# WIA-FIN-002: Wealth Management Standard - Technical Specification v1.0

> **弘益人間 · Benefit All Humanity**

**Status:** Draft
**Version:** 1.0.0
**Last Updated:** 2025-12-27
**Author:** WIA Standards Committee

---

## Table of Contents

1. [Introduction](#introduction)
2. [Scope](#scope)
3. [Data Model](#data-model)
4. [API Specification](#api-specification)
5. [Security Requirements](#security-requirements)
6. [Integration Patterns](#integration-patterns)
7. [Compliance & Regulations](#compliance--regulations)
8. [Performance Requirements](#performance-requirements)
9. [Testing & Validation](#testing--validation)
10. [Appendix](#appendix)

---

## 1. Introduction

### 1.1 Purpose

The WIA Wealth Management Standard (WIA-FIN-002) defines a comprehensive framework for digital wealth management systems. This specification provides standardized data structures, API interfaces, security protocols, and integration patterns to enable interoperable, secure, and intelligent wealth management solutions.

### 1.2 Goals

- **Interoperability:** Enable seamless data exchange between financial institutions, platforms, and services
- **Security:** Ensure bank-level protection of sensitive financial data
- **Intelligence:** Support advanced analytics, optimization, and AI-driven insights
- **Compliance:** Adhere to global financial regulations and data protection standards
- **Accessibility:** Make professional wealth management tools accessible to all

### 1.3 Key Terminology

- **Asset:** Any financial instrument with monetary value
- **Portfolio:** A collection of assets owned by an individual or entity
- **Net Worth:** Total assets minus total liabilities
- **Asset Allocation:** Distribution of investments across different asset classes
- **Rebalancing:** Adjusting portfolio to maintain target allocation
- **Tax-Loss Harvesting:** Selling securities at a loss to offset capital gains

---

## 2. Scope

### 2.1 In Scope

- Asset tracking and valuation
- Portfolio management and optimization
- Tax planning and optimization
- Estate planning and wealth transfer
- Performance analytics and reporting
- Security and compliance
- Multi-currency and multi-account support

### 2.2 Out of Scope

- Direct trading execution (delegated to brokerage APIs)
- Banking services (checking, savings accounts)
- Insurance products
- Lending and borrowing
- Payment processing

---

## 3. Data Model

### 3.1 Core Entities

#### 3.1.1 User

```typescript
interface User {
  id: string;
  email: string;
  fullName: string;
  dateOfBirth: Date;
  country: string;
  taxResidency: string[];
  riskTolerance: 'conservative' | 'moderate' | 'aggressive';
  createdAt: Date;
  updatedAt: Date;
}
```

#### 3.1.2 Asset

```typescript
interface Asset {
  id: string;
  userId: string;
  type: AssetType;
  symbol?: string;
  name: string;
  quantity: number;
  costBasis: number;
  currentValue: number;
  currency: string;
  acquiredDate: Date;
  metadata: Record<string, any>;
}

enum AssetType {
  EQUITY = 'equity',
  BOND = 'bond',
  MUTUAL_FUND = 'mutual_fund',
  ETF = 'etf',
  REAL_ESTATE = 'real_estate',
  CRYPTOCURRENCY = 'cryptocurrency',
  COMMODITY = 'commodity',
  CASH = 'cash',
  OTHER = 'other'
}
```

#### 3.1.3 Portfolio

```typescript
interface Portfolio {
  id: string;
  userId: string;
  name: string;
  description?: string;
  assets: Asset[];
  totalValue: number;
  currency: string;
  targetAllocation?: AllocationTarget[];
  createdAt: Date;
  updatedAt: Date;
}

interface AllocationTarget {
  assetType: AssetType;
  targetPercentage: number;
  currentPercentage: number;
  drift: number;
}
```

#### 3.1.4 Transaction

```typescript
interface Transaction {
  id: string;
  userId: string;
  portfolioId: string;
  assetId: string;
  type: TransactionType;
  quantity: number;
  price: number;
  totalAmount: number;
  fees: number;
  currency: string;
  executedAt: Date;
  metadata: Record<string, any>;
}

enum TransactionType {
  BUY = 'buy',
  SELL = 'sell',
  DIVIDEND = 'dividend',
  INTEREST = 'interest',
  TRANSFER_IN = 'transfer_in',
  TRANSFER_OUT = 'transfer_out'
}
```

#### 3.1.5 TaxReport

```typescript
interface TaxReport {
  id: string;
  userId: string;
  taxYear: number;
  totalIncome: number;
  capitalGains: {
    shortTerm: number;
    longTerm: number;
  };
  dividendIncome: number;
  interestIncome: number;
  estimatedTaxLiability: number;
  taxLossHarvestingOpportunities: TaxLossOpportunity[];
  generatedAt: Date;
}

interface TaxLossOpportunity {
  assetId: string;
  symbol: string;
  costBasis: number;
  currentValue: number;
  unrealizedLoss: number;
  potentialTaxSavings: number;
}
```

