Northwestern Mutual Financial Advisors Review

Services

Whether your financial goals include saving for retirement, saving for college, or being prepared for the unexpected, Northwestern Mutual has the tools to help. It offers general financial planning as well as IRAs, 401(k)s, college savings plans and estate planning. There's also private client services for clients with a high net worth. Once you set up one of these accounts, your Northwestern Mutual advisor will help you choose investments and manage your money responsibly.

Northwestern Mutual also offers a host of insurance products. There's whole, universal, and term life insurance for those who want to ensure their family is protected in the event of their passing. Many financial advisors offer life insurance, but fewer offer disability and long-term care insurance, so it's worth giving Northwestern Mutual a closer look if you're interested in either of these. The company also offers annuities for those seeking a guaranteed source of income in retirement.

Certifications

Northwestern Mutual is a member of the Financial Industry Regulatory Authority (FINRA) and approved by the Securities and Exchange Commission (SEC). It's also a member of the Securities Investor Protection Corporation (SIPC). These organizations help insure that all financial advisors operate lawfully and treat their clients fairly.

The company doesn't state on its website whether all of its advisors have some sort of professional certification like the Certified Financial Planner (CFP) designation. However, a search with Northwestern Mutual's Find an Advisor tool shows that at least some of its advisors have this certification or something similar. If you're unsure of your advisor's credentials, always ask before you agree to work with them.

Fee structure

Northwestern Mutual has a fee-based structure, which means that its advisors may earn commissions for recommending certain investment products over others. While this could potentially create conflicts of interest between you and your financial advisor, the Certified Financial Planner (CFP) Board requires all financial advisors who carry this distinction to act in the best interests of their clients. All the same, it's a good idea to do some research on the investments your advisor is recommending yourself to decide if they're actually right for you.

Northwestern Mutual doesn't publish its fee schedule online, which isn't unusual among financial advisors. But it's a good idea to ask about any associated costs before you open an account so you understand what you're signing up for.

Online resources

Northwestern Mutual has a Find an Advisor tool that matches you with the best financial advisor based on your location, assets and financial goals. Usually, this will be a Northwestern Mutual representative that lives in your area. If you already know of or are working with a Northwestern Mutual financial advisor, you can also look that person up through the online tool.

In addition, Northwestern Mutual also has a blog with helpful articles on money, retirement planning, insurance and more. If you're interested in educating yourself on how to manage your money more effectively, this is a good place to begin your research. Your financial advisor may also have personalized recommendations to help you reach your goals.