Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.
Blooom Automated Investing
Fees
$120 – $295 annually
Investment Types
Index funds
Blooom Automated Investing
Fees
$120 – $295 annually
Investment Types
Index funds
Details
Fees
$120 – $295 annually
Pros & Cons
Highlights
Additional Reading
Overall rating
Is Blooom right for you?
Blooom is best for passive investors who want their retirement accounts managed for them. This investment platform offers personalized robo-advice for an array of retirement plans, including IRAs, 401(k)s, 401(a)s, 403(b)s, 457(b)s, and thrift savings plans.
If you like the idea of having access to human financial advisors, this platform also lets you ask experts questions through live chat or email. And even if you aren’t sure that Blooom is right for you, the company provides free investment analysis for your 401(k) and other retirement accounts.
Blooom vs. Betterment
Blooom and Betterment both have automated investing options for those who who prefer professional portfolio management. But Betterment is a stronger choice if you’re looking to automate both general investment accounts and IRAs.
It’s also a good choice for crypto-minded investors since it offers four different crypto portfolios. Each portfolio gives investors exposure to 20-23 different cryptocurrencies.
Blooom strictly supports retirement accounts, so it’s mainly ideal for those with IRAs or employer-sponsored plans.
Blooom vs. SoFi Invest
Compared to SoFi, Blooom falls short when it comes to fees. Both offer access to human advisors, but, once again, Blooom’s products are strictly for those with retirement assets.
SoFi is a better option for investors of all types. The platform offers both self-directed trading and automated investing, and its investment selection features stocks, ETFs, and cryptocurrencies.
Ways to invest with Blooom
Retirement accounts
Blooom supports both IRAs and employer-sponsored plans, and it executes trades on your behalf. The automated advisor also offers personalized management for 401(k)s, 401(a)s, 403(b)s, 457 (b)s, thrift savings plans, and IRAs.
In addition, the investment broker has no minimum account size requirements, and it charges flat annual fees for its advisory services. Blooom’s three pricing options — Personalized Portfolio, Advisor Access, and Financial Consulting — have fees ranging from $120 to $295. According to Blooom’s website, each plan includes research and portfolio design, risk allocation and management, fund diversification, and minimized investment fees.
But when it comes to IRAs, there’s a catch.
While Blooom says it can offer investment recommendations for Vanguard, Charles Schwab, and TD Ameritrade IRAs, it only manages IRAs held through Fidelity. If this brokerage is your IRA provider, Blooom supports traditional IRAs, Roth IRAs, spousal IRAs, nondeductible IRAs, SIMPLE IRAs, and self-directed IRAs.
Brokerage accounts
Blooom primarily manages retirement accounts. This means you won’t receive portfolio management for standard brokerage accounts. However, Blooom still lets you link brokerage and other accounts to your dashboard to keep track of your overall progress.
Blooom: Is it trustworthy?
Blooom has received an NR (“Not rated) status with the Better Business Bureau. The bureau says it doesn’t enough information to issue a rating on the company.
However, it’s important to note that the BBB says its ratings don’t guarantee a company’s performance or reliability. For this reason, it’s also best to do your own research before choosing an investment app.
Blooom’s record is currently clear of any major lawsuits or scandals. BBB data shows that the company doesn’t have any complaints.
Blooom — Frequently asked questions (FAQ)
Blooom offers automated portfolio management for a vast suite of retirement accounts. These include IRAs, 401(k)s, 401(a)s, 457(b)s, 403(b)s, and thrift savings plans. In addition, the platform gives you easy access to human financial advisors who can help with any of your investing questions.
Yes. Blooom only manages IRAs offered through Fidelity, but it also provides recommendations for IRAs held through Vanguard, Charles Schwab, or TD Ameritrade.
Yes. Blooom has an iOS mobile app that Apple users can utilize to access their investment accounts. Unfortunately, the company doesn’t offer an app for Android/Google Play users at this time.
