20 Best Financial Wellness Software Reviewed In 2024
Best Financial Wellness Software Shortlist
Here's my pick of the 10 best software from the 20 tools reviewed.
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Navigating financial wellness for your personal finances can be as challenging as finding the right software to help you build your portfolio. Many organizations struggle with providing effective resources to support their workforce’s financial health, leading to increased stress and decreased productivity.
As an HR technology analyst, I’ve observed a growing demand for solutions that address these issues head-on. Using my knowledge of HR software, I tested and reviewed several of the top financial wellness software on the market to help teams source the best options for their teams.
Whether you’re looking to implement a new system or enhance your current offerings, my guide will help you make informed decisions that benefit both your employees and your bottom line.
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Best Financial Wellness Software Summary
| Tools | Price | |
|---|---|---|
| Savology | Pricing upon request | Website |
| Questis | Pricing upon request | Website |
| Your Money Line | Pricing upon request | Website |
| LearnLux | Pricing upon request | Website |
| FinFit | Pricing upon request | Website |
| Mariner Financial Wellness Platform | From $8/user/month (min 5 seats, billed annually) | Website |
| Nudge Global | Pricing upon request | Website |
| Asset-Map | From $94/month | Website |
| Shareworks | Pricing upon request | Website |
| InvestCloud | Pricing upon request | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareHow to Choose a Financial Wellness Software
As you work through your own unique software selection process, keep the following points in mind:
- Employee Needs and Financial Challenges: Understanding the specific financial challenges your employees face is important. Conduct surveys to identify stressors such as high cost of living, low wages, debt, or uncertainty about the future. Tailoring the software to address these issues can significantly improve employee engagement and satisfaction.
- Program Features and Customization: Evaluate the features offered by the software and ensure they align with your employees' needs. Look for tools that provide budgeting assistance, financial goal planning, debt management, and money management coaching. Customization options, such as personalized financial planning tools and company branding, can enhance the relevance and effectiveness of the program.
- Financial Education Resources: Financial literacy is a cornerstone of effective financial wellness programs. Ensure your chosen software provides comprehensive educational resources, such as courses, articles, webinars, and access to financial coaches.
- Accessibility and Engagement: The software should be user-friendly and accessible on multiple devices, including mobile phones, to ensure employees can easily access resources anytime, anywhere. Additionally, features like gamification and rewards can make learning about finances more engaging and enjoyable.
- Scalability and Flexibility: As your organization grows, the financial wellness program should be able to scale accordingly. Ensure the software can accommodate an increasing number of users and offer additional resources as needed.
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Deel
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.8 -
Rippling
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.8 -
ClearCompany
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.6
Best Financial Wellness Software Reviews
This section provides an in-depth analysis and overview of each financial wellness software. Below, I will walk you through the pros and cons of each tool, their features, and their best use cases.
Savology is a financial wellness software that provides personalized financial planning for individuals and employees. It offers a range of tools and resources to help users improve their financial wellness and achieve their financial goals.
Why I picked Savology: Savology’s user-friendly experience with clear, step-by-step guidance, helps users improve their financial health by addressing a wide range of financial topics. The software provides users with actionable insights, interactive tools, and a structured approach to budgeting, making it easier to track expenses, set financial objectives, and make informed decisions. This personalized guidance helps users achieve financial stability and long-term financial health.
Standout features & integrations:
Features include foundational financial plans with a financial report card, personalized action items, financial literacy lessons, quizzes, articles, and personal financial management tools.
Integrations include Wealthbox CRM, Redtail CRM, Zoom, Gmail, Slack, and Zapier API for broader integrations.
Pros and cons
Pros:
- Accessible financial literacy resources
- High user satisfaction
- Comprehensive financial planning
Cons:
- Customization limitations for complex financial situations
- Limited in-depth investment advice
Questis is a financial wellness software. It offers personalized financial coaching, educational resources, and technology to help employees reduce financial stress and improve their overall financial well-being.
Why I picked Questis: Questis combines expert human advice with comprehensive digital tools, allowing for a customized and hands-on approach to financial education and planning. This makes it particularly effective for those seeking detailed, 1:1 guidance in managing their personal finances. Additionally, with its user-friendly interface and focus on both immediate economic challenges and long-term planning, Questis helps improve overall employee financial wellness.
Standout features & integrations:
Features include personalized financial coaching, AI-driven user experience, and a private social network for community support.
Integrations include ADP, Workday, SAP SuccessFactors, Oracle HCM, BambooHR, Gusto, QuickBooks, Xero, Paychex, and Zenefits.
