FORM 2
THE PATENTS ACT, 1970
(39 of 1970)
&
THE PATENTS RULES, 2003
COMPLETE SPECIFICATION
(See section 10, rule 13)
1. Title of the invention: STANDALONE WEALTH MANAGEMENT SYSTEM
2. Applicant(s)
NAME NATIONALITY ADDRESS
TATA CONSULTANCY Indian Nirmal Building, 9th Floor, Nariman Point
SERVICES LIMITED Mumbai-400021, Maharashtra, India
3. Preamble to the description
COMPLETE SPECIFICATION
The following specification particularly describes the invention and the manner in which it is to be performed.

TECHNICAL FIELD
The present subject matter relates, in general, to wealth management and, in
particular, to devices and methods for providing standalone wealth management services.
BACKGROUND
Computers and networks in general, and the Internet in particular, have at least
partially changed how various individuals, business owners and enterprises manage their finances. For instance, an individual with an Internet connection can check balances in their savings accounts, credit cards, mortgages, automobile loans, and the like. Additionally, an individual can transfer money from one account to another account with a few keystrokes and mouse clicks. In addition, individuals can research companies online and make educated decisions regarding which companies to invest in. Further, individuals can use websites to trade securities, including stocks, mutual funds, index funds, and other financial instruments. For instance, an individual may log onto a website and purchase shares of stock rather than using a stock broker. Thus, managing finances has become more efficient with the advent of computing and the Internet.
Financial management is a large component of the economy, accounting for
billions of dollars in taxable revenue each year. Many individuals depend upon various market investment options, such as mutual funds to manage their long-term finances, as mutual funds can diversify their portfolio and are managed by financial experts. Typically, for a certain type of investment, financial advisors or wealth managers attempt to maximize possible return while minimizing risk, by providing financial or investment advisory services. Providing such investment services to customers is generally known as wealth management that incorporates financial planning, investment portfolio management and a number of aggregated financial services.
Various individuals, business owners and families who desire assistance
related to wealth management call upon wealth managers to coordinate retail banking, estate planning, legal resources, tax professionals and investment management. Wealth managers may be an independent certified financial planner, a customer relationship management professional, masters in business administration, chartered strategic wealth professional,

Chartered Financial Analyst (CFA) or any credentialed professional money manager who
works to enhance the income, growth and tax favored treatment of long-term investors.
Generally, wealth managers use wealth management systems to provide
financial services to their customers. Such wealth management systems are typically online systems, i.e., the wealth managers use various client devices, such as laptops, personal computers, and personal digital assistants for connecting to a central server via a communication network, such as internet and LAN, for accessing the wealth management systems for providing wealth management services to the customers.
SUMMARY
This summary is provided to introduce concepts related to standalone wealth
management. These concepts are further described below in the detailed description. This
summary is not intended to identify essential features of the claimed subject matter nor is it
intended for use in determining or limiting the scope of the claimed subject matter.
Methods and systems for standalone wealth management are described. In one
implementation, a standalone wealth management method comprises extracting customer data corresponding to one or more customers selectively from a central repository into a local repository of a device, when the device is connected to a server. Further, the method comprises modifying the customer data in the local repository, when the device is disconnected from the server. Furthermore, the method comprises synchronizing the customer data in the central repository with the modified customer data in the local repository, when the device is reconnected to the server.
BRIEF DESCRIPTION OF THE DRAWINGS
The detailed description is provided with reference to the accompanying
figures. In the figures, the left-most digit(s) of a reference number identifies the figure in which the reference number first appears. The same numbers are used throughout the drawings to reference like features and components.
Fig. 1 illustrates a network implementation of a wealth management system, in
accordance with an embodiment of the present subject matter.

