Dear Student, please read carefully and explain what has happened? Hello Wallet is an independent financial service company created by Matt Fellowes. Their vision statement is to "Democratize access to financial guidance for all Americans". Mr. Fellowes became aware of the large percentage of people that are in need of financial services. The company offered a variety of online services like personal financial management, financial planning and highly sophisticated system for aggregating the information in users' financial accounts (Schifrin \& Beshears 1). HelloWallet have some competitors like Mint.com and Yodlee who are also free of cost, and the different among them is that Hello Wallet do not receive monetary incentives from others institutions. Therefore, in order for HelloWallet to generate income they have to charge a subscription fee. Their strategy is to engage multiple enterprise channels to offer the company as an HR benefit. The company has received positive feedback from the press, including the sponsor of the "Clinton Global Initiative". HelloWallet is facing some challenges like data security and privacy issues, the commitment of their customers to pay their services, and the desire of the customers to engage in their personal financial health. Mr. Fellowes know that his clients can benefits from these services due to the current financial issues affecting the economy. People can benefit from the company, because the company provides advice to safe for retirement. The majority of American only depends and Social Security to retire and the company offer options for their client to safe in a 401k plan. Many household will benefit from this HelloWallet by creating a saving account and to learn how to choose a lower rate credit card. Also, the company offers a low subscription for low income families and provides tax preparation services to low and moderate income families. The company provides two product areas one is money management that allow people to their financial account and the detailed financial guidance that will provide information on how to achieve financial goals or save money according to their needs. User also could input their savings goals for such things as retirements, buying home, or paying for education (Schifrin \& Beshears 5). HelloWallet faced competitors that offer similar services like Mint.com, Yodlee and Banks. The company still has many potential clients and opportunity in the market, due to the amount of people that have lack of knowledge in managing their finance. Many families in America seek financial assistant because they live pay check to pay check. One of the mayor setbacks that the company faced, is that clients do not feel safe to provide personal information to their website. This leaving the company to face data security issues, but the company tried to convince their clients that their website works as same as the online banking and others secure websites. The company main goal is to engage low income and moderate income families to. use heir website