HelloWallet is an independent, online and mobile financial guidance service for workers founded by former Brookings Institution scholar Matt Fellowes.[1][2] It provides personalized financial advice to each of its customers and relies heavily on behavioral economics to incentivize workers to implement its guidance.[3][4]

The company has generated a wide amount of attention for its innovative products, from sources including Pensions and Investments,[5] Investment News,[6] The Wall Street Journal,[7] The Washington Post,[8] and PC World.[9]

The company is based in Washington, DC and also has offices in San Francisco CA.

Business Model

The service is primarily distributed through Fortune 500 and other employers as a workplace benefit to boost the wealth of workers by increasing savings and reducing debt.[10] Retirement plan providers also provide the service to help workers improve their personal finances and boost their retirement savings.[11]

HelloWallet has a strong double bottom line mission to democratize access to independent financial guidance. For every five memberships sold, they give one free membership to a family in need.[12]

HelloWallet’s independence comes from the fact that it receives no commissions from financial institutions.[13] It boosts the wealth of its members by relying on behavioral economics and a group of academic advisors from Dartmouth College, the RAND Corporation, George Washington University, Stanford University, University of Wisconsin–Madison, and the Brookings Institution.[14]


“Brilliant” The Next Web[15]

“Game Changer” The Huffington Post[16]

“Nothing Short of Amazing” AOL Daily Finance[17]

“Honest” Business Week [18]

“Five Coolest Start-ups” ABC News [19]

HelloWallet’s founder Matt Fellowes was chosen in 2010 as a The Huffington Post GameChanger, along with Steve Jobs, Paul Volcker, Jeff Skoll, James Cameron, and 94 others.[20] The company was chosen in 2009 to participate in the Clinton Global Initiative and was signaled out as an example of social innovation business by President Bill Clinton on Larry King.[21]


The company was created with support from the Rockefeller Foundation in 2009.[22] In 2010, it raised additional funds from AOL founder Steve Case, Jean Case, Grotech Ventures, and a group of private individuals.[23]

In January 2012, HelloWallet received $12 million in Series B funding, led by Chicago-based Morningstar, Inc. and DC-based TD Fund.[24][25][26][27][28][29][30][31]


  1. "HelloWallet is a Brilliant Personal Finance Tool in Your Pocket" The Next Web
  2. "Will HelloWallet Transform Online Financial Advice?" Business Week
  3. "Take This Paycheck and Allocate It" Investment News
  4. "Case: HelloWallet" Harvard Business Review
  5. "Morningstar invests in retirement startup HelloWallet" Pensions & Investments
  6. "A Tool For Your Clients and Their Kids" Investment News
  7. "HelloWallet Will Have to Find Room for $12M" The Wall Street Journal
  8. "The Download: A cocktail reception where tech policy flows freely"
  9. "Software that does it all" PC World
  10. "The Download: HelloWallet debuts its financial help software" The Washington Post
  11. "Mercer adds three new solutions to its benefits administration outsourcing platform" Mercer
  12. "Matt Fellowes on Transforming Personal Finance Through HelloWallet's Social Mission" Tech Cocktail
  13. "HelloWallet do-gooder lands $3.6M for financial advice site" Venture Beat
  14. "HelloWallet Appoints Eight Leading Behavioral Economists and Researchers to Academic Advisory Board" Business Wire
  15. "HelloWallet is a Brilliant Personal Finance Tool in Your Pocket" The Next Web
  16. "Who Is The Ultimate Game Changer In Business?" The Huffington Post
  17. "HelloWallet builds savings plans and allocates your paycheck" AOL Daily Finance
  18. "Will HelloWallet Transform Online Financial Advice?" Business Week
  19. "5 Cool Startups to Keep an Eye on" ABC News
  20. "Who Is The Ultimate Game Changer In Business?" The Huffington Post
  21. "Will HelloWallet Transform Online Financial Advice?" Business Week
  22. "HR's financial helping hand" HR Management
  23. "HelloWallet Nabs $3.6 Million From Steve Case And Grotech For Personal Finance Software" TechCrunch
  24. "Morningstar Invests in Retirement Startup" Pensions & Investments
  25. "Morningstar Shows HelloWallet the Money" The Mutual Fund Wire
  26. "HelloWallet Receives 12 Millon in Funding to Expand its Customer Base" Finovate
  27. "HelloWallet Gets $12M as Mobile Payments Takes Off" Silicon Angle
  28. "HelloWallet CEO Matt Fellowes on Their Series B Funding" Tech Cocktail
  29. "HelloWallet Keeps Track of Your Money, Raises $12M" Venture Beat
  30. "Morningstar Adds More Funds to HelloWallet" Chicago Business
  31. "HelloWallet raises $12 million in Series B round" Washington Biz Journal

External links

This article uses material from the Wikipedia article Hellowallet, that was deleted or is being discussed for deletion, which is released under the Creative Commons Attribution-ShareAlike 3.0 Unported License.
Author(s): David FLXD Search for "Hellowallet" on Google
View Wikipedia's deletion log of "Hellowallet"

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