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Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.
Blooom Automated Investing
Fees
$120 – $295 annually
Investment Types
Index funds
Blooom Automated Investing
Fees
$120 – $295 annually
Investment Types
Index funds
Details
Fees
$120 – $295 annually
Pros & Cons
Highlights
Additional Reading
Overall rating
Is Blooom right for you?
Blooom is best for passive investors who want their retirement accounts managed for them. This investment platform offers personalized robo-advice for an array of retirement plans, including IRAs, 401(k)s, 401(a)s, 403(b)s, 457(b)s, and thrift savings plans.
If you like the idea of having access to human financial advisors, this platform also lets you ask experts questions through live chat or email. And even if you aren’t sure that Blooom is right for you, the company provides free investment analysis for your 401(k) and other retirement accounts.
Blooom vs. Betterment
Blooom and Betterment both have automated investing options for those who who prefer professional portfolio management. But Betterment is a stronger choice if you’re looking to automate both general investment accounts and IRAs.
It’s also a good choice for crypto-minded investors since it offers four different crypto portfolios. Each portfolio gives investors exposure to 20-23 different cryptocurrencies.
Blooom strictly supports retirement accounts, so it’s mainly ideal for those with IRAs or employer-sponsored plans.
Blooom vs. SoFi Invest
Compared to SoFi, Blooom falls short when it comes to fees. Both offer access to human advisors, but, once again, Blooom’s products are strictly for those with retirement assets.
SoFi is a better option for investors of all types. The platform offers both self-directed trading and automated investing, and its investment selection features stocks, ETFs, and cryptocurrencies.
Ways to invest with Blooom
Retirement accounts
Blooom supports both IRAs and employer-sponsored plans, and it executes trades on your behalf. The automated advisor also offers personalized management for 401(k)s, 401(a)s, 403(b)s, 457 (b)s, thrift savings plans, and IRAs.
In addition, the investment broker has no minimum account size requirements, and it charges flat annual fees for its advisory services. Blooom’s three pricing options — Personalized Portfolio, Advisor Access, and Financial Consulting — have fees ranging from $120 to $295. According to Blooom’s website, each plan includes research and portfolio design, risk allocation and management, fund diversification, and minimized investment fees.
But when it comes to IRAs, there’s a catch.
While Blooom says it can offer investment recommendations for Vanguard, Charles Schwab, and TD Ameritrade IRAs, it only manages IRAs held through Fidelity. If this brokerage is your IRA provider, Blooom supports traditional IRAs, Roth IRAs, spousal IRAs, nondeductible IRAs, SIMPLE IRAs, and self-directed IRAs.
Brokerage accounts
Blooom primarily manages retirement accounts. This means you won’t receive portfolio management for standard brokerage accounts. However, Blooom still lets you link brokerage and other accounts to your dashboard to keep track of your overall progress.
Blooom: Is it trustworthy?
Blooom has received an NR (“Not rated) status with the Better Business Bureau. The bureau says it doesn’t enough information to issue a rating on the company.
However, it’s important to note that the BBB says its ratings don’t guarantee a company’s performance or reliability. For this reason, it’s also best to do your own research before choosing an investment app.
Blooom’s record is currently clear of any major lawsuits or scandals. BBB data shows that the company doesn’t have any complaints.
Blooom — Frequently asked questions (FAQ)
Blooom offers automated portfolio management for a vast suite of retirement accounts. These include IRAs, 401(k)s, 401(a)s, 457(b)s, 403(b)s, and thrift savings plans. In addition, the platform gives you easy access to human financial advisors who can help with any of your investing questions.
Yes. Blooom only manages IRAs offered through Fidelity, but it also provides recommendations for IRAs held through Vanguard, Charles Schwab, or TD Ameritrade.
Yes. Blooom has an iOS mobile app that Apple users can utilize to access their investment accounts. Unfortunately, the company doesn’t offer an app for Android/Google Play users at this time.
