).
[0072] Another embodiment of the present invention may provide
enhanced client-advisor relationships by creating an environment
for communication between a client and an advisor. Financial
resources and various forms of data may be customized and accessed
by users of the present invention. An advisor may access
information related to a client's comprehensive financial situation
through the aggregation feature of the present invention. For
clients with more than one account, a comprehensive picture of the
client's aggregated accounts may provide insightful information to
the client's advisors. The present invention enables an advisor (or
other authorized entity) the ability to view a selected client's
aggregated information in varying levels of detail in different
forms and formats for analysis and interpretation. The present
invention further provides a communication and resource medium
between a client and the client's one or more advisors.
[0073] The integrated support and information platform of the
invention may provide multiple benefits and services. For example,
account summary tools may enable the client and advisor to share
access to a common client financial profile and other client
information. This information may come from aggregation and manual
input (for assets not "aggregatable") as well as other sources. The
data may be granular down to sub-asset class levels.
[0074] Communication services may include services designed to
increase client/advisor dialogue including 1 to 1 email, broadcast
email (general and targeted), chat, live web events and customized
reminders/alerts. A web portal or other access site may include
comprehensive advisor contact information including chat
availability, email, phone and mail information.
[0075] According to another embodiment of the present invention, a
bulletin board (or other type of message panel) may be used to
provide communication between (or among) advisors and clients. For
example, a bulletin board may include a secure environment with
various security features to enable users to post (or send)
confidential information through the present invention. The
bulletin board format may also allow advisors to view past
correspondences through a discussion thread to enable advisors to
understand the context of a question (or other inquiry) by a
client. For example, an advisor may view the last several message
leading up to the question for a comprehensive understanding of the
client's situation.
[0076] In addition, the bulletin board (or other message panel)
feature of the present invention may be integrated and routed to
compliance entities to provide comprehensive advice based on
privileged and/or confidential information. For example, the
compliance entities may access the entire interchange, the relevant
portions of the interchange, or a specific correspondence between
advisor and client without having to actually contact either the
advisor or client.
[0077] The present invention may also provide proprietary content
to supplement traditional portal information and may be further
customized to a client's needs and/or interests. Traditional
content may include news, sport, weather, calendar, quotes, and
market news. Proprietary content may include advisor research,
equity selections, economic reviews, and content tailored and
targeted to specific client needs (created and published by
individual advisors) and/or interests.
[0078] Various resources may also be provided through the present
invention, which may include an online version of the initial
client questionnaire (that may be used to populate a financial
profile and feed a financial plan) and a secure mailbox for the
two-way distribution of forms and documents.
[0079] FIG. 5 is an example of a client portal, according to an
embodiment of the present invention. Various viewing,
correspondence and resource options may be available to a client
through modules of the client portal, which may include one or more
of correspondence module 510, alerts/reminders module 522, document
repository access module 524, document sharing module 526,
portfolio presentation module 528, account/position maintenance
module 530, web events module 532, email integration module 534,
calendar integration module 536, new/quotes/media module 538 and
other modules and functions.
[0080] Correspondence module 510 may provide various types of
communication options, such as advisor profile information 512,
message board 514, conference/chat capabilities 516, notification
inbox 518, announcements 520 and other communication options and
functions. In addition, the correspondence module may further
provide the ability to channel information to a segment of a
business (such as the legal staff, compliance entity, etc.) for
review and further correspondence.
[0081] Advisor profile information 512 may include personal and/or
contact information for one or more advisors associated with a
client. Other information may include relevant experience,
associated accounts, a picture of an advisor and other information.
Message board 514 enables a client and an advisor to correspond and
share information by posting messages and other forms of
information. A notification or other type of alert may inform the
recipient when a new message is posted on the message board or
other form of correspondence is established.
[0082] Conference/chat 516 may enable a client and an advisor to
correspond in real time through a chat option, such as an instant
messaging tool. According to an embodiment of the present
invention, a client and an advisor may link to a video conference
channel, for instance using RealVideo.TM. or other format, to
effect a video conference during a consultation. In the operation
of the invention, the client may access a web site, advisor page or
other portals may be configured with network enabled code, which
for instance may include or interface to, for example, Hyper text
Markup Language (HTML), Dynamic HTML, Extensible Markup Language
(XML), Extensible Stylesheet Language (XSL), Document Style
Semantics and Specification Language (DSSSL), Cascading Style
Sheets (CSS), Synchronized Multimedia Integration Language (SMIL),
Wireless Mark-up Language (WML), Java.TM., Jini.TM., C, C++, Perl,
UNIX Shell, Visual Basic or Visual Basic Script, Virtual Reality
Markup Language (VRML), ColdFusion.TM., Common Gateway Interface
(CGI) or other compilers, assemblers, interpreters or other
computer languages or platforms.
