The Promise of Financial Wellness: The Battle to Deliver

Offering financial wellness capabilities could soon become table stakes for financial services firms targeting the workplace.

Boston, November 12, 2020 – Over the last two to three years, providers of employer financial benefits, particularly retirement plan providers, have enhanced their offerings to include financial wellness capabilities. Employers have been receptive to these solutions, which can assuage growing employee financial stress, and the pandemic is catalyzing increased employer interest in these solutions.

This report explores the trends driving financial wellness strategies as well as the objectives and core components of these solutions. This report also reveals the landscape of providers that aim to address the financial guidance needs of all Americans across all wealth levels. The research is based on 25 in-depth interviews with a variety of financial wellness providers in the wealth management, defined contribution retirement plan, banking, healthcare, and employee benefits markets.

This 35-page Impact Report contains 14 figures and five tables. Clients of Aite Group’s Wealth Management service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Abaka, Albert, Alerus, Alight, Alliant, American Consumer Credit Counseling, Amino, Ascensus, Ayco, Bank of America, BenefitWallet, Best Money Moves, Betterment, BrightDime, BrightPlan, Brightside, Charles Schwab, CommonBond, Credible,, Edelman Financial Engines, edukate, eMoney Advisor, Empower Retirement, Enrich, Envestnet Yodlee, Facet Wealth, Fidelity, Financial Fitness Group, FinFit, Further, Gallagher, GreenPath, Harvest Savings & Wealth Technologies, HealthEquity, Hightower Fiduciary Plan Advisors, HoneyBee, HSA Bank, InvestCloud, John Hancock, Kashable, KeyBank, LearnLux, Lively, Marcus by Goldman Sachs, Mentoro Group, Mercer, MetLife, Millennium Trust Company, Money Experience, MoneyLion, Money Management International, Moneymap, Morgan Stanley, MSA, Mvelopes, MX, NextCapital, Nummo, Optum Bank, Personal Capital, Principal Financial, Pro Financial Health, Prudential, PwC, Questis, Salary Finance, Savi, Savology, SAVVI Financial, Securian, SmartDollar, SoFi, T. Rowe Price, The HSA Authority, TIAA, TransPecos Banks, Truist,, UBS, USAA, Vanguard, Voya, Wealthsimple, Willis Towers Watson, and Your Money Line.

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