Fig. 2 illustrates components of the device and the server, according to an
embodiment of the present subject matter.
Fig.3 illustrates a method for standalone wealth management, accordance to
another embodiment of the present subject matter.
DETAILED DESCRIPTION
Conventionally, wealth managers provide wealth management services to their
customers using a wealth management system. The wealth management system may be understood as a system for providing integrated and comprehensive solutions, such as banking solutions, customer relationship management solutions, maintenance of customer portfolio and performance of financial planning, for individuals, business owners and enterprises. For example, banks or financial institutions use the wealth management system to provide banking or financial advisory services to the customers. The wealth management systems maintain customers profile including customer data, such as KYC (know your customer) details and transaction history of the customers in a central repository or database associated with the central server. In addition to the customer data, system parameter data, such as current market rates of shares, product positions, current rate of interest on investment products etc., is also maintained in the central repository.
Such conventional wealth management system is typically a wealth
management application hosted on a central server. The wealth managers may use a plurality of client devices, such as laptops, personal computers, and personal digital assistants as an interface to interact with the wealth management application via a network connection, such as LAN or Internet, for accessing the customer data and the system parameter data stored in the centra] repository to provide wealth management services to the customers. Therefore, in conventional wealth management systems, the client devices should remain connected to the central server for providing wealth management services to the customers. In absence of the network connectivity to the central server, the client devices do not have a provision of providing access to the wealth management application.
In accordance with the present subject matter, systems and methods for
standalone wealth management are described for providing wealth management services. In one embodiment, the wealth management system comprises a central server (hereinafter

referred as server) and a plurality of wealth management client devices (hereinafter referred as devices) that enable providing wealth management services to customers independent of the devices' connectivity to the server. The devices are configured to perform all the functionality related to wealth management services even in a state of being disconnected from the server. Thus, the devices may act as standalone wealth management systems by themselves and are not mere interfaces to the wealth management systems. This implies that wealth managers need not necessarily be connected to a network, such as a LAN. in the premise of a banking or financial institution. This provides the wealth manager the flexibility and mobility to meet customers at any convenient location, such as a client premises like residence or office of a client. Examples of such devices include but are not restricted to laptops, personal computers, and personal digital assistants and smart phones.
In one implementation, the devices are capable of operating in both an online
mode and an offline mode, i.e., in the presence and absence of the network connectivity to the
server, for providing wealth management services to customers. In the online mode, the
devices communicate with the server for accessing customer data pertaining to customers and
various system parameters, in order to provide wealth management services to the customers.
The customer data may include, for example, names of the customers, KYC (know your
customer) details, and various business transactions executed for the customers pre-stored in
an internal or an external repository (hereinafter referred as central repository) associated with
the server. The system parameter data include but not limited to current market rates of
shares, product positions, current rate of interest on investment products etc.
In the offline mode, the devices operate independently, i.e., without being
connected to the server, and may be configured to perform al) the functionality related to wealth management services provided during the online mode. In an implementation, to operate the device in the offline mode for servicing the customers, the devices extract the customer data corresponding to one or more customers from among a plurality of customers, based on the selection or preferences of a wealth manager using the device. For example, a wealth manager, hereinafter interchangeably referred to a user, may select a customer A and a customer B for obtaining the customer data corresponding to the customer A and the customer B. where the obtained customer data is used for providing wealth management services to the customer A and the customer B. In said example, the device extracts the customer data from

the central repository associated with the server and stores the extracted data within a local repository of the device. It will be appreciated that different users in banking or financial institutions cater to different customers for providing wealth management services. In other words, no user will typically serve all the customers. Accordingly, the device may be configured to selectively extract the customer data of the customer associated with the user of the device. In one embodiment, the server is configured to allow the standalone device to extract customer data only for the customers it is authorized to. Thus, the server is configured to lock the customers corresponding to the user who may extract the customer data, in order to prevent any other user from extracting the same customer data.
Subsequent to downloading the customer data, the device may be switched to
the offline mode. The devices, henceforth, can operate independently without the need of connecting to the server for servicing the one or more customers. It is to be understood that the user may modify the extracted customer data, while servicing the one or more customers. The modification may include, for example, adding new customer data, deleting existing customer data, and/or editing the customer data. For example, the user may execute various transactions for the one or more customers. For instance, consider a situation where a user visits a customer at the customer's premises and retrieves customer assets from the customer data. The customer assets include previous transactions describing recent investments made by the customer. Based on the customer assets, the user executes new transactions for the customer as a part of customer portfolio alignment. Such new transactions may be placing an order on behalf of the customer to buy or sell one or more financial instruments, in order to provide maximum returns for the customer. Such new transactions executed for the customer are subsequently added in the extracted customer data.
The modified customer data is thereafter synchronized with the customer data
stored in the central repository, when the device is reconnected to the server, i.e., when the device is switched to the online mode. The synchronization of the customer data upon switching from the offline mode to the online mode maintains the data consistency. The synchronization of the customer data upon switching the device from the online mode to the offline mode is referred as offline to online synchronization.
In one implementation, synchronization is performed by modifying the
customer data in the server by executing the same transactions, which were performed in the

