PFPS--Personal Financial Planning System

Kyle W. Kindle, Ross S. Cann, Michael R. Craig, and Thomas J. Martin

PFPS is an expert system developed over the last five years at Chase Lincoln First Bank, N.A., to provide objective, affordable expert financial advice to individuals with household incomes ranging from $25,000 to $150,000, and up. PFPS is an integrated personal financial planning system encompassing the following areas of financial expertise: investment planning; debt planning; retirement savings and settlement of retirement plans; education and other children’s goal funding; life insurance planning; disability insurance planning; budget recommendations; income tax planning and savings for achievement of miscellaneous major financial goals (purchase of house, extended travel, etc.). PFPS has supported the personal financial planning service of Chase Lincoln First in upstate New York since late 1987. The PFPS system components are implemented as an embedded system on an IBM 4300 series mainframe under VM/CMS and on a Symbolics 3600 series LISP processor. The Symbolics system is connected to the IBM mainframe in a master/slave relationship using an application -level protocol defined on top of RS232C. All of the inferencing and planning is done on the Symbolics 36xx using a system architecture based on a blackboard framework, an object-oriented database, and a goal-directed generate and-test search paradigm with extensive search-space pruning.

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