- Addresses intergenerational wealth transfer challenges.
- Reduces advisor operational burden by 45%.
- Delivers $5,900 in tax savings per client annually.
- Built on robust AWS infrastructure with rigorous evaluation.
In a rapidly evolving financial landscape, Altruist is setting a new standard for wealth management with Hazel, its purpose-built AI platform. Designed to tackle critical industry challenges, Hazel empowers financial advisors to enhance client relationships, streamline operations, and unlock significant value.
The wealth management industry faces a dual challenge: a massive intergenerational wealth transfer and an impending shortage of financial advisors. Alarmingly, 60-70% of heirs tend to leave their parents' advisor, driven by differing values and investment philosophies. Compounding this, advisors spend an astounding 45% of their time navigating fragmented software solutions, diverting their focus from what truly matters: client engagement and business growth.
In an AI-powered world, the definition of financial advice is shifting. While AI can optimize anything quantifiable—taxes, risk-adjusted returns, portfolios—the irreplaceable value of an advisor lies in addressing the ambiguous: a client's life goals, legacy, and personal trade-offs. Altruist's Hazel is engineered precisely for this, automating the numerical complexities to free advisors to focus on deeper, more meaningful client coaching and planning.
Hazel's robust technical architecture, built entirely on AWS, underpins its success. It features a proprietary intelligence layer that employs multi-step reasoning, context management, and multi-model routing to process complex queries. Crucially, Altruist emphasizes a rigorous evaluation and benchmarking process as part of its CI/CD pipeline, ensuring that every AI deployment meets stringent accuracy and fidelity standards in this highly regulated industry.
The impact of Hazel is already profound. In just 10 weeks, advisors using Hazel have saved an average of $5,900 in taxes per client. For an advisor serving 100 households, this translates to half a million dollars in annual savings. Beyond monetary gains, Hazel saves advisors an average of 5 hours per week, equivalent to a full calendar month of productivity each year. A testament to its efficiency, one tax advisor, who typically dedicates a full day to complex client returns, completed one in just 5 minutes with Hazel. Looking ahead, Altruist plans to extend Hazel's capabilities to holistic financial planning, further solidifying its position as a transformative tool for wealth managers.
“AI is going to optimize anything that you can put a number to. So, what's really important now? It's everything that's left unsaid. It's everything that's ambiguous. It's everything that's unclear.”
- Gokul, AI Product Lead at Altruist
