AI sends another tremor through stocks from Marketplace. I'm Sabri Beneshore in for David Bruncaccio.

AI has been coming for one industry after another recently. Last week, new AI tools threatened to make

software firms obsolete. Their shares sank. Then it was insurance brokers. Same story.

The latest example is in

finance, specifically brokerages that help people invest and do financial planning. A new AI tool

from a startup called altruist promises to automate tax planning. Shares of Charles Schwab,

Raymond James, Ameriprise are all down 5 to 10% in the past five days.

Marketplace's Nova Saffo has more.

The new AI application from Altruist is set to ingest documents like tax forms, pay stubs, and notes,

and spit out tax planning advice, traditionally a function of a financial advisor.

The AI is reducing the cost of intelligence.

Thomas Schuster is research director at IDC Financial Insights.

When intelligence gets cheaper, you know, the margins shift within the ecosystem.

And so it is by definition, I think, you know, highly disruptive.

So which companies might get walloped?

Sean Dunlop at Morningstar says it's hard to say.

Investors have been looking to see what firms they think might be exposed to AI disruption,

and that has been pretty wide-ranging.

But it's not clear firms are facing a serious threat at all.

In part because we've seen this movie before,

financial advisors have offered automated options for at least a decade, but clients haven't

used them much, says Dunlop. You're looking at, you know, somewhere between 2 and 4% penetration of

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