Allow users to create and manage accounts using email, social media, or third-party authentication services.
Implement role-based access control for different user roles (e.g., investors, advisors, administrators).
Portfolio Creation and Management:
Provide tools for users to create and manage multiple investment portfolios, including the ability to add, remove, and edit assets.
Support tracking of various asset types, including stocks, bonds, mutual funds, ETFs, and real estate.
Asset Tracking and Valuation:
Offer real-time and historical data for assets, including prices, performance metrics, and valuation.
Integrate with financial data providers for up-to-date asset information and market trends.
Investment Analysis and Reporting:
Provide analytical tools for assessing portfolio performance, including return on investment (ROI), risk metrics, and asset allocation.
Generate reports and visualizations, such as performance charts, risk assessments, and transaction histories.
Trade Execution and Management:
Allow users to execute trades, such as buying or selling assets, directly through the system.
Provide tools for managing open orders, trade confirmations, and transaction histories.
Portfolio Rebalancing and Optimization:
Offer tools for portfolio rebalancing based on predefined criteria or user preferences.
Provide optimization features for maximizing returns or minimizing risk according to user-defined goals.
Alerts and Notifications:
Send alerts and notifications for significant portfolio events, such as price changes, news updates, or threshold breaches.
Allow users to customize notification preferences and delivery methods (e.g., email, SMS, in-app).
Integration with Financial Accounts:
Integrate with external financial institutions to import data from bank accounts, brokerage accounts, and retirement accounts.
Support secure data exchange and synchronization with third-party financial services.
Tax Management and Reporting:
Provide tools for tracking and managing tax-related aspects of investments, such as capital gains, losses, and dividend income.
Generate tax reports and summaries for filing and compliance purposes.
User Profile and Preferences:
Allow users to configure personal preferences, such as risk tolerance, investment goals, and preferred asset classes.
Provide customizable dashboards and settings for a personalized user experience.
Advisor Interaction and Management:
Enable users to interact with financial advisors, including scheduling consultations, sharing portfolios, and receiving advice.
Provide tools for advisors to manage their clients’ portfolios and track interactions.
Admin Panel:
Include an administrative interface for managing users, portfolios, transactions, and system settings.
Provide tools for monitoring system usage, resolving issues, and ensuring compliance with platform policies.
Help and Support Resources:
Offer access to help resources, including FAQs, user guides, and support contact options.
Provide customer support through various channels, such as email, live chat, or phone.
Non-Functional Requirements
Scalability:
The system should handle increasing numbers of users, portfolios, and transactions without performance issues.
Support for scaling infrastructure to accommodate growth and peak usage periods.
Performance:
Ensure fast and responsive interactions, with quick access to portfolio data, analytics, and trade execution.
Optimize performance to handle large datasets and high volumes of concurrent users efficiently.
Reliability and Availability:
Ensure high availability with minimal downtime, supported by redundancy, load balancing, and failover mechanisms.
Implement regular backups and disaster recovery procedures to maintain service continuity.
Usability:
The user interface should be intuitive and user-friendly, accommodating users with varying levels of financial expertise.
Provide a consistent and seamless experience across different devices and platforms.
Interoperability:
The system should integrate seamlessly with external financial data providers, banks, and brokerage platforms.
Support standard APIs and data formats for interoperability and data exchange.
Maintainability:
Ensure the system is easy to maintain, with clear documentation, modular design, and support for regular updates and bug fixes.
Implement automated monitoring and logging to identify and address issues promptly.
Compliance:
Ensure the system complies with relevant regulations and standards, such as financial regulations (e.g., SEC, MiFID II) and data protection laws (e.g., GDPR, CCPA).
Provide features to support auditing, data retention, and regulatory reporting requirements.
Data Integrity and Accuracy:
Ensure that all data collected and processed by the system is accurate, consistent, and up-to-date.
Implement validation checks and data integrity mechanisms to prevent errors and data corruption.
Localization and Internationalization:
Support multiple languages and regional settings to cater to a global user base.
Allow easy adaptation of the system to meet local regulations and cultural practices.
Accessibility:
Ensure that the system is accessible to users with disabilities, following web accessibility standards (e.g., WCAG).
Provide features such as screen reader compatibility, keyboard navigation, and adjustable text sizes.
Privacy and Data Ownership:
Ensure that users retain ownership of their data and can easily control, access, and delete their information.
Provide transparency regarding data usage, sharing, and storage practices, with clear consent mechanisms.