### 3.2 Data Validation Rules

- All monetary values must be represented with 2 decimal precision
- Dates must be in ISO 8601 format
- Currency codes must follow ISO 4217
- User IDs must be unique and immutable
- Asset quantities must be non-negative
- Portfolio allocations must sum to 100%

---

## 4. API Specification

### 4.1 RESTful API Endpoints

#### 4.1.1 Portfolio Management

```
GET    /api/v1/portfolios
GET    /api/v1/portfolios/:id
POST   /api/v1/portfolios
PUT    /api/v1/portfolios/:id
DELETE /api/v1/portfolios/:id
```

#### 4.1.2 Asset Management

```
GET    /api/v1/assets
GET    /api/v1/assets/:id
POST   /api/v1/assets
PUT    /api/v1/assets/:id
DELETE /api/v1/assets/:id
GET    /api/v1/assets/:id/valuation
```

#### 4.1.3 Analytics

```
GET    /api/v1/analytics/performance
GET    /api/v1/analytics/risk-metrics
GET    /api/v1/analytics/allocation
POST   /api/v1/analytics/optimize
```

#### 4.1.4 Tax Services

```
GET    /api/v1/tax/reports/:year
POST   /api/v1/tax/harvest-opportunities
POST   /api/v1/tax/execute-harvest
```

### 4.2 Request/Response Examples

#### Get Portfolio

**Request:**
```http
GET /api/v1/portfolios/port_123 HTTP/1.1
Host: api.wia.org
Authorization: Bearer {access_token}
```

**Response:**
```json
{
  "id": "port_123",
  "userId": "user_456",
  "name": "Main Portfolio",
  "totalValue": 1247850.00,
  "currency": "USD",
  "assets": [
    {
      "id": "asset_789",
      "type": "equity",
      "symbol": "AAPL",
      "name": "Apple Inc.",
      "quantity": 1020,
      "currentValue": 124785.00
    }
  ],
  "performance": {
    "ytd": 0.114,
    "oneMonth": 0.035,
    "oneYear": 0.187
  }
}
```

#### Create Asset

**Request:**
```http
POST /api/v1/assets HTTP/1.1
Host: api.wia.org
Authorization: Bearer {access_token}
Content-Type: application/json

{
  "portfolioId": "port_123",
  "type": "equity",
  "symbol": "MSFT",
  "quantity": 50,
  "costBasis": 20765.00
}
```

**Response:**
```json
{
  "id": "asset_890",
  "portfolioId": "port_123",
  "type": "equity",
  "symbol": "MSFT",
  "name": "Microsoft Corporation",
  "quantity": 50,
  "costBasis": 20765.00,
  "currentValue": 21530.00,
  "unrealizedGain": 765.00,
  "createdAt": "2025-12-27T14:32:15Z"
}
```

### 4.3 GraphQL Schema

```graphql
type Query {
  user(id: ID!): User
  portfolio(id: ID!): Portfolio
  portfolios(userId: ID!): [Portfolio!]!
  asset(id: ID!): Asset
  analytics(portfolioId: ID!, period: String!): Analytics
  taxReport(userId: ID!, year: Int!): TaxReport
}

type Mutation {
  createPortfolio(input: CreatePortfolioInput!): Portfolio!
  updatePortfolio(id: ID!, input: UpdatePortfolioInput!): Portfolio!
  deletePortfolio(id: ID!): Boolean!
  addAsset(input: AddAssetInput!): Asset!
  removeAsset(id: ID!): Boolean!
  rebalancePortfolio(portfolioId: ID!): RebalanceResult!
  executeTaxHarvest(opportunityId: ID!): Transaction!
}

type Subscription {
  portfolioValueUpdated(portfolioId: ID!): Portfolio!
  marketDataUpdated(symbols: [String!]!): [MarketData!]!
}
```

---

## 5. Security Requirements

### 5.1 Authentication

- **Multi-Factor Authentication (MFA):** Required for all user accounts
- **OAuth 2.0:** Standard authentication protocol
- **JWT Tokens:** Stateless authentication with expiration
- **Biometric Support:** Fingerprint, Face ID for mobile apps

### 5.2 Authorization

- **Role-Based Access Control (RBAC):** User, Advisor, Admin roles
- **Fine-Grained Permissions:** Read, Write, Delete, Manage
- **Resource Ownership:** Users can only access their own data
- **Audit Logging:** All access attempts logged

### 5.3 Data Protection

- **Encryption at Rest:** AES-256 encryption for all stored data
- **Encryption in Transit:** TLS 1.3 for all API communications
- **Key Management:** Hardware Security Modules (HSM) for key storage
- **Data Masking:** Sensitive fields masked in logs and analytics

### 5.4 Compliance

- **GDPR:** Right to access, rectification, erasure, portability
- **CCPA:** California Consumer Privacy Act compliance
- **SOC 2 Type II:** Annual security audits
- **PCI DSS:** Payment card data security standards
- **FINRA:** Financial Industry Regulatory Authority compliance

