Blooom Review – Best 401k Robo-Advisor Investment Manager

Blooom Review – Best 401(k) – Robo-Advisor

Want to make your retirement account work harder and earn more money for you? Then, Blooom investment robo-advisor might be the solution.

Blooom Inc. was founded by a few investment management guys who want to democratize your retirement investment accounts, so that you get professional help with your 401(k). They combine their expertise to manage your 401(k), 403(b) or TSP while it remains in your employers plan.

Fast Company named Blooom one of the world’s most innovative companies and CEO Chris Costello was selected as one of “Ten to Watch in 2016” by WealthManagement.

Knowing what’s in your 401(k) and investing it correctly is hard. So is understanding the 401(k) fees that you’re paying. That’s where bloom shines. It only takes 5 minutes for Blooom to evaluate your retirement account.

Blooom even offers access to financial advisors, for your finance related questions. And the question doesn’t even need to relate to your 401(k)!

Blooom is Not Your Typical Robo-Advisor.

Blooom is different! Blooom does only one type of investment management – this  robo-advisor only manages your retirement 401(k), 403(b) or TSP. You keep your account where it is, with the employer, pay Blooom a small monthly fee, and they optimize your account to minimize fees and improve returns.

Learn all the deatils in this Blooom robo-advisor review. We fairly evaluate the Blooom pros and cons. With fair and transparent fees and sound investment management, there’s a lot to like from Blooom’s retirement account manager.

Blooom Robo-advisor Features at a Glance

OverviewAutomated investment management robo-advisor for your 401(k), 403(b) or TSP.
Minimum Investment AmountNo minimum. Manages the existing money in your work retirement account.
Fee Structure$10 per month.
Top FeaturesDigital access to human financial advisors. Low Blooom investment management fees regardless of AUM.
Free ServicesFree retirement account analysis with general insights.
Contact & Investing AdviceAvailable by email, live chat, or phone.
Investment FundsManage the existing funds available through your employers retirement plan.
Accounts AvailableManage your existing 401(k), 403(b) or TSP.
Promotionsn/a

What Differentiates Blooom Investment Robo-Advisor from its Competitors?

Bloom Manages Only Your Retirement Account

Blooom is designed to give professional investment management to anyone with a workplace retirement account. The firm is laser focused on helping you build the best retirement nest egg possible by supervising the and adjusting investments within your 401(k) or other workplace retirement account.

Blooom doesn’t handle IRA’s, brokerage accounts or any account other than your workplace retirement account.

Blooom Free 401(k) Review and Analysis

I had my retirement account analyzed in minutes, for free and you can too. Just click below.

I enjoyed the speedy 401(k) investor questionnaire and the results of my 401(k) account analysis. Here is a taste of the Blooom free investment review. First, before you get started, you’ll need to create an account with a Blooom login. (Learn more about Blooom security below)

The risk tolerance and information questions encompass:

1. Your name, birth date, and expected retirement date.

2. Question about your existing financial accounts.

3. Your investing knowledge and understanding.

4. Three risk-related questions that get at how comfortable you’ll be with the ups and downs (or volatility) of your account value.

Next, you’re presented with a suggested asset allocation or mix between stocks (more risky) and bonds (less risky).

Next, I present login credentials to my 401(k) account.

After the analysis, I get the recommendations.

Blooom review free analysis results

There’s also a graph (not shown) that projects portfolio value at retirement, with three distinct scenarios.

As you can see, Blooom promises to reallocate my investments and lower fees.

But, since I’m a former portfolio manager, and I have 100% stocks in this account by design, the asset allocation portion isn’t quite relevant for me. I have a 62% stock 38% bond allocation in our family overall asset allocation, just not in this particular account.

Yet, the promise of lower fees and a reasonable asset allocation, was sound.

How Much Does Blooom 401(k) Cost?

Blooom Fees – Fixed ‘Netflix’ Pricing Model

Regardless of your account size, you pay only $10 per month for access to Blooom’s 401(k) or 403(b) account management. Unlike other robo-advisors who charge a percentage of assets under management (AUM), the Blooom 401(k) cost is transparent and simple.

Blooom fees are $10 per month, regardless of your account size. There may even be Blooom promos available.

All additional Blooom accounts are subject to a discounted rate. You can pay eigher quarterly or annually.

After I went through the Blooom 401(k) review, I was offered a reduced annual price to join.

Blooom Offers Digital Financial Advice for Any Money Question

Are you considering buying a dog, or a house  or paying off debt? Ask your Blooom financial advisor how that decision will impact your finances. Your financial advisor can respond to any of your finance related questions.

Who Benefits from the Blooom Robo-Advisor?


