FP Alpha, the innovative AI-powered advanced planning platform, is excited to announce the launch of FP Alpha TAX, the platform’s popular tax offering, that is now available as a standalone product. This unbundling aligns with FP Alpha’s mission to provide financial advisors with cutting-edge tools to enhance their value proposition and offer advanced planning services (such as tax and estate planning services) to their entire client base. Similar to their Estate Planning offering, this change allows advisors to tailor their FP Alpha experience to their specific needs, focusing solely on tax planning, if desired. As an added incentive for advisors to do this, FP Alpha TAX is priced lower than other competitive tax planning solutions.
“Unbundling our Tax offering to create FP Alpha TAX, is a game-changer for financial advisors who want to focus on delivering unparalleled value in tax planning,” said Andrew Altfest, CFP and Founder of FP Alpha and President of Altfest Personal Wealth Management. “Our tax planning tools empower advisors to efficiently tackle complex tax scenarios, saving time while enhancing the client experience. We’re thrilled to offer this flexibility and help advisors elevate their services in a meaningful way.”
FP Alpha TAX is designed to simplify tax planning, increase efficiency, and deliver value to clients through actionable insights. With the ability to project, compare, and optimize tax strategies, FP Alpha TAX transforms the often complex and time-consuming process of tax planning into a streamlined, impactful advisory service.
Key Features of FP Alpha TAX:
- Tax Snapshot and Insights:
- With over 20,000 Tax Snapshots generated, advisors and firms can access instant, visual summaries of key tax return details, including MAGI tiers, federal and state tax data, charitable deductions, QBI analysis, and more.
- Stay ahead of pending legislation updates and their potential impacts on client scenarios.
- Tax Projector Tool:
- Upload client tax documents to instantly project and compare various federal and state tax scenarios.
- Model income tax projections across multiple years and evaluate dozens of tax strategies side by side, including changes in filing status and income levels.
- Compare strategies such as Roth conversions, charitable giving, and income-related planning techniques to reduce tax liabilities and provide measurable client value.
- Roth Conversion Simulator:
- Our award- winning Simulator tool automatically identifies optimal Roth conversion strategies, including amounts, timing, and the overall impact.
- Customize conversion inputs and visualize the effects on Roth and Traditional IRA accounts, as well as lifetime taxes.
- Leverage the “Optimize” function to pinpoint the most efficient strategies for conversion.
Why Tax Planning is Critical to Grow and Scale
As clients increasingly expect their financial advisors to provide holistic and proactive planning, tax strategies have emerged as a critical component of comprehensive wealth management. However, the manual effort required to analyze and optimize tax scenarios can strain an advisor’s resources. FP Alpha Tax addresses these challenges by:
- Improving Client Outcomes:
- Reduce clients’ tax bills through personalized, data-driven strategies that demonstrate clear value.
- Offer actionable insights on tax opportunities, such as optimizing Roth conversions and charitable giving, to help clients achieve their financial goals.
- Enhancing Efficiency:
- Streamline tax planning workflows with automated document uploads and analysis.
- Generate sophisticated projections and comparisons within minutes, freeing up time for client engagement and strategic planning.
- Increasing Advisor Differentiation:
- Stand out in a competitive market by delivering tax planning expertise typically unavailable from traditional advisory firms.
- Build stronger client relationships by addressing a critical and often overlooked area of financial planning.b
