Five years ago, Kevin Conard, Randy AufDerHeide and I started meeting to talk about our big idea: A company that could change the way average Americans without huge retirement accounts saved for retirement. We would put our kids to bed and then work into the wee hours of the morning in Randy’s basement. Never did the three of us imagine that five years later, we would have built the company that exists today. We have 30 employees who manage more than $2 billion for almost 20,000 clients all across the country, using a totally disruptive technology model.
In the beginning, we just sought to build something to help average Americans get access to professional financial help. Especially the vast majority of folks who don’t have huge retirement accounts – folks just like my own mom and dad.
A Growing Company
Once blooom launched, I had in the back of my mind the thought that we might reach a point at which the company’s size and complexity would require someone with a much more expansive “executive tool kit” and experience to take the company to the next level.
In 2016, we hired Matt Burgener as our chief marketing officer. I know a few of us thought that if I was to get hit by the proverbial bus, Matt would be a great candidate to take the CEO spot. He has an impressive background and was so committed to blooom’s mission that he relocated his family from Dallas to Kansas City to join the company.
Well, I am relieved to tell you that I did not get hit by that bus. But after working closely with Matt over the past 15 months, it has become abundantly clear to me and those around me that Matt is the right person to take over as CEO to lead blooom into the future. I’m thrilled to report that Matt’s experience and counsel played a huge role in blooom’s rapid growth over the past year and a half.
What’s Changing Now
After much discussion with Kevin, Randy and my wife, and with the support of the blooom Board of Directors, I am transitioning the role of CEO to Matt.
I will stay on as chairman of the blooom Board of Directors, and I will remain deeply involved at the company level. I will continue to do what I love – help people secure their futures by saving and investing wisely. To that end, I’ll happily continue to be the face of blooom externally, doing media appearances and speaking engagements, acting as chief evangelist and leading client education, among other things.
This was not an easy decision, but I have always felt I would do what is in blooom’s best interest. Truthfully, I now believe this is a situation in which blooom gets to have its cake and eat it, too, because we’re both playing to our individual strengths. Matt is a seasoned executive with deep experience in scaling companies, and I get to focus on the things I do best: speaking externally about our mission to change average Americans’ financial lot in life.
I’m excited to see how blooom will grow in this next phase under Matt’s leadership, and I look forward to continuing to build on our goal of bringing simplified financial advice and services to millions of Americans.