Category : press

Thanks 1 Billion Clients

Blooom Reaches $1 Billion in Assets Under Management

“Wall Street has made a habit of running in the opposite direction of investors with small accounts…maybe we should build something and run towards them.”

This was written in email from Kevin Conard, my co-founder to me late one night back in January 2013. Four-and-a-half years later that idea has evolved into a company – blooom – and we are proud to announce that we have grown faster than virtually any other robo-advisor. Blooom now manages more than $1 billion of retirement accounts for our clients.

Specifically, thousands of people from all across this country have trusted blooom with what is likely their most important and potentially most valuable financial asset – their employer-sponsored retirement account, or 401ks/403bs, as they are so strangely named.

If you’re a blooom client, I want to thank you for believing in us and starting this journey of bettering your retirement and financial situation together. The entire blooom team works hard every day to help you reach your financial goals.

Every time we receive a message of gratitude from one of our clients, we share it with the team and … everyone gets to work the next day with a sense of pride that they are truly helping people and striving to achieve greatness. Thanks to everyone once again. We will continue to provide our helpful service to all of you — in good times and bad.

Speaking of pride. We also take pride that this Kansas-based company reached the milestone faster than both Betterment or Weathfront – while doing so on a fraction of the capital. They’re peers not so much from a comparable service offering but in that they’re a benchmark for other robo-advisors. In other words, out of the gates, we have grown faster on fewer resources, as one should expect from someone managing their money.

Blooom was started in 2013 to help the traditionally un-helped.

We felt – and continue to feel — that it isn’t fair that the people who needed the help from the financial services industry the most were the least likely segment of the population get it.

You’ve done the hard part: You started saving for you retirement. Thanks for letting us do the rest.

If you haven’t already read blooom’s manifesto — here’s WHY this is all so important to us:

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Ep. 269 Dough Roller Blog The Money Podcast

Dough Roller Blog: Blooom Helps Your 401k for $10 a Month

CEO and Co-Founder Chris Costello appears on Rob Berger’s Dough Roller Blog “The Money Podcast” to discuss how blooom helps people manage their workplace retirement accounts. Whether it’s a 401k, 403b or T.S.P., we automate the process of selecting and rebalancing your investments.

In the interview, Chris gives an update on recent pricing changes and service offering enhancements at blooom. First, Chris discusses the reasons for the shift toward the low, flat rate of $10 a month.

In addition to the retirement account automation, we also now offer financial planning advice to our clients. They can chat with a representative with financial questions or important decisions. Chris and Rob discuss the feature and how the reasons for blooom’s founding helped shape the advice service offering. Regardless of whether it’s tough choices when saving for a college or deciding on a home purchase or refinance, we can help.

Want to hear the podcast in its entirety …

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Blooom Announces Financing AUM Record

Blooom Raises $9.15 in Series B Financing, Achieves AUM Growth in Record Time

One of the Midwest region’s Top Startups to Watch in 2017, blooom landed a round of financing to help millions of Americans improve their retirement savings.

“We are grateful to have had the opportunity to handpick some of the nation’s smartest fintech investors, who will help us in blooom’s mission to help a large segment of underserved Americans manage their retirement savings,” said Chris Costello, blooom co-founder and CEO in a release. “This Series B will allow us to reach hundreds of thousands of hard-working people across this country who have never received help with what may end up being their single most important financial asset: their 401k or 403b.”

And the news of the financing comes at the time of another major milestone, as Blooom continues to see outsized organic growth. The company announced today that it has raced past $500 million in AUM, becoming one of the fastest independent robo-advisors ever to reach this mark. Blooom achieved this milestone faster than Betterment and Personal Capital — on a tiny fraction of the capital.

Read the full article from Startland News.

You also can read the entire press release.

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