Concept note · Personal Financial Record · 2026-10-19
A private 10-Q for personal finance.
Intelligent financial applications need permissioned data with a stable home and shared meaning. A Personal Financial Record combines user-controlled storage with a taxonomy for assets, liabilities, policies, cash flows and measured risk.
Storage preserves the record. Taxonomy makes it computable. Tools measure what the record means.
The investment portfolio is the first working module. It is one schedule inside the broader personal balance sheet.
01 · The operating model
A useful record needs a home, a language and measurement.
01
Storage
A dated record under the owner’s control, with permission, revocation, history and source evidence.
02
Taxonomy
Defined objects and terms so rate, benchmark, maturity, identity, value and provenance mean the same thing to every app.
03
Measurement
Specialist tools compute panels from the record and return dated, attributed results instead of generated estimates.
02 · The health precedent
Medical data already separates storage, structure and terminology.
HL7 states that automated clinical decision support requires structured and standardized data. FHIR supplies exchangeable resource structures. LOINC identifies observations and documents. SNOMED CT gives clinical concepts computable meaning. The application can reason more reliably because the record carries defined objects, dates, units, relationships and provenance.
Personal finance has mature feeds, payment standards and identifiers. The missing layer is a portable record assembled around the individual, with a shared taxonomy spanning the entire balance sheet and a consistent place for derived measurements.
| Layer | Health | Personal finance |
|---|---|---|
| Structured record | FHIR resources give applications a consistent way to represent and exchange health information. | PFR resources describe people, accounts, assets, liabilities, policies, cash flows and relationships. |
| Shared terminology | LOINC identifies observations and documents; SNOMED CT supplies computable clinical meaning. | A financial taxonomy identifies instrument type, rate type, benchmark, term, security, valuation basis and provenance. |
| Measured panel | A lab result carries a test identity, value, unit, reference, date and source. | A financial panel carries a metric identity, value, unit, benchmark, as-of date, method and provider. |
| Permissioned applications | Authorized applications read the same record and can reason from the same defined concepts. | Gemini, Google Finance and professional applications read the same owner-controlled record. |
Structured record
Health
FHIR resources give applications a consistent way to represent and exchange health information.
Personal finance
PFR resources describe people, accounts, assets, liabilities, policies, cash flows and relationships.
Shared terminology
Health
LOINC identifies observations and documents; SNOMED CT supplies computable clinical meaning.
Personal finance
A financial taxonomy identifies instrument type, rate type, benchmark, term, security, valuation basis and provenance.
Measured panel
Health
A lab result carries a test identity, value, unit, reference, date and source.
Personal finance
A financial panel carries a metric identity, value, unit, benchmark, as-of date, method and provider.
Permissioned applications
Health
Authorized applications read the same record and can reason from the same defined concepts.
Personal finance
Gemini, Google Finance and professional applications read the same owner-controlled record.
03 · The personal 10-Q
One dated balance sheet, with a typed schedule behind every line.
The “personal 10-Q” is a mental model rather than a regulatory filing. It records assets, liabilities, protection, recurring commitments and changes over time. Each total reconciles to instrument-level schedules and source evidence. Quarterly snapshots make changes inspectable while preserving the original facts and valuation dates.
Illustrative storage
personal-finance/
manifest.pfr.json
snapshots/2026-Q3/
balance-sheet.json
assets/
investments.json
real-estate.json
liabilities/
mortgages.json
credit.json
protection/
life-insurance.json
panels/
liquidity.json
portfolio-risk.json
evidence/
source-index.jsonSource documents can remain separate and access-controlled. The manifest carries references, hashes, permissions and provenance rather than copying unnecessary sensitive data.