---

## 6. Integration Patterns

### 6.1 Market Data Integration

```typescript
interface MarketDataProvider {
  getQuote(symbol: string): Promise<Quote>;
  getHistoricalData(symbol: string, period: string): Promise<HistoricalData>;
  subscribeToRealtime(symbols: string[]): EventStream<Quote>;
}
```

### 6.2 Brokerage Integration

```typescript
interface BrokerageAdapter {
  getAccount(): Promise<Account>;
  getPositions(): Promise<Position[]>;
  placeOrder(order: Order): Promise<OrderConfirmation>;
  getOrderStatus(orderId: string): Promise<OrderStatus>;
}
```

### 6.3 Tax Service Integration

```typescript
interface TaxServiceProvider {
  calculateTaxLiability(income: Income[], deductions: Deduction[]): Promise<TaxLiability>;
  generateTaxForms(userId: string, year: number): Promise<TaxForms>;
  findHarvestingOpportunities(portfolio: Portfolio): Promise<TaxLossOpportunity[]>;
}
```

---

## 7. Compliance & Regulations

### 7.1 Regulatory Framework

- **SEC (Securities and Exchange Commission):** Investment advisor registration
- **FINRA:** Broker-dealer regulations
- **CFTC:** Commodity futures trading
- **Banking Regulations:** If offering cash management
- **State Regulations:** State-specific financial services laws

### 7.2 Data Retention

- **Transaction Records:** 7 years minimum
- **Tax Documents:** Per local tax authority requirements
- **User Communications:** 3 years minimum
- **Audit Logs:** 1 year minimum

### 7.3 Reporting Requirements

- **Annual Reports:** Comprehensive portfolio performance
- **Tax Documents:** 1099-DIV, 1099-INT, 1099-B
- **Regulatory Filings:** As required by jurisdiction
- **Suspicious Activity Reports (SAR):** Anti-money laundering compliance

---

## 8. Performance Requirements

### 8.1 Scalability

- Support 1,000,000+ concurrent users
- Handle 10,000+ requests per second
- Process 100,000+ portfolio valuations per minute
- Store 1 billion+ historical transactions

### 8.2 Latency

- API response time: < 200ms (p95)
- Real-time quote updates: < 100ms
- Portfolio valuation: < 500ms
- Report generation: < 5 seconds

### 8.3 Availability

- System uptime: 99.95% (excluding scheduled maintenance)
- Data backup: Every 6 hours
- Disaster recovery: RPO < 1 hour, RTO < 4 hours
- Multi-region deployment for redundancy

---

## 9. Testing & Validation

### 9.1 Unit Testing

- Code coverage: > 80%
- All data models validated
- All API endpoints tested
- All business logic verified

### 9.2 Integration Testing

- End-to-end user workflows
- Third-party API integration
- Database transactions
- Authentication and authorization

### 9.3 Security Testing

- Penetration testing: Quarterly
- Vulnerability scanning: Weekly
- Code security analysis: Every commit
- Third-party security audits: Annually

### 9.4 Performance Testing

- Load testing: Simulate 10x normal load
- Stress testing: Determine breaking points
- Endurance testing: 72-hour sustained load
- Spike testing: Sudden traffic increases

---

## 10. Appendix

### 10.1 Sample Code

#### TypeScript SDK Usage

```typescript
import { WealthManagementSDK } from '@wia/wealth-management';

const sdk = new WealthManagementSDK({
  apiKey: process.env.WIA_API_KEY,
  environment: 'production'
});

// Get user portfolio
const portfolio = await sdk.getPortfolio('port_123');

// Add new asset
const asset = await sdk.addAsset({
  portfolioId: 'port_123',
  type: 'equity',
  symbol: 'AAPL',
  quantity: 100,
  costBasis: 17500.00
});

// Get performance analytics
const analytics = await sdk.getAnalytics({
  portfolioId: 'port_123',
  period: 'ytd'
});

// Execute tax-loss harvesting
const opportunities = await sdk.getTaxHarvestOpportunities('user_456');
if (opportunities.length > 0) {
  await sdk.executeTaxHarvest(opportunities[0].id);
}
```

### 10.2 References

- [ISO 4217 Currency Codes](https://www.iso.org/iso-4217-currency-codes.html)
- [ISO 8601 Date Format](https://www.iso.org/iso-8601-date-and-time-format.html)
- [OAuth 2.0 Specification](https://oauth.net/2/)
- [JWT RFC 7519](https://datatracker.ietf.org/doc/html/rfc7519)
- [OpenAPI Specification](https://swagger.io/specification/)

### 10.3 Version History

| Version | Date | Changes |
|---------|------|---------|
| 1.0.0 | 2025-12-27 | Initial release |

### 10.4 Contributing

Contributions to this standard are welcome. Please submit proposals through the WIA Standards Committee.

**Contact:**
- Email: standards@wia.org
- GitHub: https://github.com/WIA-Official/wia-standards
- Website: https://wia.org

---

**© 2025 SmileStory Inc. / WIA**
弘益人間 (홍익인간) · Benefit All Humanity

**License:** MIT License
**SPDX-License-Identifier:** MIT