Walter L. Morgan

 (July 23, 1898 - September 2, 1998) was the founder of the Wellington Fund, the first balanced mutual fund in the U.S. Morgan was also the founder of the Wellington Management Company. Morgan was born in Wilkes-Barre, Pennsylvania, and is an alumnus of Princeton University. He died in Philadelphia, Pennsylvania.

Career
After graduation from Princeton University, Morgan was employed as an accountant. Realizing that clients were in need of investment counsel, Morgan founded a balanced mutual fund, called the Industrial and Power Securities Company, with investments in cash, bonds, preferred stock, and common stock. In 1935 he changed the name of the fund to Wellington Fund. He headed the fund for 42 years before retiring in 1970.

In 1951, Morgan hired John Bogle to Wellington Management Company.