Altruist Adds AI Tax Planning to Hazel Platform

Altruist has integrated AI-powered tax planning into its Hazel platform to automate the creation of personalized tax strategies for financial advisors.
The system utilizes proprietary logic to analyze client documents including 1040 forms, pay stubs, and account statements without requiring manual data entry.
Advisors can perform interactive scenario modeling to project tax outcomes for significant life events such as home sales or retirement transitions.
The platform is designed to be custodian-agnostic, allowing any advisory firm to utilize the tool regardless of where their client assets are held.
Security protocols include zero-data-retention agreements with AI model providers to ensure client information is not used for model training.
CEO Jason Wenk stated the tool aims to reduce the mental drain of tax season while raising the standard for professional financial advice.
This feature represents the first in a planned series of expanded planning solutions intended to deepen advisor-client engagement through real-time data insights.