Pros and cons
Pros:
- Community support
- AI-driven insights
- Personalized coaching
Cons:
- May be too generic for diverse workforces
- Limited focus on investment education
Your Money Line is a financial wellness software that combines AI-powered tools with live financial coaching to help employees manage their finances effectively. It’s best known for its AI-powered financial coaching, which provides personalized insights and guidance to users.
Why I picked Your Money Line: Your Money Line offers a unique combination of AI-powered software and live financial experts to help ensure that employees receive both automated insights and personalized human support. The software leverages advanced technology to provide real-time financial advice while also offering access to certified financial guides for more complex issues.
Standout features & integrations:
Features include unlimited financial coaching via phone, chat, or email, AI insights on spending, and advanced financial education resources such as on-demand courses, webinars, and articles.
Integrations include ADP, Paychex, Workday, BambooHR, Plaid, Vanguard, Zenefits, and Gusto.
Pros and cons
Pros:
- Advanced educational resources
- AI-powered insights
- Unlimited financial coaching
Cons:
- Limited to employee populations
- Minimal focus on long-term investment strategies
LearnLux is a digital financial wellness platform designed to improve the financial wellbeing of employees. It offers personalized financial plans, self-paced learning, digital events, and 1:1 calls with Certified Financial Planners.
Why I picked LearnLux: LearnLux’s commitment to fiduciary financial guidance sets it apart from other financial wellness software. Its focus on unbiased, fiduciary advice ensures that employees receive the best possible financial guidance tailored to their individual needs.
Standout features & integrations:
Features include personalized financial plans, benefits education and total rewards tools, financial checkups, cashflow calculators, and retirement readiness models.
Integrations include ADP, Workday, SAP SuccessFactors, Oracle HCM, BambooHR, Gusto, Zenefits, Paychex, QuickBooks, and Xero.
Pros and cons
Pros:
- Behavioral insights integrations
- Customization for corporate programs
- Financial literacy resources
Cons:
- Limited availability of real-time financial data
- Lack of in-depth personal financial planning tools
FinFit is a financial wellness program offering solutions and tools for individuals and employers, including credit, student loan repayment, financial assessment, coaching, budget calculators, and educational resources.
Why I picked FinFit: FinFit stands out with its extensive range of financial wellness tools that cater to both immediate financial needs and long-term financial planning. The software’s ability to offer quick and convenient financial solutions makes it the best choice for those needing immediate financial assistance and educational resources.
Standout features & integrations:
Features include personalized financial assessments, online education tools and resources, student loan services, an early wage access solution, game-based education, budgeting apps, and credit and banking resources.
Integrations include PrismHR, Virgin Pulse, PeopleStrategy, Paychex, ADP, Workday, Ultimate Software, Kronos, BambooHR, and Zenefits.
Pros and cons
Pros:
- Educational resources
- Quick financial solutions
- Comprehensive financial tools
Cons:
- Complex navigation
- Limited customization options
Mariner Financial Wellness Platform is a next-level financial wellness solution designed to improve employees' financial well-being through personalized education and coaching.
Why I picked Mariner Financial Wellness Platform: Mariner Financial Wellness Platform’s holistic approach to financial wellness sets it apart from other tools. The software offers a combination of personalized financial education, goal tracking, and 1:1 coaching designed to help an array of individuals. Through these services, it addresses multiple aspects of financial health to ensure that employees receive well-rounded support across their financial journey.
Standout features & integrations:
Features include personalized financial education, budgeting tools, goal setting and tracking, and 1:1 financial coaching. The platform also offers employer reporting to track the impact of the benefit on employee productivity and retention.
Integrations include Salesforce, Microsoft Dynamics, Oracle, SAP, Redtail Technology, Morningstar, BlackRock, Fidelity, Charles Schwab, and TD Ameritrade.
Pros and cons
Pros:
- Employer reporting
- Personalized coaching
- Comprehensive financial education
Cons:
- Lack of customization options
- Limited international support
Nudge is a financial wellbeing platform that offers global, impartial financial education for individuals. It combines behavioral psychology, data, and personalized education to empower people to develop their financial skills and knowledge.
Why I picked Nudge: Nudge offers an advanced approach to global financial education. Unlike other platforms, the software is a truly international solution, making it accessible and relevant to users in 195 countries. This global reach, combined with its focus on impartial financial education, sets it apart from other financial wellness tools.
