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Title: US5911136: System for prioritized operation of a personal financial account comprising liabilities and investment assets
[ Derwent Title ]

Country: US United States of America

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32 pages

Inventor: Atkins, Charles Agee; Amelia Island, FL

Assignee: Proprietary Financial Products, Inc., Charleston, SC
other patents from PROPRIETARY FINANCIAL PRODUCTS, INC. (456545) (approx. 8)
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Published / Filed: 1999-06-08 / 1997-03-26

Application Number: US1997000827111

IPC Code: Advanced: G06Q 20/10; G06Q 40/00;
IPC-7: G06F 17/60;

ECLA Code: G07F11/00B; G06Q20/10; G06Q40/00; G06Q40/02; G06Q40/025; G06Q40/04; G06Q40/06;

U.S. Class: Current: 705/036.R; 705/035; 705/037; 705/038;
Original: 705/036; 705/035; 705/037; 705/038;

Field of Search: 705/035,36,38,37

Priority Number:
1997-03-26  US1997000827111
1991-08-27  US1991000750790
1991-04-16  US1991000686319
1989-09-15  US1989000408173
1987-04-15  US1987000038817

Abstract:     A personal financial management program is for implementing, coordinating, supervising, analyzing and reporting upon investments in an array of asset accounts and credit facilities within a client account. Through a mathematical programming function the client specifies his financial objectives, his risk preference, forecast of economic and financial variables, and budgetary constraints. The mathematical programming function suggests to the client a portfolio of investment and credit facilities to best realize his financial objectives over a defined time horizon. In the preferred embodiment the central structural element of the financial account is a mortgage secured by the client's home and one or more asset accounts. Client funds that would normally be used to amortize the mortgage may be alternatively used to increase the value of a designated asset account. The client account is imbalanced if the client's borrowing power is less than the minimum borrowing power specified by the financial institution. If the account is imbalanced, the client may reallocate the distribution of assets and liabilities within the client account and/or modify a set of constraints on the client account. If the client account is still not balanced after modification of the account, the system initiates a liquidation procedure.

Attorney, Agent or Firm: Pennie & Edmonds LLP ;

Primary / Asst. Examiners: Voeltz, Emanuel Todd; Hughet, William N.

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Related Applications:
Application Number Filed Patent Pub. Date  Title
US1991000750790 1991-08-27       
US1991000686319 1991-04-16       
US1989000408173 1989-09-15       
US1987000038817 1987-04-15    1990-08-28  System for the operation of a financial account

Parent Case:     This is a continuation of application Ser. No. 07/750,790, filed Aug. 27, 1991, now abandoned, which is a continuation of application Ser. No. 07/686,319 filed Apr. 16, 1991, which is a continuation of application Ser. No. 07/408,173 filed Sep. 15, 1989, now abandoned, which is a continuation of application Ser. No. 07/038,817 filed Apr. 15, 1987, which issued as U.S. Pat. No. 4,953,085.

Designated Country: AU EP 

Family: Show 17 known family members

First Claim:
Show all 46 claims
I claim:     1. A computer-based system for operating at least one client financial account comprising:
  • processing means;
  • memory means connected to said processing means for storing information pertaining to the financial account(s);
  • means for storing in a database in said memory means information concerning each financial account, each financial account including at least one investment asset account which receives funds for investment purposes, said asset account having an account balance which is updated by the computer system upon receipt of said funds, and at least one liability account including a loan;
  • means for determining a customized set of priorities for a preferred allocation of received funds to said investment asset account(s) and said liability account(s)
  • means for allocating said received funds to pay interest on the loan and allocating the remaining portion of said funds to the accounts of the client financial account according to said preferred allocation of said funds; and
  • updating the preferred allocation in accordance with changes to financial and economic variables.

Background / Summary: Show background / summary

Drawing Descriptions: Show drawing descriptions

Description: Show description

Forward References: Show 286 U.S. patent(s) that reference this one

U.S. References: Go to Result Set: All U.S. references   |  Forward references (286)   |   Backward references (3)   |   Citation Link

Patent  Pub.Date  Inventor Assignee   Title
Get PDF - 14pp US4597046  1986-06 Musmanno et al.  Merrill Lynch, Pierce Fenner & Smith Securities brokerage-cash management system obviating float costs by anticipatory liquidation of short term assets
Get PDF - 34pp US4953085  1990-08 Atkins  Proprietary Financial Products, Inc. System for the operation of a financial account
Get PDF - 80pp US5644727  1997-07 Atkins  Proprietary Financial Products, Inc. System for the operation and management of one or more financial accounts through the use of a digital communication and computation system for exchange, investment and borrowing
Foreign References: None

Other Abstract Info: DERABS G1988-307664

Other References:
  • "Analysis Extension", Execucom Systems Corporation, 1986.
  • Fayette Hickox, "Learning About Artificial Intelligence", Institutional Investor, pp. 209-210, Jul. 1986.
  • Clive Wolman, "Well Endowed? Don't Believe it", The Financial Times, Jun. 29, 1985.
  • "Funds Allocation System: Software Update", IBM, 1985.

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