The case looks at Hello Wallet, the online autonomous pecuniary supervision service providers, in relation of behavioral finance ideas. It likewise takes into consideration the particular difficulties encountered by online personal financial management (PFM) frameworks. Furthermore, the case has an in-depth presentation of American family fund, including information with respect to Americans' capacity to spare cash, accessibility for retirement, and level of financial knowledge and know-how. Hello Wallet has numerous offerings, including PFM, financial planning, a program design to total clients' monetary records, and an application to help clients find budgetary items that offer preferred arrangements over their present ones. While the company is not the first to advertise and offer this kind of service, Hello Wallet stands out from other service providers in three primary ways. To start with, it was autonomous, which means that it did not get monetary benefits from other financial companies to promote their products and neither did it get additional fee (i.e., commissions) when people settled on purchasing choices. Second, it managed more than 130,000 pecuniary products and offerings to facilitate customers in identifying the optimal products suited for them, in comparison to other players, which looked through a more restricted number of service offerings. Third, in light of the fact that it was autonomous, it made use of s subscription approach, as a part of which people paid fee every month. The case was prepared in March 2010, soon after the beta introduction of Hello Wallet's online site, and it analyzes two key problems Hello Wallet is struggling with:
Deciding different pricing strategies for two different channels – the direct consumer approach and the business approach
How to assign adequate resources for the two different channels
How do the concepts of behavioural finance create opportunities and challenges for HelloWallet?
What are the market forces that create opportunities and challenges for adoption of HelloWallet?
How should HelloWallet allocate its resources for its two distribution channels?
How should HelloWallet price its service for its direct-to-consumer channel and its enterprise channel?