New in April 2025: TaxIQ Upgrades, Bank Sweep Program Updates

Tax strategies and cash management got a meaningful upgrade in April. Explore what’s new with TaxIQ and bank sweeps—built to help advisors do more with less effort.

TaxIQ Upgrades for Smoother Transitions

Our TaxIQ suite just got a major upgrade. 

• Tax Sensitivity will now help better defer gains on out-of-portfolio holdings for more efficient transitions. 
• Tax Loss Harvesting (TLH) has now become more aggressive, capturing even smaller losses to make the most of recent volatility. 

Click here to read more about TaxIQ and discover how Altruist makes optimizing your clients’ tax savings as easy as toggling a button.

Better Bank Sweeps, Same Great Yield 

In April, we implemented an update to Altruist’s Bank Sweep Program to ensure that account balances are allocated more efficiently across our network of partner banks. This change helps optimize the distribution of FDIC insurance coverage, while maintaining the same interest earnings clients expect.

As a result of this update, some accounts—including High Yield Cash (HYC) and others opted into the bank sweep program—received an intra-month interest payment. This payment reflects month-to-date interest, with the remaining interest paid at month-end as usual. Importantly, the total interest earned for April is not affected and aligns with the account’s stated rate: 4.00%* for HYC and 0.20% for standard bank sweeps.

These enhancements are part of our ongoing efforts to optimize how client cash is managed—keeping it secure, productive, and aligned with their goals.

*APY is variable and subject to change.