Blooom Reviews

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Blooom.com Review

Blooom.com is an online investment management platform that focuses on providing quality 401(k) management services. It was created with the mission of democratizing access to personalized financial advice, especially for people saving for retirement. With blooom.com, users can easily optimize their 401(k) portfolio by offering personalized recommendations and professional advice to improve their retirement savings.

Pros and Cons

• Pros:
• Customized 401(k) investment options
• Low annual fees and investment costs
• Robust customer support
• A solid reputation for quality service delivery
• Cons:
• Investment management services are restricted to retirement savings only
• Non-intuitive website design
• No access to mutual funds, individual stocks, or bonds, which limit investment options

User Experience

Blooom.com offers a seamless user experience. Setting up an account is easy, and users can quickly link their 401(k) from thousands of participating employers. From opening an account to managing your investments, the process is intuitive and customer-focused. The dashboard?s design is clutter-free and easy to navigate, making it easy to access features such as account balances, transaction histories, current holdings, and performance tracking. With blooom.com, users have access to a plethora of tools to help them make informed investment decisions.

Pricing and Value for Money

Blooom.com charges $120 per year for its services, which is a flat rate regardless of the account size. This fee includes investment advice by a fiduciary, personalized recommendations, 401(k) account optimization, and continuous monitoring of the account to ensure that the user's investment goals are met. Blooom.com?s low fees and expert advice make it an attractive choice for retirement savers looking for value for money.

Alternatives

Some of the alternatives to blooom.com include:

• Ellevest
• Wealthfront
• Betterment
• Vanguard

Customer Service

Blooom.com provides excellent customer service. Its support office is available via email or through toll-free numbers on weekdays. The support team is well-versed in the platform's intricacies and is readily available to address any concerns that users may have. The platform also has regional representatives that can provide in-person guidance to users that need extra assistance.

Product Quality and Selection

Blooom.com?s product quality and selection are limited to monitoring and managing user's 401(k) retirement savings only. The platform does not offer access to mutual funds, individual stocks, or bonds, which limits investment options. However, it offers personalized investment advice by a fiduciary, investment optimization tools, and risk management analysis that make up for the platform's lack of product selection.

Website Usability

Blooom.com?s website design is not as intuitive as other robo-advisors. The platform offers a simple design with all the necessary tools and account updates available on the user's dashboard. Overall, the website usability is decent, with an excellent user experience; however, there's significant room for improvement in the website design.

Returns and Exchanges

Blooom.com does not accept returns or exchanges as there are no products or physical items associated with the platform's investment management services. However, it offers professional investment advice and recommendations to optimize the user's 401(k) portfolio.

Promotions and Discounts

Blooom.com has an attractive user referral program that offers users $10 for every new account their referral signs up to join. There are no other promotions or discounts available on the platform.

Reputation

Blooom.com has an excellent reputation in the investment management industry. It has received positive reviews from renowned publications, including Forbes and Barron's. The company boasts of having over $10 billion in assets under management, which is a testament to its service's quality and reliability.

Payment Options

Blooom.com supports various payment methods, including credit cards, bank transfers, and debit cards. Users can choose the payment method that is most convenient for them.

Loyalty Programs

Blooom.com does not offer any loyalty program as its focus is mainly on personalized investment advice and 401(k) optimization services.

Customer Reviews

Blooom.com has received numerous positive customer reviews, most of which highlight its excellent customer support, low fees, and personalized investment advice. Customers recommend the platform for individuals looking for quality 401(k) investment management services.

Community Involvement

Blooom.com is not actively involved in community projects or initiatives. The company's focus is on providing quality investment advice and optimization services to its users.

Shipping and Costs

Blooom.com?s services do not involve any physical products or shipping; hence there are no shipping costs associated with its services.

Final Thoughts on Blooom.com

Blooom.com is a top-tier retirement investment management platform that offers personalized 401(k) portfolio optimization services. Its low fees, professional investment advice, and continuous account monitoring make it an attractive option for individuals looking to achieve their retirement goals. Although it has some shortcomings such as limited product selection and non-intuitive website design, blooom.com is an excellent investment management platform that offers value for money.