Blooom Review – Best 401k Robo-Advisor Investment Manager

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Learn how your retirement plan can earn more money in this Blooom Review.

Want to make your retirement account work harder and potentially earn more money for you? Then, delve into this Blooom Review and find out how this investment robo-advisor might be the way to lower fees and increase investment returns.

Blooom Inc. was founded by a few investment management guys who want to democratize your retirement investment accounts, so that you get professional help with your 401(k). They combine their expertise to manage your 401(k), 403(b), TSP, or IRA.

Knowing what’s in your 401(k) and investing it correctly is hard. So is understanding the retirement account fees that you’re paying. That’s where bloom shines. It only takes 5 minutes for Blooom to evaluate your retirement account – for FREE.

Blooom Inc. even offers access to financial advisors, for your finance related questions. And your money question doesn’t even need to relate to your 401(k)!

Consider Blooom your retirement account investment manager to yield the best available nvestment choices for you – invested in low fee funds.

*Disclosure: Please note that this article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link.

Blooom Review
  • Fees
  • Investment Choices
  • Ease of Use
  • Tool & Resources


Best for:

  • New to intermediate investors.
  • Anyone who wants to optimize their retirement account.



  • Financial advisor access
  • Affordable Fees
  • Free retirement portfolio review


  • Asset allocation tool doesn’t account for external accounts


Blooom is different! Blooom does only one type of investment management – manages your retirement 401(k), 403(b), TSP, and IRA accounts.

You keep your account where it is*, with the employer, for a reasonable annual price,

Blooom optimizes your account to potentially minimize fees.

Learn all the details in this Blooom robo-advisor review. We fairly evaluate the pros and cons. With fair and transparent fees and sound investment management, there’s a lot to like about Blooom’s retirement account manager.

Features at a Glance

OverviewAutomated investment manager or robo-advisor for your retirement account.
Minimum Investment AmountNone
Fee Structure per YearEssentials - $95
Standard - $120 
Unlimited $250
Top FeaturesAccess to financial advisors. Low fees, regardless of AUM. Only robo-advisor to manage workplace retirement accounts.
Accounts Available

Workplace retirement accounts- 401(k), 403(b), 403a, 457 or TSP.

All types of IRA accounts.
Investment Funds

Manage the existing funds available through your employers retirement plan.
Low fee ETFs in your IRA account.

Contact & Investing AdviceAvailable by email or live chat during normal business hours.
Financial advisors for Standard and Unlimited Plans.
Free Services and WebsiteFree investment account analysis and recommendations. 

Blooom Review – Is This Robo-Advisor Right for You?

If you have a retirement account, you can benefit from  the FREE retirment account analysis. Unless you enjoy digging in, reviewing your asset allocation, comparing the fees for your available fund choices and periodically rebalancing your 401(k), you will likely benefit from Blooom.

Blooom is ideal for the novice or intermediate investor who wants the best returns and the lowest fee investments in his or her retirement account.

Blooom is ideal if your retirement account is your primary investment account. The investment manager does a good job of diversification. If you have many other investment accounts, the Blooom model might not work as well for you.

The low management fees makes Blooom difficult pass up. And if you want to make any changes or adjustments to your account on your own, you’re always free to do so.

What Differentiates Blooom Investment Robo-Advisor from its Competitors?

Blooom manages only your retirement account.

In fact, Blooom has no direct competitors with the exception of Betterment’s 401k plan for employers.

Blooom provides professional investment management to anyone with a workplace retirement account or IRA account*. The firm is laser focused on helping you build your retirement nest egg possible by optimizing investments available to you within your retirement account.

Blooom offers a FREE retirement account review and analysis.

I had my retirement account analyzed in minutes, for free and you can too. Just click below.

I enjoyed the speedy 401(k) investor questionnaire and the results of my 401(k) account analysis – discussed below.

Fees – How Much Does Blooom Cost?

Blooom offers three levels, each with specific features and services.

Yearly Fee$45$120$250
Personalized PortfolioXXX
Auto Optimization XX
Withdrawal Alerts XX
Advisor Access XX
Priority Advisor Access  X

Personalized Portfolio:

  • Researches funds in your plan.
  • Chooses the optimal funds for your situation.
  • Minimizes hidden investment fees
  • Places trades (optional)

Auto Optimization:

  • Portfolio rebalancing – keeps investments on track with your preferred risk level.

Withdrawal Alerts:

  • Receive a text message if a withdrawal from your account takes place.

Advisor Access:

  • Ask a financial advisor your investment and money related questions. Receive a written response within 2-3 business days.

Priority Advisor Access:

  • Live chat with an advisor about all of your financial questions during normal business hours.
Blooom review free analysis results
Blooom Free Retirement Account Analsysi

How Does Blooom Work?

  1. Sign up in minutes by answering a few questions and creating your Blooom profile.
  2. Link your retirement account through the secure platform.
  3. Blooom analyzes your current investments and fees for FREE.
  4. Using your answers to the questionnaire and best practices investment management, Blooom crafts the right investment mix for you, based on your age, retirement date, risk tolerance, and funds available in your retirement account.
  5. Finally, Blooom manages your account to keep fees low and the diversification appropriate for you.

My retirement account analysis is shown in the image above.

There’s also a graph (not shown) that projects portfolio value at retirement, with three distinct scenarios.

There was a minor flaw in the diversification analysis.

Blooom recommended a more diversified portfolio, but I have 100% stocks in my retirement account by design. That’s because I have other accounts with more diversified assets that contribute to my 62% stock vs 38% fixed asset allocation.

