Digital 401(k) advice provider blooom pivots to B2C

Posted on May 23, 2017. Filed under: Uncategorized |

https://www.financial-planning.com/news/digital-401-k-advice-provider-blooom-pivots-to-b2c

Written by Suleman Din
Published 4/28/17 5:46pm EDT

This is an interesting story about one of the larger providers in the robo advisor world. Like some of the other larger providers funded by vast amounts of venture capital, many thought they would be a force to reckon with when they took their retail success and tried to replicate it in the retirement plan world. All the marketing advantages, all the news stories covering these companies, seemingly as predictive to future success as the mainstream media thought it was a forgone conclusion Hillary would be the next president.

Yet we learn here that Blooom’s visions of the retirement plan marketplace turned out to be as fictitious as Shangri-La itself. They laid off 10 employees and have closed up shop for good in the B2B space, and now solely focus in the retail world.

What does this say? It just goes to show that in the retirement plan space, you just can’t throw money around and win business. This should be great news for the majority of you reading this and put even more wind in your sails to continue your mission. It’s ironic that our niche has trillions of dollars in it, yet big dollars don’t guarantee your slice of it. The great equalizer of hard work, and smart work, give us all a fair shot for our success with working with plan sponsors and fellow advisors.

Thank you for stopping by to read our thoughts on this, and for your continued support of our participant advice and financial wellness solutions. If you’re new to us and would like to learn more or get a quote, shoot us an email at ask@rj20.com or give us a call at 877-438-7520.

 


Read Full Post | Make a Comment ( None so far )

Recently on RJ20's Online Participant Advice & Financial Planning Blog…

The Need To Change the Conversation

Posted on March 2, 2017. Filed under: Consultants |

Transforming the complexities of participant planning advice into simple and actionable steps truly is an art and science.

Posted on December 8, 2014. Filed under: Uncategorized |

New Services Success

Posted on April 24, 2013. Filed under: Uncategorized | Tags: , , , |

Steps With Coping With Inflation When It Ramps Up

Posted on March 11, 2013. Filed under: Uncategorized | Tags: , , |

Nine Retailers with the Worst Customer Service

Posted on March 10, 2013. Filed under: Uncategorized | Tags: , |

Have 401(k)s Failed Investors?

Posted on March 9, 2013. Filed under: Uncategorized |

Are You “Mad” At Your 401K

Posted on August 28, 2012. Filed under: Uncategorized | Tags: , , , , , , , , |

Electricity? Biology? Seems to me it’s Chemistry!

Posted on July 24, 2012. Filed under: Consultants |

Retirement Programs Keep Employers on Track

Posted on June 25, 2012. Filed under: Uncategorized | Tags: , , , , , |

Liked it here?
Why not try sites on the blogroll...

%d bloggers like this: