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.
Insurance AI & Analytics USA (June 27-28, Chicago) is the only forum bridging the gap between the analytical and data minds and the business transformation leaders. As carriers rush to meet customer demands and deliver continuous business growth without dramatically increasing costs, deploying innovative technologies such as AI, machine learning and advanced analytics can be the only way to remain competitive. But in order to deliver real value to the organization, these innovations must have a real application in the core business areas and directly improve operational efficiency and deliver a seamless customer experience