US-based robo advice firm Blooom has passed more than $1 billion in assets under management.
The firm, launched in2013, aims to help investors navigate the enormous 401(k) market or comparable employer-sponsored retirement plan.
“We set out to build technology that would help people that Wall Street wouldn’t,” said Chris Costello, CEO and co-founder, blooom. “When I was a traditional financial advisor, my parents wouldn’t have qualified for our services.”
“This notion that people must qualify for financial help has consumed me and blooom’s co-founders since day one. The $1 billion AUM milestone is validation that we’re helping people add years to their retirement.”
The company has raised a total of $13.2 million in funding.
Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.