device, resulting in the modifications to the customer data in the device. In one example, if a series of transactions has been executed in the offline mode, the synchronization is performed by re-executing the transactions in an order, in which the transactions have been executed in the offline mode. Such synchronization of the modified data in the same order maintains the data integrity. The server receives such modified customer data corresponding to the one or more customers. Upon receiving the modified customer data, the server updates the customer data in the central repository with the modified customer data received from the device. In an embodiment, the server unlocks the locked customers subsequent to synchronizing the customer data.
In addition to the synchronization of the customer data from the offline mode
to the online mode, the synchronization of system parameters is performed from the online mode to the offline mode. In one implementation, the system parameters in the server are monitored regularly, for example, at the end of each day or at certain time intervals during the day, to detect change in system parameters. If a change in any of the system parameters is detected, the changed or updated system parameters are extracted. The extracted updated system parameters may be sent to the device, when the device is connected to the server. Alternatively, the extracted updated system parameters are saved in the repository associated with the server, and may be extracted by the device, when the device is connected to the server. The system parameters in the device, upon receiving or extracting such updated system parameters, are updated in order to maintain system parameters consistency. Examples of system parameters include but not limited to current market rates of shares, product positions, current rate of interest on investment products etc.
In addition to the system parameters, the production components in the server
are monitored to detect change in any of the production components. The change may include, for example, a new patch installed in the server. Upon detection of such a change, the server may send an alert to the device to upgrade the production components of the device, with the changed or upgraded production components. The device may thereafter upgrade the production components upon receiving the alert.
The manner in which standalone wealth management is carried out is
explained further in conjunction with Figs. 1 to 3. While aspects of systems and methods may be implemented in any number of different computing systems, environments, and/or

configurations, the embodiments are described in the context of the following exemplary system architecture(s).
Fig. 1 illustrates a network implementation of a wealth management system
100, in accordance with an embodiment of the present subject matter. The wealth management system 100 is implemented for providing integrated and comprehensive solutions, such as banking solutions, customer relationship management solutions, maintaining customer portfolio and performing financial planning, for individuals, business owners and enterprises and has been referred to as the system 100 hereinafter to maintain readability. In one implementation, the system 100 comprises a plurality of devices 102-1, 102-2, 102-3.... 102-N are connected, through a network 104 to a server 106. The devices 102-1, 102-2. 102-3,... 102-N are collectively referred to as the devices 102 and individually referred to as a device 102. The devices 102 and the server 106 may be implemented as any of a variety of conventional computing devices, including, for example, servers, a desktop PC, a notebook or portable computer, a workstation, a mainframe computer, and an internet appliance.
in one implementation, the server 106 may be a central server having a server
wealth management application hosted therein, and the device 102 may be a client device
having a client wealth management application installed therein for providing wealth
management solutions, such as financial planning, banking solutions, etc.
The devices 102 are connected to the server 106 over the network 104 through
one or more communication links. The communication links between the devices 102 and the server 106 are enabled through a desired form of communication, for example, via dial-up modem connections, cable links, digital subscriber lines (DSL), wireless or satellite links, or any other suitable form of communication.
The network 104 may be a wireless network, a wired network, or a
combination thereof. The network 104 can also be an individual network or a collection of many such individual networks, interconnected with each other and functioning as a single large network, e.g., the Internet or an intranet. The network 104 can be implemented as one of the different types of networks, such as intranet, local area network (LAN), wide area network (WAN), the internet, and such. The network 104 may either be a dedicated network or a shared network, which represents an association of the different types of networks that use a