Standout features & integrations:
Features include personalized financial education, behavioral psychology insights, and data-driven recommendations. Nudge also offers resources like webinars, podcasts, infographics, and whitepapers to support users' financial journeys.
Integrations include Microsoft Teams, Slack, Google Calendar, Workday, SuccessFactors, Oracle HCM, SAP Concur, Yammer, SharePoint, and Salesforce.
Pros and cons
Pros:
- Data-driven insights
- Impartial education
- Global reach
Cons:
- Mobile app limitations
- Complex onboarding processes
Asset-Map is a financial mapping software designed for advisors to visually organize their clients' finances. Its visual financial mapping capabilities successfully help advisors deliver clear and engaging financial advice.
Why I picked Asset-Map: Asset-Map provides a unique approach to financial planning through visual mapping. Unlike other financial wellness benefit tools, Asset-Map stands out by providing a clear graphical layout of clients' finances, making it easier for advisors to offer real-time insights. This visual approach is particularly effective in enhancing client understanding and engagement.
Standout features & integrations:
Features include visual financial maps, target-maps for goal tracking, client relationship management, client engagement tools, secure document storage, customizable templates, progress tracking, proactive client management, and detailed reporting.
Integrations include Salesforce, Redtail, Wealthbox, Orion, eMoney, MoneyGuidePro, Riskalyze, Morningstar, Albridge, and Black Diamond.
Pros and cons
Pros:
- Easy-to-use platform
- Real-time insights
- Clear visual financial mapping
Cons:
- Requires integration setup
- Limited to financial advisors
Shareworks is a cloud-based equity compensation administration platform. Its advanced tools for managing stock options, RSUs, and other equity plans make it a top option for employees seeking a strong financial management platform.
Why I picked Shareworks: Shareworks’ ability to provide an advanced overview of the current dollar value of options and its strong tools for managing equity plans make it a unique and valuable tool. Additionally, the software simplifies complex tasks such as payroll, tax, and financial reporting, which are important for companies managing equity compensation.
Standout features & integrations:
Features include equity plan management, real-time tracking of equity value, and detailed financial reporting.
Integrations include Workday, SAP SuccessFactors, ADP, Oracle HCM, BambooHR, Gusto, QuickBooks, Xero, NetSuite, and Microsoft Dynamics.
Pros and cons
Pros:
- Detailed reporting
- Real-time tracking
- Comprehensive equity management
Cons:
- Difficult for non-financial users
- Outdated interface
InvestCloud is a digital platform that offers modular digital wealth solutions, enhancing productivity and engagement for advisors and their clients. Its scalable, modular technology platform spans the complete wealth continuum, helping individuals requiring different investment and financial services.
Why I picked InvestCloud: InvestCloud offers a unique approach to providing modular digital wealth solutions. The software’s ability to offer a scalable and extendable platform that integrates with certified systems and tools makes it particularly effective for financial advisors and their clients, providing an advanced digital experience.
Standout features & integrations:
Features include digital wealth management, client and advisor experiences, client-led and advisor-led planning, self-directed trading, portfolio management, trade execution, accounting, performance measurement, billing, engaging design using gaming and decision theory, modular technology platform, digital warehouse for data normalization, and scalability.
Integrations include Salesforce, Microsoft Dynamics, Oracle, SAP, Redtail Technology, Morningstar, BlackRock, Fidelity, Charles Schwab, and TD Ameritrade.
Pros and cons
Pros:
- Unified data model
- Extensive network access
- Modular and scalable
Cons:
- Complex setup
- High dependency on data quality
Other Financial Wellness Software
Below is a list of additional financial wellness software that I shortlisted. While they didn’t make the top 10, they’re still valuable and worth further research.