[0083] A notification inbox 518 may provide a list of new or unread
messages when the client accesses a client portal of the present
invention. Other options may be available. For example, a user may
attach a file to a message or reply. An indication of high
importance or priority may also be displayed for a message or other
notification. Users may download attachments from a message with an
attachment. Also, users may specify in their respective profiles if
the user wishes to receive all notifications, only priority
notifications, only compliance officer rejection notifications
and/or other user-defined types of notifications and/or messages.
The notification inbox may serve as a repository for advisor
notifications and other notifications.
[0084] Announcements 520 may enable a content manager (or other
authorized entity) the ability to create informative announcements
to be viewed by advisors and clients. A client directed content may
appear on the client portal as well as an associated advisor's
desktop. However, an advisor announcement may appear only on the
advisor's desktop. Other restrictions may apply and other forms of
correspondence between two entities may be implemented in
accordance with the present invention. Various correspondence
options may be available. For example, an advisor may have the
ability to send a message to some or all clients in the advisor's
domain.
[0085] According to an embodiment of the present invention, a
compliance officer (or other entity) may review messages (e.g.,
message board posts, notifications, etc.) that an advisor sends (or
otherwise makes available) before sending the message to the
client. This feature of the present invention may be an option that
may be selectable by a user. The compliance officer may approve,
reject or hold the messages. If the message is rejected, an alert
(or notification) may be sent to the originating advisor. Outgoing
correspondences from the advisor may default to the compliance
officer for review, unless otherwise indicated. When a compliance
officer rejects a message it may be placed in a repository for the
advisor to review. The compliance officer may include an
explanation stating why the post was rejected. Incoming messages
from clients to advisors may be copied to the compliance officer.
According to another embodiment of the present invention, advisor
client communications may be archived according to standard
regulatory requirements and may be made retrievable.
[0086] FIG. 6a illustrates an example of an outgoing message from
an advisor to a client, according to an embodiment of the present
invention. Advisor 610 may send a message intended for client 620
to compliance officer 630 for approval, via 614. Upon review and
approval, compliance officer 630 may forward the message to client
620, via 632. However, upon review, compliance officer 630 may
reject the message and send the rejected message to a repository
for rejected messages at 640, via 634. Advisor 610 may be notified
of the rejection (e.g., an alert or other notification) and may
then view the rejected message at 640, via 642. Additional
information (e.g., explanation) may be available as well. In
addition, advisor 610 may bypass compliance officer 630 and send
the message to client 620, via 612.
[0087] FIG. 6b illustrates an example of an incoming message from a
client to an advisor, according to an embodiment of the present
invention. Client 620 may send a message to advisor 610, via 622. A
copy of the message may also be made available to compliance
officer 630, via 624. Thus, the compliance officer may view or
otherwise access messages and/or other correspondences. The message
may be stored and archived in accordance with regulations or other
requirements. This enables incoming messages to be retrievable.
[0088] Alerts/Reminders module 522 may be used to notify clients
and advisors of an occurrence of a particular event, which may be
user defined. For example, advisors and clients may be notified
that a new message has been posted on the message board. Also, an
advisor may be notified that a client has changed profile
information or made other modifications, additions, and/or
deletions. In another example, an advisor may be notified that a
compliance officer has rejected a post. Other triggering events may
be defined by an advisor, client or other user of the present
invention.
[0089] In addition, users may specify one or more modes of
notification, which may include email, instant messaging, fax,
wireless communication, pager, PDA, phone, cell phone or other
forms of communication. Further, user's may specify particular
modes of communication to certain alerts. For example, an advisor
may designate notification via cell phone for certain events that
an advisor may deem of particular importance. In the same example,
other events may be notified by email.
[0090] Various links and other information may also be provided.
