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Kansas Startup Update: Blooom

Written by Matt Westenburg

With more than 18 years of experience as a certified public accountant, Matt has helped companies develop & validate business models, raise capital and provide management expertise. He enjoys working with entrepreneurs who are passionate about achieving their goals and bettering the community. He was voted the Silicon Prairie “Service Provider of the Year” and has been recognized multiple times for his contributions to the local entrepreneurial community.

Business is blooming at Blooom. Blooom is a registered investment advisory startup that grew from their founders’ Midwest roots and passions for solid financial advice. Located in Leawood, Kansas, these guys are the real deal. Registered with the SEC, Blooom has been helping people from all kinds of financial situations develop their portfolios since they were founded in 2013.

The benefits of working with Blooom professionals

A 401k that’s managed by professionals can grow twice as much as one that you keep track of yourself. This service is especially important as many economists warn that social security benefits will run out. That means you’re not longer guaranteed to have that income to help cover the cost of retirement. The benefits of working with professional financial advisors like the ones at Blooom include peace of mind and a better potential return on your investment. Plus, by working with trusted financial advisors, you won’t have to sift through pages of 401k plans and spend hours comparing investment options that are barely understandable.

How Blooom works

The Blooom business model begins with two basic categories of retirement plan participants. People with smaller accounts who may not have access to a financial advisor fall into one category. The second category is for people who either don’t have time or are not interested in managing their own retirement account. Blooom will first analyze your situation and find the best funds for you. Then Blooom electronically buys and sells funds on your behalf with a unique algorithm. If the idea of having your retirement plan managed by technology makes you uncomfortable, Blooom has that covered. A human Blooom financial advisor will review the results before they’re finalized.

Blooom will first analyze your situation and find the best funds for you. Then Blooom electronically buys and sells funds on your behalf with a unique algorithm.

Blooom offers flexibility to adjust how your assets are allocated and keeps you informed every step of the way. Since Blooom is a fiduciary advisor, they are legally required to act in your best interest. The entire service is online, so you can manage your retirement account from the comforts of home.

Blooom is just one of the exciting new startups that have grown out of the Silicon Prairie. As the Great Plains continue to produce more entrepreneurial success stories and attract new businesses, those employees can be assured that there’s an efficient and effective way to develop their 401k retirement plans.

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