variety of protocols, for example, Hypertext Transfer Protocol (HTTP), Transmission Control Protocol/Internet Protocol (TCP/IP), etc., to communicate with each other. Further, the network 104 may include network devices, such as network switches, hubs, routers, Host Bus Adapters (HBAs), for providing a link between the devices 102 and the server 106. The network devices within the network 104 may interact with the devices 102 and the server 106 through the communication links. The users, such as wealth managers and financial advisors may interact through the devices 102 with the server ! 02.
In one example, the network environment may comprise a network 104, such
as a company network, including thousands of devices 102, such as office personal computers, laptops and various servers 106. such as blade servers, and other computing devices connected over the network 104. In another implementation, the network 104 can be an enterprise network with a limited number of devices 102, such as personal computers and laptops, connected over the network 104, to the server 106.
In an implementation, the devices 102 are capable of operating in both an
online mode and an offline mode, i.e., in the presence or absence of the network connectivity
to the server 106, for providing wealth management services to customers. The online mode
may be understood as a mode of operation during which the device 102 is connected to the
server 106. via the network connection 104, and the offline mode may be understood as a
mode of operation during which the device 102 is disconnected from the server 106.
During the online mode, the devices 102 communicate with the server 106, via
the network connection 104, The device 102 may access customer data corresponding to a plurality of customers pre-stored in a central repository associated with the server 106. The central repository may be understood as an internal or an external repository associated with the server 106 containing customer data. The customer data may include know your customers (KYC) details, a transaction history of the customers, etc. The users, such as wealth managers or financial advisors may access the customer data stored in the central repository in order to provide wealth management services to the customers.
In one implementation, to operate the device 102 in the offline mode, customer
data corresponding to one or more customers may be extracted from the central repository and stored within a local repository of the device 102, when the device is connected to the server 106. In operation, the device 102 extracts the customer data corresponding to the one or more

customers, based on selection or preferences of the user, i.e., the user may be provided with a flexibility to choose the customers for extracting the customer data corresponding to them from the central repository 106.
Subsequent to extracting the customer data, the device 102 may be
disconnected from the server 106, i.e., the device 102 may be switched to the offline mode. The device 102 is thereafter used as a standalone device, i.e., a device 102 that is capable of operating on its own to perform functions relating to wealth management. The user may therefore carry the device 102 at any convenient place for servicing the customers, irrespective of presence or absence of the network connectivity. For example, the user is provided with flexibility and mobility to meet customers at places like client premises or office of a client.
In the offline mode, the user may modify the customer data. In an
implementation, the customer data is modified by executing a plurality of transactions for the customers, while servicing the customers. The modifications made to the customer data in the offline mode may be synchronized with the customer data in the central repository, when the device 102 is reconnected to the server 106. In an implementation, a device 102, for example the device 102-1, and the server 106 comprise a device synchronization module 108-1 and a server synchronization module 110 respectively, for collectively synchronizing the customer data in the central repository with the modified customer data in the local repository. Each of the device 102-1, 102-2... 102-N is provided with a device synchronization module 108-1, 108-2 ...108-N, collectively referred to as device synchronization module 108. In addition to synchronizing the customer data, the device synchronization module 108 and the server synchronization module 110 synchronizes system parameters in the local repository with the system parameters in the central repository.
Fig. 2 illustrates components of the device 102 and the server 106, according
to an embodiment of the present subject matter. In said embodiment, the device 102 includes
one or more device processor(s) 202, a device memory 204 coupled to the device processor
202, and device interface(s) 206. The server 106 includes one or more server processor(s)
230, a server memory 232 coupled to the server processor 230. and server interface(s) 234.
The device processor 202 and the server processor 230 can be a single
processing unit or a number of units, all of which could include multiple computing units. The

device processor 202 and the server processor 230 may be implemented as one or more
microprocessors, microcomputers, microcontrollers, digital signal processors, central
processing units, state machines, logic circuitries, and/or any devices that manipulate signals
based on operational instructions. Among other capabilities, the device processor 202 and the
server processor 230 are configured to fetch and execute computer-readable instructions and
data stored in the device memory 204 and the server memory 232 respectively.
The device interfaces 206 and the server interfaces 234 may include a variety
of software and hardware interfaces, for example, interface for peripheral device(s) such as a keyboard, a mouse, an external memory, a printer, etc. Further, the device interfaces 206 and the server interfaces 234 may enable the device 102 and the server 106 to communicate with other computing devices, such as web servers and external databases. The device interfaces 206 and the server interfaces 234 may facilitate multiple communications within a wide variety of protocols and networks, such as a network, including wired networks, e.g., LAN, cable, etc., and wireless networks, e.g., WLAN, cellular, satellite, etc. The device interfaces 206 and the server interfaces 234 may include one or more ports to allow communication between the device 102 and the server 106,
The device memory 204 and the server memory 232 may include any
computer-readable medium known in the art including, for example, volatile memory such as static random access memory (SRAM) and dynamic random access memory- (DRAM), and/or non-volatile memory, such as read only memory (ROM), erasable programmable ROM, flash memories, hard disks, optica! disks, and magnetic tapes. The device memory 204 further includes device module(s) 208 and device data 210, and the server memory 232 further includes server module(s) 236 and server data 238.
The device modules 208 and the server modules 236 include routines,
programs, objects, components, data structures, etc., which perform particular tasks or implement particular abstract data types. In one implementation, the device module(s) 208 include a device security module 212, a device extraction module 214, a device synchronization module 108, a device upgradation module 216, and device other module(s) 218. In said implementation, the server module(s) 236 include a server security module 240, a server synchronization module 110, a server upgradation module 242, and the server other module(s) 244. The device other module(s) 218 and the server other module(s) 244 may

