Halfway through 2021, assets in health savings accounts totaled $92.9 billion, a year-over-year increase of 26%, according to a study by Devenir, a Minneapolis-based HSA specialist.
The study found that almost $24 billion was contributed to health savings accounts during the first half of the year and that there are now more than 31 million HSAs, up 6% over the same year-over-year period.
The survey data, collected mostly in July from the top 100 providers in the HSA market, all reflect the period ending June 30, Devenir said in a release.
During the first half, HSA account holders withdrew more $16 billion from their accounts, down 1% from the withdrawals during the same period in 2020.
More investing is occurring in the accounts, according to the study, with almost 2 million accounts, more than 6% of the total, investing some of the money in the account.
Devenir currently expects that by the end of 2023, there will be more than 36 million HSAs holding over $131 billion in assets.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
Raymond James also lured another ex-Edward Jones advisor in South Carolina, while LPL welcomed a mother-and-son team from Edward Jones and Thrivent.
MyVest and Vestmark have also unveiled strategic partnerships aimed at helping advisors and RIAs bring personalization to more clients.
Wealth management unit sees inflows of $23 billion.
Deal will give US investment bank a foothold in lucrative European market.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
