TaxStatus, the wealth management technology firm, has announced an integration with Jump, a provider of artificial intelligence solutions for financial advisors and other financial services organizations.
Through the integration, Jump users will be able to access Internal Revenue Service-verified financial data within their advisor platform. This is the first time that IRS-verified financials have been integrated into an AI-powered advisor platform, according to the announcement.
"We've seen growing demand in the advisor space for verified financial data as they shift toward more accurate, technology-driven planning frameworks," Kevin Knull, CEO of TaxStatus, said in a statement. "Through the integration with Jump, advisors can now uncover opportunities, surface risks, and act on real, complete financial information in seconds."
As Knull detailed, TaxStatus connects directly to the IRS to pull verified financial information, analyzing thousands of data points per taxpayer to uncover held-away assets, business ownership, real estate holdings, retirement accounts and other financial details. In addition, the platform monitors clients' IRS accounts in real time, alerting advisors to tax liabilities, refunds, audits or filing discrepancies before clients receive official notices from the IRS.
With the Jump integration, the IRS-verified information can be fed directly into pre-meeting briefs automatically generated for advisors, saving them significant time by doing away with manual data collection and entry.
"Integrating IRS-verified financial data from TaxStatus directly into Jump represents a huge opportunity for financial advisors," said Parker Ence, CEO of Jump. "By eliminating manual and tedious data gathering and skipping ahead to real-time financial insights, this integration will empower advisors to prepare, plan, and advise faster, plus uncover opportunities that were previously hidden."
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