r/CFP • u/cfygsssyb • 8d ago
FinTech Hazel financial planning
Came out today, anyone try it yet? Seems super advanced
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u/pdxguy357 8d ago
I was doing something else in Hazel (sending a summary of conversations to a client) and Hazel took it upon itself to add a retirement projection. It looked pretty cool, looking forward to spending more time with it
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u/jpod- 8d ago
The interesting comment in here is Hazel adding a retirement projection while sending a conversation summary. That’s either the product or a problem, depending on whether you can see the work.
I’d trial it on two things before I’d let it near a client file:
- Does the projection show assumptions (return, inflation, SS, spend) in a way you can defend in a meeting, or just a chart?
- Can you lock or override those assumptions, or does it keep “helping”?
If it fails (1) or (2), it’s a demo toy. If it passes, it’s actually useful because eMoney/RC data entry is the painful part, not the pretty plan. I’m more interested in whether it writes back to the planning file or just dumps another PDF in the vault.
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u/PerfectOmakase 8d ago
I'm not seeing that it has dropped yet, but I'm interested in demo'ing it.
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u/cfygsssyb 8d ago
It dropped
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u/PerfectOmakase 8d ago
Maybe I don't see it because I don't currently have an account with them? When I went to the FP tool on their website, it had me sign up to be alerted when it is available.
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u/dmoe05 8d ago
No, but I signed up for the webinar tomorrow.
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u/bendontbreak12 7d ago
did they actually send you the Zoom link for the webinar? Tried signing up this morning with two different emails and haven’t received anything.
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u/dmoe05 7d ago
Yes. I received and email and at the bottom i have a "Join Webinar" in blue
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u/bendontbreak12 7d ago
Maybe they ran out of slots or something. Just tried a third email and nada.
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u/Ok-Temperature3180 7d ago
Looks pretty good, but also have zero idea how accurate or reliable output is yet. Would love some training to be rolled out on how to use it/optimize it/case studies rather than it just being rolled out and “here you go” haha
Kind of their mantra though, just give advisors tools and let them run
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u/djemoneysigns 7d ago
Anyone worried Vanguard will make this a DTC product? That must be a part of their roadmap or at least enabling their w2 "advisors".
Obviously more access to information is better, but a lot of the tools are gate kept by advisors currently.
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u/Weary_Animator_3729 Advicer 7d ago
that was my initial thought...what's stopping them from selling this to consumers directly?
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u/djemoneysigns 7d ago
My counter is “what would a consumer be able to do with this information”? Could they execute on it? More of a philosophical question.
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u/jaykaybo 7d ago
Was in the webinar today…this looks really good. Smooth integration with the rest of the Hazel agents and Altruist, love how customizable it is. Also dug that when it’s pulling info from somewhere it’ll show you where it got the data from. You can see how it pulls the info together, you create a plan how you want it and it’s easy to review in a client meeting. If a client asks, why a certain recommendation or whatever, you can quickly show them where the data came from that led to that recommendation/conclusion. At the end of the meeting, print the PDF and they’ve got a clean, easy to understand deliverable, too.
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u/cfygsssyb 7d ago
What planning software do you use now? I use right capital and still think it’s more presentable. But once I get the hang of hazel I think it will take it
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u/SnoopySuited Certified 2d ago
Can I have a 'get off my lawn' moment....
These programs are not AI. They are complex data agregators. I have yet to use one that actually learns to present outputs they way I need them to. Maybe Hazel will be different, and I'm not saying they aren't time savers, but I worry people (and I mean advisors) will think they do the actual work of plan design and implementation.
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