include programs or coded instructions that supplement applications and functions, for
example, programs in the operating system of the device 102 and the server 106.
The device data 210 and the server data 238, amongst other things, serves as
repositories for storing data processed, received, and generated by one or more of the device
module(s) 208 and the server module(s) 236. The device data 210 includes device security
data 220, device customer data 222, device system parameters 224, and device other data 228.
The server data 238 includes server security data 246, server customer data 248, server system
parameters 250, upgradation data 252, and server other data 254. The device other data 228
and the server other data 254 includes data generated as a result of the execution of one or
more modules in the device other module(s) 218 and the server other modules 244.
In an implementation, a device 102 may be operated in an online mode or an
offline mode for providing wealth management services to the customers. The wealth management services may include, for example, providing financial planning and investment solutions. For operating the device 102 in the online mode, the device 102 may be connected to the server 106 upon receiving login credentials from a user, such as a financial advisor and a wealth manager. The login credentials may include, for example, a user identifier (ID) and a password. Based on the login credentials, the user authentication is performed. Connectivity of the device 102 to the server 106 is either established or restricted, based on the user authentication. For example, connectivity of the device 102 to the server 106 is established, if the user is authenticated at the server 106. On the other hand, if the user authentication fails, connectivity of the device 102 to the server 106 is restricted. In operation, the server security module 240 receives the login credentials from the user and authenticates the user by comparing the login credentials provided by the user with pre-stored login credentials in the server security data 246.
Additionally, another user authentication may also be performed at the device
102 end, for example, at the time of logging into the device 102. The user is allowed to use the device 102. once the user is authenticated. For example, the device security module 212 may be configured to receive the login credentials from the user and authenticates the user by comparing the login credentials provided by the user with the pre-stored login credentials in the device security data 220. If the login credentials provided by the user matches with the pre-stored login credentials in the device security data 220, user is authenticated and access to

the device 102 is allowed. On the other hand, if the login credentials provided by the user does not match with the pre-stored login credentials in the device security data 220, the device security module 212 communicates with the server security module 240 to determine whether the login credentials provided by the user matches with the pre-stored login credentials in a server repository, namely, the server security data 246. If the determination yields no match, user access to the device 102 is restricted. On the other hand, if the determination yields a match, the device security module 212 downloads security data including login credentials corresponding to the user in an encrypted form from the server security data 246 into the device security data 220. The downloaded login credentials may be henceforth used for authenticating the user at the device 102 end.
For example, when another user, i.e., the user other than the authorized user of
the device 102, logs-in to the device 102, the login credentials provided by such other user may be different from the pre-stored login credentials in the device security data 220. Therefore, the login credentials corresponding to the other user may be downloaded from the server security data 246 into the device security data 220 for authenticating the other user on the device 102.
When the user of the device 102 is authenticated at the server end, or both at
the device and the server end, the device 102 may be operated in the online mode for providing wealth management services to the customers. In the online mode, the user may access the customer data corresponding to a plurality of customers stored within a central repository, namely, the server customer data 248 associated with the server 106. Further, the user may modify the customer data stored in the server customer data 248, while servicing the customers. For example, the user may execute a plurality of transaction on the customer data. Details pertaining to such transactions are stored in the server customer data 248. The server customer data 248 may contain the customer data in an organized format, for example, customer data corresponding to various customers may be stored separately, for example, in separate tables. Such customer data is identified based on personal details of the customers associated therewith, such as customers' identifier (ID) and/or names of the customers. In order to operate the device 102 in the online mode, the device 102 is required to remain connected to the server 106, via the network connection 104.

