TW200300535A - Method and apparatus for creating investment advice marketplace and for providing investment advice to multiple investors - Google Patents

Abstract

A method for creating an electronic marketplace of investment advice for consumers, each of which are engaged in electronic portfolio trading of market tradable assets/liabilities enables advisors to each create a model portfolio of market tradable assets/liabilities and then disseminate the model portfolios to potential consumers. These model portfolios created by the advisors are disseminated as preset portfolios that can be purchased singly or in combination with each other by one or more consumers, a result of which can then be electronically traded as an entire portfolio of market tradable assets/liabilities by the one or more consumers. Along with each model portfolios a fee associated with each of the model portfolios is displayed. This fee is that which must be paid to the advisor that created the model portfolio upon selecting to purchase the model portfolio singly or in combination with one or more other model portfolios. Any fee associated with a particular model portfolio purchased by a consumer is deducted from funds allocated to the purchased portfolio and then forwarded to the respective advisor. The above method uses a computer-based portfolio manager system that enables a user to create and manage a portfolio of investments. Users can create multiple sub-portfolios, termed folios, within their overall investment portfolio. Each of these folios can be created by the user or selected from multiple preset folios. One of the possible preset folios includes a manager's recommended folio. This folio is regularly updated, thereby indicating buy and sell recommendations of the manager.

Description

200300535 A7 B7 V. Description of the invention (1) Related applications This application proposes the scope of patent application for the benefit of the priority of u.S. provisional patent application 60/3 32,35 1 and its title is "for investment Suggested Methods and Devices for Most Investors ", published in 2001,11,15. This application also proposes the scope of patent application for the benefit of the priority of U.S. Provisional Patent Application 60 / 332,34, entitled "Methods and Devices for Producing Investment Proposal Markets", published on 2001,11,15. The present invention is related to US patent application number 09 / 038,1 58, published on 1 998, 3, 1 1 and entitled "To enable a small number of investors or others to generate and manage securities or Methods and devices for portfolios of assets or liabilities ". The present invention is also related to US Patent Application No. 09/1 39,020, published on 1 998,8,24, and entitled "To enable a minority of investors or others to generate and manage securities or other assets on a cost-effective basis. Methods and devices for portfolios of assets or liabilities ". The present invention is also related to U.S. Patent Application No. 09 / 339,299, published on 1999, 6, 24, and entitled "Investment Methods and Systems for Joint Securities Selected Based on Individual Preferences of Plural Investors Aggregated". The inventors of the present invention published each of these applications. U.S. Patent Application Nos. 09/03 8, 1 5 8, 09/1 39,020, and 009/3 39,299 are each fully repeated and incorporated herein by reference, including the drawings. BACKGROUND OF THE INVENTION The present invention relates to methods and systems to assist investment. In particular, the present invention relates to a computer network using a computer-based system to produce the paper size common Ningguo National Standard (CNS) A4 specification (210X 297 mm) -------- install- -(Please read the precautions on the back before filling this page} Order printed by the Intellectual Property Bureau's Consumer Cooperatives of the Ministry of Economic Affairs-6-200300535 A7 B7 V. Description of the Invention (2), Management 'and user's investment can be specified Methods and systems for investment portfolios to help invest. (Please read the notes on the back before filling out this page) The above-mentioned related applications are disclosed, in particular, to enable investors, regardless of the majority and minority, to generate, manage, and Examples of systems, methods, and devices of investment portfolios in investments. In specific embodiments, each investor is provided with the ability to select and purchase various investment vehicles as part of their investment portfolio. In other aspects, to provide investments The ability of a person to select a portfolio of securities based on their risk / reward characteristics related to the market, the specific investment type they wish to invest in, and other criteria. This provides even very novice investment An easy way for investors to choose from a diversified portfolio of securities or other investments. Although many investors would like to choose from a large number of securities available today, some people are overwhelmed by so many options. These investors are When choosing securities for a portfolio, I would rather be assisted. Without such help, these investors would not choose to invest in a portfolio of directly held investments, but would still invest in mutual funds, because such funds provide Professional management, although compared with the direct holding of securities investments detailed in the above related patent applications, these funds have many disadvantageous conditions. 0 The Intellectual Property Bureau of the Ministry of Economic Affairs, the employee consumer cooperatives, and some types of automated investment consultants exist, such as Financial Engine, Direct Advice, Clear Future, etc. But these advisors generally only guide investors to individual stocks in mutual funds or non-diversified portfolios, not direct holdings of investment portfolios. Therefore, these are only for the selection of mutual funds Or individual stocks in a non-diversified portfolio End, so they essentially have mutual funds owned or invested in non-diversified investment paper standards applicable. National Standards (CNS) A4 specification (210X29 * 7 mm) 200300535 Employees of the Intellectual Property Bureau of the Ministry of Economy Print A7 B7 V. Invention Description (3) The same disadvantageous conditions of the investment portfolio. Moreover, these automated investment consultants cannot let people generate, manage, and directly hold the investment portfolio in the investment. The "automated" consultants of the "security portfolio" also do not provide management and portfolio institutions, and do not provide tailor-made money managers from professional portfolio managers. In addition, although investors can use professional investment managers to provide Investment Advice. However, the cost combined with such professional investment advice often prevents a small number of investors from seeking such a channel. Moreover, professional investment advisers cannot provide their advice on a cost-benefit basis because of the lack of providing this advice on an individual-to-person basis. Furthermore, the relatively small profits made by a small number of investors are generally not justified by the cost of professional input expenditures. It is therefore neither the providers of these recommendations nor the consumers of these recommendations that give them incentives to amend their actions to encourage these transactions, that is, to provide investors with investment selection recommendations that personalize their portfolios of securities. As a result, professional investment advice is usually provided to a small number of investors through specific investment vehicles, such as mutual funds, or through general information such as business newsletters or stock analyst recommendations. However, the aforementioned patent applications present significant disadvantages for investing in mutual funds or non-diversified investments. Therefore, many investors are actually very confused. They either invest in mutual funds and accept major disadvantages, or they pay the costs combined with professional investment advice, which reduces their investment profits over time due to these costs. Of course, investors can eliminate any investment advice, but there may be other adverse effects on their investment. None of these options is particularly appealing. Moreover, the provision of today's investment advice can't stand the test of such a time-consuming and difficult competition to compare the quality and cost of investment advice. This paper size applies Chinese National Standard (CNS) A4 specification (210X297 mm) (Please read the precautions on the back before filling out this page) -8-200300535 Printed by the Consumer Cooperative of Intellectual Property Bureau of the Ministry of Economic Affairs kl B7 V. Invention Explanation (4) The present invention therefore points out the problem of helping investors to personalize their portfolio investment in a cost-effective manner. Description of the invention The invention solves the problem by, in particular, generating a virtual market for investment advice, in which the provider of investment advice and the consumer of investment advice can meet and interact by helping competition and the accompanying profit of this competition. These and other issues. By urging investment advisers to provide investment advice in the form of a portfolio of model investments, the present invention enables investment advice to be a commodity presentation that can be compared with each other in terms of cost and performance. Moreover, the purchase decision made by the investor provides the required feedback to the model portfolio producer and the price it combines. According to an exemplary embodiment of the present invention, as a method for consumers of investment advice to generate an electronic marketplace for investment advice, each method of engaging in electronic portfolio trading of marketable assets / liabilities includes making most advisers available Electronically generate a model portfolio of marketable assets / liabilities, and then promote the model portfolio generated by the consultant as a pre-set portfolio that can be purchased individually or in combination with each other by one or more consumers, and then the result can be Multiple consumer electronic transactions as a complete portfolio of marketable assets / liabilities. According to this exemplary embodiment, the method includes displaying a combination of each model portfolio that must be paid to the consultant who generated the model portfolio based on the selection of a single purchase of each model portfolio or the purchase of one or more other model portfolios . This provides a competitive market where consumers can make purchasing decisions, which can stimulate price and quality competition. This paper ruler; 1 Applicable to China National Standard (CNS) A4 specification (210X 297 mm) (Please read the notes on the back before filling this page) _ 9-200300535 A7 B7 V. Description of the invention (5) (Please read first Note on the back, please fill out this page again} The exemplary embodiment of the present invention provides an integrated computer interface and communication link to the investment consultant as part of the investment manager system of a computer-based investment portfolio, so that users can use the market A pre-set model portfolio of tradable assets / liabilities is recommended by a professional investment consultant, and then invested in directly holding the investment without the attendant costs associated with such a recommendation. Computer-based systems provide this Exemplary embodiments of a capable device include a computer interface and a communications link, through which one or more investment consultants can provide a complete model portfolio of assets / liabilities that can be bought and sold in the user market, printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs It can then be modified by investors based on their own specific expectations. This allows investors to choose in advance if desired Set up a portfolio as their portfolio. By spreading the cost of recommending these portfolios to a large number of possible users, the cost of obtaining this recommendation becomes minimal. Also, by making third-party investment consultants available via a computer Suggestions without having to rack your brains to accept the human interaction, this embodiment allows investment consultants to provide investment recommendations to many investors on a continuous basis while earning a reasonable profit. Therefore, 'a single investment consultant can serve many investors There are no specific restrictions on the number of investors. Moreover, the present invention solves some of the above problems by a computer-implemented portfolio management system that enables investors to obtain investment recommendations from professional money managers in a cost-effective manner. The present invention The exemplary embodiment provides integrated computer interfaces and communication links to investment consultants as part of an investment manager system for computer-based portfolios, enabling users to use market-tradable assets / negative paper standards for China National Standards (CNs) A4 specification (21〇χ 297 mm ) -10- 200300535 Printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs A7 ___ B7 V. Pre-settable customizable model portfolio form of the invention description (6) was recommended by a professional investment consultant, and then invested in a direct holding investment There are no costs associated with such recommendations. Computer-based systems that provide this capability include an exemplary embodiment of a computer interface and a communication link that can be provided for use by one or more investment consultants A complete model portfolio of marketable assets / liabilities can be bought and sold in the market, which can then be modified by investors based on their own specific expectations. This allows investors the option to pre-set a customizable portfolio as their portfolio if desired. By spreading the cost of recommending these portfolios across a large number of possible users, the cost of obtaining this recommendation becomes minimal. And 'by enabling third-party investment consultants to provide advice via computers without having to rack their brains and accept human interaction, this embodiment allows investment consultants to provide many investors with a sustainable principle while earning fairly reasonable profits. Investment recommendation. So a single investment advisor can serve many investors without any specific limit on the number of investors. The figure briefly illustrates an exemplary embodiment of a portfolio manager according to an aspect of the present invention. B 2. ig draws an exemplary embodiment of a method according to the present invention for modifying another perspective of recommending a subordinate portfolio. Figure 3 depicts an exemplary embodiment of another method for rebalancing a modified recommended subordinate portfolio according to the present invention when a previous user correction is incorporated. Dimensions of this paper ^ χΤ9Τ ^ ¥) I-(Please read the notes on the back before filling this page) Order% -11-200300535 A7 B7 Printed by the 8th Industrial Cooperative Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs 5. Description of the invention (7 photos 4-24 and 27-52 Various embodiments of the present invention are used for various screens for interacting with the user. Figures 2 5 and 26 depict the flow of two exemplary embodiments of the present invention. Main components comparison table 1 Database 2 Computer 3 server 4 internet 5 personal computer 6 personal computer 7 personal computer 8 personal computer 9 system database 10 system 11 portfolio manager server 12 system operator specifies any "one embodiment" herein means The specific features, structures, or characteristics described in connection with the embodiments are included in at least one embodiment of the present invention. The appearances of the phrase "in one embodiment" in various places herein do not necessarily refer to the same embodiment. As used in this article, the phrase "asset / entitlement / liability" means any paper size applicable to the Chinese National Standard (CNS) A4 specification (210X 297 mm) ^ | ^ 扣 衣 ^ IT (Please read the back first Please fill in this page again if necessary. -12- 200300535 A7 B7 V. Description of the invention (8) Goods that can be bought and sold in the market or valuable items that exist in the market but are small for trading. This includes documents and non-documents. Examples of documents include securities, stocks, bonds, futures, mutual funds, derivative financial commodities' currency (domestic or foreign), commodities, insurance contracts, mortgage deeds, investment contracts, arbitrage funds, high-yield debt, external debt, convertible debt , Bills, pollution rights, development rights, leases, loans, real estate investment business credits, etc. Examples of non-documents include unlimited: airline reservations, hotel reservations, time sharing rights, number of golf tees, club members, antiques, Telecommunications bandwidth, factory productivity, real estate, consumer discount coupons, airline miles, hotel miles, consumer rewards program credits, etc. Although the computer-based system of the present invention can be used for any asset, rights, And / or liabilities' but for the sake of brevity, the discussion in this article is primarily about using Or securities, especially stocks. The phrase "asset / entitlement / liability" means any collection of assets / entitlements / liabilities. As used herein, the term "manager" means any management user other than the user. The portfolio manager of the investment. The manager may be a professional, professional asset manager employed by a property management company or system owner, or may be an amateur, such as a manager who does not charge a fee. The manager may manage the investment Portfolios to maximize their return on investment, or to obtain other objectives, such as portfolios of securities issued by companies that provide managers with conjectures for further social goals (eg, environmental organizations may manage portfolios of securities issued by environmentally friendly companies) . The manager may be active, such as a manager who is directly involved in the creation of the investment portfolio and regularly or continuously revised, or passive, such as only providing and regularly or continuously revising the investment form to the public, and then this form is systematically scaled by this paper Applicable f 顚 家 县 (CNS) M specifications () (Please read the precautions on the back before filling this page) Order

