Voya Research Reveals Confidence Gap in Financial Decision-Making — Voya Financial, Inc.

Event summary

Voya Financial's research found 53% of Americans use digital tools for financial information, but 56% struggle to apply it personally.
70% of consumers agree finding financial information is easy, but 58% have encountered conflicting advice.
42% of respondents wish they had consulted a financial professional before making key financial decisions.
Voya's Wealth Management business offers personalized guidance without minimum balance requirements.

The big picture

Voya's findings highlight a growing disconnect between information abundance and consumer confidence in financial decision-making. As digital tools proliferate, traditional advisory services face an opportunity to reposition themselves as filters for credible, personalized guidance. The research suggests a potential market shift toward hybrid models combining digital access with human expertise, particularly in workplace benefits settings.

What we're watching

Advisor Accessibility: Whether Voya can effectively communicate the accessibility of financial guidance to consumers who perceive it as out of reach.
Digital Trust: How financial institutions will address the 58% of consumers encountering conflicting information online.
Employer Partnerships: The pace at which workplace benefits providers integrate financial guidance into employee offerings.