Altruist CEO Jason Wenk has said that the firm is ‘here for advisers' after the launch of its latest artificial intelligence (AI) tool sent the UK wealth management market into a spin.
US-based wealth platform Altruist's tax planning AI tool Hazel launched on Wednesday this week (10 February) and sparked a US broker and wealth management sell off later felt in the UK. St James's Place (SJP), AJ Bell and Quilter were among those in the UK wealth management space that saw shares dip as much as 13%, 7% and 5% respectively the day after Altruist's launch. UK wealth management firm shares have been recovering today (12 February). At the time of reporting, SJP shares are up by 1.12% trading at 1, 271p. AJ Bell shares are up by 3.48% at 434p and Quilter's are up 1.73% a...
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