NEW YORK, MARCH 23, 2020 /PRNEWSWIRE/ — FP Alpha, an AI-driven wealth
management solution for financial advisors, announced today the launch of The
Tax Snapshot, a dynamic client engagement deliverable that provides financial
advisors with an instant summary of a client’s current tax return that complements
the planning opportunities identified by the FP Alpha platform.
“AI driven technology, like FP Alpha, enables financial advisors to save
hours of time through the automation of “reading” clients’ financial documents
such as tax returns and wills and then identifying actionable insights from those
documents,” said FP Alpha’s Founder and CEO Andrew Altfest. “The Tax Snapshot
provides advisors with a dynamic client engagement tool allowing to deepen
existing client relationships while also helping to establish and develop new ones.”
The Tax Snapshot provides an advisor with a customized report containing
details on 16 key tax areas, including state-specific information, Roth conversions,
charitable deductions and QBI analysis. From MAGI tiers and Roth conversions to
state tax credits and future legislation, including the Biden Tax Proposal, this
report enables advisors to add instant value to all of their clients, from the most
simplistic client case to their complex, ultra-high-net-worth business owners.
“Just as 2020 tax returns are being filed, FP Alpha added another impactful
resource to the platform’s tax planning module,” said Joel Bruckenstein,
wealthtech thought leader and Founder of Technology Tools for Today (T3). “The Tax Snapshot lets the technology efficiently capture and present the
information for the advisor so that they can focus on revenue generating
activities that will help them grow their business.”
“The Tax Snapshot was designed purposely so no human intervention was
needed when extracting data from the tax returns, so we needed to make sure
that our software had a high degree of accuracy, which it does,” Altfest continues.
“This was done to ensure the highest level of client privacy. As advisors, we need
to protect our client’s personal identifiable information (PII),” continues Altfest,
who is also the President of Altfest Personal Wealth, a $1.5 billion dollar RIA based
in New York City.
About FP Alpha
Founded by financial planner and industry leader, Andrew Altfest, CFP ®,
FP Alpha is an AI-driven comprehensive wealth management solution that helps
advisors identify actionable recommendations to clients, in a scalable, intelligent,
and cost-efficient manner. FP Alpha is designed to integrate seamlessly into the
many stages of the financial planning process and is complementary to the
advisor’s current financial planning software, starting where they stop. By
leveraging AI learning and subject matter experts across various financial
planning disciplines such as tax, estate and insurance, this innovative tool allows
advisors to uncover new planning opportunities and provide clients with more
holistic advice.
For more information, please visit: https://fpalpha.com. Patent Pending
