Patent ID: 7440919
Filing Date: 2008-10-21
Classification: G06Q,G09B

Abstract:
1. A computer implemented method for a financial planning competition, the method comprising the steps of: during a first phase of competition, electronically generating, by a financial planning organization, a client profile, wherein the client profile includes at least one of: client name, marital status, date of birth, a social security number, state of residence, citizenship, health status, number of dependent children, employment, relationship information, background information, financial goal information, and asset information; electronically providing the client profile to a plurality of teams; electronically receiving a written financial plan which includes personal information relating to a client, a goal summary, an analysis of client financial planning subject area, and recommendations from each of said plurality of teams, wherein the financial plan achieves a predetermined client goal based upon the client profile; electronically reviewing, by a third party judge, each financial plan based on awareness of industry standards, use of industry standards, correct mathematical computations, correct law information, correct law tables, and regulatory guidelines followed and at least one of: personal assets, cash assets, fixed assets, equity assets, retirement assets, liabilities, life insurance policies, income, income taxes, retirement plan contributions, savings contributions, discretionary expenses and committed expenses predetermined financial electronically assigning award points to each plan based on awareness of industry standards, use of industry standards, correct mathematical computations, correct law information, correct law tables, and regulatory guidelines followed, and at least one of: personal assets, cash assets, fixed assets, equity assets, retirement assets, liabilities, life insurance policies, income, income taxes, retirement plan contributions, savings contributions, discretionary expenses, and committed expenses; and electronically selecting a subset of the plurality of teams to participate in a second phase of competition based on the award points.