For example, a client or advisor may click on a message
notification link and be taken to the message (e.g., email,
announcement, etc.) that elicited the notification. In another
example, advisors may click on a compliance officer alert link and
be taken to the message that was rejected by the compliance
officer. In yet example, profile alerts may be for informational
purposes only and may not be assigned an associated link. Other
restrictions may be applied. Other variations and implementations
may be used.
[0091] Document Repository Access module 524 may provide access to
a collection of forms and documents for clients to access and
download. The availability of documents and forms to the client on
the client portal may be determined by an advisor or other
authorized entity. Forms may include applications for various new
accounts and/or other services and products.
[0092] The client and advisor may access a document sharing module
526 to share and/or exchange documents, spreadsheets, databases or
other information on a live or offline basis. For example, an
advisor may compose a document for a client's approval and enable
the client to view and edit this document through the document
sharing facility. The client may access the client portal and view
the document through the document sharing facility. Upon review,
the client may provide comments and modifications which may then be
viewed by the advisor upon accessing the system. An accept or
reject revisions feature may also be available to clients and/or
advisors. For example, when viewing a document or other data,
modifications made by a client may be highlighted in a certain
manner (e.g., color, text, font, etc.) while modifications by a
different entity (e.g., an advisor) may be displayed in a different
manner.
[0093] In an embodiment of the present invention, the client may be
provided with simultaneous access to an aggregate database and
related information, for instance via a web page or other
interface, so that the client and advisor may discuss or message
concerning different account details and scenarios in real time.
The client may use a workstation, network appliance,
browser-equipped cellular telephone, or other wired or wireless
access device. The client and advisor may use embedded links or
other navigation tools to search, retrieve, model and perform other
operations with respect to the client's information in the
aggregate database.
[0094] Portfolio presentation module 528 may enable various types
of aggregated account views. Views may include account balances
view, net worth view, holdings by asset/subasset/sub asset class,
account maintenance view and other views.
[0095] Account/position maintenance module 530 may provide the
capability to add external accounts and to modify positions.
[0096] Web events module 532 may provide exclusive video
productions for clients, which may also include personalized video
productions which may be based on user profile and other user
information.
[0097] Email integration module 534, calendar integration module
536, news/quotes/media module 538 and other functions may be
integrated into the Web or other portal or interface presented to
the client. The present invention may provide media content,
resources and other information that may contain content relevant
to wealth management and/or other areas of interest to the client.
Features may include streaming video window, slide window and
related document windows. Subject matter experts may deliver
content relevant to one or more clients. Other information may
include research, news, company information, product offers/news,
alerts, service messages, etc.
[0098] Other options may include enabling a client to setup and
manage bill payment service, through an embodiment of the present
invention. For example, a client may be advised of a cost efficient
manner for handling debts and making payments.
[0099] FIG. 7 is an example of an advisor desktop, according to an
embodiment of the present invention. Various managing, viewing,
correspondence and resource options may be available to an advisor
through modules of the advisor desktop, which may include one or
more of account queries module 710, client notification/updates
module 712, client notification review/release module 714,
account/position maintenance module 716, document repository access
module 718, document sharing module 720, account management tools
module 722, and other modules and functions.
[0100] In an embodiment of the present invention, the advisor may
be presented with predetermined query sets to run against the
client's aggregate portfolio, for instance "what if" or tax
analyzers. Account queries module 710 may enable an advisor to
query one or more databases to retrieve information regarding a
particular client or groups of clients. For example, an advisor may
use the account queries module to locate clients who own over a
particular number of shares of a particular stock. Databases may
include various information, such as data related to accounts,
position, and profile.
[0101] According to an embodiment of the present invention, a
predetermined set of queries may be applied in analyzing client
data across aggregated account data, profile information and/or
other data. The predetermined set of queries may be provided by the
present invention thereby enabling advisors (or other authorized
entities) the ability to select a query for application to one or
more databases and/or other sources of information. Also, user
defined queries may also be applied to gain specific insight and
information regarding a specific inquiry and/or issue. Advisors may
also have the ability to send a post (or other message) to all the
results of the query or to a selected subset. Other variations may
be implemented. In addition, navigation tools of the present
invention may enable users to select an individual client and be
taken to the message board of that client for personalized message
or other form of correspondence.
