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Andrew Altfest

Financial Planning > Trusts and Estates > Estate Planning

FP Alpha Adds Automation Features to Estate Lab Platform

By John Manganaro

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FP Alpha, the wealth management technology firm, has made a series of enhancements to its Estate Lab offering, a central component of its estate planning module for financial advisors.

The updates deliver new estate planning capabilities for financial advisors, according to the firm, including features to help them better project and quantify long-term asset growth during the legacy planning process.

“In light of the upcoming changes to the Tax Cuts and Jobs Act, these enhancements are timelier and more impactful than ever,” Andrew Altfest, CEO of FP Alpha, said in a statement. “The ability to project and quantify asset growth provides both advisors and clients with valuable insights for future estate planning decisions.”

The new projection capabilities allow users to input custom growth rates per asset and project balances over time, according to the announcement. This should allow advisors to provide clients with a clearer picture of how asset growth could affect estate tax liabilities — and the amount of wealth passed to heirs.

Another new capability allows advisors to automatically input joint cases in the platform’s estate snapshot feature, complementing the existing automations for managing plans across revocable trusts, wills, powers of attorney and health care directives.

Overall, Altfest said, the enhancements streamline the estate planning process, enabling advisors to deliver more precise and tailored estate planning solutions to their entire client base — not just the wealthiest.

“As more clients seek estate planning assistance from their advisors, it’s crucial to provide dynamic and visually appealing deliverables,” added Rachel Schwab, director of product at FP Alpha. “These updates not only improve the overall client experience but also enhance the advisor’s ability to present complex information in a fast, accurate and efficient manner.”

Credit: Adobe Stock

John Manganaro

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