Altruist Adds AI Tax Planning to Hazel Platform

Altruist has introduced an AI-powered tax planning feature within its Hazel platform, allowing advisors to generate personalized tax strategies by analyzing clients’ financial documents like 1040s and pay stubs.
The feature is available to all advisory firms, irrespective of custody arrangements, and marks the beginning of a series of extended planning solutions planned for the platform.
Hazel utilizes Altruist’s proprietary tax logic to process and interpret various financial documents, meeting notes, emails, and data from CRMs or custodians without requiring manual data entry.
Hazel’s new tax planning function delivers interactive scenario modeling, enabling advisors to examine the potential tax outcomes of events such as bonuses, home sales, retirement transitions, or family lifestyle changes.
The platform emphasizes that while it provides tax analysis and insights, tax advice remains the advisor’s responsibility.
The AI operates within secure infrastructure, adhering to zero-data-retention agreements which prevent any customer data from being used in model training or retained by the AI providers.