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Firm Launches Suspicious Activity Alerts Feature to Protect 401ks


LEAWOOD, KS, January 9, 2018 -- blooom, the robo-advisor making 401k help available, simple and affordable to millions of Americans, announced a new feature, Suspicious Activity Alerts, embedded in the service as a result of continued concerns about security and data protection. Suspicious Activity Alerts are designed to continuously monitor for withdrawals or loans on an individual's 401k or other employer-sponsored retirement accounts (403b, 401a, 457 and TSP).

In the event blooom detects suspicious activity, a client is notified via text message.

"The 401k is often a person's single largest financial asset. blooom is committed to safeguarding your right to retire. Whether it's exposing and minimizing hidden investment fees or identifying suspicious activity, blooom serves one person: the individual," said CEO and co-founder Chris Costello.

In addition to now alerting clients to unwanted possible fraudulent activity in their 401k, blooom also:

  • Exposes high hidden fees found in many investment fund options
  • Aligns your 401k's portfolio with your retirement goal
  • Ensures you continue to have the proper diversification over time
  • Allows you to "Set it and forget it"

The new Suspicious Activity Alerts feature is included as part of a client's $10 monthly blooom membership.

"Providing affordable financial help to hardworking Americans is our mission, and we'll continue to add services for our monthly flat fee, including peace of mind with an extra layer of security," said Costello.

About blooom

blooom is the first robo advisor for your 401k and one of the nation's fastest growing robo-advisors, reaching $1 billion in assets under management more quickly than any independent robo-advisor (including Betterment and Wealthfront). The company focuses on Americans with a 401k or other workplace retirement accounts. blooom is a Registered Investment Advisor with the SEC, and aims to scale fiduciary best practices on low fees, and appropriate asset allocation and diversification, to millions of Americans who have workplace retirement accounts, yet no access to a financial advisor.


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