Wealth Management Stocks Crater After AI Tax-Planning Tool Announcement

US Stocks Today | AI fears hit US wealth managers: Why stocks sank and what’s next

US wealth management and brokerage stocks sold off sharply after an AI-driven tax-planning tool raised fears that automation could disrupt advisory revenues. Investors worried about fee pressure and weakened business moats, though analysts argue established firms retain advantages, and the reaction may be overdone.

Wealth Management Stocks Crater After AI Tax-Planning Tool Announcement

Wealth Manager Stocks Sink as New AI Tool Sparks Disruption Fear

AI Wealth Tools Test Charles Schwab’s Advisory Model And Valuation

Altruist has launched an AI powered tax planning platform that automates core advisory tasks such as tax analysis and client communication. The launch has been followed by a broad selloff in wealth management stocks, as investors reassess how AI tools could affect traditional advisory models. For firms like Charles Schwab (NYSE:SCHW), the news is raising questions about how much of the advice value chain could eventually be handled by software. …

UK wealth managers endure share price plummet amid AI tool fears

Shares in some of the UK’s largest wealth managers tumbled on Wednesday, as investors grew concerned about the potential competitive pressure from a new AI-led investment tool. Britain’s biggest wealth group, St James’s Place, suffered a 12.7 per cent drop, trading at 1,265 pence, after US-based wealth management platform Altruist launched a tool to help financial advisers personalise clients’ investment strategies. The development from the Los …

St. James’s Place share price sinks 9% as AI jitters hit wealth managers again

St James’s Place shares dropped about 9% to 1,318 pence in early London trading Wednesday, extending a two-day slide amid renewed fears over AI-driven disruption in financial services. The selloff follows similar moves in U.S. brokerage stocks after new AI tax tools were announced. Investors await the group’s Feb. 25 results for updates on client flows and cash returns. The post St. James’s Place share price sinks 9% as AI jitters hit wealth man…