-P Printed by the Intellectual Property Bureau's Consumer Cooperatives of the Ministry of Economic Affairs-13- 200300535 A7 B7 V. Invention Description (9) The owner converted the investment portfolio into an investment, and the manager did not have any direct participation. (Please read the notes on the back first (Fill in this page again.) The embodiments of the present invention include a computer interface and communication links to most investment consultants integrated with a computer-based portfolio management system. Through this system, investors can provide a majority of competing investments in a competitive model investment portfolio. Select among consultants and purchase investment recommendations of professional investment consultants that have been packaged into a model funded investment portfolio in the form of commodities. The computer-based system provides a vehicle-free device for this purpose. The examples include a computer interface and a communication link. Through this one or more investment consultants, a complete investment in the market can be bought and sold assets / liabilities. The combination recommendation is printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs and can then be modified by investors based on their own specific expectations. This allows investors to choose a pre-set portfolio as their .Portfolio if desired. By spreading the cost of recommending these portfolios across a large number of possible users, the cost of obtaining this advice is minimal for each investor. Moreover, by enabling third-party investment consultants to provide advice via computers without having to rack their brains to accept human interaction, this embodiment enables investment consultants to provide many investors with a continuous principle while earning fairly reasonable profits. Investment recommendation. Therefore, a single investment advisor can serve many investors without any specific restrictions on the number of investors. Other embodiments allow the investment consultant to re-balance the investment portfolio of approved investors by allowing the consultant and, if the investor wants, to automatically rebalance the investment portfolio of the approved subscription, and to update their investment recommendations to provide lively investment recommendations to approved subscriptions. Investors. For those investors who customize these model portfolios, various embodiments allow investors to store this tailored correction and if the paper size is to apply the Chinese National Standard (CNS) Λ4 specification (210X 297 mm)- 14- 200300535 A7 _ B7 V. Description of Invention (1〇) (Please read the notes on the back before filling out this page) If necessary, 'these tailored corrections will be implemented automatically in the rebalanced model portfolio. Such examples include the elimination of certain investments (such as tobacco stocks) and the replacement of other investments (such as other stocks) so that the system can automatically replace these investments in future updated model portfolios. The embodiments of the present invention provide integrated computer interfaces and communication links to investment consultants to become part of a computer-based portfolio investment manager system, so that users do not need to generally obtain the accompanying costs of such recommendations Recommended by professional investment consultants, and as far as users are concerned, they can still invest in personal investment portfolios with users on directly held investments. Exemplary embodiments of a device based on a computer-based system that provides this capability include a computer interface and a communication link, through which one or more investment consultants can provide a complete investment group of user-tradable assets / corruption in the user market, recommended together Printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs, which can then be modified by investors based on their own specific expectations. This allows investors to choose a pre-set portfolio as their portfolio if desired. By spreading the cost of recommending these portfolios across a large number of possible users, the cost of obtaining this advice is minimal for each investor. Moreover, by enabling third-party investment consultants to provide advice via computers without having to rack their brains to accept human interaction, this embodiment enables investment consultants to provide many investors with a continuous principle while earning fairly reasonable profits. Investment recommendation. Therefore, a single investment advisor can serve many investors without any specific restrictions on the number of investors. The patent applications mentioned in the related application section of this document describe in detail the computer-based investment portfolio system to which the present invention is applied. These patents and drawings are incorporated herein by reference in their entirety. This paper size is applicable to China National Standard (CNS) A4 specification (210X297 mm) -15- 200300535 ΑΊ B7 V. Description of the invention (11) System overview (please read the precautions on the back before filling this page) Using a computer The portfolio-based system allows investors to generate, manage, and trade a diversified portfolio of investments that can be generated from thousands of publicly traded securities. By choosing a personal investment portfolio instead of a single investment, investors can use the recommended investment by investing in a wide range of investments instead of investing in a few selected investments, which can be better adjusted on average over a long period of time. Modern portfolio theory of risk reward. The present invention provides this functionality to even a few people by allowing them to cost-effectively diversify their investments across many assets / rights / liabilities, which would otherwise make such diverse investments impractical. The user interface for choosing an investment is printed by the Intellectual Property and Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs because each user can have multiple subordinate portfolios (ie, a group of assets / rights / liabilities) in the portfolio in which he invests. Therefore, the term "folio" will be used to refer to subordinate portfolios that can form an investor's portfolio. Using the present invention, the user can select an "subordinate portfolio" of an investment from several available. Users can then invest a lot of money directly in this subordinate portfolio. Each subordinate portfolio can be included in assets / rights / liabilities, but as mentioned above, for the sake of brevity, the discussion in this article will only refer to documents or securities, such as stocks. In order to help the user select an investment from a large number of publicly traded documents, the present invention provides a user interface that helps the user provide input to the system, and then this input is used to select the document as the user's investment portfolio. This paper size applies to China National Standard (CNS) A4 specifications (210 X297). Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs 200300535 A7 B7 V. Invention Description (12) In some embodiments, investors are provided according to their Relevant market risk / reward characteristics, specific investment types they wish to invest in, and other criteria's ability to select a portfolio of securities. These criteria are then used to select documents that meet the user's investment goals by using standard risk / reward analysis and investment recommendation techniques. Portfolio Design As discussed in the background section, some users prefer to invest in a portfolio selected and / or maintained by others, including professional investment consultants and / or asset managers. These investment portfolios have three aspects of certain investor preferences. First, these portfolios include investments chosen by professionals who have experience in selecting investments. Second, these recommended portfolios may include sell recommendations based on those identified investments that have reached a high point (at least at some times and therefore at some times will be quite lame executives) . As a result, many investors like someone to tell them when it is appropriate to 'sell their investment. Because of the reasons given below, not all investors will follow buy and sell recommendations, but these buy and sell recommendations may be valuable recommendations for many investors. Without these recommendations, some investors may not Too willing to invest in directly held investments. Third, and perhaps most importantly, portfolios can be professionally linked by people who are good at generating complete portfolios. Under modern portfolio theory, the risk-reward of a portfolio is different from the risk-reward of individual stocks in the portfolio, so it is important to obtain a proper investment portfolio and perfect its establishment; this requires professionals. This paper size is applicable to Chinese National Standard (CNS) A4 specification (210X297 mm). Packing ---- Ί, (Please read the precautions on the back before filling this page) Order 200300535 kl B7 V. Description of the invention (13) (Please (Please read the notes on the back before filling this page) Therefore, the embodiment of the present invention provides an interface to a computer-based portfolio management system. Via this interface, it can provide input in the form of investment buy and sell recommendations, and provide Users can choose the complete subordinate portfolio for investment. Fig. 1 illustrates an exemplary embodiment of a system 10 for performing manager input to a computer-based portfolio management system. The system 10 includes a computer 2 used by the manager to input the manager's subordinate portfolio to a portfolio management system operating on the portfolio manager server 11. In addition, this sub-portfolio may be entered as a sub-portfolio of any other user, with amendments stating the fact that the manager does not invest. The manager's subordinate portfolio may be created by the manager to view or track the subordinate portfolio ", and then the system transmits it to all users 5-8 as one of the pre-set subordinate portfolios. The watched or tracked subordinate portfolio is a kind of subordinated portfolio that investors can use to track possible investments without actually investing any money. In the watched or tracked subordinated portfolio, users can choose the amount they want to invest and then Watch the investment growth or not, as if they are actually investing. Printed by the Intellectual Property Bureau of the Ministry of Economic Affairs's Consumer Cooperatives) The manager's subordinate portfolio is stored in the system database 9 and the manager is also stored in its database 1. System operator 1 2 Controls the access and execution of the portfolio manager 1 1. The system 10 includes, for example, a communication link through which the manager can provide a complete subordinate portfolio to the Internet 4. The communication path to the Internet can include a servo Device 3 and / or via e.g. telephone modem, cable modem, cellular number: _machine, and / or satellite chain Internet connection, etc. This paper size applies to China's national standard (2i0x 297 mm)--18- 200300535 A7 B7 V. Description of the invention (14) (Please read the precautions on the back before filling this page) An embodiment of the portfolio manager system includes subordinate portfolios such as: Internet stocks, high software and hardware trial version stocks, low software and hardware trial version stocks, etc. Through the manager interface, the manager can provide corrections to securities that can be used. The complete recommended subordinate portfolio (referred to herein as, the manager's subordinate portfolio ") to the system. The user can then select one or more subordinate portfolios that resemble any other pre-set subordinate portfolio manager. The manager's subordinate portfolio may include a majority of securities, i.e. approximately two to ten, five to fifty, and / or thirty to fifty-five securities, and a relative percentage of the total investment allocated to each securities . For example, a portfolio may contain fifty-five securities, each of which is assigned a relative percentage of 2%. Therefore, for every $ 100 invested in this subordinate portfolio, $ 2 is invested in each security. The same manager may recommend a majority of subordinate portfolios from which users can choose. In addition, most managers can provide recommended secondary portfolios from which users can choose. As a result, users may choose the majority of subordinate portfolios managed by different managers. There may also be unequal percentages printed by employees of the Intellectual Property Bureau of the Ministry of Economic Affairs. This example will allocate each security based on its relative market capitalization percentage. In this example, the market capitalization of each security will be added to form the total market capitalization of these securities. Individual ratios will be calculated by dividing the market investment amount of each individual security by the total market capital of these securities. For example, if the total market capital of all securities in the subordinate portfolio is $ 100,000,000 and the special securities have a market investment of $ 10,000, then this allocation ratio will be 10,000,000 m 〇〇, 〇〇〇〇〇〇〇〇 = 〇.1〇 (or ίο%) 〇 This paper size applies the Chinese National Standard (CNS) A4 specification (210X 297 mm) -19 ~ 200300535 A7 ___ 5. Description of the invention (15) It is also possible to manage various securities according to the administrator Relative Strength Belief Weighted Securities (Please read the notes on the back before filling out this page) Figure 2 illustrates an exemplary embodiment of a procedure and / or method 20 for a user to modify a manager's investment portfolio. In action 21, the user selects the manager's subordinate portfolio. In action 22, provide the user with the opportunity to perform any modification to the manager's subordinate portfolio. Such a modification may be a composition modification weighed by, for example, the percentage, proportion, or dollar price of any stock in the subordinate portfolio. Such amendments may also include selection amendments in which specific shares appearing in the manager's subordinate portfolio are deleted. If the user does not wish to perform any modification, the program proceeds to action 27 and outputs the unmodified dependent portfolio. If the user wants to make changes, the user is allowed to make those changes in action 23. The Intellectual Property Bureau of the Ministry of Economic Affairs (Industrial and Consumer Cooperatives) printed the user in action 24 and then was provided with the option to replace any deleted stock. If the user wants to replace the deleted stock, the user chooses an alternative in action 25 If the user does not want to replace the deleted stocks, the user can redistribute the amount of the deleted stocks to the remaining stocks in action 26. This returns the user to the user's modification action 22. If nothing is left The modification, the program proceeds to action 27 and outputs the modified dependent portfolio for storage. The user's modification is stored so that any changes that may occur in the manager's dependent portfolio can be modified in the future. Once the modified dependent is generated For portfolio, the user can choose the amount of any investment for the entire subordinate portfolio in action 28. In action 29, the subordinate portfolio and the amount of the investment are then transmitted to the portfolio manager system for execution and the process ends Zhang scale is applicable to China National Standards (CNS) A4 specifications (2) × 297 mm -20- 200300535 A7 B7 V. Invention (16) (Please read the notes on the back before filling out this page) When the securities in the manager's subordinate portfolio change according to the changes made by the manager, the system informs the user that the subordinate portfolio of the manager can now be obtained Revised version. This notice may occur each time the manager's subordinate portfolio changes, or at other intervals, such as daily, weekly, monthly, and / or quarterly. These changes may occur periodically, such as quarterly, quarterly Monthly, weekly, daily, and / or maybe even hourly, or non-periodically, and in certain embodiments, these changes are always under the control of the manager. The user can then follow the modified subordinate portfolio in the same way Rebalance their investments, otherwise users will rebalance their subordinate portfolios to account for changes in stock valuations, market capital, etc. For example, if a user ’s subordinate portfolio changes from the manager ’s change in investment allocation to the manager ’s To modify the subordinate portfolio, the user can rebalance by buying, selling, or both as described below. Intellectual Property Bureau, Ministry of Economic Affairs Printed by the Cooperative Cooperative Figure 3 illustrates an exemplary embodiment of a procedure and / or method 30 for performing changes to a subordinate portfolio received from the manager's manager. This example assumes that the subordinate portfolio of the manager only Includes stocks, but if any of the above-mentioned subordinate portfolios can contain any assets, rights, or liabilities. In action 31, 'based on any changes in the subordinate portfolio of the receiving manager, the system will notify all subscribers to the subordinate investments of the manager Portfolio. In action 32, before making any changes, the system asks the user if they wish to perform their previous corrections to the manager's subordinate portfolio. If so, in action 33-35 'Make the user's previously stored changes The execution is newly received. In action 36, the user is also asked if he wants to implement any new changes. If so, in action 37, the system repeats action 23 in Figure 2. This paper size applies the Chinese National Standard (CNS ) A4 specification (210X 297 mm) -21 _ 200300535 A7 B7 V. Description of invention (17) (Please read the precautions on the back before filling this page) 2 6. If there are no new changes, the process proceeds to rebalance the user's existing portfolio to the manager's newly received (or newly modified) subordinate portfolio. As mentioned above, this rebalancing can be performed by rebalancing with new capital in act 38a, or by selling in act 38b, or by the user's choice in act 38c. The new ratio of the newly received (or newly modified) subordinate portfolio established by the manager is compared to today's market prices and differences that determine how much rebalancing is required. If certain stocks that have disappeared in the manager's newly received (or newly modified) subordinate portfolio are now in the user's version of this subordinate portfolio, those stocks are sold (or moved to the retained subordinated investment combination). Certain stocks are purchased if they are in the newly received (or newly modified) subordinate portfolio of the manager and not in the subordinate portfolio version of the current user. Before purchasing any stocks, if any, the system will first pay attention to the user's holding of the subordinated portfolio and use those parts of the subordinated holdings before the purchase of any new parts of those stocks. Printed by the Consumers' Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs The communication link to the manager may include an application program interface (API) to the portfolio manager system. This communication link may further include an internet protocol communication and conversation layer between a computer (such as a server) relocated to the manager's system and a computer (such as a server) deployed to the portfolio manager's system. These servers can communicate using, for example, Hyper File Transfer Protocol (HTTP) or secure Hyper File Transfer Protocol (HTTPS). Information can be transmitted using predetermined protocols, such as the Federal Internet Exchange (FIX) protocol, Extensible Markup Language (XML), and so on. This paper size applies to the Chinese National Standard (CNS) A4 specification (210X297 mm) -22- 200300535 A7 B7 V. Description of the invention (18) (Please read the notes on the back before filling this page) During this conversation layer, management People can recommend users to invest a certain number of times a year in a larger portion of their annual investment based on market assessments and / or other factors such as expected changes in interest rates, expected profit announcements, and / or manager's market outlook analysis And a smaller part is invested in other times of the year. The manager's subordinate portfolio may propose a specific amount or percentage of the investment to be apportioned in the subordinate portfolio of the investor. These recommendations can be in the form of weighted buy / sell recommendations. In addition, users may prefer certain stocks in the manager's subordinate portfolio. When users generate their subordinate portfolios, these stocks can be deleted from the subordinate portfolio version of the user's manager. For example, when a subordinate portfolio is initially generated, the user may designate certain stocks or securities, such as tobacco stocks, military stocks, etc., to be permanently removed from the subordinate portfolio version of the user. Printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs. For example, when the user clicks to indicate that the user wishes to select the subordinate portfolio of the manager of the subordinate portfolio as an investment tool, the user will then be asked if he wants to modify Subordinate portfolio. If not, the program will continue to ask users how much they want to invest. If the user answers the instructions indicating that the user wants to modify the "yes" of the subordinate portfolio, the user will then be allowed to delete certain securities, choose to have additional securities, and / or modify the ratio. Each of these modifications is stored in a "delta file" so that when the user later rebalances his subordinate portfolio to the manager's subsequently modified subordinate portfolio. The revised subordinate portfolio can be adjusted according to the user's modification. The system can store this modification in the "delta file", and then apply the Chinese National Standard (CNS) A4 specification (210X297 mm) according to the paper size of the manager's subordinate portfolio. -23- 200300535 A7 B7 V. Description of the invention ( 19) After the revised version rebalances the investor's subordinate portfolio, the user's "standard" modification is performed. (Please read the notes on the back before filling this page) As another example, if the user deletes the tobacco stock, otherwise the money invested in the tobacco stock is placed on the pharmaceutical stock (instead of the tobacco stock), and the user's subordinate portfolio Future corrections will be treated the same. Otherwise, the amount invested in tobacco stocks may be invested in the stocks designated by the user, or allocated to other stocks in the subordinate portfolio in an equal proportion or some other proportion designated by the user, such as the proportion of market capital. In other exemplary embodiments, the administrator may be provided with a web page on a system that requires only the password and user ID that the administrator knows. In order to generate and modify the manager's subordinate investment portfolio, the manager can simply log into the system and generate a portfolio of investments like any other user. This guarantees that the administrator is using the same stocks obtained to users of the system. Moreover, the management can then provide investment recommendations for the system that complements daily trading. Printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs. In another exemplary embodiment, most managers can provide a subordinate investment portfolio from which a user can select one or more recommended portfolios. As a result, users can have a majority of subordinate portfolios in a single account, each managed by a different manager. Moreover, the user can select the majority of the subordinate portfolios to produce a single subordinate portfolio with essentially the majority of managers' recommendations. For example, a first manager may recommend 20 securities each with a designated weight. The second investor may recommend 25 securities each with a designated weight, some of the 25 securities overlap with the 20 securities recommended by the first manager, and the third manager may recommend each with a designated This paper size applies the Chinese National Standard (CNS) A4 specification (210X 297 mm)-"-24- 200300535 A7 B7 V. Description of the invention (20) (Please read the precautions on the back before filling this page) 30 securities. The user can then select the three recommended subordinate portfolios from a large number of recommended subordinate portfolios and aggregate them into a single user subordinate portfolio. Individual weights are the sum of the weights specified by the manager divided by the number of aggregated subordinate portfolios (three in the example). Thus, if Dependent Portfolio 1 includes Securities A with 5% weighting, Dependent Portfolio 2 includes Securities A with 4% weighting, and Dependent Portfolio 3 includes Securities A with 3% weighting, then the user's aggregated Dependent Portfolio China Securities A's aggregate weighting is 4%. Alternatively, users can apply weighting to average these three subordinate portfolios. In this example, the aggregate weight is the average weight of the weights in the three subordinate portfolios. For subordinate portfolios that do not have special securities, their contribution to the weighted sum is zero. In addition, users can re-weight individual assets / entitlements / liabilities in any way they wish. In this example, users aggregate only the recommended securities and then apply their own weights to all the securities. Investment Consultant Market Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economics Embodiments of the present invention also include an investment consultant marketplace that enables users of the portfolio manager system to obtain investment advice from most investment consultants. These investment advisers compete with each other for the choice of users, at least possibly improving the quality and price of investment advice. Therefore, for the first time, the present invention provides a virtual marketplace for generating investment advice for direct consumer acquisition. As such, this perspective of the present invention allows the nature and advantages of competition to be accomplished in the choice of investment advice. These advantages include increased results, lower costs, and better service paper sizes. Applicable to China National Standard (CNS) A4 specifications (2! OX297 mm). -25- Printed by the Intellectual Property Bureau of the Ministry of Economic Affairs, Consumer Consumption Cooperative, 200300535 A7 B7 V. Description of Invention (21). According to this aspect of the invention, each investment adviser provides one or more recommended investment portfolios as described above. These portfolios (or subordinate portfolios) are presented to the user along with other pre-set subordinate portfolios. Users can select one or more of the investment advisor's subordinate portfolios to generate their own subordinate portfolios. For example, a user may aggregate two or more subordinate portfolios from various investment advisors to produce a single subordinate portfolio. To do so, the user only applies weighting to the selected subordinate investment portfolio, and then the system generates a large subordinate investment portfolio with the appropriate investment mix as if the separate subordinate portfolios were individual securities. In addition, investment consultants can gain user business by supplying price models for their different subordinate portfolios. For example, some investment consultants offer a fixed price subordinate portfolio. Other investment advisers will provide a free subordinate portfolio initially, but if the investment is profitable, a portion of the profit will be collected. In the latter example, investment advice will only be paid if the profit exceeds a predetermined threshold set by the investment advisor. For example, if the investment profit exceeds 10% over a predetermined period, the investment consultant will request 1% of the profits of its subordinate portfolio as compensation. Most price strategies are possible. For example, if the investment profit exceeds 10% over a predetermined period, the investment consultant will request 1% of the profits of the subordinate portfolio as compensation, 2% if the investment profit exceeds 20%, and 5 if the investment profit exceeds 30% %. These prices become feasible when the investment is controlled by the portfolio manager system. Moreover, investment advisers deal with the conduct of these investments, whereby they can price their proposals in this way. In addition, in the case of competing market conditions, for example, the investment Gutai paper size applies the Chinese National Standard (CNS) A4 specification (210X 297 mm) ~ ~ " -26- (Please read the precautions on the back before filling (This page)

200300535 A7 B7 V. Description of the invention (22) (Please read the notes on the back before filling out this page) Ask to recommend a subordinate portfolio that will outperform inflation after a predetermined period. If so, a part of the profit paid by the user Serving, such as 0.1%. Similarly, subordinate portfolios may be planned to outperform certain indices, and if they fail to meet their design goals, there is no need to pay for this subordinate portfolio and return this guarantee. By placing investment advisors in a position to solicit user investment, it becomes feasible to supply better investment advice at the most competitive prices. Moreover, by enabling investment consultants to share the profits of users, investment consultants can obtain a large amount of remuneration for profitable suggestions, so that highly capable investment consultants can generate appropriate motivations to provide their users to the system. Moreover, by providing the possibility of recommending an investment adviser to potentially millions of users, this embodiment allows the investment adviser to obtain a large amount of income, thereby increasing the availability of the most profitable investment adviser available. Today, these highly-capable investment advisers provide advice to large funds. Due to investment restrictions, a small number of investors cannot invest in some of these large funds. This embodiment immediately assembled recommendations for many investors to remove this statutory obstacle by not imposing restrictions on arbitrage funds or other similar investment vehicles. Printed by Ministry of Economic Affairs 04Γ Industry Bureau Consumer Cooperatives Each investment consultant is provided with a user identification and password, so that the investment consultant can log in to the system on the website and can be accessed so that the investment consultant can generate or modify the graphics of the subordinate investment portfolio User interface. Once a subordinate investment portfolio is generated, the investment consultant can make available subordinate investment portfolios to users and specify service fee arrangements, such as direct payments or profit on scheduled profit. When the user then selects one of these subordinate portfolios, the system requires the user to understand the service fee. If the service fee is a direct payment, it is deducted from the user account and transferred to the account of the investment consultant. If the service fee is the basic paper standard, the Chinese national standard (0 milk) 6 4 specifications (210/297 mm) " '-27- 200300535 A7 B7 V. Description of the invention (23) According to the profit, the user Subordinate portfolios cannot be modified and changes are controlled by the investment advisor, so that when an investment advisor modifies its subordinate portfolio, these changes are also automatically performed on the user's version. Moreover, under this arrangement, during the designated service fee arrangement period, the user is not allowed to withdraw funds from the account to ensure that available funds can be used to pay the service fee. However, the user may remove funds related to the subordinate portfolio based on service fee arrangements such as whether the service fee hinders this investment or if it is lost due to early removal. The service fee arrangement based on profit needs to be minimized to prevent use: those who invest a small amount to obtain investment advice, and then invest in their own account to obtain a balanced profit of the proposed profit without paying service fees. In addition, some accounts do not list the investments selected by investment consultants, but only blindly invest to protect investment advice. Such accounts are more suitable for certain users who, due to their current professional responsibilities, such as high-level government officials, do not know their investment targets. When the user's subordinate portfolio obtains the specified profit through the service fee arrangement, the system automatically deducts the specified service fee or percentage from the user's account and transfers it to the investment consultant. Because the system manages the user's account, the Gu system can determine the profit ratio of the investment subordinate portfolio selected by the user for each of the service fee arrangements of the subordinate investment portfolio that have a profit on the investment of the subordinate portfolio. If the majority of affiliated portfolios are selected, a service fee is paid to the majority of investment consultants. By acting as an intermediary between investors and investment consultants, the portfolio management system provides the ability to guarantee user fees and the services provided by investment consultants, thereby eliminating the risks of parties to each other's transactions. The size of this paper is applicable to China National Standard 匚 (） 奶) size 8 (21〇 > < 297 public luxury) ^ -28- --------- install-(Please read the precautions on the back before (Fill in this page) Order printed by the Intellectual Property Bureau's Consumer Cooperatives of the Ministry of Economic Affairs, 200300535 A7 V. Description of Invention (24) (Please read the notes on the back before filling this page) Also, by generating a competitive investment advice market The portfolio manager system ensures a system that will make money for both users and investment consultants. By providing commoditized investment instruments that can provide investment advice through this investment advisor, these investment instruments can then be put into price and performance competition to generate a competitive investment that will make both users and investment advisors profitable. Investment advice market. An example of a commoditized investment vehicle is a model investment portfolio, which can be updated based on market conditions and this update can be automatically forwarded to buyers of the model portfolio. : The Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs prints an exemplary embodiment of each method of generating an electronic marketplace for investment advice for consumers with investment advice, all engaging in electronic portfolio transactions of marketable assets / liabilities, which enables consultants Coco Electronics generates a model portfolio of marketable assets / assets / liabilities. The server automatically promotes the model portfolio generated by the consultant as a pre-set portfolio that one or more consumers can purchase individually or in combination with each other. This resulting portfolio can then be bought and sold by one or more consumer electronics into a complete portfolio of assets / liabilities that can be traded on the electronic market. The service fee combined with each model portfolio is displayed with the model portfolio. Depending on the choice, one or more other model portfolios can be purchased separately or combined to purchase the model portfolio. This service fee must be paid to the consultant who generated the model portfolio. Any service fee combined with the portfolio purchased by the consumer. The funds allocated to the purchased portfolio are automatically deducted and forwarded to the respective consultants. User interface and interaction with the portfolio manager This paper scale applies Chinese National Standard (CNS) A4 specifications (2IOX 297 mm) -29- 200300535 A7 B7 V. Description of the invention (25) (Please read the notes on the back first (Fill in this page again) As a result, money managers can generate pre-set subordinate portfolios that users can choose to invest in. The user's individual portfolio is then synchronized with the money manager's recommended subordinate portfolio. Before an individual's individual portfolio is synchronized with the recommended subordinate portfolio of the investment consultant, the model manager and account manager must be defined in the portfolio manager system. Because members can play one or other role, some features of the portfolio manager system are conditional on membership. This can be done by generating a set of role flags in the portfolio manager database. Setting up a model account. During the generation of members, the consultant will indicate whether they are a management model (such as by selecting the "Yes" or "No" list Radio button). If consultants do not choose the management model option, they can choose to do so at any time by selecting the "Account Settings" logo and modifying their options. By selecting "Yes", the system will generate a model account number (and logo) for the consultant. The print will be printed by the Consumer Property Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs. Instead, all individual operations will be set up as model administrators through program sponsors. These patrons can purchase their company by phone or in person, or online. In addition to the CSR screen that will enable sales staff to generate memberships for money managers, there is also a membership generation path for money managers. Generating the model dependent portfolio In the first step of the process, the model is used to generate a model that acts as a template for the subscriber. The paper size applies the Chinese National Standard (CNS) A4 specification (210 × 297 mm). -30- Consumption by employees of the Intellectual Property Bureau of the Ministry of Economic Affairs Cooperative printed 200300535 A7 B7 V. Description of the invention (26) F0U〇. Investment club managers, money managers, or other types of model managers will set up a viewing FOLIO to present their models to certain other users who will be able to subscribe. If the model managers are also consultants, they will also have their own set of actual viewing F0U0 that can be used to test investment strategies. The model account is subdivided into "Issue" and "Not Issued" models. Issuance models are now available to subscribers. Model managers can issue their models at any time, but if the model does not have any subscribers, they can simply not issue (And delete) models. These new model FOLIOs are generated as viewing accounts. The model management screen enables the creation and adjustment of these "shareable" viewing FOLIOs. Using viewing FOLIOs as models allows model managers to track changes as changes occur They model: changes (i.e., price fluctuations, actions of corporate organizations, etc.) 〇 To illustrate the function of the system, ie, user interaction, several examples will be used.

