Overview

The Digital Investment Advice as a Service app demonstrates how Mendix can be used to provide a great user experience within a robust application template.

Build your own Mendix app that is connected to a third party investment advice service. The financial advice provider is independent, government registered (RIA) while you have full control of the digital experience of your customers.

We have teamed up with GuidedChoice to provide you the full capabilities of the great user experience features in Mendix combined with the power of Mendix to integrate with third party solutions providers. The template contains a connector that consumes the GuidedChoice REST services. This connector is easy to adapt or extend to meet your specific needs.

The Digital Investment Advice as a Service template allows users to input the parameters of their personal and financial circumstances by adding their existing investment accounts with their annual contributions and investments. The data is sent to GuidedChoice and their engine will return detailed advice on how to diversify the user’s investments to optimize risk and maximize value. Based on the user’s income replacement goal and current income, the engine will also provide insights into what their total balance and their monthly income should be at retirement.

GuidedChoice knows investing for retirement can be complicated. There’s no single path to retirement that works for everyone. Creating the right strategy must be unique to the individual. The standard practice for investment advisors all over the world is based on GuidedChoice’s founder, Harry Markowitz, Nobel Prize-winning formula called Modern Portfolio Theory (MPT) to structure the most efficient portfolio for the investor. GuidedChoice was one of the first to make this type of digital service accessible to individual investors. 

Documentation

Description

This template contains the following functionality:

• Self-service signup wizard for your customers or employees
• Create investment account
• Add investments
• View overall retirement strategy
• View investment strategy

Features and limitations

• The GuidedChoice services are currently limited to the US market.
• We've used a subset of the available services that GuidedChoice provides. If you want to use more of their services, make sure to contact them through the partner portal or their website.

Dependencies

• Mendix 9.18.2
• GuidedChoice account
• RSA key pair

Configuration

• In order to use the GuidedChoice services, you'll need to sign up through their partner portal. You'll have free access to the Mendix API services for the first 90 days.
• Go through the wizard steps until you get to Products. There make sure you select 'GuidedChoice'
• Under 'Licenses' make sure to select the Mendix API Access option
• Make sure to provide a valid payment method. You'll have free access to the services for the first 90 days.
• RSA key pair
• Generate an RSA key pair (4096 bits)
• Configure the public key in the GuidedChoice partner portal (under Public Key). Make sure the public key does not contain any line breaks or spaces.
• After you've configured the public key, the portal should provide you with a Client ID and RecordKeeper ID. You'll need these during the installation of the mpk.

Installation

• Import the mpk
• Set a value for the Client ID constant, you'll have obtained the Client ID through the GuidedChoice partner portal
• Set a value for the RecordKeeper ID constant, you'll have obtained the RecordKeeper ID through the GuidedChoice partner portal
• Login as an MxAdmin and go to Configure JWT private key. Configure and save the Private Key that you've generated through the RSA Key Pair.