FP Alpha adds AI tax scenario agent

FP Alpha on September 2 said it had added two AI features to its tax-planning software for financial advisors: Scenario Insights and a Tax Projector Agent. The New York-based company said the tools expand its Tax Projector product by letting advisors generate tax-planning ideas from future client scenarios, not just historical returns, and build scenarios through natural-language prompts. Andrew Altfest, FP Alpha’s founder and chief executive, said the update is aimed at reducing the technical work required to test tax strategies inside advisory firms. FP Alpha describes itself as an AI-powered advanced planning platform for advisors working across tax, estate and insurance planning. (prnewswire.com) ### What exactly did FP Alpha add to its tax-planning product? The September 2 release said Scenario Insights allows advisors to generate FP Alpha’s NextGen Tax Insights from projected client situations rather than relying only on past tax-return data. The company said the Tax Projector Agent uses natural-language prompts so advisors can build and refine tax scenarios in a conversational interface. (prnewswire.com) FP Alpha said the combined tools are designed to help advisors move from identifying possible tax issues to modeling decisions, assessing their effects and finding specific planning actions for clients. The company’s website says its software already reads tax returns, wills, trusts and insurance policies to summarize data and surface planning recommendations. (prnewswire.com) ### How is this different from the tax software FP Alpha already had? FP Alpha said the new release is an enhancement to its existing Tax Projector tool, not a separate standalone product. The company’s prior materials describe its tax offering as focused on extracting information from returns, generating summaries and surfacing planning opportunities through its NextGen Tax Insights feature. (prnewswire.com) An April 1 article on FP Alpha’s site said “next-level tax planning” is proactive, scenario-based and tied to the broader financial plan, including estate outcomes and Medicare effects. That article also said the platform’s tax insights are intended to surface areas worth reviewing rather than replace CPAs or directly prescribe tax advice. ### What did the company say about why it built this now? (prnewswire.com) Andrew Altfest said tax planning has historically required advisors to know both the strategy they wanted to test and how to model it. “We’re breaking down those barriers,” he said in the release, adding that FP Alpha wants to give advisors an “intelligent partner” to explore “what ifs,” uncover overlooked opportunities and turn them into client conversations and actions. (fpalpha.com) Altfest’s role spans both software and advisory work. FP Alpha said he is also president of Altfest Personal Wealth Management, and the release said he served on the CFP Board’s AI Working Group, which examined how artificial intelligence could affect the planning profession and the relationship between AI tools and human advisors. (prnewswire.com) ### Where does this fit in FP Alpha’s broader product strategy? FP Alpha’s website says the platform is built to help advisors deliver planning across 16 disciplines and process client documents in minutes rather than hours. The company has rolled out a series of tax-focused updates over the past two years, including a standalone FP Alpha TAX product in January 2025, NextGen Tax Insights in March 2025, and additional tax enhancements in September 2025. (prnewswire.com) The company’s release notes also show a recent annual refresh of NextGen Tax Insights for 2026 tax planning, including updated IRS data, deduction rules and scenario logic. ### What happens next for advisors using the platform? FP Alpha said the features are now part of its Tax Projector offering announced on September 2. Advisors looking for the rollout details can find the announcement through FP Alpha’s press page and the company’s product-update materials. (fpalpha.com) (prnewswire.com) (go.fpalpha.com)