Example 1: The model manager generates the model FOLIO It is assumed that the model manager has just started using the FOLIO consultant system. The model managers hope to produce a model FOLIO to customers who can subscribe to their company. This will be their first model FOLIO. This first model will be an aggregate growth model with a majority of 25 stocks from the technology sector. Normally, the model manager logs into the consultant website. He sets up the model FOLIO according to his needs, names it, enters the fictitious dollar price of the investment, and provides the subscriber with a short description. In the following program, the user mentioned is the paper size applicable to the Chinese National Standard (CNS) A4 specification (2 丨 0X297 mm) 丨 ----: ---, order ------- -(Please read the notes on the back before filling this page) -31-200300535 kl B7 V. Description of the invention (27) (Please read the notes on the back before filling this page) Model manager. FIG. 4 illustrates a money manager information page 40. We assume in this example that the model manager holds an account with a FOLIO consultant 'and they are here set up as model managers. The following is a detailed description of user interaction with the system. After the model administrator logs in at www.folioadvisor.com, the system displays "My Model Screen" with no models available. See Fig. 5, which illustrates a screen 50 for the user of the administrator. Click on the link on this screen (such as the "My Model Screen" link or select a command from the displayed drop-down menu) to access most of the subordinate portfolios. Some modifications to the user's screen are available. For example, conditions can be placed on the identity based on the account type. For example, the investment manager can only see my model and model setting logo, and the mixed user can see all. And '.., the drop-down menu can be replaced by small icons that generate models, modify models, and synchronize models. The remaining features are then accessible from the account / model summary screen (not shown). Printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs Next, the model manager chooses "Generate Model FOLIO". See Figure 6. This screen allows users to generate model dependent portfolios in one of three ways: (1) create a dependent portfolio 61; (2) choose to immediately execute a dependent portfolio 62; (3) self-testing spreadsheets and other software program downloads Model Portfolio 63. There are four possible ways to build your own paragraph 61. In the first example, the user can individually select the stocks included in the model's subordinate portfolio. In addition, users can use certain tools to screen stocks, such as market capitalization, type, magnetic segment, etc. The third option provided is to use the software and hardware applicable version selector to select the paper size applicable to the Chinese National Standard (CNS) A4 specification (210X297 Gongli) according to the risk level of the market specified by the user. -32- 200300535 A7 B7 5. Stocks on the screen of invention description (28). Finally, users can transfer stocks internally from another subordinate portfolio. (Please read the notes on the back before filling this page.) In the immediate method 62, the user can choose the subordinate portfolio to be called, the type of subordinate portfolio, such as aggregate, stable, technical characteristics, etc., or browse All dependent portfolios. In the uploading method 63, the user may upload only a few commercial software programs such as Excel, Quattro Pro, Qincken, etc. to upload the subordinate investment portfolio. In this example, the model manager clicks on the hyperlink and selects the "first method to create your own model" 61. The bag model manager is shown in the screen of Fig. 7. This screen 70 includes a field with the name 71, a dollar amount (for tracking purposes) 72, and a cash substitute 73, 74 (if two options are provided: exchange traded funds (ETFs) or closed bond funds). In the selection of each cash substitute, there is a drop-down menu (not shown), from which the user can select specific cash substitutes, such as ETFs or closed-end bond funds. Other cash alternatives are also possible, and those listed here are just examples. Employees of the Intellectual Property Bureau of the Ministry of Economic Affairs can cooperate and print with the company. In addition, they have the ability to select benchmark performance evaluation75 that compares the performance of models. For example, someone can use the index comparison model, this setting drop-down menu, stock (such as setting the field for entering the stock symbol), or fund (such as setting the field for entering the fund symbol). If the model manager wants to provide additional information about the model to its subscribers, the model manager can generate a website with this information and list the consistent resource locator (URL) in the field 76 set in the screen 70 ) carry out. The Internet address field 76 enables the model administrator to enter the table to make this paper size applicable to the Chinese National Standard (CNS) A4 Regulation (210X 297 mm-33-200300535 A7 ___ B 7 V. Description of the Invention (29) (Please read the notes on the back before filling this page.) Users can query the consistent resource locator (URL) for further information about their models. When account managers view useful models, they can display the URLs to this URL. Links ("Stock details, 'Links are at the retail website). The user entered the model's summary description field 77. In this example, the model manager decides to invest $ 100,00,00 in In his / her "following" model, name the model "aggregated" model, select his / her cash tool, write a brief commendation of his / her new model, and from "Generate Model: Model Settings The screen selects the appropriate transaction order. The Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs prints the click on the continue button and satisfies the error check on the data. The user presents the screen 80 in Figure 8. This screen 80 includes The user can enter a lot of stock symbol fields 8 1. The list of valid stocks for selection can be opened by clicking on the link of the alphabetical list 82 of stocks with FOLIOfn window. The stock symbol query link 83 is also opened. Settings, through which the user can search for stocks by name and get the combined stock symbol. In this example, the model manager's input will include this model stock market indicator symbol on the "Stocks by Stock" screen. Click the Continue button, and the system error check of the stock symbol is satisfied, and a screen 90 of "Generating Model: Assign Weight" shown in Figure 9 is presented to the user. The model manager then enters the weight of individual securities. Figure 9 lists In the stocks selected in screen 80 in Fig. 8, their current price, their market capitalization, and a weighted stop 91 can be entered by the manager. The weight must be added to 100%, otherwise the system will not accept them. In addition, The “cash” position (in this example, QQQ NASDAQ Trust 100) can be seen as separate from the remaining holdings; however, its position is entered in the total. China National Standard (CNS) A4 Specification (210X29? Mm) -34- 200300535 A7 B7 V. Description of Invention (30) (Please read the notes on the back before filling this page). Java scnpt can be used to send cash Positions increase or decrease in proportion to the size of securities (that is, when users increase a specific investment by 1% in cash positions, the weighting is automatically reduced by 1%). Users can also allocate weightings equally or according to market capital And and individually assign weights. Once the weights are entered, the user clicks the Continue button that takes the user to the screen of Figure 10, assuming that the error check that added the weights to 100% has been satisfied. Returning to Figure 10, the model manager then views his model and chooses to generate a model from the "Generate Model: View Model" screen 100. This allows the user to view the selections received by the system for the final selection before implementing them. an examination. You can add model descriptions that show paragraphs of the file: expand the cells when needed (eg downwards). Links to more information selected on model settings, cash alternatives, and benchmark performance evaluations can be set. The holding segment (trading order) can have model weights in it. This segment can be subdivided into two visible segments. One contains model information and the other contains tracking data. The dollar 値 and the percentage-weighted sum are displayed below the screen. The percentage must be equal to 100. Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs. If the manager is satisfied with the model, click the Continue button and satisfy any errors on the data. The model manager will have the option to issue this model as a subscription (eg, a user with a portfolio manager system in or outside his company). Screen 1 1 0 prompts the user if they want to publish this model. Click the "Know More" button to send the user to a help page that distinguishes between issuance and non-release models and provides information about the subscription process. If the administrator issues this model, he will be given another approval screen 120. Zhang scale is applicable to Chinese national standards (CNS> A4 specifications (210 ^ 97 Gongchu " 1 -35-200300535 A7 B7) V. Description of the invention (31) Finally, the model manager then checks out this website via Figure 12 and Figure 1 2 Includes, for example, telling the user that his changes will be reflected in the subscriber's account and an information field that enables the user to return to his or her model subordinate portfolio. The consultant and his company are now in their model group There is a model available for subscription. His / her corporate customers will now be able to subscribe to this FOLIO. The above embodiment can also be used to set up investment portfolios for investment clubs, or any other group. The following example proposes this capability.

Example 2: The manager of an investment club produces a club model FOLIO In this example, the investment club has just started using FPLIO club products. The investment club held a meeting where they decided to produce their club model FPLIO, starting with 30 stocks containing Dow Jones Industrial Average. Investment club managers are responsible for generating their models. Usually, the investment club manager logs into the system as the model manager. He decided to use RTG FOLIO for the model of the investment club. He named the model, provided a summary description, and entered fictitious dollars to track price fluctuations in the club model. He then examines and produces the model. In this example, the user is the manager of the investment club. We will assume that the representative of the investment club has opened an account with FOLIOfn, and therefore he / she has been set up as the model administrator. First, the administrator of the investment club logs in to www.f ο 1 i 〇f n. C 〇m, and then the system A "My Club" screen 130 shown in Fig. 13 without a model is displayed. Screen 1 30 enables users to access other screens to generate model dependent portfolios. This paper is sized for China National Standard (CNS) A4 (210X297 mm) ~ -36- (Please read the precautions on the back before filling this page )-Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs and printed on 200300535 A7 ___B7_ V. Description of Invention (32) (Please read the precautions on the back before filling out this page). The club manager has separate accounts for each of the following: viewing FOLIO (s), club model FOLIO (s), and club subscriber FOLIO (s). Any subsequent individual, joint, IRA, etc. will need their own account. On the screen 130, the investment club manager clicks the GO button 131 next to "Generate model dependent portfolio" and selects "Generate model FOLIO". This brings the club manager to a screen similar to screen 60 in FIG. Next, the manager of the investment club selects "select FOLIO immediately" from the "Generate model FOLIO: Select model" screen 60 (Figure 6). This brings the club manager to a screen (not shown) listing the immediate portfolios, from which the club manager selects the RTG portfolio. This takes the manager to screen 1 40 in Figure 14. Screen 1 40 includes fields for name 141, dollar amount of investment 142, model description 143, benchmark performance assessment 144, and cash substitute 145 (as described with reference to Figure 1). The manager of the investment club chooses to invest 100,000 in his / her model named “Blue Chip Value” FOLIO, selects a cash flow instrument, and selects a benchmark performance evaluation index. The note box is pre-entered with a summary of RTG FOOs. Printed by the Consumers' Cooperative of the 1st Bureau of the Ministry of Economic Affairs. According to the click of the preview model button, the system performs an error check on the names of FOLIO and cash funds. If the selection is not available, the box is marked with an asterisk and the system responds with an error message to the user. If the US dollar amount is left blank, the system uses preset settings, such as $ 1 0K. If the model description is left blank, the system preset cannot be applied. The manager of the investment club then views its model on the preview screen (not shown), and from the "Generate Model: View and Issue Model" screen (not shown) This paper size applies to China National Standard (CNS) A4 specifications (public (%) -37- 200300535 A7 B7 5. In the description of the invention (33), the production model is selected. Finally, the manager of the investment club checked out the website. Investment clubs now have models set up for their accounts. His / her club members will now be able to subscribe to this folio as described below. Managing the model The second step for the model manager is to manage the current model. The modifications made to these models are then replicated throughout the subscriber FOLIOS. The model manager is responsible for any required modifications to the model. Moreover, the money manager is the only one who has the ability to make changes on the model. Subscribers FOLIOs are not weighted, but are weighted according to the model FOLIO. Once the model is modified, the system automatically replicates the changes in the subscriber's FOLIOs. However, investment advisors have the ability to review transactions. These trading orders will be placed automatically. Other 'account managers can view transactions before they are placed in a semi-automatic manner. In another option, the account manager can synchronize "on demand". The frequency of these views is variable depending on the needs of the user (ie every transaction, filtered transactions, etc.). Figure 15 depicts a high-level overview of the day synchronization program 150. First, managers use weighted analysis and modify the model 151. These changes result in orders sent to consumers 1 52 to buy or sell stocks. Consumers perform stock exclusion coordination 153 and, if appropriate, receive orders 154 in sync with the new weighting. Transaction orders 1 55 are then generated by synchronizing the subscriber's weights with those of the model. In addition, the transaction browser is used to automatically view transactions 156. The transaction order is then released to the transaction order processing system 1 57. In addition, in the case of a large number of trading orders, the trading order may be delayed. This paper size applies the Chinese National Standard (CNS) A4 specification (210X 297 mm) (Please read the precautions on the back before filling this page). Printed by the Ministry of Intellectual Property Bureau S Industry Consumer Cooperatives-38- 200300535 Printed by the Ministry of Intellectual Property Bureau Assets and Industry Consumer Cooperatives A7 B7 V. Invention Description (34). The transaction instructions are then aggregated and executed 158. The transaction order processing receives the transaction results 159 and gathers them and forwards the required transaction information to the consumer. 149 ° The present invention allows one to easily modify the model dependent portfolio. Changes are then automatically copied to the subscriber's model subordinate portfolio into a modified model subordinate portfolio. The following example illustrates this capability. Example 3: The model manager modifies the model F0LI〇 In this example, the model manager has used FOLIO consultant products to design and manipulate the model for his / her company's subscriber users. The model manager has searched some BIO tech companies and decided to add some to the aggregate growth model. He / she also decided to remove some other securities. _ Normally, the model manager logs into the consultant website. He / she goes to the aggregation model and modifies it. He / she reviews changes and implements them. Orders are placed and the model is updated later. Modification instructions are then sent to the model's subscribers, FOLIOs. In this example, the user is the model manager. We assume that the model manager holds an account with a FOLIO consultant, in which he or she has generated an aggregate model with existing subscriber members. Similarly, the model administrator logs in w w w. F ο 1 i 〇 a d v i s 〇 r. C ο m, and then the system displays My Model Screen 1 60 (Figure 16) with most profitable models. The model manager selects "Modify Model". Screen 160 lists the models that belong to the model manager: released and not released models. Each model has a fictitious dollar amount combined for tracking purposes. The model manager can choose any of the listed models, modify the settings for this model, or make the subscriber and model apply the Chinese National Standard (CNS) A4 specification (210X 297 mm) from this paper size. I ------ --0 ^ ------- tr ----- (Please read the precautions on the back and fill in this page) -39-200300535 A7 __ ____B7 V. Description of the invention (35) (Please read the back Note to fill out this page again) is a portfolio synchronization. Tracking is equivalent to a fictitious dollar amount originally designed for the model. The drop-down menu can be removed; for example, there are two links via the illustration. Choose to modify the model: will take the user to the weighted screen. Selecting Sync will take the user to the preview trade order screen to synchronize with the target weight. The link to modify the settings can be accessed by clicking the model name on the model summary screen. This link bag user goes to the model setting screen. The model manager selects the modified model next to the aggregated model, which will take the user to screen 170 shown in Figure 17. The model manager then modifies the target weighting of the aggregation model. The system performs an error check to verify the 100% weighted allocation. The weighted distribution box is pre-filled with target weights, making it easy for model managers to rebalance the model. The system informs the administrator that once these weights are stored, they cannot return to the old target weights unless they are manually entered. This link allows the user to automatically set the desired weight. The user can choose equal weighting, weighting based on market capital, his own weighting, target weighting, or current weighting. Printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs. The model manager then clicks Save on screen 170, which will take the manager to screen 180 shown in Figure 18. This screen gives users the option to go back to my model or make and sync requests. At this point, the user has saved a new set of weights. They now have two options: (1) go back to my model screen & don't do anything; (2) place a synchronization request: this option will bring the person to. Preview the trading order screen (not shown). The model manager chooses to generate a synchronization request. The model manager then reviews his changes and selects "Start Sync" (Screen 190, Figure 19). Model information is separated from tracking information. List all securities. If they have not bought or sold this paper, the Chinese standard (CNS) A4 specification (210X 297 mm) is applicable. -40-200300535 A7 B7 V. Description of invention (邡) “No action” appears in the action column And "a" appear in the trading order tracking column. The model manager receives transaction order approval as shown in FIG. 20. Synchronized time / date flags replace trading order numbers. There is a description that the transaction order will be processed in the next 24 hours. Finally, he / she checks out the website. Modify the aggregation model with the new weight. The system will now send the order to the subscribers in weighted synchronization with the new target of the model.