- Insightsoftware
Best for accounting reporting and analytics
- MindBody
Best for economic company wellness
- DataRails
Best for financial planning and analysis
- OneVest
Best for investment processing
- NetSuite
Best for integration with ERP systems
- Vivid Reports
Best for automated financial analysis
- Vyzer
Best for professional wealth management
- OneSumX
Best for regulatory reporting
- SAP Fioneer
Best for ESG finance solutions
- Drive
Best for open banking solutions
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Financial Wellness Software Selection Criteria
The criteria for choosing a financial wellness software should directly address buyer needs and common pain points, ensuring that the software serves its intended purpose effectively. As an expert who has personally tried and researched these tools, here are the requirements I use when evaluating software:
Core Functionality: 25% of total weighting score
- Budgeting and expense tracking
- Financial goal setting and progress tracking
- Debt management tools
- Savings and investment planning
- Personalized financial advice and education
Additional Standout Features: 25% of total weighting score
- Integration with other financial tools and platforms
- AI-driven financial insights and recommendations
- Gamification elements to encourage user engagement
- Customizable financial plans and reports
- Mobile app functionality with real-time updates
Usability: 10% of total weighting score
- Intuitive user interface with clear navigation
- Customizable dashboards and reports
- Drag-and-drop functionality for financial planning
- Easy-to-understand visualizations and charts
- Responsive design for use on various devices
Onboarding: 10% of total weighting score
- Availability of comprehensive training videos and tutorials
- Interactive product tours and walkthroughs
- Pre-built templates for quick setup
- Access to live webinars and Q&A sessions
- Chatbots and in-app support for immediate assistance
Customer Support: 10% of total weighting score
- 24/7 customer support availability
- Multiple support channels (phone, email, live chat)
- Dedicated account managers for personalized assistance
- Extensive knowledge base and FAQs
- Fast response times and resolution rates
Value For Money: 10% of total weighting score
- Competitive pricing compared to similar tools
- Transparent pricing structure with no hidden fees
- Flexible subscription plans and payment options
- Discounts for long-term commitments or bulk purchases
- Free trial or demo period to test the software
Customer Reviews: 10% of total weighting score
- High overall satisfaction ratings
- Positive feedback on ease of use and functionality
- Consistent praise for customer support and onboarding
- Testimonials highlighting the tool's impact on financial wellness
- Frequent updates and improvements based on user feedback
Trends in Financial Wellness Software
Here are some trends I’ve noticed for financial wellness software, plus what they might mean for the future. I sourced countless product updates, press releases, and release logs to tease out the most important insights.
- AI-Driven Personalization: AI-driven personalization tailors financial advice to individual users. Overall, this enhances user engagement and helps users make better financial decisions.
- Blockchain Integration: Blockchain integration ensures secure and transparent transactions. This trend is interesting due to its potential to reduce fraud while increasing trust in financial platforms.
- Gamification: Gamification uses game-like elements to make financial management engaging. With this, companies can boost user motivation while helping users learn financial concepts more effectively.
- Real-Time Financial Tracking: Real-time financial tracking provides users with up-to-the-minute data. This not only aids in immediate decision-making, but also helps users stay on top of their finances.
- Mental Health and Financial Wellness: Integrating mental health support with financial wellness tools addresses the link between financial stress and mental health. This trend is significant as it offers holistic support and helps users manage both their finances and well-being.
These initiatives are empowering employees to make informed financial decisions while also supporting companies in fostering a more engaged and productive workforce. Staying abreast of these trends will be vital for employers looking to enhance their financial wellness benefits package and deliver meaningful support to their teams.
What is Financial Wellness Software?
Financial wellness software is a tool designed to help individuals manage their personal finances, improve financial literacy, and achieve financial goals. Components of financial wellness software typically include budgeting tools, financial education resources, goal-setting features, and personalized accounting advice. These elements work together to help users understand their economic situation, make informed decisions, and plan for their financial future.
Features of Financial Wellness Software
Financial wellness software is designed to help individuals and organizations manage their finances more effectively. These tools provide a range of features that can assist users in budgeting, saving, investing, and planning for the future, including:
- Integration with Financial Accounts: This allows the software to connect with your existing bank accounts, credit cards, and investment accounts. It provides an advanced overview of your financial situation, making it easier to manage your money.
- Personalized Insights and Recommendations: Financial wellness software should offer personalized advice based on your unique financial situation. This helps you make informed decisions and take actions that are tailored to your needs.
- Goal Setting and Tracking: The ability to set and track financial goals is more important than you think. Whether you are saving for a down payment on a house or paying off debt, this feature helps you stay on track and measure your progress.
- Budgeting Tools: Effective budgeting tools help you create and manage a budget by tracking your income and expenses. Some software even offers automated categorization of transactions to provide a clear picture of your spending habits.
- Debt Management: This feature helps you manage and prioritize your debt repayment. It can include tools for tracking debt, calculating interest, and creating a repayment plan.
- Investment Tracking: For those with investments, the software should be able to aggregate and display investment account information. This allows you to monitor your portfolio’s performance and make informed investment decisions.
- Educational Resources: Many financial wellness platforms offer educational content such as articles, videos, and webinars. These resources help improve your financial literacy and empower you to make better financial decisions.
