Press release
The U.S. Financial Wellness Benefits Market Report 2023-2029, $1.21 Billion Revenue in the Next 6 Years - Arizton
The U.S. Financial Wellness Benefits Market Research Report by Arizton
To Know More, Click: [https://www.arizton.com/market-reports/financial-wellness-benefits-market-in-united-states]
Report Summary
Market Size (2029): $1.21 Billion
Market Size (2023): $587.02 Million
CAGR (2023-2029): 12.91%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Program, End-User, Delivery, Type, Industry, and Geography
Geographic Analysis: United States (South, West, Midwest, and Northeast)
Since 2020, U.S. employees' views on mental and physical wellness have evolved, with a growing focus on financial stability as a key element of overall well-being. New generations entering the workforce equate wellness with freedom from debt, financial security, and the ability to spend and save without worry. The COVID-19 pandemic highlighted the importance of these factors, particularly as financial stress affected employees across all age groups.
As companies faced uncertain financial conditions, they recognized that monetary benefits alone are not enough to retain employees. This shift has led to a greater emphasis on customized financial wellness programs, including debt counseling services, emergency savings accounts, caregiving loans, short-term loans, and payroll advances. Benefits such as tuition reimbursement have become less popular, while support for managing financial and health-related challenges has taken center stage.
With a workforce increasingly impacted by chronic health conditions, companies have become more proactive in addressing employee health and wellness. This approach reflects the growing importance of integrating financial health initiatives, benefit design, and contribution strategies to meet employees' evolving expectations. The emphasis is now on holistic wellness, where physical, mental, and financial well-being intersect.
Financial Planning: A Key to Achieving Financial Wellness in the U.S.
Financial planning plays a crucial role in achieving financial wellness in the U.S. by providing individuals with a structured approach to managing personal finances and reaching long-term goals. It helps create clear roadmaps for objectives such as buying a home, saving for education, or preparing for retirement. By addressing financial goals, it reduces stress, boosts mental and emotional well-being, and safeguards families through tools like life insurance and estate planning. Ultimately, financial planning is a key driver of financial security, offering a holistic approach to managing finances and building a stable future.
While most retirement plan vendors, such as those offering 401(k) plans, focus primarily on investment choices, they often lack the resources to provide comprehensive financial guidance. This gap has led to the rise of new players in the market, filling the void with tailored financial services.
For example, Edukate helps employees tackle various financial challenges, such as managing credit, purchasing a vehicle, budgeting, and planning for homeownership and estate planning. Similarly, Korving & Co. offers a Chartered Financial Consultant (CFP) program, providing education on investing, debt management, and retirement income planning. However, many advisory firms choose to offer these services externally to avoid potential conflicts of interest when conducting internal financial planning.
The Southern Region in the US to Hold the Largest Share
In 2023, the Southern region of the U.S. accounted for 34.59% of the nation's financial wellness benefits market. This region includes major states like Texas, Florida, Virginia, and Georgia, and is home to a significant number of employees. As one of the largest regions in terms of both companies and workforce size, the Southern U.S. holds the highest market share for financial wellness benefits.
Work, money, and the economy are primary sources of stress for individuals in the South. However, employees in the region recognize the importance of financial wellness programs in managing stress and promoting healthier lifestyle and behavior changes. Financial wellness benefits are seen as crucial for improving overall well-being.
Texas, the second-largest state by economic size, plays a key role in driving economic output, with industries like real estate, manufacturing, government, and professional services contributing significantly. Meanwhile, Florida's economy continues to thrive, despite a slight uptick in the unemployment rate. Job growth remains strong, with above-average income growth and continued economic resilience, ensuring the region's economic strength.
Competitive Overview
The U.S. financial wellness benefits market is growing, with over 300 players involved, including start-ups, employee benefits providers, banks, credit unions, non-profit organizations, and insurance companies. Many of these new players have limited track records but are rapidly entering the market to cater to at-risk individuals. To enhance their offerings, some financial wellness providers are partnering with or acquiring smaller players.