Example 4: The model manager deletes the model FOLIO In this example, we assume that the model manager has used the FOLIO consultant product to generate and modify the aggregation model. The model manager now decides that he wants to delete this model. Normally, the model manager logs into the consultant website. He / she gathers the model summary and chooses to watch the model settings. He / she deletes the model. The user in this example is the model manager. The model manager now holds an account with F0LI◦ Advisor, in which he or she has generated an aggregate model without any existing subscriber members. The procedure continues as follows. First, model management logs on to www.folioadvisor.com. The system displays the My model with the most available models (see Figure 16). The model manager selects the "gather" model, which will take him to the screen 2 1 0 shown in Fig. 2 1. The model manager then selects "view model" from his model summary screen, which will take him to the screen 220 shown in Figure 2 2 so that the model manager can modify certain settings. In this example, the model manager chooses "Delete model", and the system applies the Chinese National Standard (CNS) A4 specification (210X 297 mm) via the paper size shown in Figure 2 3. f Please read the note on the back first Please fill in this page again on the matter of J-Pei, = Miao Xiaogong Consumer Cooperative of Intellectual Property Bureau of the Ministry of Economic Affairs-41-200300535 Printed by the Consumer Cooperative of Employees of Intellectual Property Bureau of the Ministry of Economic Affairs Β7 _ V. Description of Invention (37) The approval message approves that the manager wants to exercise the changes he / she requested. Finally, he / she checks out the website. After this procedure, the aggregate model is deleted and completely eliminated from the database. Users will not issue or delete any models that do not currently have subscribers. If a user modifies a cash flow instrument, this will be placed in his model as a cash flow instrument with a 0% weighting. Once the user has used the model subordinate investment group to co-invest, due to fluctuations in the stock price of the priority investment, the weight held by the timepiece is changed from the desired weight. The invention makes it simple to rebalance back to the original weighting, as shown in the following example. Example 5: The investment club manager updates the club model FOLIO In this example, the investment club has used FOLIO investment club products as their organization's trading platform. The club now holds 30 Dow shares, and they now want to rebalance their models. The manager of the investment club is responsible for the execution of the transaction that will send instructions to the subscriber's FOL10s in turn. Usually, the investment club manager logs into the system. He only chose to synchronize the models. He reviews the changes and chooses to start the synchronization request. The user in this example is the manager of the investment club. We assume that the investment club holds an account with F0LI0fn. The investment club manager has generated a model FOLIO for the club, and members have subscribed to it. The procedure continues as follows. The investment club manager login w w w. F ο 1 i 〇 f η · c ◦ m. The system displays the My Club Screen 240 with the displayed club model as shown in Figure 24. Manager's club account number and paper size ^ The paper size applies to the Chinese National Standard (CNS) A4 specification (210 X 297 mm) '' -42- (Please read the precautions on the back before filling this page) 200300535 Intellectual Property Bureau, Ministry of Economic Affairs A7 _B7_____ printed by employee consumer cooperatives V. Invention Description (38) type account number is distinguished. It displays any required corporate actions, the ability to provide subscription models for FOLIOs, even if users can place window transactions on a version of their model. The manager of the investment club chose "Synchronize subscribers". See Figure 16. The manager of the investment club reviews its screen on the "Modify Model FOLIO: Start Synchronization Request" (Figure 19) and selects "Start Synchronization". Finally, the investment club manager checked out the website. After this process, the investment club model has now rebalanced its weighted goals. A weighted synchronization instruction with the club model is now sent to the subscriber F0LI0s. Institutional Subscription Procedures Referring to Figure 25, the diagram here is a procedure 250 for subscribing to a portfolio of investment models in the context of an institutional structure in which an investment consultant manages investments. The upper parts 251 a-g show the activities of the investment owner, and the lower parts 252 a-f show the activities of the manager of the model-dependent portfolio. Individual user pages show subordinate portfolios and balance 25 1 a among those subordinate portfolios. Individual selection They invest in 25 1 b or choose model dependent portfolio 25 1 c from those model dependent portfolios retrieved based on the company / 1A relationship. The screen allows the user to select the model dependent portfolio 2 5 1 d. The investor allocates cash to the model dependent portfolio 25 1 e. A preview of the trading order is displayed to the investor 25 1f. All trading orders were approved 251g. The consultant can display each user's profile 252a, specify the synchronization type 25 2b, social exclusion 252c, and receive approval for any changes 252d. The link ID, synchronization type, and social exclusion are stored in the system's capital paper standards. Applicable to China National Standards (CNS) A4 specifications (2) 0X 297 mm. ~ '-43- (Please read the back Note for filling in this page again) Binding-200300535 A7 _____ _B7_ V. Description of the invention (39) Storehouse 25 2e. The designation of the link ID can control the transaction order submitted by the investor. 0 (Please read the precautions on the back before filling out this page.) Refer to Figure 26 for the retail subscription process. Here is an illustration of the personal management of his or her investment. Procedure 260 for subscribing to model portfolios in the retail context. The upper part 26 la-g shows the activities of the investment owner, and the lower part 262a-f shows the activities of the manager of the model dependent portfolio. Individual user pages show Subordinate portfolios and balance among those subordinate portfolios 26 1 a. Individuals choose to invest in 261b or select model subordinate portfolios from those subordinate portfolios retrieved based on the membership-to-member relationship. The screen enables users to select Pick model dependent portfolio 26 1 d. Investor allocates cash to model dependent portfolio 26 1 e. Preview of transaction instructions is displayed to investor 261f. All transaction instructions are approved 261g. Printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs An individual can display his or her status 262a, specify the synchronization pattern 262b, social exclusion 262c, and receive any changes 262d. The link ID, synchronization type, and social exclusion are stored in the system database 262e. The assignment of the link ID can control the transaction instructions submitted by investors. The subscription model FOLIOs on the other side of the program is The role of investment consultants. Their first step is to enable users to subscribe to specified models. The model manager generates certain models FOLIO that other users will be able to subscribe to. Once the model FOLIO has been generated and concurrently, this paper standard applies Chinese national standards (CNS ) A4 specification (210X297 mm) -44- 200300535 A7 ____B7 V. Description of invention (4) Line 'For any investment advisor who has access to that model, you can use it as a review or subscription. (Please read the back first Please fill in this page again.) The subscription process varies from user to user. The consultants have the ability to agree with their users and perform other administrative duties. The users of the consultants can only view their account number, not the entire model base. The investment club has a simpler The subscription path. Members can subscribe to the model FOLIO. This procedure excludes additional third-party vendors included in the advisory process In addition, there are various types of synchronization schedules that users can choose from. Once the model manager starts a synchronization request, a fully automated synchronization enables the subscription account to be updated with the new holdings and weights of the model FOLIOs. The consultant is required to participate in the synchronization process. According to the requirements, choose to have the consultant synchronize his or her user upon request. To the model. This is called a "pull" model and others are called "push" models, because in this example In the case, the consultant pulls the synchronization to the subscriber instead of the model manager to launch a synchronization request. The Intellectual Property Bureau's employee property cooperative prints and releases the synchronization so that the investment consultant can preview them before the transaction order is executed and prevent them when needed. The advisor has two transaction view options: all transactions and only filtered transactions. If the adviser chooses only filtered transaction options, he or she must only review and release the kicked out transactions because they have violated certain types of restrictions (such as excluded stocks, tax filters, etc.) and the remaining transactions Will be executed automatically. Stock exclusion procedures can be fully automated. Therefore, when the model manager purchases stocks that have been excluded from the account of an individual user, the system kicks out of the trading order and redistributes funds with the remaining subordinate portfolio trading orders. This paper size applies the Chinese National Standard (CNS) A4 specification (210X 297 mm) -45 ~ 200300535 A7 B7 V. Description of invention (41) After the consultant can log in to the system and re-invest in those funds. (Please read the notes on the back before filling out this page) Example 6: The consultant makes the user subscribe to the model In this example, the consultant has used FOLIO consultant products to manage money for his / her users. The consultant wants to start using the FOLIO synchronization product to enable the user to subscribe to his / her company's published models. Generally, an adviser logs into a website, opens a consumer account, selects an appropriate model, and places his / her user to subscribe to that model by placing a transaction order. In this example, the user is an investment manager. We assume that the consultant holds an account with one or more user accounts providing funds. The procedure continues as follows. First, the consultant goes to WWW.folioa dvisor.com and logs in to his account. The system displays "My User" screen 270, as shown in Figure 27. The consultant taps into their user account by clicking on their name, which will take them to screen 280 of Figure 28. Printed by the Consumer Cooperative of Dibu Zhichu Property Bureau. The consultant chose to start the subscription process. The process itself will be similar to the "Generate FOLIO" process, where the consultant chooses between immediate subordinate portfolios, custom subordinate portfolios and more. When presented on screen 290 of FIG. 29, the consultant selects a "model" selection and selects among available models with different characters. The consultant has the option to view an alphabetical list of models listed in alphabetical order or the names of model managers. The title of the message links the consultant to a list of all published models in his / her company (same as "All Release Models"). The system retrieves all suitable management FOLIOs for that company / IA. This will take the user to all paper standards that have been issued by the model manager for his / her company. The paper standards are applicable to the Chinese National Standard (CMS) A4 specification (210: 297). (%) -46-200300535 The Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs printed A7 _B7_ V. Invention Description (42) Another screen of the model list 3 1 0, as shown in Figure 31. The "List Alphabetically" link takes the consultant to a list of all models issued by his / her company. Consultants choose to compare performance characteristics set for their company's model (see screen 330 in Figure 33). The consultant selects the aggregation model from the screen 330 shown in Fig. 33. The consultant views all models issued by members of his / her company. These models are listed alphabetically by model name. The Essentials link provides essential information on current FOLIO. The name of the manager brings the consultant to the list of models issued by that manager, as if the consultant had clicked on the manager's name from the "Select Manager" screen. More information links direct users to the URL (if available) specified by the model manager in the new browser. In addition, a link is set to display the "disclosure information" of the legal branch that owns the model F0L0, which means when you have automatic or viewing synchronization. The "1 Comparative Performance" link is the performance screen of the user's emergent model for viewing. The adviser then uses screen 340 to prepare a trading order (see Figure 34). Once the model FOLIO has been selected, the user will decide: what to do with dividends; the synchronization schedule; how much to invest; and the name of the FOLIO (the name of the default model). All current FOLIO options will be unique to the subscriber: • Dividend reinvestment v. Cash • Trading order kick-out restrictions • Tax split selection method • Cash funds System approval continues to preview and place transaction order screen 350 (see Figure 35). Trading order kick-out restrictions will be preset for subscribers' FOLIOs. The paper size applies the Chinese National Standard (CNS) A4 specification (210X 297 mm) (Please read the precautions on the back before filling this page) -47-200300535 A7 B7 5 、 Explanation of invention (43) (Please read the notes on the back before filling this page) 10%. After placing the transaction order, the system will instruct the approval screen 3 60 (see Figure 36). Once the consultant executes the transaction ’system must be synchronized from the model execution to the subscriber F0LI0 °, so then every transaction made by the model manager is copied to the subscriber's account. IA checked out the system. Users are now subscribed to the aggregation model. He / she now holds that FOLIO in his account. Example 7: The investment consultant makes the user not to subscribe to the model In this example, the investment consultant decides to make the user not to subscribe to one of his / her models. Generally, the consultant logs in to the website, opens the user profile, and selects the "don't subscribe" option. The user in this case is a consultant. We assume that the consultant holds an account with a user who has subscribed to one or more models. Intellectual Property Bureau of the Ministry of Economic Affairs ρ 'τί Consumption cooperation, printing by society This procedure continues as follows. First, the consultant went to w w w. F ο 1 i 〇 a d v i s ο 1. · c 〇 m and logged in to his account. The system displays "My User" screen 270 (see Figure 27). The consultant clicks on the "watch" link to explore the user's profile, which takes him to screen 370 shown in Figure 37. The consultant selects the "don't subscribe" option, which takes him to screen 3 80 in Figure 38. The system enables the consultant to approve this as the action he wants to take. In addition, the "know more" link tells them the significance of not subscribing. Once the subordinate portfolio is disagreed, FOLIO weights the objective of the model it adopts. Modifications to the model are no longer copied from previous subscriptions. The consultant will then return to the user's profile screen, shown in Figure 37. The consultant also chose to edit other information from this screen 370, such as stock exclusion. Click the stock exclusion link on the screen 3 7 0 to take the user to the screen in Figure 3 9 The paper size is applicable to the Chinese National Standard (CNS) A4 specification (210 × 297 mm) -48-200300535 A7 B7 V. Description of the invention (44) 3 90. If a stock exclusion is encountered when placing a synchronization instruction, the system automatically removes the excluded stock and redistributes funds with the remaining subordinate portfolio trading instructions. IA checked out the system. The user has not subscribed to the aggregation model. He / she now holds FOLIO with no subscription link in his account.

