Leawood’s blooom is adding a new security feature to its “robo-adviser” platform for your 401(k): automated Suspicious Activity Alerts.
If blooom spots a withdrawal or loan from a user’s 401(k) – or their 403(b), 401(a), 457 or TSP – the system will send a text message to that person. The Suspicious Activity Alerts are part of blooom’s $10 per-month subscription, but users must allow text messaging as part of their accounts.
“Blooom is committed to safeguarding your right to retire,” CEO and co-founder Chris Costello said. “Whether it’s exposing and minimizing hidden investment fees or identifying suspicious activity, blooom serves one person: the individual.”
Blooom automatically monitors and optimizes a customer’s employer-sponsored retirement account for them, ensuring that funds are invested properly without unnecessary fees.
“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,” Costello said.