News, Vision & Voice for the Advisory Community


Blooom shutters its robo 401(k) RIA out of the blue, leaving all 29,000 clients, with $5.6 billion in assets, twisting in the wind and red flags flying

The Overland Park, Kan.-based firm's staff bolted for Morgan Stanley, including its CEO, but experts say regulators may not be far behind.

Author Oisin Breen
December 1, 2022 at 8:25 PM
no description available
Chris Costello: 'We’re embarking on a new chapter... we wish you all the best.'
Brooke Southall and Keith Girard contributed to the editing of this article.

Related Moves

Charles 'Chuck Schwab' called James Gorman to protest a two-broker poach, kicking off a hydra-headed legal battle, costing Morgan Stanley millions, so far

The Schwab founder and chairman invoked Charles Schwab Corp.'s zero-tolerance policy against Wall Street -- or RIA -- poaching of talent and AUM from Schwab branches.

March 9, 2023 at 1:23 AM

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