HelloWallet is an independent, online financial guidance service for workers founded by former Brookings Institution

Brookings Institution

The Brookings Institution is a nonprofit public policy organization based in Washington, D.C., in the United States. One of Washington's oldest think tanks, Brookings conducts research and education in the social sciences, primarily in economics, metropolitan policy, governance, foreign policy, and...

 scholar Matt Fellowes. The company is based in Washington, DC.

Business Model

The service is primarily distributed through Fortune 500

Fortune 500

The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...

 and other employers as a workplace benefit to boost the wealth of workers by increasing savings and reducing debt. Retirement plan providers also provide the service to help workers improve their personal finances. HelloWallet’s independence comes from the fact that it receives no commissions from financial institutions. It boosts the wealth of its members by relying on behavioral economics and a group of academic advisors from Dartmouth College

Dartmouth College

Dartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences...

, the RAND Corporation, George Washington University

George Washington University

The George Washington University is a private, coeducational comprehensive university located in Washington, D.C. in the United States...

, Stanford University

Stanford University

The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...

, University of Wisconsin–Madison

University of Wisconsin–Madison

The University of Wisconsin–Madison is a public research university located in Madison, Wisconsin, United States. Founded in 1848, UW–Madison is the flagship campus of the University of Wisconsin System. It became a land-grant institution in 1866...

, and the Brookings Institution

Brookings Institution

The Brookings Institution is a nonprofit public policy organization based in Washington, D.C., in the United States. One of Washington's oldest think tanks, Brookings conducts research and education in the social sciences, primarily in economics, metropolitan policy, governance, foreign policy, and...

.

Recognition

HelloWallet’s founder Matt Fellowes was chosen in 2010 as a The Huffington Post

The Huffington Post

The Huffington Post is an American news website and content-aggregating blog founded by Arianna Huffington, Kenneth Lerer, and Jonah Peretti, featuring liberal minded columnists and various news sources. The site offers coverage of politics, theology, media, business, entertainment, living, style,...

 GameChanger, along with Steve Jobs

Steve Jobs

Steven Paul Jobs was an American businessman and inventor widely recognized as a charismatic pioneer of the personal computer revolution. He was co-founder, chairman, and chief executive officer of Apple Inc...

, Paul Volker, Jeff Skoll, James Cameron

James Cameron

James Francis Cameron is a Canadian-American film director, film producer, screenwriter, editor, environmentalist and inventor...

, and 94 others. The company was chosen in 2009 to participate in the Clinton Global Initiative and was signaled out as an example of social innovation

Social innovation

Social innovation refers to new strategies, concepts, ideas and organizations that meet social needs of all kinds - from working conditions and education to community development and health - and that extend and strengthen civil society....

 business by President Bill Clinton

Bill Clinton

William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...

 on Larry King

Larry King

Lawrence Harvey "Larry" King is an American television and radio host whose work has been recognized with awards including two Peabodys and ten Cable ACE Awards....

.

Funding

The company was created with support from the Rockefeller Foundation

Rockefeller Foundation

The Rockefeller Foundation is a prominent philanthropic organization and private foundation based at 420 Fifth Avenue, New York City. The preeminent institution established by the six-generation Rockefeller family, it was founded by John D. Rockefeller , along with his son John D. Rockefeller, Jr...

 in 2009. In 2010, it raised additional funds from AOL

AOL

AOL Inc. is an American global Internet services and media company. AOL is headquartered at 770 Broadway in New York. Founded in 1983 as Control Video Corporation, it has franchised its services to companies in several nations around the world or set up international versions of its services...

 founder Steve Case

Steve Case

Stephen McConnell "Steve" Case is an American businessman best known as the co-founder and former chief executive officer and chairman of America Online . Since his retirement as chairman of AOL Time Warner in 2003, he has gone on to build a variety of new businesses through his investment...

, Jean Case

Jean Case

Jean N. Case is CEO of the Case Foundation, which she and her husband, AOL co-founder Steve Case, created in 1997. In June 2006 she was appointed by President Bush to chair the President's Council on Service and Civic Participation....

, Grotech Ventures, and a group of private individuals.