U.S. Financial Wellness Benefits Market, By Type (Financial Planning, Financial Education and counselling, Retirement Planning, Debt Management, and Others), By End User (Large Business, Medium-Sized Business, and Small-Sized Business), By Delivery (One-On-One, Online/Digital, and Group) - Trends, Analysis and Forecast till 2034

Report Code: PMI395020 | Publish Date: January 2024 | No. of Pages: 170

US Financial Wellness Benefits Market Overview

Introduction:

U.S. financial wellness benefits market is evolving with a new generation of employees (Millennials) entering workplaces. The employer and the employee are now more focused on financial stability and wellness. The employers are offering financial education on a range of topics such as insurance basics, cash flow management, budgeting, and investments among others. Interestingly, a two-third of these programs are sponsored by employers themselves. Further, vendors have launched several wellness-oriented programs to supplement the financial education of employees. For instance, Best Money Moves enables employers to identify the source of financial stress through its stress meter, which measures several types of financial stress, ranging from bankruptcy to student loan and provides customized solutions.U.S. financial wellness benefits market accounted for US$ 0.9 Billion in 2024 and is estimated to be US$ 6.6 Billion by 2034 and is anticipated to register a CAGR of 22.1 %.

Drivers and Restraints:

U.S. financial wellness benefits market is becoming increasingly data-driven. In this economic environment of rising volatility, growing uncertainty and risk, financial planning, managing, and forecasting solutions provide the user with speed, agility, and foresight about the business to compete in the market in a better way. Using these solutions, clients can synthesize information better, uncover trends in the market, and deliver insights to improve decision making throughout the enterprise, which is the driving factor for the market. Moreover, with the growing focus on data-driven financial decisions in various end-user verticals, and the emergence of big data, demands solutions which can tackle large amounts of data and can provide valuable insights, are some of the factor driving the growth of the market. Furthermore, with the development of enhanced technologies in business analytics and business intelligence domain and the extended focus on data transparency, is driving the demand for these solutions across various industries. Some Restraints are misalignment in financial wellness offerings, the elusive ROI, low employee participation and engagement, and Fiduciary Concerns may hinder efforts of the key player and ultimately decrease the growth rate of the targeted market. Organizations are investing in technology and expanding HR capabilities to measure financial initiatives is an opportunity for the US financial wellness benefits market.

Segmentation:

U.S. financial wellness benefits market is segmented based on type, end-user, delivery, and region.

Based on the Type, the target market is segmented into financial planning, financial education and counselling, retirement planning, debt management, and others. The financial planning segment has dominated the market and is expected to grow at a high CAGR during the forecast period, it includes assistance and advice on budgeting, devising investment strategies. Based on end-user, the global market is classified into a large business, medium-sized business, and small-sized business. Large companies have invested more in the financial wellness program, and the segment is expected to grow at a high CAGR during the forecast period.  Based on delivery, the target market is bifurcated into one-on-one, online/digital, and group. One-on-one assistance is gaining popularity and is growing at a high CAGR. Employees are seeking one-on-one interaction as it provides clarity about financial terms.

Key Players:                                                                                                  

The key players operating the U.S. Financial Wellness Benefits Market involves Prudential Financial, Bank of America, Fidelity, Mercer, Financial Finesse, Aduro, Ayco, Beacon Health Options, Best Money Moves, and BrightDime. For instance, On August 28, 2019, Prudential Financial, has launched a new operating model for its U.S. marketing organization that will enable the company to forge deeper connections with customers. On April 11, 2019, Prudential Finance expands financial wellness capabilities to address Americans' most pressing financial challenges, the solution will help to manage loan debt, navigate job changes etc.

Detailed Segmentation:

U.S. Financial Wellness Benefits Market, By Type:

  • Financial Planning
  • Financial Education and counselling
  • Retirement Planning
  • Debt Management
  • Others

U.S. Financial Wellness Benefits Market, By End User:

  • Large Business
  • Medium-Sized Business
  • Small-Sized Business

U.S. Financial Wellness Benefits Market, By Delivery:

  • One-On-One
  • Online/Digital
  • Group

Company Profile:

  • Prudential Financial
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business strategies
  • Bank of America
  • Fidelity
  • Mercer
  • Financial Finesse
  • Aduro
  • Ayco
  • Beacon Health Options
  • Best Money Moves
  • BrightDime

 “*” marked represents similar segmentation in other categories in the respective section

US Financial Wellness Benefits Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Industry Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for U.S. Financial Wellness Benefits Market Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Type
      • Market Snippet, By End User
      • Market Snippet, By Delivery
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
      •  
  5. U.S. Financial Wellness Benefits Market, By Type, 2024 – 2034, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Financial Planning
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Financial Education and counselling
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Retirement Planning
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Debt Management
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Others
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  6. U.S. Financial Wellness Benefits Market, By End User, 2024 – 2034, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Large Business
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Medium-Sized Business
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Small-Sized Business
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  7. U.S. Financial Wellness Benefits Market, By Delivery, 2024 – 2034, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • One-On-One
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Online/Digital
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Group
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis

Company Profiles

  • Prudential Financial
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business strategies
  • Bank of America
  • Fidelity
  • Mercer
  • Financial Finesse
  • Aduro
  • Ayco
  • Beacon Health Options
  • Best Money Moves
  • BrightDime 
  1. The Last Word
    • Future Impact
    • About Us
    • Contact