Viability Coaching Plan Generation Using Dynamic Simulation
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Solution Overview
Problem
Current financial consulting systems lack the ability to accurately simulate positive financial outcomes and track changes in clients' financial and non-financial well-being over time, leading to a gap between client needs and advisors' understanding.
Innovation Solution
An apparatus and method for generating a viability coaching plan using a processor and memory to receive user profiles, determine expansion and walkaway plans, and generate a coaching plan based on these plans, incorporating machine-learning and fuzzy inferencing systems to provide personalized financial and wellness strategies.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If static tables and assumptions are used for financial consulting, then the system is simple to operate, but the accuracy of simulating positive financial outcomes deteriorates
Solution Approach 1:
The patent implements dynamic planning by allowing users to adjust assumptions and parameters in real-time through an interactive interface. The system dynamically recalculates expansion plans, walkaway plans, and coaching plans based on user-modified inputs, transforming the static table-based approach into a dynamic simulation engine that maintains both ease of operation and improved accuracy.
Solution Approach 2:
The system enables parameter changes by allowing users to modify key financial assumptions (e.g., investment returns, expense rates, time horizons) directly in the interface. These parameter changes trigger automatic recalculation of all three plans, providing accurate simulated outcomes while maintaining user-friendly operation through familiar spreadsheet-like interactions.
2Device complexity
If traditional financial consulting methods are used, then the device complexity is low, but the ability to track changes in clients' financial and non-financial well-being over time deteriorates
Solution Approach 1:
The patent implements multi-functionality by integrating three distinct planning capabilities (expansion plan, walkaway plan, and coaching plan) into a single unified system. The same interface and calculation engine serve multiple purposes: simulating financial outcomes, tracking well-being changes over time, and providing actionable coaching recommendations, thereby increasing adaptability without proportionally increasing device complexity.
Solution Approach 2:
The system enables continuous tracking of client well-being by allowing users to update assumptions and re-run simulations at any point in time. The coaching plan continuously adapts based on the difference between current state and target state, providing ongoing guidance rather than one-time analysis, thus enhancing the ability to track changes over time while maintaining reasonable system complexity.
3Ease of manufacture
If static assumptions are used, then the system is easy to implement, but the understanding of client priorities lags behind clients' shift in priorities
Solution Approach 1:
The patent transforms static assumptions into dynamic, user-adjustable parameters. Clients can directly modify their priorities and assumptions in the interface, and the system immediately recalculates all plans to reflect these changes. This dynamic capability ensures the system continuously aligns with client priorities rather than lagging behind them, while maintaining ease of implementation through familiar spreadsheet interactions.
Solution Approach 2:
The system implements feedback by continuously comparing current client situations against target outcomes and providing actionable coaching recommendations. The coaching plan adapts based on feedback from updated assumptions and simulated outcomes, ensuring the system's understanding of client priorities evolves with client needs while maintaining ease of implementation through automated calculations.
Data Source
AI summary
an apparatus for generating a viability coaching plan, wherein the apparatus includes at least a processor and a memory communicatively connected to the at least a processor containing instructions configuring the at least a processor to receive a user profile from a user, determine an expansion plan as a function of the user profile, determine a walkaway plan as a function of the user profile, and generate a viability coaching plan as a function of the expansion plan and the walkaway plan.