Blooom Retirement Plan Analysis and Investment Manager

  • Blooom is a unique service helping you manage your employer-sponsored retirement plans no matter where you work or where the plan is held.
  • Get a free analysis of your 401(k), 457, 403(b), and 401(a) and select IRAs and learn about your asset allocation and fees.
  • No account minimums to sign-up.
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Blooom stands out from the other robo-advisors by focusing on managing retirement plans such as 401(k)s and some IRAs. With Blooom, you have the option to maximize your returns just like you would with your general investing accounts.

Do you feel confident about your retirement investing choices? You’re not alone. With Blooom, you get access to technology and seasoned financial advisors to help you reach your financial goals.

What is Blooom

Blooom is a robo-advisor that manages 401(k)s and other workplace retirement plans and some IRAs too. There’s no minimum account balance and the option to pay a reduced flat annual fee, Blooom offers a unique service at a reasonable cost. Blooom is an SEC Registered Investment Advisor.

What are Registered Investment Advisors (RIA)? RIAs are held to the highest standard when it comes to financial advice also known as a fiduciary. The obligation of a fiduciary advisor is to always place the interests of clients above advisors’ benefit.

The true benefit of Blooom is how it can help you minimize the fees you pay into your plan.

Want to see how Blooom can help you? Try the free analysis on your existing 401(k) and select IRAs.

Free 401(k) Analysis

Most people don’t think about their 401(k)s. You simply make your elections and contributions and forget the rest. But that may actually cost you a good deal of money. With Blooom’s financial analysis you can see how your fees and asset allocations compare with its recommendations.

The free analysis gives you an insight into ways to improve your 401(k). You can sign up for the paid service to manage your plan or take the recommendations and do it yourself.

How Blooom Works

Blooom manages any 401(k), no matter where the account holder works or where the account is held. This includes 401(k), 403(b), 457, and TSP plans. And there’s no need for your employer to have a partnership with the service to access the tools.

Unlike typical robo-advisors, Blooom does not take custody of your retirement plan. They simply act as your investment management service.

It’s important to note that since Blooom works with your existing plan, it can only recommend investment options based on that plan. However, it will analyze the best assets that are best for your situation with consideration to lowering fees.

After signup, the first step is the free 401(k) analysis.

Features & Benefits

  • 401(k) Management – no matter where you work or where the account is held.
  • IRA account management – your IRA or Roth IRA must be held at Vanguard, Charles Schwab, or Fidelity
  • No account minimums – managed retirement accounts regardless of balance.
  • Expense audits – find ways to lower the fees associated with your investments.
  • Financial advisors – access advice through email and online chat including registered investment advisors.

Fees & Pricing

There are currently no fees to use Atom Finance.

  • 401(k) analysis: $0
  • Essentials: $45 per year
  • Standard: $120 per year
  • Unlimited: $250 per year

Each tier of service provides enhance services and tools:
Personalize portfolios, placing trades, withdrawal alerts, advisor access, and priority advisor access.

Who is it best for?

Blooom doesn’t have any direct competitors. It is a one of kind service.

If you have a 401(k) plan or a support IRA account, then the free analysis may give you insights to improve your retirement portfolio. Anyone can take advantage of the service.

If you want a sizeable retirement plan, the Standard plan may be a bargain to have Blooom place trades in your behalf and get access to financial advice for your retirement plan and any other financial question.

How to start using Blooom

Time needed: 5 minutes.

Step-by-Step to opening an account with Blooom

  1. Getting started
    Start with a free investment analysis by clicking here.
  2. Enter your personal information and retirement accounts
    Build your custom retirement dashboard
  3. Access your recommended investment strategy
    Receive your personal account analysis.

Additional information

Key Features

Financial Advisor Access, Portfolio Analysis, Retirement Planning

Minimum Deposit

$0

Fees

Tiered Annual Plan

Upgraded Service

Premium Option Available

Average Rating

4.00

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1 Review For This Product

  1. 01

    by Jason Vitug

    Blooom Review: Is it worth it?

    To complete this Blooom review, I tried out the service on my qualified IRA plan with Vanguard. It wasn’t surprising to me that I was doing quite well with my investments and there weren’t many optimizations needed. But I did enjoy seeing how financial technology would assess my asset allocation and the fees.

    Pros and Cons

    Pros
    ✓ A really good and free 401(k) portfolio analysis
    ✓ Manage your employer-sponsored plan
    ✓ Helpful information for hands-off investors

    Cons
    ☓ The focus is a long-time horizon (retirement) so it lacks changing risk tolerances.

    Should you try Blooom?

    I would recommend trying the free analysis just to see how your retirement plan is working for you. For a free service, it’s quite extensive and robust and the enhancements offered can be completed by you without needing to sign up for the service. However, if you really want someone else working for your retirement goals, then paying the annual fee may definitely be worth every penny.

    Overall, Blooom is that much-needed robo-advisor that is specifically helping you understand and manage your 401(k) and those select IRAs. Try out Blooom’s free analysis here.

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