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Blooom Review: Is Blooom Legit? Blooom is legally required to work for your best interest. As a fiduciary, it must follow specific guidelines when it comes to managing your retirement account. It also uses bank-level security encryption, so you can be sure that your information is safe.
Sep 27, 2021 · Is Blooom Legit? Blooom is one of the first robo-advisory services to offer workplace retirement account management, and does a decent job of helping clients lower fees and invest smarter. Blooom is an SEC Registered Investment Advisor, and a secure way to take advantage of automatic investing management for a low annual fee.
Pros. Affordable at $120 per year, provided you have a high enough balance. Free 401 (k) portfolio analysis. Regular monitoring of your account (s) Guaranteed security. Cons. Not great for investors who want to be more hands-on. Relatively expensive for low-balance accounts.
Legitimacy Score: 55.2/100. Go To: : About Bloom. What is Bloom? Bloom is a teen investing app that offers financial education lessons and a custodial brokerage account for teens to invest in real stocks and ETFs.
Dec 29, 2023 · The app aims to simplify the investment process, allowing users to easily manage their retirement accounts ("Blooom is a robo-advisor offering automated investment management for 401 (k)s, IRAs, and other retirement plans").
Jul 31, 2023 · 7:00 AM PDT • July 31, 2023. Comment. Image Credits: Bloom. Bloom, a zero-commission stock investing tool for teenage investors, reached 1 million downloads after launching in February 2022.
Backed by. Start your financial journey. Bloom offers zero-commission stock investing for young investors aged 13+. With built-in parental controls, education modules, fractional trading, and more, Bloom offers the safest way for teens to start building wealth early.