Most investors with a workplace retirement account can benefit from trying the FREE retirment account analysis. Unless you enjoy digging in, reviewing your asset allocation, comparing the fees for your available fund choices and periodically rebalancing your 401(k), you will likely benefit from Blooom.

Blooom is ideal if your retirement account is your primary investment account. The investment manager does a good job of diversification. If you have many other investment accounts, the Blooom model might not work as well for you.

The $10 monthly fee makes Blooom a tough offering to pass up. And if you want to make any changes or adjustments, you’re always free to do so, as you own the account.

Blooom Robo-Advisor Review – Drill Down

Retirement account investment manager Blooom manages your funds for the best diversification and lowest fees available within your plan. Blooom strives for diversification based upon the number of years until your retirement and your personal risk preference.

How Does Blooom Work?

  1. Blooom analyzes your current investments and fees.
  2. Using your answers to the questionnaire and best practices investment management, selects your appropriate asset allocation.
  3. Blooom reviews the available funds within your plan.
  4. Blooom crafts the right investment mix for you, based on your age, retirement date, risk tolerance, and funds available in your retirement account.
  5. Finally, Blooom manages your account to keep fees low and the diversification appropriate for you.

Blooom Investing

The Blooom diversification model considers the following asset classes:

Stock Asset Classes:

  • US large cap
  • US mid cap
  • US small cap
  • International developed market
  • International emerging market
  • Real estate
  • Commodities
  • Other stock asset classes

Fixed/Bond Asset Classes:

  • Corporate
  • Treasury
  • International Developed Market
  • Emerging Market
  • Treasury Inflation Protected
  • High yield
  • Money market
  • Stable value
  • Other

Before committing to the Blooom service, click below to try a free retirement account analysis.

Blooom 401(k) Management

Blooom regularly monitors and rebalances your account. Bloom uses technology and humans to maintain your investment account. So, the automated algorithm does the heavy lifting while licensed financial advisors occasionally check to ensure your account is balanced appropriately.

Free Blooom Robo-Advisor Sign-up Process

The sign up process couldn’t be easier. After answering the personal and risk related questions including:

  • Name
  • Birth date
  • Anticipated retirement date

Create a Blooom login with  email and password.

Link your 401(k), 403(b) or TSP.

After completing the sign up steps and reviwing the feedback on your asset allocation, fees, diversification, all you have to do is “become a member” and include your payment information.

Is Blooom Safe?

Blooom is a fiduciary investment advisor. This means that the company and its employees are required by law to act in your best interest, not theirs.

Their website is protected by top level security including:

  1. 256-Bit Encryption to ensure that your data remains private.
  2. Bank-level security.
  3. Secure servers.
  4. Third party verification. (They sent my cell phone a code, before I could login.)

Blooom Robo-Advisor Review Pros and Cons

Blooom 401(k) Robo-Advisor Pros

  • Fees are low and you can discontinue service at any time.
  • The sign up is fast.
  • Blooom does one thing only-manage your workplace retirement account. This simple approach is ideal if you have only one investment account.
  • The access to a financial advisor at this price point is outstanding.
  • There’s no long term commitment and you’re not moving your assets, so it’s easy to give Blooom a test drive.
  • Blooom investment selections and asset mix are based upon sound investing practice.

Blooom 401(k) Robo-Advisor Cons

  • Blooom isn’t great if you have many investment accounts. When creating your asset allocation, Blooom’s account analysis doesn’t take into consideration assets outside your workplace retirement account. This can lead to an unbalanced asset allocation.
  • The initial free account review is general and doesn’t factor in the actual funds and their fee structure offered in your plan. Thus their recommendations and overview are not specifically targeted to your particular situation.
  • For smaller account sizes, the $10 per month fee represents a greater percent of AUM than for larger accounts.
  • Customer service is available only online through chat, email and messaging.

Blooom Review Wrap Up – Is Blooom Legit?

Blooom’s DIFY or do-it-for-you retirement investment account management is a well-needed service for the the 90 million 401(k) and other workplace retirement account holders. As of November 2019 Blooom claims to have saved clients over $1 billion in investment fees.

Since Blooom is a registered investment advisor and fiduciary with outstanding security and a tested product, we can say with confidence that Blooom is legit.

This Blooom review recommends the robo-advisor to manage your 401(k) or other workplace retirement account, particularly if it’s your sole investment account. With Blooom, you can maximize your retirement account returns for a few bucks per month. That could lead to thousands of additional spendable dollars in retirement. Finally, consumers without investing experience or interest could benefit from this time-saving financial manager.

What have you got to lose? Click here and let Blooom give you a FREE retirement account analysis.

Updated November 1, 2019

Disclosure: Please note that this article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link. That said, I never recommend anything I don’t believe is valuable.

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