In another implementation, the device 102 may be operated in the offline
mode. For example, when the device 102 is required to be carried to a place where network
connectivity to the server 106 may not be established, the device 102 may be switched from
the online mode to the offline mode. For operating the device 102 in the offline mode, the
device extraction module 214 extract customer data corresponding to a plurality of customers
from the server customer data 248, when the device 102 is in online mode.
In an implementation, the extraction of the customer data is selective, i.e.,
customer data corresponding to one or more customers from among a plurality of customer is extracted, based on selection or preferences of the user. As mentioned previously, the device 102 may comprises a wealth management application installed therein. The wealth management application includes a Graphical User Interface (GUI). The user may use the GUI to select one or more customers from among a plurality of customer in order to obtain customer data corresponding to the selected customers. In operation, the device extraction module 214 extracts the customer data for the selected customer from the server customer data 248, when the device 102 is connected to the server 106, i.e., the device 102 is in online mode. The device extraction module 214 stores the extracted customer data in a local repository, namely, the device customer data 222 of the device 102 that can be used by the user for providing wealth management services to the selected customers. In one embodiment, the server 106 may maintain an authorization list within the server security data 246. Such authorization list may contain the users, such as wealth managers and one or more customer associated with the users. In said embodiment, the server security module 240 is configured to allow the user to extract customer data only for the customers associated with the user. For example, extraction may not be allowed, if the user is trying to extract customer data corresponding to the customer, which is not associated with the user, as indicated by the authorization list.
Subsequent to extraction of the customer data, the device 102 may be
disconnected from the server 106. In other words, the device 102 may be switched to the offline mode. The device 102 may be thereafter operated independent of the server 106 for servicing the selected customers, i.e., the device 102 may be carried at any place without being dependent on the connectivity to the server 106. The user, for example, may visit the

customer premises to provide wealth management services to the customers, thereby enhancing the customer service experience.
While providing wealth management services, the user may modify the
extracted customer data stored in the device customer data 222. Such modification may include adding new customer data, editing already existing customer data, and deleting the customer data. In an implementation, the modification includes executing a plurality of transactions for the customers on the extracted customer data. An order in which the plurality of transactions is executed or performed by the user is referred as an order of execution, hereinafter.
The modifications made to the customer data stored within the device customer
data 222 during the offline mode, may be later synchronized with the customer data present in
the server customer data 248, when the device 102 is reconnected to the server 106, via the
network connection 104. The synchronization maintains the data consistency among the
device customer data 222 and the server customer data 248. In operation, the device
synchronization module 108 sends the modified data customer data to the server 106, when
the device 102 is reconnected to the server 106. For example, the device synchronization
module 1 OS sends the modified customer data, for example, by re-executing the plurality of
transactions executed during the offline mode. In an implementation, the device
synchronization module 108 maintains a record of all the plurality of transactions that occur
in the offline mode and re-executes the transactions upon being coupled to the server 106 to
effect the same change in data in the repository of the server 106 in the order of execution, in
order to maintain the data integrity. For example, a plurality of transactions, i.e., a transaction
A. a transaction B, a transaction C, a transaction D and a transaction E are performed in the
offline mode in an order {B, A, C, D, E/. Such plurality of transactions are re-executed in the
same order {B, A, C, D, E,} when the device 102 is reconnected to the server 106.
Once the modified customer data is sent to the server 106, the server
synchronization module 110 receives the modified customer data. Upon receiving the modified customer data, the server synchronization module 110 locates the one or more customer corresponding to which the modified customer data is received. Thereafter, the server synchronization module 110 updates the customer data stored in the server customer data 248 with the modified customer data received from the device customer data 222. In an

implementation, the server synchronization module 110 updates the customer data in the server customer data 248 in an order in which the modified customer data is received from the device 102.
Accordingly, the device synchronization modules 108 and the server
synchronization module 110 collaboratively synchronizes the customer data in the server customer data 248 with the modified customer data in the device customer data 222 in order to maintain data consistency and to ensure that the customer data within the server customer data corresponds to most recent and accurate customer data.
Further, the device synchronization modules 108 and the server
synchronization module 110 collaboratively synchronize system parameters in the device 102 with system parameters in the server 10o. In operation, the server synchronization module 110 monitors the system parameters of the server 106 at a pre-determined time period, for example, at the end of each day or at certain regular time intervals during the day. Based on the monitoring of the system parameters, the server synchronization module 110 detects the change in the system parameters, if any.
In one implementation, upon detecting the change in the system parameters,
the server synchronization module 110 generates a file containing the updated system parameters and stores the file in a repository, namely, the server parameters 250. In said implementation, the device synchronization module 108 retrieves the file containing the updated system parameters from the server parameters 250. Upon retrieval, the device synchronization module 108 updates the system parameters of the device 102 with the retrieved system parameters, thereby synchronizing the system parameters of the device 102 with the system parameters in the server 106. The device synchronization module 108 may store the received updated system parameters in a repository, namely, the device parameters 224.
In another implementation, upon detecting a change in the system parameters,
the server synchronization module 110 sends the updated system parameters to the device 102. In said implementation, the device synchronization module 108 of the device 102 receives the updated system parameters, and accordingly updates the system parameters of the device 102 with the received system parameters, thereby synchronizing the system parameters of the device 102 with the system parameters of the server 106. In said implementation, the

