AI-Enhanced Tax Tool from Startup Sends Shockwaves Through U.S. Brokerage Stocks
U.S. brokerage shares tumbled after wealth management startup Altruist rolled out AI-enabled tax planning features integrated into its Hazel AI platform. The move amplified investor worries that AI-first startups could automate tasks traditionally handled by expensive human advisors, triggering sharp declines across several legacy financial firms a…