Altruist Introduces AI-Powered Tax Planning in Hazel, Helping Advisors Deliver Tax Strategies in Minutes

Hazel can now transform complex returns into personalized tax insights, without manual data entry

LOS ANGELES–(BUSINESS WIRE)–Altruist, the tech-forward wealth platform for independent advisors, today announced the launch of a new tax planning offering within Hazel, its transformative AI platform. The new capability helps advisors create fully personalized tax strategies for clients by reading and interpreting their 1040s, paystubs, account statements, meeting notes, emails, and custodial and CRM data, and applying deep tax logic to the analysis. All of this is done within minutes.

“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,” said Jason Wenk, Founder and CEO of Altruist. “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.”

Hazel also delivers interactive scenario modeling, allowing advisors to explore “what-if” questions, such as the impact of a bonus, home sale, retirement transition, or family lifestyle changes, and see projected tax outcomes updated in real time. Advisors can export polished reports or walk clients through findings live, creating a more engaging and transparent planning experience.

Like all Hazel features, tax planning is governed by zero data retention agreements with Hazel’s AI model providers, meaning they are prohibited from retaining any data from Altruist or its customers. And this data is not used to train AI models. Hazel also operates on the same secure infrastructure as Altruist.

Hazel’s AI-powered tax planning is available to firms regardless of whether they custody assets with Altruist. This capability represents the first installment in a series of expanded planning solutions anticipated for the platform. For more information on Hazel AI Tax Planning, visit https://hazel.ai/tax-planning/.

Hazel provides tax analysis and insights to advisors and their clients. Neither Altruist nor Hazel provide tax advice, and nothing herein should be construed as such.

About Hazel

Hazel is an AI platform built by Altruist to help wealth managers transform their practice. By unifying a firm’s knowledge from conversations, emails, documents, CRM data, and calendars, with market, regulatory, and custodial insights, Hazel automates the core work of advisory firms. Hazel can capture and summarize discussions, draft follow-ups, answer questions instantly, prioritize tasks, help create personalized tax plans, and anticipate what comes next, enabling advisors to deepen their relationships with clients and achieve better outcomes. Used by more than 1,000 wealth managers since its launch in September 2025, Hazel safeguards client data with robust encryption, enterprise-grade security, zero data retention arrangements with third-party AI providers, and a strict commitment against using customer data to train AI models.

About Altruist

Altruist is the tech-forward wealth platform for independent advisors, offering a fully integrated digital experience that makes managing investments and serving clients simpler and more affordable. Altruist combines a self-clearing brokerage firm with intuitive software for account opening, trading, portfolio management, billing, and reporting. With Altruist, financial advisors can create custom portfolios, trade fractional shares, automate rebalancing, and provide clients with a sleek web and mobile app experience. Learn more at altruist.com.

Contacts

Media Contact:

Sophie Shields
[email protected]