Krux
February 12, 2026
Altruist's AI Now Does Your Taxes in Minutes
Published: February 12, 2026 at 5:09 AM
Updated: February 12, 2026 at 5:09 AM
100-word summary
Altruist just launched AI-powered tax planning inside its Hazel platform for financial advisors. The tool reads 1040s, pay stubs, emails, meeting notes, and account data to generate personalized tax strategies and scenario models in minutes—no human CPA required. It's available to any advisory firm for $60/seat/month, regardless of custodian. The timing's wild: shares of Schwab, Raymond James, and LPL tanked the same day as investors freaked about AI disruption. This could accelerate the automation of traditional advisory services, pressuring legacy wealth management firms to adopt AI tools or risk losing ground to tech-forward competitors.
What happened
Altruist just launched AI-powered tax planning inside its Hazel platform for financial advisors. The tool reads 1040s, pay stubs, emails, meeting notes, and account data to generate personalized tax strategies and scenario models in minutes—no human CPA required. It's available to any advisory firm for $60/seat/month, regardless of custodian. The timing's wild: shares of Schwab, Raymond James, and LPL tanked the same day as investors freaked about AI disruption.
Why it matters
This could accelerate the automation of traditional advisory services, pressuring legacy wealth management firms to adopt AI tools or risk losing ground to tech-forward competitors.