There are three primary ways that companies are starting to access participants through the workplace:

Acquisition – Acquiring certain companies and/or technologies to leverage their existing customer base. A great example of this strategy is Empower's recent acquisition of Personal Capital, a D2C fintech firm specializing in retirement planning and defined contribution account management.
Realignment – Strategically realign existing divisions internally. For instance, they might move their retirement division under their voluntary benefits division to access a greater share of the financial wallet through the workplace.
Strategic Partnerships – Choosing to partner with a specialized solution that doesn't require buying or building a recordkeeper or managed account firm is in many ways the best of both worlds. It allows access to the infrastructure required to quickly start generating revenue from defined contribution accounts without the tech lift.

The demand for financial wellness benefits continues to grow among employees. If offered a "financial advice benefit" at work, 84% of employees said they would consider it valuable. 1 in 2 said it would make them more likely to stay with their employer. The second data point alone makes this an attractive opportunity for voluntary benefits providers. They can offer a product with a long lifecycle that extends beyond the workplace while simultaneously increasing the lifespan of their other offerings.

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Let's talk about persistency in workplace benefits

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