Here’s the story of blooom with 3 Os. So a few years ago Kevin and I were managing investment portfolios for millionaires. Which is fine nice people but they are probably the least likely to need our help retiring comfortably. You see… in the traditional finance world if you don’t have a big enough account, all you get is a pamphlet and a pat on the back. Even my own parents wouldn’t have qualified for our services and this ate away at me. Until one night Kevin texted me with an idea… “What if we built a technology to help all the people that Wall Street won’t?” “Oh!” That was blooom ‘O’ number one: Help should be available regardless of account size.
So we called our techy friend Randy and met in his basement to start hashing out a plan to make retirement help affordable for everyone. We thought, “This technology is awesome!” Now anyone can afford to have their 401k managed professionally! So we asked our friends and family to link up their most valuable retirement asset including my younger sister Annie. Annie is smart, valedictorian of her high school class, successful in her career, and has direct access to me, but after linking Annie’s 401k to blooom we discovered her entire nest egg was sitting in a money market account earning a return of almost zero. Ooooh! There was blooom ‘O’ number two. So I asked Annie… “What happened?!” She said, “There are a million things I’d rather be doing than taking care of my 401k.” No one wants to mess with that stuff! So we simplified.
No pie charts, no graphs, no PhD in finance required to understand the health of your 401k. Then something amazing happened. Our friends told their friends who told their friends and soon we were managing 401ks for people across the country for a low fee, no basis points, no percentages, no commissions, no moving your 401k. We were finally helping people get their 401k on the right track. [Toot! Toot!] Even Wall Street started noticing the little startup that could. So we upgraded our basement office to a garage and hired people from all over the world with all sorts of backgrounds who also believe that everyone deserves affordable help with their 401k. And now, we’re working our [BEEP]s off proving that 401k advice can be smart, simple and affordable for any account size. Making a retirement that was seemingly impossible, possible for many more Americans. So we’re blooom! And by all o-counts we’re doing pretty well creating a whole new way to 401k..
As found on Youtube