AI bots are excellent financial advisers. And they're free - AFR

Markets Equity Markets Investing Print article Aug 1, 2026 – 4.46am Everyone should have access to financial advice — and now they do. Just fire up your favourite AI chatbot, and at your fingertips is advice that’s as good as any human can provide, or better. The bot probably knows more, and it’s almost certainly less burdened by conflicts and biases. Chatbots are an earthquake for financial advisers, even if they don’t yet feel the tremors. Technology has already stripped brokers and fund managers of their once lucrative paydays, with online trading eliminating commissions and indexing slashing fund fees. Big banks and independent money managers have since pivoted to dispensing advice, the only place left to collect fees. The bots are now coming for that, too. Loading... Bloomberg Opinion Save Log in or Subscribe to save article Share Copy link Copied Email LinkedIn Twitter Facebook Copy link Copied Share via... Gift this article Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Login Read More Investing Opinion Sharemarket AI Financial planners Fetching latest articles