FP Alpha Launches the Estate Planning Lab, a New Estate Planning Tool for Financial Advisors

FP Alpha, an AI-driven, holistic wealth management solution for financial advisors, announced today the launch of The Estate Planning Lab which will allow advisors an automated way to upload their client’s estate planning documents, such as wills and trusts, and display the flow of a client’s current estate plan. FP Alpha then allows advisors to compare alternative estate plan scenarios, involving the new policy proposals, to what they currently have in place. FP Alpha also recommends alternative scenarios that better align with a client’s goals and overall situation.

The document upload to automatically create a flow chart where assets will be distributed is revolutionary and first of its kind, providing advisors a new and powerful guide into financial planning relationships.

“The proposals are moving fast and we’re constantly updating our algorithms in the tool to keep up,” said FP Alpha’s Founder and CEO Andrew Altfest, CFP.

“The Estate Planning Lab was designed exactly for times like these,” Altfest continues. “In addition to having access to real-time updates on the legislation, including Sen. Bernie Sanders’s 99.5% Act and President Joe Biden’s American Families Plan, it will also save advisors significant time through our AI-driven automation process and the recommendations will allow them to proactively present solutions to their clients.”

“FP Alpha’s revolutionary platform empowers advisors to play an integral part in the overall estate planning process,” said Marty Shenkman, estate planning expert and Founder of Shenkman Law. “With The Estate Planning Lab, the advisor can identify and raise critical planning points, creating the opportunity to liaise between the client and the attorney facilitating a more efficient review,” Shenkman continues. “By providing this additional service to your client, advisors can clearly demonstrate their value and justify their fee.”

“We have already started using The Estate Planning Lab with our clients at our firm,” continues Altfest, who is also the President of Altfest Personal Wealth Management, a $1.6 billion RIA based in New York City. “We are reaching out to our clients about the pending legislation, collecting their estate planning documents, uploading them through our platform and summarizing the results. It provides us with an opportunity to proactively engage them in a meaningful way and potentially save them money now and from issues down the road”.

About FP Alpha

Founded by financial planner and industry leader, Andrew Altfest, CFP ®, FP Alpha is an AI-driven, holistic wealth management solution that helps advisors identify actionable recommendations to clients, in a scalable, intelligent, and cost-efficient manner. FP Alpha is designed to integrate seamlessly into the many stages of the financial planning process and is complementary to the advisor's current financial planning software, starting where they stop. By leveraging AI learning and subject matter experts across various financial planning disciplines such as tax, estate and insurance, this innovative tool allows advisors to uncover new planning opportunities and provide clients with more holistic advice. For more information, please visit: https://fpalpha.com. Patent Pending

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