Altruist, a tech-forward wealth platform for independent advisors, announced the launch of a new tax-planning capability within Hazel, its AI platform, designed to help advisors deliver personalized tax strategies in minutes.
The company said the feature can read and interpret client documents and data sources, including 1040s, paystubs, account statements, meeting notes, emails, and custodial and CRM data, and apply tax logic to generate individualized planning insights without manual data entry.
Altruist said Hazel’s tax planning also includes interactive scenario modeling that lets advisors test “what-if” questions, such as the projected tax impact of a bonus, a home sale, a retirement transition, or lifestyle changes, with projected outcomes updating in real time. The company said advisors can export reports or walk clients through findings live to support a more transparent planning experience.
Altruist said the feature is governed by zero-data-retention agreements with Hazel’s AI model providers, which prohibit them from retaining data from Altruist or its customers, and that customer data is not used to train AI models. The company added that Hazel operates on the same secure infrastructure as Altruist.
Altruist said the AI-powered tax planning capability is available to firms regardless of whether they custody assets with Altruist and described the launch as the first installment in a series of expanded planning solutions anticipated for the platform. The company also noted that Hazel provides tax analysis and insights, but neither Altruist nor Hazel provide tax advice.
KEY QUOTES
“Tax planning is one of the most powerful ways advisors can improve outcomes, but it’s also slow and mentally draining, especially in the busy tax season. Hazel’s tax planning feature flips that dynamic. It expands what a single advisor can handle, raises the bar on outcomes, and makes average advice a lot harder to justify.”
Jason Wenk, Founder And Chief Executive Officer, Altruist
