From AI euphoria to AI panic | Count Finance's Laura Cornely comments on the sharp sell off in Wealth Management stocks

Thoughts on Altruist, AI and the Wealth Stock Selloff

Altruist's Hazel tax planning tool debut sent shockwaves through financial markets as investors fled traditional wealth management firms, signaling broader industry disruption ahead.

What is Altruist? The AI start-up shaking up wealth management in Britain

Shares in UK wealth management firms fell sharply this week following the launch of a new AI-driven tax planning tool by Los Angeles-based start-up Altruist, underscoring growing investor anxiety about how artificial intelligence could reshape the advisory sector. The share slump, which extended across both sides of the Atlantic, has prompted even established firms to question how quickly they can adapt to the technology. On Tuesday, shares in S…

From AI euphoria to AI panic | Count Finance's Laura Cornely comments on the sharp sell off in Wealth Management stocks

Artificial intelligence has fallen from hero to hazard in record time, says Laura Cornely, Director at Count Finance. After news of the launch of an AI tax planning tool, shares in SJP fell 12 % yesterday, with Quilter and AJ Bell shares also suffering the impact. In the following analysis, Laura looks under the bonnet at what’s been going on in the markets in recent days, and why it’s so relevant for the future of wealth management. Until recen…