It’s worth a few minutes to try the FREE retirement portofolio analysis at blooom.

Is Blooom Safe?

Blooom is a fiduciary investment advisor. This means that the company and its employees are required by law to act in your best interest, not theirs.

Their website is protected by top level security including:

  1. 256-Bit Encryption to ensure that your data remains private.
  2. Bank-level security.
  3. Secure servers.
  4. Third party verification. (They sent my cell phone a code, before I could login.)

Blooom Robo-Advisor Review – Drill Down

Retirement account investment manager Blooom manages your funds for the appropriate diversification and low fees within your plan. Blooom strives for diversification based upon the number of years until your retirement and your personal risk preference.

The Blooom diversification model considers the following asset classes:

Stock Asset Classes:

  • US large cap
  • US mid cap
  • US small cap
  • International developed market
  • International emerging market
  • Real estate
  • Commodities
  • Other stock asset classes

Fixed/Bond Asset Classes:

  • Corporate
  • Treasury
  • International Developed Market
  • Emerging Market
  • Treasury Inflation Protected
  • High yield
  • Money market
  • Stable value
  • Other

Before committing to the Blooom service, click below to try a free retirement account analysis.

Blooom Retirement Account Management

Blooom regularly monitors and rebalances your account. Bloom uses technology and humans to maintain your investment account. So, the automated algorithm does the heavy lifting while licensed financial advisors occasionally check to ensure your account is balanced appropriately.

The Blooom account optimization is available at the Standard and Unlimited levels.

Free Blooom Robo-Advisor Sign-up Process

1. Create a Blooom account with your email and a password.

2. Answer a few questions regarding:

  • Your name, birth date, and expected retirement date.
  • Your existing financial accounts.
  • Your investing knowledge and understanding.
  • Your comfort with risk. The questions delve into how comfortable you’ll be with the ups and downs (or volatility) of your account value.

Next, you’re presented with a suggested asset allocation or mix between stocks (more risky) and bonds (less risky).

3. Link your 401(k), 403(b), TSP or IRA.

After completing the sign up steps and reviewing the feedback on your asset allocation, fees, diversification, sign up and “become a member”.

4. Add your payment details to the secure site.

Account Minimum

There is no account minimum.

Account Types

Workplace Retirement Account Management

Blooom manages various types of workplace retirement and IRA accounts.

Blooom manages the following workplace retirement accounts:

  • 401k
  • 403b
  • 401a
  • 457
  • TSP

IRA Account Management

Blooom manages various types of IRA accounts that hare held at Fidelity or Vanguard. If you have an account at another financial institution, you can transfer it to Fidelity or Vanguard for investment management.

Blooom manages these types of IRA accounts:

  • Traditional IRA
  • Roth IRA
  • Nondeductible IRA
  • Spousal IRA
  • Simple IRA
  • Self-directed IRA

Financial Advisor Access

Blooom Offers Financial Advice for Your Money Questions

Are you considering buying a dog, or a house  or paying off debt? Ask your Blooom financial advisor how that decision will impact your finances. Your financial advisor can respond to a number of your finance-related questions.

Both the Standard and Unlimited accounts offer human financial advisor access.

The Standard Plan allows written communication with a financial advisor with a 2 to 3 day turnaround.

The Unlimited Plan offers live chat with an advisor about all of your financial questions during normal business hours.

Blooom Robo-Advisor Review Pros and Cons


  • Free retirement account analysis is great.
  • Fees are low.
  • The sign up is fast.
  • The access to a financial advisor at this price point is outstanding. Betterment is the only other robo-advisor that offers all clients financial advisor access (texting at the digital level)
  • There’s no long term commitment and you’re not moving your assets*, so it’s easy to give Blooom a test drive.
  • Blooom investment selections and asset mix are based upon sound investing practice.


  • Blooom isn’t great if you have many investment accounts. When creating your asset allocation, Blooom’s account analysis doesn’t take into consideration assets outside your workplace retirement account. This can lead to an unbalanced asset allocation.
  • The initial free account review is general and doesn’t factor in the actual funds and their fee structure offered in your plan. Thus their recommendations and overview are not specifically targeted to your particular situation.
  • For smaller account sizes, the annual fee represents a greater percent of AUM (assets under management) than for larger accounts.
  • No app at present.
  • No week-end customers service.

Blooom Review Wrap Up – Is Blooom Legit?

Blooom’s DIFY or do-it-for-you retirement investment account management is a well-needed service for the the 90 million 401(k) and other workplace retirement account holders. As of November 2019 Blooom claims to have saved clients over $1 billion in investment fees.

Since Blooom is a registered investment advisor and fiduciary with outstanding security and a tested product, we can say with confidence that Blooom is legit.

For new through intermediate investors, we recommend Blooom for retirement account management. Advanced investors with several retirement accounts might prefer another robo-advisor like SigFig or FutureAdvisor who allow you to leave your investments in their existing accounts.

With Blooom, you can work to maximize your retirement account returns for a few bucks per month. That could potentially lead to additional spendable dollars in retirement.

What have you got to lose? Click here and let Blooom give you a FREE retirement account analysis.

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*IRA accounts will be managed when in a Fidelity or Vanguard IRA account. If your IRA is with another financial insititution, you can transfer it to Fidelity or Vanguard for blooom to manage.

*Disclosure: Please note that this article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link. That said, I never recommend anything I don’t believe in.

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