The US Financial Wellness Market
To know some of the most popular or well-known financial wellness tools that today help people save more, pay down debt, and generally be more financially stable and literate. The information will be used to explore opportunities to optimize an existing online financial wellness tool, geared towards employees.
- According to reports, the US financial wellness benefits market is expected to cross $825 million by 2024, growing at a CAGR close to 13% during the forecast period.
- Shortlister provides a pre-compiled list of top 26 financial wellness programs as of October 2019. Some of them include LearnLux, Enrich, FinFit, Best Money Moves, and Your Money Line, among others.
- LearnLux’s mission is to make financial guidance accessible for all by creating high tech, high touch solutions to empower individuals to take control of their financial life.
- Enrich is a financial wellness platform that strives “To empower all people to make effective personal finance, student loan, and career decisions throughout their lives.”
- According to the website, “FinFit has grown to be one of the nation’s largest financial wellness benefits servicing over 125,000 clients”.
- FinFit “provides a self-directed online experience that lets employees measure their financial well-being and provides fun, educational resources and tools to increase their financial knowledge and drive results.”
- Your Money Line is a financial wellness platform that enables access to quick yet comprehensive answers to employees’ most personal financial questions.
- In terms of trends, the future of financial wellness benefits is expected to shaped by different aspects, including multi-channel approach, accessibility to reliable resources, targeted communication, integrated, and personalized learning paths for exponential engagement.
- During the first hour of research, we have provided a brief overview of the US financial wellness markets as well as a few examples of financial wellness tools for employees.
- However, due to time restrictions, we could not provide other needed data points for this research. The research team will require extra hours to address the question fully
- As such, please proceed to choose one or more of the proposed next steps in the scoping section below.
Point of Clarification
- Did you mean that the research (especially spreadsheet) should focus on identifying existing financial wellness tools in the Midwest/rust belt areas, or can be from any parts of the US?.
Proposed next steps:
You need to be the project owner to select a next step.