Blooom helps manage 401(k)s and other retirement plans in addtion to IRAs. This robo-advisor helps users with retirement while offering services at a reasonable cost.
InvestBlooom picks the funds in your 401k that follow your retirement goals while also reducing hidden fees.
Blooom makes money by charging fees to users. Blooom charges $10 per month for all accounts. This is a very low rate for retirement account management.
Blooom is limited to the amount of funds available in an individual's retirement plan. There is no guarantee Blooom can or will reduce an individual's fund expenses. Blooom relies on the ability to receive updated account and transaction information. Blooom does not guarantee they will be able to provide account monitoring and withdrawal alerts to all accounts.
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