Yahoo Finance 
The new Facebook chatbot that'll revamp your finances
Financial advisers aren’t looking so good following the Royal Commission, but that doesn’t mean Aussie savers need to go it alone.
Thanks to micro-investing platform Raiz Invest, savers and investors can now use a new Facebook chatbot, Ashlee, to help them reach their goals.
Also read: What $1 million buys you around Australia
Described as a “personal fitness coach” for finances, Ashlee will provide real-time responses to questions about spending on shopping, entertainment and dining.
She’ll even be able to tell savers whether they can afford a fancy night out by predicting future cash balances using historic spending patterns.
“The Royal Commission into financial services will cause a significant reduction in the number of financial advisors and consultation costs will increase,” Raiz Invest managing director, George Lucas, said.
“The average Australian will find it more difficult and expensive to get financial advice.”
“Ashlee is designed to fill part of this gap and will improve over time. Her investment and spending tips are instantly available, providing customers with bite-sized financial assistance when they need it most via their mobile phone.”
Powered by artificial intelligence tech, Ashlee is able to give users personalised advice and will eventually be connected to Google Assistant and Siri.
“Ashlee will help young Australians engage with their financial future by providing instant financial assistance when they need,” Lucas said.
“This will give millennials the freedom to make better financial decisions for the future.”
Also read: New modelling by CBA forecasts Sydney property values will fall 10%
Other finance chat bots for Aussies
Aussies saving for retirement now have a smorgasbord of chatbot options to help them achieve their goals.
Consumer advocate group, Choice, last year launched its avocado themed chatbot, Cado which encourages young Aussies to offset the price of their smashed avo breakfasts by consolidating their superannuation accounts.
Superannuation consultant, Mercer, is also using its chatbot, SuperBot to engage with the “smartphone generation”.
Roger, REST Industry Super’s bot, hopes to bring superannuation to younger Aussies’ attention, while NAB’s virtual bankers address savers’ questions.
Aussies can even ask chatbots to help them with their tax, using TaxBot. Developed by accounting firm mi-fi and chatbot consultancy inGenious AI, TaxBot is a registered tax agent which works with the Australian Tax Office’s systems.
Or, they can turn to RoboChat for help with their home loan applications. The UBank chatbot answers questions about the application form and general loan queries.
*Raiz Invest was formally known as Acorns. Raiz currently has a customer base of 172,000 Aussies, with the majority under 35 and allows its users to regularly invest either small or large amounts through its micro-investment platform.