- Retirement Planning: Planning for retirement is a vital aspect of financial wellness. The software should help you estimate future expenses, assess your retirement savings, and adjust your financial strategies accordingly.
- Strong Security Measures: Given the sensitive nature of financial data, strong security measures are essential. Look for software that offers encryption, secure login, and other security features to protect your information.
- User-Friendly Interface: A user-friendly interface and easy navigation are important for ensuring that you can use the software effectively. The software should be intuitive and accessible, even for those who are not tech-savvy.
Benefits of Financial Wellness Software
Financial wellness software can provide valuable insights, automate processes, and offer personalized advice to help users improve their financial health. Along with these perks, here are some additional benefits you may experience with financial wellness software.
- Improved Financial Literacy: The software educates users on various financial topics, helping users make informed decisions and better manage their money.
- Personalized Financial Planning: It offers tailored financial plans based on individual goals and circumstances, ensuring users can achieve their economic objectives.
- Automated Savings and Investments: The solution automates savings and investment processes, making it easier for users to grow their wealth without constant manual intervention.
- Debt Management: Financial wellness software provides tools and strategies to manage and reduce debt, helping users achieve financial stability and reduce stress.
- Enhanced Employee Productivity: For organizations, offering financial wellness software as a benefit can lead to increased employee satisfaction and productivity, as financial stress is a common distraction in the workplace.
By improving financial literacy, offering personalized plans, automating savings, managing debt, and enhancing productivity, financial wellness software can provide significant value to their users, leading to long-term financial health and stability.
Costs & Pricing of Financial Wellness Software
When selecting financial wellness software, it’s important to understand the different pricing plans available and what they offer. Each plan is designed to cater to various business sizes and employee needs, providing a range of features that can help enhance financial literacy and overall well-being.
Here’s an overview of typical plan options and their associated costs:
Plan Comparison Table for Financial Wellness Software
| Plan Type | Average Price | Common Features |
| Free Plan | $0 | Basic financial education resources, budgeting tools, and limited access to advisors. |
| Basic Plan | $5/user/month | Essential financial literacy content, basic budgeting tools, access to webinars, and email support. |
| Standard Plan | $10/user/month | All Basic features, plus personalized financial assessments, goal-setting tools, live chat support, and integration with payroll systems. |
| Premium Plan | $20/user/month | All Standard features, plus access to certified financial planners, advanced investment education, customizable employee dashboards, and detailed analytics. |
| Enterprise Plan | Custom pricing | All Premium features, plus dedicated account management, bespoke financial wellness programs, comprehensive reporting, and priority support. |
Choosing the right plan depends on your organization’s size, budget, and specific employee needs. Consider the level of support and customization required to maximize the impact of your financial wellness program.
Financial Wellness Software FAQs
Here are some commonly asked questions I’ve received about financial wellness software:
How can financial wellness software integrate with existing payroll systems?
Financial wellness software can integrate with existing payroll systems through APIs (Application Programming Interfaces) that allow efficient data exchange between the two platforms. This integration ensures that employee financial data is accurately reflected in both systems, enabling features like automated savings, real-time financial advice, and personalized financial planning based on payroll information.
What security measures are in place to protect employee financial data?
Most financial wellness software providers implement robust security measures to protect employee financial data. These measures typically include encryption of data both in transit and at rest, multi-factor authentication, regular security audits, and compliance with data protection regulations such as GDPR and CCPA. Additionally, some platforms offer features like role-based access control to ensure that only authorized personnel can access sensitive information.
How do financial wellness programs measure their effectiveness?
Financial wellness programs measure their effectiveness through various metrics such as employee engagement rates, financial health scores, and changes in financial behaviors over time. Surveys and feedback forms can also be used to gather qualitative data on employee satisfaction and perceived value. Additionally, some programs track specific outcomes like reduced financial stress, increased savings rates, and improved credit scores.
Is it possible to customize financial wellness programs to fit the needs of different employee demographics?
Yes, many financial wellness software platforms offer customization options to fit the needs of different employee demographics. This can include tailoring content and resources based on factors like age, income level, financial goals, and life stages. Customization ensures that the program is relevant and valuable to all employees, regardless of their financial situation.
How do financial wellness programs support employees during financial crises?
During financial crises, financial wellness programs can provide immediate support through emergency savings funds, financial counseling, and access to short-term loans. Many platforms also offer resources and advice on managing financial stress, navigating unemployment, and accessing government assistance programs. This support helps employees maintain financial stability and reduces the overall impact of the crisis on their well-being.
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