Altruist Launches AI Tax Planning Tool for Advisors
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 10 2026
0mins
Should l Buy SCHW?
Source: Yahoo Finance
- AI Tax Tool Launch: Altruist has unveiled an AI tax planning tool designed for wealth advisors and their clients, aiming to enhance tax management efficiency and optimize investment returns, potentially transforming service models in the wealth management sector.
- Negative Market Reaction: Following this announcement, stocks of Charles Schwab and Raymond James tumbled on Tuesday, reflecting market concerns over the competitive pressure that new technology may impose on traditional wealth management firms.
- Increased Industry Competition: The introduction of AI technology is expected to intensify competition in the wealth management space, compelling traditional advisors to improve service quality to retain client relationships amidst evolving market dynamics.
- Uncertain Future Outlook: While the AI tax tool has the potential to boost efficiency, market sentiment remains cautious regarding its practical application and client acceptance, which may impact Altruist's marketing strategy and future growth prospects.
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Analyst Views on SCHW
Wall Street analysts forecast SCHW stock price to rise
16 Analyst Rating
14 Buy
1 Hold
1 Sell
Strong Buy
Current: 95.380
Low
91.00
Averages
116.64
High
148.00
Current: 95.380
Low
91.00
Averages
116.64
High
148.00
About SCHW
The Charles Schwab Corporation is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services, and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, and banking and trust services to individual investors, and retirement plan and business services, as well as other corporate brokerage services, to businesses and their employees. The Advisor Services segment provides custodial, trading, banking and trust, and support services to independent registered investment advisors (RIAs), independent retirement advisors, and recordkeepers. Its products and services include brokerage, mutual funds, exchange-traded funds (ETFs), managed investing solutions, alternative investments, banking, and trust.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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