server synchronization module 110 may store the sent updated system parameters in the server parameters 250, and the device synchronization module 108 may store the received updated system parameters in the device parameters 224.
In an implementation, various production components including the software
and hardware components of the server 106 may be upgraded along with time, depending
upon various functional and operational requirements. In case, any of the production
components of the server 106 is upgraded. Such upgrading is also performed in the device
102. For example, if a new patch is installed in the server 106, such patch is also installed on
the device 102. In said implementation, the server upgradation module 242 detects
upgradation in the production components, if any. Upon detecting upgradation in any of the
production components, the server upgradation module 242 communicates information
relating to such upgrading to the device 102, for example, in form of an alert message. The
server upgradation module 242 may store the information about the upgrading (hereinafter
referred as upgrading information) within a repository, namely, upgradation data 252
associated with the server 106. Additionally, if the upgradation is in a software component,
such upgradation may be sent to the device 102 in form of software updates.
Upon receiving the upgrading information, the production components of the
device 102 may be upgraded, based on the upgrading information. If the upgradation is
detected in the software components, the device upgradation module 216 receives the
software updates and upgrades the software components of the device 102 accordingly.
Fig. 3 illustrates an exemplary method 300 for standalone wealth management,
in accordance with an embodiment of the present subject matter. The exemplary method may
be described in the general context of computer executable instructions. Generally, computer
executable instructions can include routines, programs, objects, components, data structures,
procedures, modules, functions, etc., that perform particular functions or implement particular
abstract data types. The method may also be practiced in a distributed computing environment
where functions are performed by remote processing devices that are linked through a
communications network. In a distributed computing environment, computer executable
instructions may be located in both local and remote computer storage media, including
memory storage devices.

The order in which the methods are described is not intended to be construed
as a limitation, and any number of the described method blocks can be combined in any order to implement the methods, or alternative methods. Additionally, individual blocks may be deleted from the methods without deporting from the spirit and scope of the subject matter described herein. Furthermore, the methods can be implemented in any suitable hardware, software, firmware, or combination thereof.
Referring to Fig. 3, the method 300 initiates at block 302, where a device 102
is connected to a server, upon authenticating a user, such as a wealth manager or a financial
advisor. In an implementation, login credentials from the user are received. The login
credentials may include, for example, a user identifier (ID) and a password. Based on the
login credentials, the user authentication is performed, for example, by comparing the login
credentials provided by the user with a pre-stored login credentials. In an implementation, the
device security module 212 receives login credentials from the user and authenticates the user
based on the pre-stored login credentials, for example, the login credentials pre-stored within
the server. The connection to the server is established, when the user is authenticated.
At block 304, updated system parameters are obtained from the server, when
the device is in a connected state, i.e., the device 102 is connected to the server. In operation,
the server detects change in system parameters of the server, if any. In one implementation,
upon detecting the change in the system parameters, the server may periodically generate a
file containing the updated system parameters, say, at the end of each day or at regular
intervals during the day. The device 102 retrieves such file containing the updated system
parameters, and accordingly synchronizes the system parameters of the device 102 with the
updated system parameters. In another implementation, upon detecting the change in the
system parameters, the server sends the updated system parameters to the device 102. A
device synchronization module 108 within the device 102 receives the updated system
parameters, and accordingly updates the system parameters of the device 102 with the
received system parameters. The synchronization of the system parameters may be performed
either automatically by the device 102, or may be manually initiated by the user.
At block 306, customer data corresponding to one or more selected customers
is extracted from a central repository associated with the server and stored into a local
repository of the device 102. In an implementation, the user may select the one or more