Example 8: The model of the investment society members subscribing to the club FOLIO In this example, the new investment society members are excited to open an account in FOLI Of. He added the model to his account and made his first investment in the club's latest model, FOLIO. Usually, members of the club log on to the website, subscribe to the club model F〇LI〇 and check out. In this example, the user is an investment society member. We assume that there is an investment club account with funds provided. The procedure continues as follows. Members of the Investment Association go to www.f0li0fn.C0m and log in. The "My Account" screen appears. The club members started the subscription process. The procedure itself is similar to that of a member of the society choosing immediately between the subordinated portfolio, personally customized subordinated portfolio, and more, to generate the FPLI0 "program (see screen 2 9 0 in Figure 29). The member of the society will choose the" model " f〇LI〇5, selection and selection of models available from different investment clubs. The system retrieves all suitable models F0LI0s for that society member. The club member review model FOLIO selects and selects the potato club] p0LI〇 (see camp screen 4 1 0 in Figure 41). In this example, the club member can choose to view or automate transactions (automatic synchronization). The system returns to the user can enter the amount they want to invest, the name of F0LI〇, and the assets selected by their dividends. The paper size applies the Chinese National Standard (CNS) A4 specification (210X 297 mm) I-- ------ Installation (please read the notes on the back before filling this page) Order printed by the staff of the Intellectual Property Office of the Ministry of Economic Affairs -49-200300535 A7 B7 V. Invention Description (45) (Please read first Note on the back, please fill out this page again) Assign screen, the system approves his order and proceeds to preview and place the trading order screen. The members of the society approve FOLIO's negotiation instructions and system placement transaction instructions. Club members check out the system. Investment society members have now purchased the model FOLIO. Retail users The subscription process for retail users is almost the same as the subscription process for institutional users. The retail user starts the subscription process by selecting the "Selection Management FOLIO" link from the list of FOLIO generation methods in the screen 400 in Fig. 40. It is then presented to the user as a model FOLIOs that he or she can subscribe to. For example, an investment society member can subscribe to the model F〇U〇 generated by the club manager, as shown in screen 410 of FIG. 41. .: Once the model FOLIO has been selected, the user follows the same process as the institutional user. In essence, users must choose their synchronization method (automatically or on request), their asset allocation and FOLIO name, preview transaction order screen, and approve transaction order screen. The retail look and feel is the only difference between the two processes / processes. Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs Once the transaction has been completed, a transaction instruction for the buy model FOLIO is generated. In addition, the subscription link exists between the retail consumer's FOLIO and the model FOLIO. Links: (i) Model FOLIO to help contact model FOLIO and retail members; (2) To help identify account numbers, and FOLIIs that need to be updated when changes are made to model FOLII; (3 ) Help identify the type of synchronization link that exists between the model FOLIO and the receiving account; (4) Help identify any restrictions that exist on the receiving account. -5〇- This paper size applies Chinese National Standard (CNS) A4 specification (2) 0X29Hf 200300535 A7 B7 V. Description of invention (46) (Please read the precautions on the back before filling this page) Retail users continue to have The ability to add to account numbers for specific stocks and social exclusions. They can do this using the existing Account Limit screen and the process is the same. Any restrictions added, changed, or deleted must be stored or mapped to the subscription link. To manage FOLIO without subscription, retail users have the same capabilities as institutional users. They have access to the subscription page through their "My profile" screen. Investment clubs can use the inspection and balance system, and club managers are notified here of members who do not subscribe to the model FOLIO. This action affects their invoicing status. Retail users can also change their "sync" option. This feature allows the user to choose between automatic links or view links. The automatic link automatically generates the required trading instructions to enable the holding and weighting and use of the model FOLIO to match the holding and weighting capabilities of their specific FOLIO. The auto-sync command can be overridden by account restrictions placed by the user using the tools specified above. Printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs. Check the link to automatically generate a transaction order request in the account of the user who has not processed the transaction order. This procedure also triggers alert emails to inform users of their outstanding negotiation instructions and the steps required to accept or reject them. Users can modify their synchronization type by accessing page 420 as shown in FIG. The screen includes the following functions: Select button: The user is preset to the synchronization type of their choice during the subscription model FOLIO. However, he / she will be able to modify their choices. Check box: The check box allows the user to agree to the Chinese paper standard (CMS) A4 specification (210X29? Mm) with automatic procedures for this paper size. -51-200300535 Μ ΒΊ V. Description of the invention (47) Conditions and actions of the conditions. Display field: Shows FOLIO which will change. (Please read the notes on the back before filling out this page.) Error check: If users want to sync automatically, they must select all appropriate check boxes. If users want to view the sync, they do not need to select any checkboxes. Button: The navigation buttons on this page cancel the transaction or continue the program. Once the user has selected their changes, they are presented with a "Change Approval" page. Add "Pending Parent Easy Instructions" page. This page is presented to the user in two cases: — View subscription types. When the model FOLIO is changed, users see this page that reminds them of pending trade orders. — Kick Out Restriction Results: When the model F0LI〇 is changed and the user / company stock limit is changed, they see this page. · Retail users will see this page the next time they access their membership and will not continue until they have made a decision. The "Pending Trade Order" page 430 is illustrated in Figure 43. This page includes the following functions: Printed display fields of the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs: Provide all relevant information for users, such as: (Calendar days) 鼸 Transaction 値 鼸 Action 谰 Warning This paper size applies Chinese National Standard (CNS) Α4 specification (210X 297 mm) -52- 200300535 A7 B7 V. Description of the invention (48) (Please read the notes on the back first Fill out this page again) Link: Each pending item on this page is linked to a detail page. This detail page allows retail users to preview the proposed transaction order. The detail page can be in the form of a pop-up screen. It may include a "warning" icon linked to a detail page that specifies why the order was kicked out. Select button: Each pending item has "Accept" and "Reject" buttons. These buttons either cause the transaction order to be executed in the next possible window or completely remove the transaction. Only one button for each item will be selected. Error checking ... Before users can proceed, make sure they have selected one of the selection buttons. Generating and processing transaction orders The final step of the FOLIO synchronization process involves reviewing and processing resynchronized parent orders. The amount of effort required to review the parent instructions varies from company to company and based on how much human control the company wants to have a user account. Investment managers with highly tailored user accounts require additional human changes to subordinate portfolios. When the investment advisor maintains an account that always automatically mimics the model's subordinate portfolio, less interaction with the trading order itself is required. Printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs Example 9: The system generates pending transactions to resynchronized FOLIOS. In this example, the system generates a list of pending transactions to the model manager based on the changes made by the model manager. When preparing each transaction for the FOLIO subscription, the system verifies that the transaction does not violate any existing stock or social exclusion. Normally, the model manager changes his model FOLIO, and the system accepts that the paper size applies the Chinese National Standard (CNS) A4 specification (210X297 Gonglu-53- 200300535 A7 B7) 5. Description of the invention (49) (Please read the note on the back first Please fill in this page again for any relevant matters) Any relevant order for synchronizing the subscription of folio. The system prepares a list of affected portfolios and generates each transaction order. For any subscription FOLIOS with exclusion settings, the system limits the viewing of transaction details . The user is the FOLIO system. We assume that the model manager has modified the model FOLIO using the FOOU consultant. At least one of the consultant's customers subscribes this model F00u. The procedure continues as follows. The system receives all the models with the model FOLIO. Order to synchronize subordinate portfolios. The system identifies the subordinate portfolio list of subordinate portfolios subscribed to ί A. The system estimates the changes required for each subordinate portfolio to resynchronize with the target subordinate portfolio. The system subscribes for each subordinate portfolio A rebalanced trading order is placed on the portfolio. A list of securities trading orders associated with the changes required to re-synchronize the model's subordinated portfolio. For all subordinated portfolios subscribed in a fully automatic manner, the system downloads the trading order to the next window. Anything that requires manual review In terms of trading instructions, the system generates subordinate portfolio trading instructions accompanied by appropriate securities trading instructions, and places the trading instructions in a pending review state. Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs, a list of pending FOLIO trading instructions has been generated. And wait for the investment consultant to review. Example 10a: IA reviews pending transactions-IA releases transaction instructions that need not be implemented. In this example, the investment consultant uses F 0 L10 advisory products to review the results of the model manager's modification of the model FOLIO. Pending transactions. The investment consultant will review each auto-scaling standard applicable to China National Standard (CNS) A4 specifications (21〇X29 ^ J ^ '' 1-54-. 200300535 A7 _B1 before releasing the trading instruction to the next window V. Invention Explain (50) the transaction order generated. Each "accepted" transaction is placed Do it in the next window. (Please read the notes on the back before filling out this page.) The investment consultant logs in to the consultant website. She looks at the transactions that result from the change of the model FOLIO. For each transaction, she decides whether the transaction should be released. , Cancel, modify, or remain in the pending state as a further implementation. The user is an investment advisor. We assume that the system has generated a list of pending transaction orders based on the modifications made to the model FOLIO. The procedure continues as follows. Investment advisor login www.folioadvi.soi · .com ° ΙΑ to view the pending transaction order screen. The system displays a screen of transaction orders with all pending views of the logged-in user. ΙΑ examines the details of each transaction. The IAA decides on the appropriate action to present a trading order for each transaction. The actions that can be taken include: (1) release the transaction order to the next window for processing (2); cancel the parent order directly; (3) modify the transaction order to better meet the needs of users; printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs The IA approves the trade order by selecting the Approve radio button to be processed in the next window. The IA releases all approved trading orders by selecting the Processing Order Push button. In the case of those IA approved as "ready" parent orders, the system generates dependent portfolio trading orders in fTC — f ο 1 i 〇◦ rde 1. and related securities trading orders in the fft_secui.ityorder desktop To assign a trading order to the next window. Flag instructions are now placed in the next window. The processed transaction order is removed from the IA's review of the pending transaction order screen ... This paper size is applicable to China 11¾ standard (CNS) A4 specification (210 × 2ϋ ^-々 丨 -55- 200300535 A7) 5. Description of the invention (51) Example 1 OB: IA review pending transactions— 丨 A cancels pending transactions. In this example, 'investment adviser uses Foou ’. Advisor product reviews the pending transactions generated by the model manager's modifications to the model FOLIO. The investment advisor is releasing Review each automated trading order before the trading order goes to the next window. IA cancels any order that is not in their user ’s best rffi :. The investment advisor logs in to the advisor website. She views the model F0LI〇 changed The resulting transaction. For each transaction, she decides whether the transaction should be released, cancelled, modified, or retained in a pending state for further implementation. The user is an investment consultant. We assume that the system has been based on model F 〇LI〇 The changes made to the list of pending parent orders. Investment consultants log in to www.folioadvisor.com to view pending transaction orders Screen. The system displays a screen of transaction orders with pending views for all logged-in users. IA reviews the details of each transaction. IA decides the appropriate action to present a transaction order for each transaction. The actions that can be taken include: (1) release The transaction order will be processed in the next window. C 2) Cancel all parent orders (3) Modify the transaction order to better meet the user's requirements. (4) Leave the transaction order in the pending review state for further action.

The IA chooses to view the details of the pending transaction by selecting the details hyperlink under the approved transaction column. A screen showing transaction details appears. IA This paper size applies the Chinese National Standard (CMS) A4 specification (210: < 297 mm) $ -------- installed-(Please read the precautions on the back before filling in this page, · ιτ Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs, 200300535 A7 B7 V. Invention Description (52) (Please read the precautions on the back before filling this page) Select the Cancel Transaction Order Push button on the transaction order details screen. The system has been used Cancel mark the transaction and return the user to the screen for reviewing pending trade orders. Now mark the trade order properly with Cancel and will not be processed in the window. The system has reviewed the pending from IA The trade order screen removes canceled trade orders. Example 10C: IA Reviewing Pending Trades-IA Modifying Pending Trade Orders In this example, the investment consultant uses FOLI ◦ Advisor product to review the results of the model manager making changes to the model FOLIO Pending transactions. The investment advisor reviews each automatically generated transaction order before releasing the transaction order to the next window. Before placing the transaction order, the investment advisor The trading order is modified. The investment advisor logs in to the advisor's website. She reviews the transactions that result from the change of the model FOLIO. For each transaction, she decides whether the transaction should be released, cancelled, modified, or kept in a pending state as a further step The user is an investment consultant. It is printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs. We assume that the system has generated a list of pending transaction orders based on the modifications made to the model FOLIO. The investment advisor logs in www. F ο 1 i 〇advis ο 1 .. c 〇m. IA to view the transaction order screen in waiting area i. The system displays the screen of the transaction order with the pending view of all logged-in users. ΙΑ View the details of each transaction. ΙΑ is every-% Easy to decide the appropriate action for presenting the transaction order. The actions that can be taken include: · This paper size is applicable to the National Weekly Standard (CNS) 8-4 specification (21〇χ 297 mm) -57- 200300535 A7 B7-1 ... .... 5. Description of the invention (53) (1) Release the parent order to the next window for processing (2) Cancel the transaction order completely (please read the notes on the back first) (Fill in this page again) (3) Modify the transaction order to better meet the needs of the user (4) Leave the transaction order in the pending view of the action for further approval 〇ΙΑ Select by selecting the detailed hyperlink under the approved transaction column View the details of the pending transaction. The system displays a screen showing the transaction details. ΙΑ On the transaction order details screen, select: Modify transaction order push button. The system opens the subordinate portfolio modifier screen. The investment consultant uses the subordinate portfolio modifier to adjust The proposed trading order. When finished, the investment adviser chooses to place a trade push button. The system generates subordinate portfolio trading instructions in ftC_folio01.dei. And generates related securities trading instructions in the ftc_securityoi.der desktop, assigning trading instructions to the next window. Flag instructions are now placed in the next window. Processed trade orders are removed from the IA's View Pending Trade Orders screen. Example 1 1: IA checks the transactions executed in the user account Printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs The investment consultant uses the FOLIO advisor product to view the transactions that have recently been executed in her user account. The consultant checks that each transaction order is properly executed. The investment adviser logs in to the adviser website. She examines the recent transactions performed as a result of changes to the model FOLIO. She checked that each transaction was properly executed. For any partially fulfilled trading order, the investment consultant goes to the customer's account to determine if additional follow-up action is required. The user is an investment advisor. We assume that the paper size is in accordance with the Chinese National Standard (CNS) A4 specification (210X297 mm) -58-200300535 Α7 Β7 Printed by the Intellectual Property Bureau of the Ministry of Economic Affairs Employee Cooperatives V. Invention Description (54) Processed transaction order. The investment consultant logs in w w w. F ο 1 i 〇 a d v i s ο 1 .. c 〇 m. IA logs in to the system and navigates to the order status screen. IA reviews every transaction detail to verify that the transaction order is fully executed. Any partially executed trade orders are therefore marked by a flag. IA selects the transaction order hyperlink to receive additional details on transaction execution. The system displays the execution details of each fulfilled securities trading order and provides the reason for the outstanding trading order (such as stock untraded, market stop, etc.). If the consultant opens the customer's account and cooperates with the customer's subordinate investment group further, the consultant cooperates with the subordinate investment group using the existing IA website features to modify the cooperation. Any execution order placed by the investment advisor is generated and assigned to the next window. Viewing Pending Trade Orders Screen Referring to Figure 44, the screen 440 illustrated here contains summary details for each trading order that is awaiting review by the investment advisor. ΙΑ uses this screen as a starting point for viewing all pending transactions in all his / her customer accounts. For trading orders that do not require additional action, IA can release trading orders to the next window from the view of pending trading orders screen. Otherwise, the consultant can