FP Alpha, the AI-powered tax, estate, and insurance planning platform for financial advisors, is proud to introduce NextGen Tax Insights, a first of its kind AI-driven feature designed to assist advisors in the tax planning process. Announced at the T3 Conference, NextGen Tax Insights empowers financial advisors with high-level, actionable tax insights for each client, offering greater value than ever before including, tailored, and more customized strategies for tax savings opportunities.
This news follows FP Alpha’s recent announcement that its highly popular tax offering is now available as a standalone product, FP Alpha TAX. As clients increasingly demand comprehensive financial advice, especially around tax and estate planning, NextGen Tax Insights positions advisors to showcase their value by delivering customized tax insights. These insights can then be reviewed and discussed with their clients with the end goal of the clients reviewing directly with their accountant for action and/or implementation.
With NextGen Tax Insights, FP Alpha is setting a new standard for AI-powered tax planning,” said Andrew Altfest, CFP, Founder and CEO of FP Alpha. “This tool enables advisors to provide their clients with data-driven actionable tax insights, securely, based on each clients’ specific scenarios; elevating their role as trusted financial professionals.”
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Altfest added, “Advisors need to always put their clients first and by highlighting various tax savings opportunities proactively with our NextGen Tax Insights feature, it provides advisors with the education and intelligence they need to guide their clients toward better financial outcomes, helping them minimize tax burdens and maximize their wealth.”
A Secure and Responsible approach to AI
NextGen Tax Insights goes beyond traditional tax return analysis and incorporates a holistic data approach that includes client demographics, income, assets, and financial details for deeper insights. NextGen Tax Insights only utilize the clients’ tax documents to inform on the insights generated. The AI that is being used has been trained by CFP’s, CPA’s and sources such as the IRS, which then surfaces personalized areas to review. That controlled or “closed” data approach ensures a secure, private and tailored environment.
“We take data security and privacy very seriously at FP Alpha. We have processes in place to ensure the AI is trained correctly and is monitored for accuracy, clarity and relevance constantly,” said Rachel Schwab, Director of Product at FP Alpha. “We are also compliant with CFP Boards’s recently updated AI standards,” she continued.
Additionally, FP Alpha does offer the option of “turning off” the insights tool based on the firm and the advisor’s needs and views.
New Enterprise Settings: Enhanced Control & Customization for Firms
In addition to NextGen Tax Insights, FP Alpha launched Enterprise Settings, a suite of powerful enhancements that provide firms with greater control, customization, and efficiency in managing their advisors and operations.
One of the most requested features is Company Settings, which allows firms to customize user roles and access permissions, control planning tools based on firm need and tailor platform usage for a more personalized experience.
FP Alpha also introduced a Usage Dashboard, offering enterprise firms deeper insight into how their advisors interact with the platform.
Another key addition is the Office Feature. Designed for firms with multiple locations, this feature enables offices to customize branding, disclosures, and permissions at a localized level.
“With these new Enterprise Features, FP Alpha is taking another significant step in empowering firms to efficiently manage their teams, customize workflows, and gain data-driven insights,” added Altfest. “We remain committed to delivering solutions that help advisors scale their practices while enhancing client experiences.”
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