For example, many 401(k) advisors have partnered with unbiased financial wellness partners to incorporate these benefits into retirement plans. Retirement plan consultants, traditionally focused on 401(k)s, are increasingly adopting financial wellness as a core aspect of their business as the market shifts in that direction and employers show trust in their expertise.
Looking ahead, the future of financial wellness benefits is expected to be driven by targeted communication, an integrated, multichannel approach, easy access to reliable resources, and personalized learning paths, all of which will enhance employee engagement and participation.
Buy this Research @ [https://www.arizton.com/market-reports/financial-wellness-benefits-market-in-united-states]
Key Company Profiles
* Bank of America Merrill Lynch
* Financial Finesse
* Mercer
* Prudential Financial
* Virgin Pulse (Personify Health)
* Aduro
* Ayco
* BaySport
* Best Money Moves
* BrightDime
* BrightPlan
* Brightside
* Carelon Behavioral Health
* DHS Group
* Edukate
* Enrich
* Even (ONE@Work)
* Financial Fitness Group
* Financial Knowledge
* FinFit
* FlexWage
* Candidly
* GoPlan 101
* HealthCheck360
* Health Advocate
* Integrated Wellness Partners
* LearnLux
* LifeCents
* Limeade
* Mariner Wealth Advisors
* Money Starts Here
* My Secure Advantage
* Origin
* Payactiv
* Pro Financial Health
* Purchasing Power
* Questis
* Ramsey Solutions
* Salary Finance
* Savology
* Sqwire
* SoFi
* The Financial Gym
* Transamerica
* Your Money Line
Market Segmentation
Program
* Financial Planning
* Financial Education & Counseling
* Retirement Planning
* Debt Management
* Others
End-User
* Large Businesses
* Medium-Sized Businesses
* Small-Sized Businesses
Delivery
* One-On-One
* Online/Digital
* Group
Type
* Consumer Tools
* Employer Tools
Industry
* Healthcare
* Financial Services
* Education
* Manufacturing
* Public Sector
* Others
Region
* South
* West
* Midwest
* Northeast
Key Questions Answered in the Report:
How big is the U.S. financial wellness benefits market?
What is the growth rate of the U.S. financial wellness benefits market?
Which region dominates the U.S. financial wellness benefits market share?
What are the significant trends in the U.S. financial wellness benefits market?
Who are the key players in the U.S. financial wellness benefits market?
Check Out Some of the Related Reports
Fitness & Wellness Software Market - Global Outlook & Forecast 2025-2030
https://www.arizton.com/market-reports/financial-wellness-benefits-market-in-united-states
U.S. Corporate Wellness Market - Industry Outlook & Forecast 2024-2029
https://www.arizton.com/market-reports/us-corporate-wellness-market-analysis-2024
Why Arizton?
100%Customer Satisfaction
24x7availability - we are always there when you need us
200+Fortune 500 Companies trust Arizton's report
80%of our reports are exclusive and first in the industry
100%more data and analysis
1500+reports published till date
Post-Purchase Benefit
* 1hr of free analyst discussion
* 10% off on customization
About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Media Contact
Company Name: Arizton Advisory & Intelligence
Contact Person: Jessica
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=the-us-financial-wellness-benefits-market-report-20232029-121-billion-revenue-in-the-next-6-years-arizton]
Phone: +1 3122332770
Country: United States
Website: https://www.arizton.com/market-reports/financial-wellness-benefits-market-in-united-states
Legal Disclaimer: Information contained on this page is provided by an independent third-party content provider. ABNewswire makes no warranties or responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you are affiliated with this article or have any complaints or copyright issues related to this article and would like it to be removed, please contact retract@swscontact.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release The U.S. Financial Wellness Benefits Market Report 2023-2029, $1.21 Billion Revenue in the Next 6 Years - Arizton here
News-ID: 3930648 • Views: …
More Releases from ABNewswire
Phenix City Medical Practice Announces Expanded Healthcare Services, Addressing …
Preferred Medical Group, Phenix City, announces the expansion of its healthcare services and improved patient access, addressing community demand for comprehensive medical care with integrated pediatric, adult, and therapeutic services under one roof.
