Intelligent Decision Support for Family Financial Planning

Authors:
Shijia Gao;Huaiqing Wang;Dongming Xu;Yingfeng Wang;Wenqi Shen;Siubun Yeung
Affiliations:
City University of Hong Kong and University of Queensland;City University of Hong Kong;University of Queensland;City University of Hong Kong;City University of Hong Kong;City University of Hong Kong
Venue:
HICSS '06 Proceedings of the 39th Annual Hawaii International Conference on System Sciences - Volume 02
Year:
2006

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Abstract

In today's financial markets characterized by constantly changing tax laws and increasingly complex transactions, the demand for family financial planning (FFP) services is rising dramatically. However, the current trend to develop advisory systems that focus mainly on the financial or investment side fails to consider the whole picture of FFP. Separating financial or investment advice from legal and accounting advice may result in conflicting advice or important omissions that could lead to users suffering financial loss. In this paper, we propose a conceptual model for FFP decision-making process, followed by a novel architecture to support an aggregated FFP decision process by utilizing intelligent-agents and Web-services technology. A prototype system for supporting FFP decision is presented to demonstrate the advances of the proposed Web-service multi-agents-based system architecture and business value.