Exclusive: Google's VC firm just led a $12 million Series A investment in Range, a startup that's training AI to give financial advice

The company is building out a suite of financial planning tools aimed at aging millennials and designed to help streamline investing, saving, and estate planning.For now each Range customer is assigned to a human advisor who can answer questions and give advice, much like any other wealth manager. The AI was able to synthesize what it knew about the clientsingle, high earner, not a homeowner, no student loansand parse hundreds of pages of White House statements and press reports in order to produce tips on how to best navigate new policy changes.In another case, a client was debating whether to invest in an RV park in Colorado as a source of passive income. While it might be able to perform thousands of calculations in the blink of an eye, it sometimes makes glaring errors that even an inexperienced planning professional would catch.The night before he spoke to Insider, Hassan said he was up until 2 am working with Ranges engineers to fix an issue that caused the AI model to double count properties with two mortgages on them. "But with each passing day, says Cusatis, and each rookie mistake corrected, the robot coworker gets a little smarter and the level of input needed from human advisors gets a little smaller.Range isnt the only player in the wealth management business trying to incorporate the power of AI. Robo-advisor Wealthfront currently offers AI-generated investment advice and can automatically direct users money to different ETFs and index funds.Range is arguably the most ambitious of these companies, aiming to fully replicate the conversational, person-to-person tone of a human advisor.