FP Alpha is releasing its FP Alpha Tax service as a standalone offering aimed at providing advisors with a scalable planning solution suitable for their entire client base.
The unbundled approach aligns with FP Alpha’s broader strategy to support advisors in more ways, especially in tax and estate planning.
Andrew Altfest, FP Alpha's founder, said in a statement that the planning solution can help advisors deliver significant added value to clients, especially in more complex scenarios, adding that the service gives advisors the ability to project, compare and optimize tax strategies.
Other features help users stay ahead of pending legislation updates and their potential effects on clients' plans. Users can also upload and analyze tax documents to project and compare various federal and state tax scenarios.
The platform can compare strategies such as Roth conversions, charitable giving and income-related planning techniques to reduce tax liabilities and provide measurable client value. This helps advisors automatically identify optimal Roth conversion strategies — including amounts, timing and the overall impact.
According to Altfest, advisors who embrace the tool can better stand out in a competitive market by delivering tax planning expertise typically unavailable from traditional advisory firms. They can, in turn, build stronger client relationships by addressing a critical and often overlooked area of financial planning.
Pictured: Andrew Altfest
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