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Morningstar subsidiary wins fintech award
Morningstar subsidiary wins fintech award
Morningstar's financial guidance subsidiary, HelloWallet, has been recognised at the FinovateFall 2015 conference in New York.
US-based start-up HelloWallet, which was acquired by Morningstar a year ago, helps individuals work towards financial goals and achieve better retirement outcomes.
HelloWallet received the 'Best in Show' award at a demonstration at the FinovateFall Conference on September 17.
Morningstar head of retirement solutions Brock Johnson said: "We want to improve the retirement outcomes of individuals and this tool is one way we can help them assess their retirement readiness and understand how the decisions they make about saving, investing, and leaving the workforce affect their financial goals."
HelloWallet provides users with a Wellness score, which helps to assess their financial position against their peers.
The retirement planning tool also allows users to obtain answers to retirement questions such as when they can retire, how much they can spend in retirement, and when they might run out of money.
HelloWallet utilises behavioural science and Morningstar's retirement planning research and wealth forecasting.
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