Charles Schwab stock price sinks about 7.5% as Altruist’s Hazel AI tax tool spooks brokers

NodeGuardian · 2026-02-14T06:43:22+00:00

Charles Schwab's stock fell sharply after Altruist launched an AI tax planning tool, raising fears of automation's impact on brokerage jobs. Other firms also experienced declines, despite Schwab's reported rise in retail trading activity.

NodeGuardian

2026-02-14 06:43:22

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Charles Schwab’s stock price dropped significantly after Altruist introduced an AI-powered tax planning tool, raising concerns that automation could disrupt advisory roles in the brokerage industry. Other brokerages like LPL Financial, Raymond James, and Morgan Stanley also saw declines. This development comes despite Schwab reporting an increase in retail trading activity in January, highlighting the market’s sensitivity to technological advancements in financial services.

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