Hamilton the Broadway musical has been the hit of the New York stage for several years now. Even before his hip-hop reinvention, we at blooom shared some sensibilities with our founding father. Here are the Top 5 Alexander Hamilton traits we live when providing 401k help:
Alexander Hamilton Was an Innovator
When there was recent talk of removing Hamilton from the $10 bill, it was no surprise that there were a number of supporters who reached out to the press to challenge the move. Hamilton is rooted in the origination of several of our country’s financial and business institutions.
In addition to serving as our first U.S. Treasury Secretary, Hamilton co-founded the Bank of New York, which still lives on today as BNY Mellon. The bank’s stock was among the first to be traded on the New York Stock Exchange. His strategies were also instrumental in the formation of interest-paying bonds, the chartering of a national bank and the first U.S. incubator.
Disruptive like Hamilton, blooom’s founders created a revolutionary online 401k app to fix the plans for EVERY American. The key distinction between blooom and other robo-advisors is that we are the only firm managing individuals’ employer-sponsored retirement accounts like 401ks and 403bs.
And, blooom clients also have access to unbiased professional financial advice beyond their 401k. Our goal is to provide access to help everyday Americans, not just millionaires who can typically afford financial advice. We do it for only $10 a month.
Alexander Hamilton Championed Transparency
In 1801, Hamilton started a daily federalist news sheet that eventually became the New York Post. At the time, Hamilton used the paper to voice his opinions publicly and attack conventional wisdom.
Transparency is no act for us, as blooom is a fiduciary. This basically means we are required to act in your best interest, not ours. We wish this was the case for all advisors in the good ol’ US of A, but it’s not.