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United States Financial Wellness Benefits Market Outlook Report 2022-2027 Featuring Prominent Players - Prudential Financial, Bank of America Merrill

Published : Thursday, March 17, 2022, 10:23 am
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DUBLIN--(BUSINESS WIRE)--The "U.S. Financial Wellness Benefits Market - Industry Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.


The U.S. financial wellness benefits market is expected to grow at a CAGR of 13.71% during the forecast period 2022-2027

Employers in this time of 'new normal' are taking initiatives to impart financial education, online tools, in-person assistance, and financial services to protect the interest and well-being of their employees. More than 2/3rd of financial wellness programs are employer-sponsored.

However, almost 1/3rd of them are provided by third-party providers such as those involved in retirement plan recordkeeping, where the employees themselves pay less than 19%.

Disposable personal income per capita will increase when the growth in disposable income is greater than the growth in the population - revenues in the financial wellness benefit market increase when the real disposable personal income per capita rises.

U.S. FINANCIAL WELLNESS BENEFITS MARKET SEGMENT ANALYSIS

New players are entering the industry to fill this void, ramping up activity. For instance, Edukate addresses nine issues of employees who are tight on cash but might be working on purchasing a vehicle, managing credit to buying a home/estate planning, budgeting, or managing credit, among others.

Workplace financial wellness programs in healthcare companies and systems have been going strong because the industry is specifically susceptible to disadvantageous outcomes due to workforce volatility in a system where reliable and consistent care is a priority.

VENDOR ANALYSIS

Prudential Financial is one of the prominent players in the market. It has offered its services to clients such as Samsung and Cintas and has more than USD 1 trillion in assets under management. Mercer is a significant player in the US financial wellness market. It has 28,000 clients and impacts the life of 15 million people.

MARKET OPPORTUNITIES AND TRENDS

  • Growing Role of Wellness Champions
  • Increasing Growth in Early Wage Access
  • Rising Penetration of Gig Economy in Us
  • Hijack Of the Term Financial Wellness
  • Rising Financial Wellness Incentives

PROMINENT VENDORS

  • Prudential Financial
  • Bank of America Merrill Lynch
  • Virgin Pulse
  • Mercer
  • Financial Finesse

OTHER VENDORS

  • Aduro
  • Ayco
  • Beacon Health Options
  • Best Money Moves
  • BrightDime
  • Brightside
  • DHS Group
  • Edukate
  • Enrich Financial Wellness
  • Even
  • FlexWage
  • Financial Fitness Group
  • Financial Knowledge
  • HealthCheck360
  • Holberg Financial
  • Health Advocate
  • LearnLux
  • Limeade
  • Money Starts Here
  • PayActiv
  • Purchasing Power
  • Ramsey Solutions
  • Transamerica
  • My Secure Advantage
  • LifeCents
  • Origin
  • BrightPlan
  • Savology
  • Sqwire
  • FinFit
  • Pro Financial Health
  • FutureFuel.io
  • Salary Finance
  • Social Finance (SoFi)
  • GoPlan 101
  • The Financial Gym

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

4.1 Market Definition

4.2 Base Year

4.3 Scope of the Study

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a Glance

7 Introduction

7.1 Overview

7.1.1 Cost of Stress to Us Corporate Sector

7.1.2 Wellbeing in the Us by State

7.2 Financial Wellness: An Overview

7.3 State of Us Healthcare

7.1 Economic & Demographic Analysis

7.1.1 Population

7.1.2 Income

7.1.3 Generation & Age Trends

7.1.4 Racial/Ethnic Trends

7.2 American Workforce Analysis

7.3 Impact of Covid-19

8 Market Opportunities & Trends

8.1 Growing Role of Wellness Champions

8.2 Increasing Growth in Early Wage Access

8.3 Rising Penetration of Gig Economy in US

8.4 Huge Interest & Investment from Investment Companies

8.5 Hijack of the Term Financial Wellness

8.6 Growing Influence of Data Analytics in Financial Wellness

8.7 Rising Financial Wellness Incentives

8.8 Administration of Targeted Benefits

9 Market Growth Enablers

9.1 Changing Work Dynamics in US

9.2 Covid-19 Fueling Demand for Financial Wellness

9.3 Financial Unease Despite Upbeat Environment Pre-Covid-19

9.4 Integrating & Leveraging Existing Benefits

9.5 Employers Take Onus for Employee Financial Wellness

10 Market Restraints

10.1 Misalignment in Financial Wellness Offerings

10.2 Fiduciary Concerns Hinder Efforts

10.3 the Elusive Roi

10.4 Low Employee Participation & Engagement

11 Market Landscape

11.1 Market Overview

11.2 Market Size & Forecast

11.3 Pest Analysis

11.3.1 Political

11.3.2 Economic

11.3.3 Social

11.3.4 Technology

11.4 Industry

11.5 Program

11.6 End-User

11.7 Type

11.8 Delivery

11.9 Five Forces Analysis

12 Program

12.1 Market Snapshot & Growth Engine

12.2 Market Overview

12.3 Financial Planning

12.4 Financial Education & Counseling

12.5 Retirement Planning

12.6 Debt Management

13 End-Users

13.1 Market Snapshot & Growth Engine

13.2 Market Overview

13.3 Large Businesses

13.4 Medium-Sized Businesses

13.5 Small Businesses

14 Delivery

14.1 Market Snapshot & Growth Engine

14.2 Market Overview

14.3 One-On-One

14.4 Online/Digital

14.5 Group

15 Type

15.1 Market Snapshot & Growth Engine

15.2 Market Overview

15.3 Consumer Tools

15.4 Employer Tools

16 Industry

16.1 Market Snapshot & Growth Engine

16.2 Market Overview

16.3 Healthcare

16.4 Financial Services

16.5 Education

16.6 Manufacturing

16.7 Public Sector

For more information about this report visit https://www.researchandmarkets.com/r/o4ks3g


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