[0102] According to an embodiment of the present invention, an
advisor may query a client's aggregated financial data. For
example, a client may desire to finance a family trip around the
world or build an addition to the client's family home. The client
may want to know the most efficient (e.g., cost effective) way to
finance the trip or purchase. The advisor may analyze the client's
aggregated financial data and determine whether the client should
use funds from the clients 401K or borrow from one or more credit
cards associated with the client, for example. By viewing and
interpreting the client's comprehensive financial status, the
advisor may provide a series of cost effective options to the
client.
[0103] Client notification/updates module 712 may display inquiries
from individual clients. For example, the advisor may be presented
with a screen element representing an inbox communications channel,
representing notifications and inquiries from clients received
through various media.
[0104] Client Notification Review/Release Module 714 may allow a
compliance entity to review some or all notifications.
[0105] Account/Position Maintenance Module 716 may provide the
capability to add external accounts and to modify positions on
behalf of a client.
[0106] Document Repository Access module 718 may contain a
collection of forms and documents for clients and other entities to
access and download. Document repository access module may store
applications for various accounts, informative documents and
others. For example, the advisor may access the document
repository, e.g., for new account applications, to transmit to the
client via email, fax, postal mail or other delivery channels.
[0107] The client and advisor may use a document sharing module 720
to share or exchange documents, spreadsheets, databases or other
information on a live or offline basis.
[0108] Account management tools 722 may enable advisors to search,
sort and display various client related information. Other
operations and analysis may be performed as well. The search
feature may enable the advisor to efficiently find a specific
client from a list of all clients maintained by the advisor. The
client sort feature may enable an advisor to narrow the field of
clients shown on a client display based on a set of selected sort
options. Sort options may be based on client segmentation schemes
derived from the client profile or other source. The client display
option may enable the advisor to select a client from the client
list to view or manage data correlating to that client. Once the
advisor (or other authorized entity) selects a client, the client's
account information may populate the framed area of the portal
where information, such as the client's name or other identifier,
may be highlighted.
[0109] The advisor may be presented with various account management
tools, such as tools to add, modify, delete or perform other
operations to maintain the collection of accounts for that client,
from external sources or from within the organization of the
advisor. Security tools, such as tools to manage passwords, access
privileges and other account variables, may also be presented to
the advisor. Other modifications and operations may be accomplished
through various account management tools and options.
[0110] FIG. 8 is an example of a profile management module,
according to an embodiment of the present invention. Clients and
advisors may have the ability to update profile information to
reflect current conditions, recent developments and/or changes. For
example, clients and advisors may have the ability to specify how
they wish to be communicated with when a specified triggering event
occurs (e.g., when a new message has been posted).
[0111] Various client profile options may include client/advisor
managed profile module 810, online interview dialogue module 812,
client feedback/survey module 814, alerts/notifications module 816
and other functions and options 818.
[0112] Client/advisor managed profile 810 may enable clients and
advisors to maintain individual profiles indicating various
information, such as account holding information, name, age,
address, other personal information, media preferences and related
information, activity or Web site history information and/or other
information. A client interface may also include payment fields to
permit payment of bills, additions to or exchanges between
investments, and execution of other transactions online or
offline.
[0113] Online interview dialogue module 812 may enable messaging,
Internet telephony sessions with an entity (e.g., a customer
service center) and other immediate communication options. This
feature may enable live collaborative efforts.
[0114] A survey capability may be included to obtain market
research from individual clients or groups of clients through
module 814. Likewise, the advisor may be provided with
configuration tools to set up broadcasts of selected or
personalized information to clients having specific interests, such
as stock holdings in various industries. Notification may be real
time or offline and via different media, such as wireless telephone
or pager messaging, email, or other channels or techniques.
[0115] Alerts/Notifications module 816 may enable clients and
advisors to identify triggering events, methods of notification and
other information. Client notifications or other updates may be
programmed for individual clients, or groups of clients, or other
user-defined groups.
[0116] The foregoing description of the system and method for
aggregate portfolio client support is illustrative, and variations
in configuration and implementation will occur to persons skilled
in the art. For instance, while various resources such as
processing or database modules have been described as separate or
discrete, in given implementations those resources could be
combined or contained in single databases or other resources. Other
resources described as singular could be distributed. Similarly,
while the invention has generally been described in terms of
financial data retrieval, other types of data and client
relationships may be supported according to the invention. The
scope of the invention is accordingly intended to be limited only
by the following claims.
* * * * *