Altruist launches AI financial planning agent. Janowski, D. (2026, August 31). Altruist soft-launches AI financial planning agent. WealthManagement.com. https://www.wealthmanagement.com/advisor-support-platforms/altruist-launches-ai-financial-planning-agent * Custodian and technology provider Altruist has soft-launched a financial planning agent within its Hazel AI platform that generates comprehensive financial plans within minutes. * The agent covers retirement planning, investment optimization, cash flow analysis, estate planning, tax strategy, and insurance and risk assessment. * The tool provides real-time scenario modeling and is available to firms regardless of their custody arrangements with Altruist. * Founder and CEO Jason Wenk stated that the agent allows a single advisor to do much of the work that a shop full of specialists would do, in a fraction of the time. * The platform gathers data from financial documents, client meetings, and connected sources under zero data retention agreements with AI model providers, using AI for data collection while relying on dedicated calculation programs for financial computations. * Pricing was not immediately available, though the company indicated it would mirror its tax planning capability, where Hazel Admin AI costs $50 per seat monthly annually or $125 monthly with tax planning included. * The announcement follows Vanguard's agreement to acquire Altruist for $4.6 billion in an all-cash transaction expected to close later in 2026. Knote: I like that they are only using AI for data collection and input, not the actual planning decisions.

Vanguard is pushing into Fidelity's turf.

Vanguard strikes deal for fintech platform Altruist. Published on 08/26/2026 at 08:52 am EDT - Modified on 08/26/2026 at 09:04 am EDT Aug 26 (Reuters) - Vanguard Group said on Wednesday it would acquire fintech platform Altruist, giving the asset manager greater access to independent financial advisers and expanding its wealth-management capabilities. Here are some more details: o While the terms of the deal were not disclosed, the Wall Street Journal said the transaction was worth roughly $4 billion, citing people familiar with the matter. o Founded in 2018, Altruist is a wealth-management technology platform used by independent financial advisers. It is a competitor to Charles Schwab and Fidelity's custody businesses. o "As more investors in Vanguard funds choose to work with financial advisors, we see a significant opportunity to build on the strengths of two highly complementary organizations to help advisors serve clients more effectively," said Salim Ramji, CEO of Vanguard. o The deal aligns with Ramji's strategy of expanding Vanguard's advice and wealth-management business as asset managers push further into serving affluent clients. o Vanguard, which managed about $12 trillion in assets as of March 31, also acquired wealth-management technology provider Just Invest in 2021. o Following the deal's close, Altruist will continue to run as a separate business under Vanguard's ownership. o The transaction is expected to close later this year. (Reporting by Pragyan Kalita in Bengaluru) (C) Reuters - 2026