customers from among a pluraJity of customers and obtain customer data corresponding to
such customers. In operation, the device extraction module 212 extracts the customer data for
the selected customer from the central repository. The device extraction module 212 stores the
extracted customer data as the device customer data 222 of the device 102 that can be used by
the user for providing wealth management services to the one or more customers.
At block 308, the extracted customer data stored in the local repository of the
device may be modified by the user, for example, while providing wealth management services to the customers in a disconnected state, i.e., when the device 102 is disconnected from the server. The modification may include adding new customer data, editing the existing customer data in the local repository, or deleting the customer data in the local repository, i.e., the device customer data 222. In an implementation, the user may access and modify the customer data stored in the device customer data 222, while providing wealth management services to the customers. Since, the customer data required for providing the wealth management services to the customers is stored in the device customer data 222, access to the central repository, or to the server is not required. The device 102 may therefore operate independently of the server in the disconnected state.
At block 310, the device 102 may be reconnected to the server upon
authenticating the user, when the network connectivity to the server is available. In an implementation, at the time of reconnecting the device 102 to the server, the user authentication is performed. In operation, the device security module 212 authenticates the user, based on login credentials provided by the user. Reconnection between the device 102 and the server is established, if the user is authenticated. While, the reconnection between the device 102 and the server is restricted, if the user authentication fails.
At block 312, customer data within the central repository associated with the
server is synchronized with the modified customer data in the local repository of the device 102, when the device 102 is reconnected to the server. In operation, the device synchronization module 108 sends the modified customer data to the server, when the device 102 is reconnected to the server. The server receives the modified customer data and accordingly updates the customer data stored in the central repository with the modified customer data received from the device synchronization module 108, thereby synchronizing the customer data and maintaining the data consistency. In one implementation, the device

synchronization module 108 sends the modified customer data in an order in which modifications are made to the customer data, and the server updates the customer data in the central repository in the same order, to maintain the data integrity.
Although embodiments for the wealth management system have been
described in language specific to structural features and/or methods, it is to be understood that the invention is not necessarily limited to the specific features or methods described. Rather, the specific features and methods are disclosed as exemplary implementations for the wealth management system.

I/We Claim;
1. A method for providing wealth management services, the method comprising:
extracting customer data corresponding to one or more customers, from a central repository of a server into a local repository of a device selectively, when the device is connected to the server;
modifying the customer data in the local repository when the device is disconnected from the server; and
synchronizing the customer data in the central repository with the modified customer data in the local repository, when the device is reconnected to the server.
2. The method as claimed in claim 1. wherein the modifying comprises executing a plurality of transactions on the customer data in the local repository in an order of execution.
3. The method as claimed in claim 2, wherein the synchronizing comprises re-executing the plurality of transactions on the customer data in the central repository in the order of execution.
4. The method as claimed in claim 1 further comprises authenticating a user of the device for at least one of connecting and reconnecting the device to the server.
5. A device (102) comprising:
a device processor (202); and
a device memory (204) coupled to the device processor (202), the device memory (204) comprising:
a device extraction module (214) configured to extract customer data
corresponding to one or more customers, selectively, from a central repository
into a local repository, when the device (102) is connected to a server. a device synchronization module (108) configured to, modify the customer data in the local repository, when the device (102)
is disconnected from the server; and

send the modified customer data to the central repository, when the device (102) is reconnected to the server.
6. The device (102) as claimed in claim 5, wherein the device synchronization module (108) is further configured to update system parameters upon receiving at least one updated system parameter from the server.
7. The device (102) as claimed in claim 5 further comprising a device upgradation module (216) configured to upgrade at least one production component, based on an upgrading information received from the server.
8. The device (102) as claimed in claim 5 further comprising a device security module (212) configured to authenticate a user of the device (102) for at least one of connecting and reconnecting the device (102) to the server.
9. A server (106) comprising:
a server processor (230); and
a server memory (232) coupled to the server processor (230), the server memory (232) comprising:
a server synchronization module (110) configured to,
update customer data corresponding to at least one customer from
among a plurality of customers, based on a modified customer data,
corresponding to the at least one customer, received from a device: and
extract at least one updated system parameter from among a plurality of
system parameters.
10. The server (106) as claimed in claim 9 further comprising a server upgradation module (240) configured to detect a change in at least one production component.
11. A computer-readable medium having embodied thereon a computer program for executing a method comprising:

extracting customer data corresponding to one or more customers, from a central repository of a server into a local repository of a device, selectively, when the device is connected to the server;
modifying the customer data in the local repository when the device is disconnected from the server; and
synchronizing the customer data in the central repository with the modified customer data in the local repository, when the device is reconnected to the server.