Financial wellness gets a lot of attention from employers and is part of the emerging total wellbeing category. Financial wellness itself takes many different forms. As we know, in HR and benefits nothing is one size fits all. So much is dependent on the demographics of your workforce. We see this category moving more toward a platform/marketplace model, where employers will provide some level of flexibility around elective benefits and capabilities to their employees who will ultimately engage with the apps or capabilities that work for them. Platforms will go beyond financial wellness and include physical, mental, financial, career, and other types of wellness.
We expect to see more consolidation in the wellness/total wellbeing category as the market moves in this direction.