explore another customer's transaction order for further review, cancellation, or modification of the pending transaction order. Refer to Figure 4 5 for details of subordinate portfolio trading instructions. The screen 4 5 0 shown here is provided for the customer's paper size. Applicable to China National Standard (CNS) 8 4 specifications (210X297). (Please read the notes on the back first (Fill in this page again) Binding and ordering; # -59- 200300535 Printed by A7 B7, Consumer Cooperatives, Intellectual Property Bureau, Ministry of Economic Affairs 5. Details of the actual purchase / sale in the account description (55). From this screen, the advisor can choose to place 'Cancel' or modify the order. This screen is very similar to the details of approving the affiliate investment group Father Easy Order details. Investment consultants also use this screen to view warnings for individual transactions. This warning ranges from social exclusion to short-term profit. The system will support social and individual stock screens. As the system grows stronger, the system will support additional types of inspections (such as detailed tax ties, factory restrictions, asset portfolio restrictions, stock%, factory% restrictions, minimum% cash, etc.). Subordinate Portfolio Modifiers Referring to Figure 46, the screen 460 illustrated here provides the investment advisor with the ability to modify the buy and sell associated with pending subordinate portfolio trading orders. After completing the modification of the trading order, the advisor can place the trading order in the next window or save the trading order and return to the pending view list for further implementation. Transaction Order Status Referring to Figure 47, the screen 470 illustrated here enables the investment consultant to view details associated with his / her customer being processed a transaction. For each subordinate portfolio trading order, the IA can click to view the actual fulfillment details and determine whether and why the subordinate portfolio trading order has not been fully executed. If additional order execution is required, the IA can generate a corrective order by opening the customer's account. Figure 48 illustrates a sample report 480: Shareholding Summary, and Figure 49 illustrates that this paper size is applicable to the Chinese National Standard (CNS) A4 specification (210X 297 mm). Ϊ́ΐ ---- Ί, -1T ------ (Please read the notes on the back before filling this page) 60 200300535 Α7 Β7 V. Description of the invention (56) Sample report 490: Transaction summary. Approval In order to identify the transaction order as a result of the synchronous request, the existing transaction order type field on the customer approval needs to be modified. The transaction order type field in the approved transaction order summary section will be modified to show how the transaction order was generated. The system will use the contents of the ordersubtype field to determine how to place the trading order. The desktop shown below includes the files displayed for each 〇 d e 1 · s u b t y p e. order subtype file A Automatic investment D Dividend reinvestment T Loose transaction R, V, M, X Advance transaction C Start purchase S Synchronization Figure 50 illustrates a sample transaction order approval screen 500. Synchronization Request Manager The synchronization request manager 5 1 0 shown in Figure 51 provides a broker fee action with a list of synchronization requests generated during user input. Some embodiments of the synchronous request manager screen will provide view-only access, while other embodiments will enable broker fee actions to specify a window for processing synchronous requests. This paper size applies the Chinese National Standard (CNS) A4 specification (210X297 mm) (Please read the precautions on the back before filling out this page) ►Installation, \ Printed by the Consumer Consumption Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs-61-200300535 Α7 Β7 V. Description of the Invention (57) Synchronization Request Details (Please read the notes on the back before filling out this page) Figure 52 Synchronization Request Details Screen 520 provides the broker fee action with detailed information about a specific synchronization request. Some embodiments of the synchronization request manager screen will provide view-only access, while other embodiments will enable broker fee action to take action on the synchronization request. Warnings Whenever the following occurs, the system sends a warning to the investment advisor. • Model manager changes the model Whenever the model changes, the system sends a warning to any investment advisor who has users in the model. The system sends only one warning example per investment advisor. φ The automatic synchronization procedure fails when a trading order is generated. Printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs If the system encounters an error when trying to generate a synchronous transaction instruction in the customer's account, the system sends a warning email indicating the model name, customer name, customer account number, and reason for failure to the investment consultant. If a failure occurs in most of the user's accounts, the system will send a single warning email containing investment failure information to the investment adviser. Identifying linked subordinate portfolios In the example of purchasing a subordinate portfolio as an immediate subordinate portfolio, the system links each subordinate portfolio to an associated prepackaged subordinated portfolio. Each of the subordinate portfolios that were originally generated from the immediate purchase of the subordinate portfolio is linked back to the use of fTC_f〇H〇 desktop paper% paper size applicable Chinese standard (CNS) A4 specifications (2 ^ χ 297 public attack) —-- 62-200300535 A7 B7 V. Description of the invention (58) (Please read the notes on the back before filling out this page) p 1 · epackagedf ο 1 i 〇〇id of the subordinated portfolio. Similar thoughts are used to link managed subordinate portfolios to their model subordinate portfolios. Whenever the model manager starts to change in the model subordinate investment portfolio and wishes to “push” the change to each subscribed subordinate investment portfolio, the system uses this link to identify the affected subordinate portfolio. The subordinate portfolio / model subordinate portfolio that is subscribed is linked in a way that does not require a full desktop scan whenever the model manager chooses to update the subordinate portfolio to be subscribed. Similarly, the system can identify subordinate portfolio trading instructions linked to a particular investment advisor. The system uses this link to display all "pending review" transaction orders, and displays all executed transaction order details once the transaction has been processed. Again, the approach used to link IAs to appropriate transactions is used to illustrate performance. Resynchronize with the model subordinate portfolio. The printing system of the Employee Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs must set the target weight of the subordinate portfolio to the existing weight of the model subordinate portfolio, or set the target weight of the subordinate portfolio to the model subordinate. Target-weighted flexibility of portfolios. Whenever the model manager starts to implement the request to the subordinate portfolio with subscription of the model subordinate portfolio, the system generates a list of subordinate portfolios subscribed. The system applies rebalanced trading instructions to each affected subordinate portfolio to generate the associated buy and sell lists required to cause the embedded subordinate portfolio with the new model to be embedded. Before generating subordinate portfolio trading instructions and related securities trading instructions, the system checks each securities trading instruction ^ Paper size applies Chinese National Standard (CNS) A4 specification (2) OX 297 mm) ^--63- 200300535 A7 B7 V. Description of the invention (59 orders pass customer-defined restrictions. The system will support the following customer-defined restrictions (please read the notes on the back before filling out this page) Stock exclusions are based on social exclusion logic. If the model subordinate portfolio has any inclusion in The customer's social exclusion group in the social exclusion order, the system for the IA flag this transaction order for inspection. IA can choose to remove this stock from the subordinate portfolio transaction order or execute the transaction as it is. Social exclusion based on social exclusion Logic. If the model subordinate portfolio has any securities trading orders contained in that customer's social exclusion group, the system will flag this parent order for review by the IA. The IA may choose to remove this from the subordinate portfolio trading order. The stock may be traded as it is. Narrated by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs Although various embodiments are specifically illustrated and described herein, it should be understood that the amendments and changes of the present invention are covered by the above teachings and are included in the appended patent application scope clauses without departing from the spirit and scope of the present invention. For example, although several The examples describe the use of unique communication technologies and protocols between the various embodiments, but Renhe communication technology will be sufficient to transfer information about the manager's subordinate portfolio. Moreover, these examples should not be interpreted to limit the scope covered by the patent application The amendments and changes of the present invention are merely a description of possible changes. This paper size applies the Chinese National Standard (CNS) A4 specification (210X 297 mm) -64-

Claims (1)

200300535 A8 B8 C8 ____ D8 VI. Scope of patent application 1 1 · An electronic investment portfolio that enables managers to economically provide investment advice to the entire investment portfolio that are all engaged in marketable assets / liabilities (please read the back page first) Note: Please fill in this page again) Easy system for one or more investors or financial advisors with one or more investors, including: Graphical user interface with access to the manager, allowing the manager to choose one or more Multiple market tradable assets / liabilities are included in this model of market tradable assets / liabilities model portfolio, allowing the manager to combine each marketable tradable asset / liability for each selected one or more market tradable assets / liabilities in combination with a weight to define the The entire model portfolio of tradable assets / liabilities is related to each of the selected one or more market tradable assets / liabilities of the selected portfolio, and allows the manager to control access to one or more of the parent companies that are engaged in electronic investment portfolios. Model investment portfolios of investors or financial advisers with one or more investors; printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs for coupling to a computer One or more servers that process and maintain the model portfolio and present the model portfolio of marketable assets / liabilities to one or more recognized investors or financial advisers, the model The investment portfolio is recognized by the manager as a pre-set subordinate investment portfolio, which enables one or more assets to be sold through a system that forwards transactions in multiple market-available assets / liabilities to individual markets in each of the multiple market-available assets / liabilities. Approved investors or financial advisors can choose electronic trading as a whole; and _ a database coupled to the server, storing the manager's model portfolio and a sample of one or more approved investors or financial advisors . 2. The system according to item 1 of the scope of the patent application, wherein the model portfolio includes a tracking portfolio, which has a plural number of cities in the model portfolio ^ The paper size applies the Chinese National Standard (CNS) Ad Specification (21 × 29? Mm) ) -65- 200300535 A8 B8 C8 D8 6. Scope of Patent Application 2 (Please read the notes on the back before filling this page) The related investment amount of marketable asset / liability changes due to market price fluctuations, but the facts There is no real currency, as if the investment amount has been invested in the model portfolio generally allows managers to track the performance of the model portfolio. 3. The system according to item 2 of the scope of patent application, in which the database regularly receives market data. 4. The system according to item 3 of the scope of the patent application, in which according to the received market information, the database's database changes every model of marketable assets / liabilities in the investment portfolio and is reflected in the related portfolio of the tracking portfolio Investment amount 値. 5. The system according to item 1 of the scope of patent application, wherein the manager includes a professional money manager. '6. The system according to item 1 of the scope of patent application, wherein the manager includes the manager of the investment club. 7. The system according to item 1 of the scope of patent application, wherein the manager includes a financial manager. Printed by the Intellectual Property Bureau's Consumer Cooperatives of the Ministry of Economic Affairs 8. The system according to item 1 of the scope of patent application, where the graphical user interface includes a model portfolio that allows managers to issue model portfolios to one or more accredited investors or financial advisors User command. 9. According to the system of claim 1 of the patent application scope, one or more of the approved investors or financial advisors have included one or more investors or financial advisors who have paid the subscription service fee to the manager. 1 · According to the system of item 8 of the scope of patent application, the graphical user interface allows the administrator to choose the model dependent portfolio generated in advance, which can be applied to the county (CNS) (21GX297 公 酱 ~ 一 " · -66- 200300535 A8 B8 C8 D8 VI. Application for Patent Scope 3 Modification of the previously generated model dependent portfolio. 11. According to the method of applying for patent. Scope Item 10, the graphical user interface enables the administrator to issue modified models The investment portfolio is to one or more approved investors or financial advisers. 12. The device according to item 1 of the scope of patent application, in which the graphical user interface further enables the user to select the model portfolio generated in advance, which can be modified in advance Model portfolio and issue a modified model portfolio to one or more recognized investors or financial advisers with one or more recognized investors. 13. The device according to item 12 of the scope of patent application, where The server renews the existing portfolio of one or more approved investors based on the previous model portfolio version The balance is commensurate with the new model portfolio version recently released by the user. 14 · An electronic portfolio transaction that allows users to economically provide investment advice to the entire portfolio of marketable assets / liabilities A method for multiple investors, including: enabling users to select one or more market tradable assets / liabilities to be included in a model portfolio of such market tradable assets / liabilities; enabling users to define and market tradable assets / liabilities The entire model portfolio is related to each of the selected one or more market-available assets / liabilities; user-controlled access to one or more recognized investors or having assets from one or more investors The model investment portfolio of one or more investors' financial advisers; This Dow scale is applicable to China National Standard (CNS) Α4 specifications (210 fathers 297 males thin ~ 1 (please read the precautions on the back before filling this page) 1 · Printed by the Consumer Cooperative of the Intellectual Property Bureau of the Ministry of Economic Affairs-67- 200300535 A8 B8 C8 D8 Κ, patent application scope 4 Pack-(please first (Please read the notes on the back and fill in this page) Present a model portfolio of marketable assets / liabilities to one or more approved investors or financial advisors with one or more approved investors as pre-set Subordinated investment portfolio, which pre-sets the subordinated investment portfolio through a system that forwards transactions in multiple marketable assets / liabilities to each of the multiple markets Financial advisers with one or more approved investors can choose electronic trading as a whole; and a model portfolio of the storage manager and one or more approved investors or have one or more approved investments Sample of a person's financial adviser 0 1 5 According to the method of item i 4 of the scope of patent application, the user includes a professional money manager. 16 6. The method according to item 14 of the patent application, wherein the user includes the manager of the investment club. Line 17 • The method according to item 14 of the scope of patent application, wherein the user includes a financial adviser. Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs Financial adviser to recognized investors. 19 · The method according to item 14 of the scope of patent application, in which one or more recognized or accredited investors or financial advisers with one or more recognized investors include the investor or financial adviser who has paid the subscription service fee . 20, according to the method of item 14 of the scope of patent application, it also includes a self-model investment S to generate a tracking portfolio, which has a Chinese national standard (CNS ") A4 «^ 7210X297 mm that is applicable to the paper size of the model ) -68- 200300535 8 8 8 8 ABCD 6. Scope of patent application 5 (Please read the notes on the back before filling out this page) The related market price of the marketable assets / liabilities of the plural market in the portfolio is related to the fluctuations The investment amount is 値, but in fact there is no real currency, so that it seems that the investment amount has been invested in the model portfolio generally allows the manager to track the performance of the Wu-type portfolio. 21. The method according to item 14 of the scope of patent application further includes receiving market information on a regular basis. 22. The method according to item 21 of the scope of patent application, further includes a response to the received market information, and changes to track the related investment amount in the investment portfolio. 値 23. The method according to item 14 of the scope of patent application, further includes selection by the user. Pre-created model portfolios, modify pre-generated model portfolios, and issue modified model portfolios to one or more accredited investors or financial advisers with one or more accredited investors. 24. The method according to item 14 of the scope of patent application further includes rebalancing the existing investment portfolio of one or more approved investors based on the previous model portfolio version into a new model portfolio newly released by the user The versions are commensurate. Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs 25. — A method for plural users to provide investment advice to multiple investors engaged in electronic portfolio transactions of the entire portfolio of marketable assets / liabilities, including: . _ A model portfolio of one or more investor-selectable market-tradable assets / liabilities generated by a plurality of users; and a model portfolio of plural-market-asset-selectable assets / liabilities that investors can choose from; The entire portfolio of assets / liabilities The paper size applies to the Chinese National Standard (CNS) A4 specification (210X297 mm) -69- 200300535 ABCD VI. Multiple investors who apply for patent portfolio 6 electronic portfolio transactions. 26. The method according to item 25 of the patent application scope, wherein the steps produced include providing risk / reward characteristics and selecting from multiple investments that meet the risk / reward characteristics. 27. The method according to item 26 of the scope of patent application further includes selecting a majority model portfolio and specifying the proportion of each majority model portfolio for the investor to generate the majority model portfolio from the plural model portfolio for the investor. Gather your portfolio. 28. The method according to item 27 of the scope of patent application further includes weighting the individual assets / liabilities in the investment portfolio based on the weighted average of each individual asset / liability in each majority model portfolio. 