Preferred Medical Group, Phenix City [https://preferredmedgroup.com/], has announced significant enhancements to its healthcare services, responding to increased community demand for accessible and comprehensive medical care. The medical practice, located at 3700 South Railroad Street, has introduced streamlined patient…
Auburn Medical Practice Expands Integrated Care Model as Primary Care Doctor Add …
Preferred Medical Group - Auburn expands ADHD services and integrated care model, offering comprehensive family medicine, behavioral health, and specialized attention disorder treatment in one convenient East Alabama location.
Preferred Medical Group - Auburn [https://preferredmedgroup.com/] has announced significant enhancements to its integrated healthcare services, responding to increased demand for ADHD treatment and comprehensive family medical care in East Alabama. The Auburn location, situated at 318 Samford Village Court, Suite 100, now…
Local ADHD Doctor Program Launches at Preferred Medical Group - Opelika for East …
Preferred Medical Group - Opelika launches an integrated ADHD treatment program that combines pediatric care, psychiatry, and therapy services to address regional healthcare needs for East Alabama families.
Opelika healthcare providers have taken a significant step toward addressing the growing need for specialized attention deficit hyperactivity disorder services in East Alabama. Preferred Medical Group - Opelika [https://preferredmedgroup.com/] has announced the expansion of comprehensive ADHD treatment programs, integrating pediatric care with behavioral…
Prominent Criminal Lawyer in Galveston Firm Celebrates 25+ Years of Texas Gulf C …
Tad Nelson & Associates celebrates over 25 years of criminal defense excellence across the Texas Gulf Coast, combining local roots, community involvement, and personalized legal services that span multiple counties.
A prominent Texas law firm has reached a significant milestone, celebrating over 25 years of providing criminal defense and family law services across the Greater Houston area and Galveston County. The achievement underscores the firm's steadfast commitment to serving Texas communities…
More Releases for Financial
Financial Leasing Services Market Share, Size, Financial Summaries Analysis from …
Infinity Business Insights has recently released a comprehensive research report titled "Financial Leasing Services Market Insights, Extending to 2031." This publication spans over 110+ pages and offers an engaging presentation with visually appealing tables and charts that are self-explanatory. The worldwide Financial Leasing Services market is expected to grow at a booming CAGR of 6.3% during 2024-2031. It also shows the importance of the Financial Leasing Services market main players…
Global Financial Aid Management Software Market Streamlining Financial Assistanc …
Overview for the report "Financial Aid Management Software Market" Helps in providing scope and definations, Key Findings, Growth Drivers, and Various Dynamics by Infinitybusinessinsights.com. This report will help the viewer in Better Decision Making.
At a predicted CAGR of 10.9% from 2023 to 2028, The Market for Financial Assistance Management Software will increase from USD 1.07 billion in 2022 to USD X.XX billion by 2030. The market's expansion can be attributed…
What will be Driving Growth Financial Leasing Market 2027 | Bank Financial Leasi …
Financial Leasing Market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.
Ask for…
Financial Leasing Market 2017 Analysis – CDB Leasing, ICBC Financial Leasing C …
A financial lease is a method used by a business for acquisition of equipment with payment structured over time. To give proper definition, it can be expressed as an agreement wherein the lessor receives lease payments for the covering of ownership costs. Moreover, the lessor holds the responsibility of maintenance, taxes, and insurance.
In this report, RRI studies the present scenario (with the base year being 2017) and the growth prospects…
Financial Leasing Market Is Booming | KLC Financial, SMFL Leasing, GM Financial, …
HTF MI recently introduced Global Financial Leasing Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are Sumitomo Mitsui Finance and Leasing, Maldives, HNA Capital, KUKE S.A., KLC…
Financial Analytics Market: Banking & financial sector expected to make most of …
The Financial Analytics Market deals with the development, manufacture and distribution of financial analytics tools for enterprises of all kinds and sizes. Financial data analytics can be described as a set of tools, techniques and processes used to find out answers for various business questions as well as to forecast future scenarios regarding finance and the economy.
The services provided by the Financial Analytics Market are used for analyzing the equity…
