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
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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.

401(k) Stories

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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