29. The method according to item 27 of the scope of patent application further includes weighting the weighted average of each individual asset / liability weighting in each of the majority model portfolios using the weights specified by the dumper for each model portfolio. Aggregate individual assets / liabilities in a portfolio. • 3 0. The method according to item 27 of the scope of patent application further includes allocating funds to each of the one or more selection model portfolios at an amount that the investor can specify. 31. The method according to item 27 of the scope of patent application, further comprising executing one or more selected model portfolios based on the respective weighting of each asset / liability and the designated amount of the respective investor of each selected model portfolio. Every asset / liability transaction for each one. 32. The method according to item 27 of the scope of patent application, further comprising: According to the detailed description of the investors who generate multiple investment models to modify the model portfolio, the revised paper size applies the Chinese National Standard (CNS) A4 Regulation (210X297 mm) Equipment-(Please read the notes on the back before filling out this page) Order printed by the Intellectual Property Bureau's Consumer Cooperatives of the Ministry of Economic Affairs -70 200300535 A8 B8 C8 D8 VI. Application for patent scope 7 Multiple investors choose a model portfolio. (Please read the notes on the back before filling out this page) 33. According to the method of applying for patent. Scope Item 32, it also includes the amendments specified by the storage investor. 34. The method according to item 33 of the scope of patent application further includes informing investors of changes in one or more of the multiple investor selection model portfolios. 35. The method according to item 34 of the scope of patent application, further comprising rebalancing one or more plural investor selection model portfolios based on the change in one or more plural investor selection model portfolios. 36. The method according to item 35 of the scope of patent application further includes modifying one or more rebalanced investor selection model portfolios based on the stored investor modifications. 37. According to the method of item 35 of the scope of patent application, it further includes that if a plurality of excess securities are sold as recommended by one or more managers, the plurality of excess securities are transferred to a portfolio generated by another investor as a rebalance. a part. 38 • The method according to item 35 of the scope of patent application, including rebalancing by buying or selling investments. Printed by the Employees' Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs 39. According to the method in item 35 of the scope of patent application, it also includes rebalancing by only buying investments. 4 0. — A computer-readable medium storing instructions, when executed by one or more processors, enables one or more processors to perform so that the user can economically 'provide investment advice to all marketable traders Activities of one or more investors in the electronic portfolio of the entire portfolio of assets / liabilities. This activity includes: This standard is applicable to the Chinese National Standard (〇 奶) 8 4 specifications (210 parent 297 mm) ): -71 _ 200300535 A8 B8 C8 D8 holes, patent application patents 8 allows users to choose one or more market tradable assets / liabilities to be included in the market tradable assets / liabilities in the model portfolio; (Please read first Note on the back, please fill out this page again) Allow users to define one or more market tradable asset / liability weightings for each selection related to the entire model portfolio of market tradable assets / liabilities; user-controlled access Model investment portfolios to one or more recognized investors or financial advisers with one or more investors from among one or more investors; Presentation of marketable assets / liabilities The model portfolio is treated as a pre-set subordinate portfolio to one or more accredited investors or a financial adviser with one or more accredited investors. Transactions are forwarded to the individual market where assets / liabilities can be bought and sold in each of the multiple markets, allowing one or more accredited investors or financial advisers with one or more accredited investors to choose electronic trading as A whole; and a model investment portfolio of users and data samples of one or more approved investors or financial advisers with one or more approved investors. System 41 1. A device that enables users to economically provide investment advice to one or more investors of electronic portfolio transactions that are engaged in the entire portfolio of marketable assets / liabilities, including: Select one or more institutions whose market tradable assets / liabilities are included in the model portfolio of market tradable assets / liabilities; The entire paper size used to allow users to define and market tradable assets / liabilities applies the Chinese National Standard (CNS) A4 specification (210 X 297 mm) 72-200300535 A8 B8 C8 D8___ VI. Patent application scope 9 Model Each selected one or more market-receivable asset / liability weighting institutions related to the investment portfolio; (please read first, please note on the back before filling out this page) for user-controlled access to one or more Approved investors or institutions with model portfolios from one or more investors' financial advisors; model portfolios used to present market-tradable assets / liabilities to one or more A recognized investor or financial adviser with one or more recognized investors is deemed to have a pre-set subordinate portfolio, which is forwarded to each of the --- A system of individual markets where assets / liabilities can be traded in multiple markets, enabling one or more accredited investors or financial advisers with one or more accredited investors Choose electronic trading, easy as a whole institution; and a sample model of the user's model portfolio and one or more approved investors or a financial adviser with one or more approved investors mechanism. 42. A method for one or more financial advisers to economically provide investment advice to investors, including: Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs to provide one or more models of investment recommendations that present at least one financial adviser Investment portfolio, the one or more model portfolios include multiple investments and multiple target weightings combined with multiple investments;. _ Selecting individual investor's model portfolio and copying the model portfolio in individual investor accounts; and through the computer network Road in the single parent e-commerce model portfolio with a portfolio manager trading system. This paper size is in accordance with Chinese National Standard (CNS) A4 specifications (2) 0297 mm. 200300535 A8 B8 C8 __D8 VI. Patent application scope 10 43. According to the method of the 42nd patent application scope, it also includes automatic recovery (please first (Read the notes on the back and fill in this page again.) Make changes to multiple weighted or multiple investments in the model portfolio in individual investor accounts. 44. The method according to item 42 of the scope of patent application further includes rebalancing individual investor accounts based on changes. 45 · The method according to item 42 of the scope of patent application further includes weighting the investment in the individual investor's account to the plural weighting in the model portfolio. 46 · —A method for providing investment advice to a plurality of investors, including: providing a plurality of model investment portfolios of investments from a plurality of managers, and each model's investment model portfolio includes a plurality of recommended investments and a plurality of each recommended investment Associated weighting; Individual investors select one or more plural model portfolios, and copy one or more selected model portfolios in individual investor accounts to generate individual investor portfolios; employees of the Intellectual Property Bureau of the Ministry of Economic Affairs Consumption cooperatives print user-assigned weighted portfolios to one or more selected model portfolios, and allocate users' funds based on the assigned weights; and users electronically trade individual investor portfolios through computer networks. The method according to item 46 of the scope of patent application, further includes automatically copying each of one or more selected model portfolios of the individual investor account and adding a change of 棹. · 48. The method according to item 46 of the scope of patent application, including the basis of the revised -74- Chinese paper standard (CNS) A4 specification (210X297 mm) 200300535 A8 B8 C8 D8 Balance individual investor accounts. (Please read the notes on the back of # before filling in this purchase) 49. According to the method of applying for patents. Scope Item 46, it also includes weighting the investment in individual investor accounts to each one or more selected models Complex weighting of portfolios. 50. The method according to item 46 of the scope of the patent application, further includes when the individual investor buys a portfolio with a specific model dependent portfolio, the individual investor's The account number is debited. 5 1 · The method according to item 46 of the scope of patent application further includes the transfer of service fees to a specific manager combined with the specific model subordinate portfolio. 5 2. The method according to item 46 of the scope of patent application, further comprising when the individual investor sells a portfolio with a specific model dependent portfolio, the account of the individual investor is based on the service fee combined with the specific model dependent portfolio. Debited. 5 3. The method according to item 46 of the scope of patent application, further including the transfer of service fees to a specific manager combined with the specific model subordinate portfolio. Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs 5 4 • According to the method in Item 46 of the scope of patent application, the service fee includes the percentage of profit. 5 5. — An electronic marketplace used by consumers for investment advice for each electronic portfolio transaction in which marketable assets / liabilities can be bought and sold, including: enabling multiple advisers to electronically generate market access Model portfolio for buying and selling assets / liabilities; · Model portfolios produced by multiple consultants for electronic promotion are applicable to Chinese National Standards (€, $), 6 and 4 specifications (210 \ 297 mm) as standard: 210% '200300535 A8 B8 C8 D8 VI. Patent application scope 12 Pre-set investment portfolios that can be purchased by multiple consumers individually or in combination with each other, and then this result can be used by one or more consumer electronic transactions as marketable assets / liabilities A complete portfolio; and purchasing each of the plurality of model portfolios individually or in combination with one or more other model portfolios, showing the combined cost of each complex model portfolio that must be paid to the consultant who generated the model portfolio. 56. The method according to item 55 of the scope of patent application further includes deducting any service fee combined with the specific model investment portfolio purchased by the consumer from the funds allocated to the purchased investment portfolio, and forwarding the service fee to each Gu 57. The method according to item 55 of the scope of the patent application, further comprising the selection of one or more model portfolios by investors engaged in electronic investment and portfolio transactions, and allocating the amount of funds designated by the investors to one or more models Every one of the portfolio. 5 8. The method according to item 55 of the scope of the patent application, further including the implementation of the weighting of the marketable assets / liabilities of each market and the respective specified amounts of each selected model portfolio in each one or more Each of the selected .model portfolios can be traded in an individual market where assets / liabilities can be bought and sold. 5 9 • The method according to item 57 of the scope of patent application, further comprising: determining the one or more model investment portfolios based on the investor's detailed description of generating an investor to modify the model investment portfolio. 60. The method according to item 59 of the scope of application for patents further includes storage of the modification specified by the investor. This paper size is applicable to Chinese National Standard (CNS) A4 specification (21〇χ297mm)-~ -76-(Please read the notes on the back before filling this page) • ....... I · Order- ----- Line-Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs 200300535 Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs A8 B8 C8 _____ D8 VI. Patent Application Scope 13 61 · According to Item 60 of the Patent Application Scope The method further includes informing the investor of the modification made by the consultant in the model portfolio that the investor has purchased. 62. According to the method in item 61 of the scope of patent application, it also includes rebalancing the modified model of the investor according to the change. portfolio. 63. The method according to item 62 of the scope of patent application further includes a model portfolio modified by an investor that has been rebalanced according to the stored modifications. 64. The method according to item 62 of the scope of patent application further includes, if the consultant recommends selling a plurality of excess securities, moving the plurality of excess securities into an investment portfolio generated by another investor as part of the rebalancing. 65. The method according to item 62 of the scope of patent application, further comprising repurchasing the poor / debt balance by buying or selling towels. 66_ The method according to item 62 of the scope of patent application further includes rebalancing of assets / liabilities that can be bought and sold only by buying the market. 67 · The method according to item 55 of the scope of patent application, further includes when the individual investor buys a portfolio with a specific model dependent portfolio, the individual investment is based on the service fee combined with the specific model dependent portfolio. The account number is debited. 6 8 · The method according to item 67 of the scope of patent application further includes the transfer of service fees to a specific manager combined with the specific model subordinate portfolio. 69. The method according to item 55 of the scope of patent application, further includes when the individual investor sells a portfolio with a specific model subordinate portfolio, according to the service fee combined with the specific model portfolio, the individual investment account of the investor Debited. This paper size applies to China National Standards (CNS) A4 (210X297 mm) (Please read the precautions on the back before filling out this page). Packing · 1T line-77- 200300535 Printed by the Employees' Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs System A8 B8 C8 D8 々, patent application scope 14 70. According to the method of patent application scope item 69, the method also includes the transfer of service fees to a specific manager combined with the specific model subordinate portfolio. 7 1 · The method according to item 69 of the scope of patent application, wherein the service fee includes the service fee based on performance. 72.—A computer-readable medium storing instructions that, when executed by one or more processors, causes one or more processors to perform so that the user can complete the entire investment portfolio of market-tradeable assets / liabilities. Investment advice for electronic portfolio transactions. Consumers carry out activities that generate investment advice electronic markets. This activity includes: enabling multiple advisers to electronically generate model portfolios of market-available assets / liabilities; electronic promotion of model investments generated by multiple advisers : Portfolio as a pre-set investment portfolio that can be purchased by one or more consumers individually or in combination with each other 'and then this result can be used by one or more consumer electronic transactions as a complete portfolio of marketable assets / liabilities; and based on Choosing to purchase each of the plural model portfolios individually or in combination with one or more other model portfolios shows the fees that must be paid to each of the plural model portfolios that generate the model. 73. According to the computer-readable medium of item 72 of the scope of patent application, the activities further include deducting any service fee combined with the model investment portfolio purchased by the consumer from the funds allocated to the purchased investment portfolio, and dividing the service fee Forward to individual consultants. 74 · —An investment portfolio of electronic portfolio transactions that are engaged in the entire portfolio of marketable assets / liabilities. Consumers are advised to use it to generate investment capital. Paper standards are applicable to the Chinese National Standard (CNS) A4 specification (210X297 mm) ~ ： '一 ~' (Please read the precautions on the back before filling this page). Installation ·, 1T · Wire 200300535 A8 B8 C8 D8 VI. Application for Patent Scope 15 Negotiable electronic market device, this device contains: (Please first Read the notes on the reverse side and fill out this page) Institutions that enable multiple consultants to electronically generate model portfolios of market-tradeable assets / liabilities; use to promote electronically the model portfolios generated by multiple consultants as one or more Pre-set portfolios that consumers can purchase individually or in combination with each other 'and then this result can be used by one or more consumer electronic transactions as a complete portfolio of market-tradeable assets / liabilities; and One or more other model portfolios combined with the purchase of each of the plurality of model portfolios, showing the amount that must be paid to generate the model investment Institutional fee for each of the plural model portfolios of portfolio consultants. 7 5 · The device according to item 74 of the scope of the patent application, which also includes the funds used to allocate the investment portfolio to the purchase. Any service fee combined with the model portfolio purchased by the consumer is deducted from the funds, and Service fees are forwarded to the respective consultant's agency. Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs 7 6. A method for generating virtual markets for investment advice, including: improving commercialized investment advice tools, whereby investment consultants can provide investment advice; and electronic promotion of each A plurality of commoditized investment advice tools that have investment advice from specific investment advisers are given to consumers with multiple investment advice. 7 7 · The method according to item 76 of the scope of the patent application, furthermore, includes a plurality of commoditized investment recommendations along with the associated purchase price set by a specific investment consultant for each of the plurality of commoditized investment recommendation tools. 78. The method according to item 76 of the scope of patent application, further includes making each paper size applicable to the Chinese National Standard (CNS) A4 specification (210X297 mm)-79- 200300535 ABCD VI. Application scope of patent 16 Multiple investment suggestions Consumers can purchase one or more commercialized investment advice tools. 079 · According to the method in item 78 of the scope of patent application, it also includes collecting the purchase price of each commercialized consumer's recommended investment tools. 80 • The method according to item 79 of the scope of patent application, further includes forwarding the service fee to the investment consultant who generated the purchased commercial investment investment tool. 8 1 · The method according to item 76 of the scope of patent application, wherein the commercialized investment advice tool contains a model portfolio of investments. 82. The method according to the application of 'Patent No. 81', wherein the consumer includes investors who engage in portfolio transactions of the entire investment portfolio. — I (Please read the notes on the back before filling out this page) Order Printed by the Consumer Cooperatives of the Intellectual Property Bureau of the Ministry of Economic Affairs This paper applies the Chinese National Standard (CNS) specifications (210X297 mm) -80-