Bloom is a mobile app designed to make investing accessible for beginners. With its simple interface and educational content, Bloom aims to demystify investing for those just getting started. In this article, we’ll evaluate if Bloom lives up to its goal of being a good investing app for novices.
Bloom provides an easy onboarding process for new investors
Bloom makes it easy to set up your account and start investing with just a few taps. The sign-up process is straightforward and the app offers guidance if you need help setting your risk tolerance or picking your first investments.
The app features various educational resources for investing novices
For beginners who are just learning the basics of investing, Bloom has a section called ‘Investing 101’ that uses plain language, examples, and quizzes to explain core concepts. This can help new investors gain knowledge before putting real money on the line.
Bloom automates portfolio management for hands-off investing
Once an investor is set up, Bloom takes care of ongoing portfolio management automatically. Based on the chosen risk tolerance, Bloom handles tasks like rebalancing and tax-loss harvesting so users don’t have to actively manage investments.
For new investors looking for an easy way to get started, Bloom provides a straightforward onboarding process, educational investing content, and automated portfolio management. The simple interface and abundance of guidance makes it a solid choice for beginners.