According to the U.S. Department of Labor, as of 2014, there were 88 million people in this country participating in a 401k or similar employer-sponsored retirement plan. The vast majority rely on growing these employee benefit accounts in order to retire comfortably at some point. Unfortunately, most don’t qualify for a face-to-face advisor or don’t have the desire to manage their own accounts. The vast majority are your employees.

Employees Can Get the Help They Need to Manage Their 401(k)

Blooom is the only fully automated 401k investment service. Through blooom, the same quality advice and management that is generally reserved for someone with $10 million in their investment portfolio can be given to the average employees—and at no cost to the employer.

Once an employer has set up a sponsored retirement plan, the employer and employee can hand the management of the plan over to blooom. Doing so helps employees get the most out of their employer-sponsored retirement plan. It can also take the headache away from the HR department and put the plan in the hands of a professionally managed online tool.

How Blooom Works

Blooom is the only automated service that tackles and solves the 401k problem for employees no matter where they work or how much money is in their portfolio. It is truly a service designed for the millions of small American investors. Blooom brings a simplified approach to employees who are intimidated or overwhelmed by the investment process.

Blooom’s software determines the ideal mix out of the employee’s possible investment choices and makes the trades, but the assets remain with the custodial institution. Blooom also reviews each employee’s account quarterly and automatically rebalances the asset mix, if needed, to maintain optimal investment.

In addition, blooom provides other features that make the investment process easier for employees to understand:

• Replaces complicated charts and graphs with the simple image of a flower to show people how healthy their retirement account is (a wilting flower with a fly on it tells a story that charts cannot).
• Replaces complex financial jargon and language that no one understands with plain English, and a little bit of humor.
• Replaces fee structures that 90 percent of Americans don’t understand (“basis points”, “expense ratios”) with a Netflix-like monthly subscription of $15 or less, with no hidden fees, no side businesses and a “cancel at any time” policy.

This unique approach is why blooom was named one of the “Top Ten Most Innovative Companies in the World for 2015 in Personal Finance” by Fast Company. And it’s why The Wall Street Journal called blooom “one of the best online tools for retirement planning.”