How does HelloWallet work?

How does HelloWallet work?

HelloWallet is a financial app and website that gives you a full picture of your financial world. You can link the app to your bank accounts, investments, and credit cards, and we give you a customized guidance path to help you achieve financial goals.

What is keybank HelloWallet?

HelloWallet is a web and mobile application for employees founded by former Brookings Institution scholar Matt Fellowes and based in Washington, DC. It provides personalized financial guidance to members and relies on behavioral economics to incentivize workers to implement its advice.

What is financial wellness?

Financial wellness (or financial wellbeing) refers to a person’s overall financial health and the absence of money-related stress. It’s the result of successful expense management. Financial wellness is an important part of overall employee wellbeing which consists of physical, mental, and financial wellness.

How much did keybank pay for HelloWallet?

Morningstar acquired HelloWallet in mid-2014 for $52.5 million, including an existing $13.5 million stake it already had in the company. The deal aligns with the long-term strategies of Morningstar and Key alike, said Brock Johnson, head of global retirement and workplace business for Morningstar.

How much does HelloWallet cost?

Feature Breakdown

App Price $0
Monthly Fee Starting at $8.33

How much did KeyBank pay for HelloWallet?

Is HelloWallet safe?

When using HelloWallet, your personal information is kept private and secure. HelloWallet uses bank-level information security protection and you cannot transfer money via HelloWallet.

What are the 8 types of wellness?

The Eight Dimensions of Wellness

  • Emotional / Mental.
  • Environmental.
  • Financial.
  • Intellectual.
  • Occupational.
  • Physical.
  • Social.
  • Spiritual.

What do you need to know about HelloWallet?

Based on age and income, HelloWallet compares performance across many areas to similar users to provide a “Financial Wellness Score.” Personalized guidance and help is available through the website to improve Financial Wellness Scores.

How does HelloWallet work as a financial planner?

One of the biggest draws of financial planning tools like Mint or HelloWallet is the ability to see a snapshot of all financial accounts without logging into each individual website. Every time someone opens the HelloWallet webpage or phone app it pulls the latest balances and transactions from all the linked accounts.

What do I need to know about Hello wallet?

HelloWallet displays a pie chart with a slice for each of the categories: Retirement (contributions), Deductions (includes income tax), Bills, Regular Expenses and Savings.

How do I add an institution to Hello wallet?

For each institution to be added credentials needed to be entered into HelloWallet and go through the two factor authentication process (usually sending a text message or email to the account on file and enter in the code).

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