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blooom Provides Investors with a New Way to Build Your 401(k)

blooom Provides Investors with a New Way to Build Your 401(k)
blooomLogo_FF2014

This post is part of our live coverage of FinovateFall 2014.

Making its way to the stage is the team from blooom. Blooom has developed a revolutionary way to open 401k investors’ eyes and outsource the management of their 401k – regardless of where it is held.

“The blooom app collects basic user data (name, email, age) and asks the user to select where their 401(k) is currently held. Once selected, the user’s credentials are entered and blooom goes to work to analyze their current investment allocation across 25,000+ different funds to generate a comparative analysis without a bunch of financial mumbo jumbo. Blooom displays how their 401(k) should be allocated and gives the user some latitude to adjust the recommended allocation. In a few more steps, the user can then hire blooom to make these changes and, more importantly, rebalance and adjust the allocation for the user going forward. It is a new and intelligent way to get help with your 401(k) … all for just $10 per month.”
Presenting: Chris Costello (Co-Founder & CFP) & Randy AufDerHeide (CTO & Co-Founder)
blooomHomepage
Product Launch: September 2014
Metrics: $200,000 in funding from founders; 6 employees, 30 clients
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions
HQ: Overland Park, Kansas
Founded: February 2013
Website: blooom.com
Twitter: @blooominc