AIBRIEF
Altruist's Hazel AI now drafts full financial plans covering retirement, tax, investment, cash flow, estate, and insurance, with math handled by dedicated calculation programs rather than AI.
A comprehensive financial plan that used to take a planner about 18 hours to build now takes minutes. Altruist, a custody and back-office technology firm for independent financial advisors, released a new AI agent inside its Hazel platform that drafts full plans covering retirement, investment, cash flow, estate, tax strategy, and insurance in one pass.
The agent, first teased on a June waitlist, pulls client data from financial documents, meeting notes, and connected accounts, then runs real-time scenarios across savings, investment, and spending. Altruist says the financial figures are produced by dedicated calculation programs rather than AI generation, so the math is deterministic.
Two claims do most of the load here. The agent is available to any advisory firm, whether or not it custodies assets with Altruist. It runs under zero-data-retention agreements with its model providers: customer information is not used to train outside AI or sold, per the company. Pricing for the new agent is not yet public; Hazel's existing Admin AI runs $50 per seat per month standalone and $125 bundled with tax planning.
The launch landed roughly a week after news that Vanguard agreed to acquire Altruist in a deal reported near $4 billion. The 18-hour figure and the comprehensive-coverage claim both come from Altruist; independent advisor validation is the open item.