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Morningstar’s HelloWallet Wins “Best in Show” Award at FinovateFall 2015 Conference

Morningstar, Inc. (NASDAQ: MORN) today announced that its HelloWallet unit received a “Best in Show” award at the FinovateFall conference on Sept. 17 in New York City. FinovateFall is an annual conference where select companies have the opportunity to showcase cutting-edge financial services technology in a unique demo-only format. HelloWallet was selected from among 70 other technology companies as having one of the best products with the highest potential industry impact. About 1,500 financial technology executives in attendance select the winners.

HelloWallet presented its suite of financial guidance products, including a Wellness Score, which helps individuals work toward financial goals and see how they stack up against their peers, and its new online retirement planning tool powered by the Morningstar Wealth Forecasting Engine. The new tool combines HelloWallet’s expertise in behavioral science with Morningstar’s experience in retirement planning and wealth forecasting. With a few simple inputs, users can get answers to key retirement questions, such as when they can retire, when to take Social Security, how much they can spend in retirement, and when they might run out of money.

“We’re thrilled to receive this recognition, which is a testament to our team’s innovation, design, and execution,“ Brock Johnson, head of retirement solutions at Morningstar, said. “HelloWallet became a Morningstar company a little over a year ago, and this new retirement planning tool is a great example of the collaboration between our teams. 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.”