Manifest
Owner, as-of date, permissions, data-use terms, schema and taxonomy versions
Balance sheet
Typed assets, liabilities, policies, commitments and ownership relationships
Schedules
Instrument-specific terms such as rate, benchmark, maturity, premium and reset rules
Evidence
Statements, policies and source references with extraction date and provenance
Panels
Derived liquidity, debt, insurance and investment measurements, each labeled and versioned
History
Periodic snapshots and changes, preserving what was known and when it became known
04 · Taxonomy examples
“Rate” only becomes useful when the record defines its role.
A value such as 6.25 has no operational meaning by itself. The record must state whether the value is fixed or floating, its unit, effective date, benchmark, spread, reset rule and term. The same rule applies to an insurance crediting rate, a portfolio benchmark and every valuation in the balance sheet.
Mortgage
- Stored position
- Principal, collateral, lien priority, payment
- Taxonomy and terms
- Rate type, rate, index or benchmark, spread, reset cadence, amortization term, maturity
- Computable panel
- Payment schedule, rate-reset exposure, maturity ladder
Life insurance
- Stored position
- Carrier, policy type, face amount, cash value, policy loans
- Taxonomy and terms
- Premium schedule, term or maturity, guarantees, credited-rate or index method, riders
- Computable panel
- Coverage, premium commitments, cash-value and guarantee schedule
Investment portfolio
- Stored position
- Accounts, positions, lots, cash, stable security identity
- Taxonomy and terms
- Tax status, currency, benchmark, corporate-action chain, valuation and model dates
- Computable panel
- Allocation, factor exposure, risk decomposition, dated performance
Real estate
- Stored position
- Property interest, ownership share, cost basis, current value
- Taxonomy and terms
- Valuation date and source, encumbrances, taxes, insurance
- Computable panel
- Equity, leverage, carrying cost, concentration
Cash and credit
- Stored position
- Account type, currency, balance, credit limit
- Taxonomy and terms
- APR, index or benchmark, spread, payment date, statement period
- Computable panel
- Liquidity, borrowing cost, near-term obligations
05 · Why applications become more accurate
The record constrains the model before the model writes an answer.
A language model can summarize source documents. It should not invent the identity of a security, infer whether a mortgage rate resets, or guess which benchmark governs a policy. Typed fields and controlled terms make those facts explicit. Specialist tools can then calculate from the same dated object and return results with units, method and provenance.
- 01
Resolve
Map each account, policy, liability, property and security to a stable identity.
- 02
Normalize
Attach dates, units, currencies, benchmarks, terms and controlled classifications.
- 03
Measure
Call the appropriate risk, debt, insurance or cash-flow tool using defined inputs.
- 04
Explain
Generate prose from measured outputs while citing the record, method and data date.
06 · Working module · investments
The first module is a portfolio schedule with a measured risk panel.
The draft v0.1 record contains accounts, holdings, stable identifiers, valuation dates, provenance and labeled derived results. The illustrative $250,000 portfolio holds 12 stocks across seven sectors. RiskModels measures a 0.84 market beta and attributes 66.5% of total risk to market and sector movements as of 2026-10-16.
- 12
- stocks
- 7
- sectors
- 0.84
- market beta
- 66.5%
- systematic share
This module establishes the storage, provenance and measurement pattern. Mortgage, insurance, real-estate, cash-flow and liability schedules remain proposed extensions.
07 · Product path
One owner-controlled record can support several authorized applications.
Gemini
Read the PFR in Drive, call specialist tools and explain the measured financial position.
Google Finance
Import and update investment schedules while writing dated portfolio facts back to the record.
Professional workflows
Share selected schedules with an advisor, accountant, lender or insurer under explicit permission.
The proposed data-use fields express the owner’s requested terms. Each platform must independently agree to enforce those terms. The record is descriptive infrastructure and does not authorize an app to move money, change an account or provide regulated advice.
08 · Draft and evidence
Review the working investment module.
The current bundle includes the draft specification, JSON Schema, illustrative portfolio record, summary PDF and validator. It is a v0.1 investment module. The broader personal-10-Q taxonomy is the next design step.