Northwestern Mutual is much more than an insurance company. Throughout the past 20 years, the firm has significantly expanded its capabilities to deliver comprehensive financial planning in addition to its solid, 150-year foundation of insurance management. “We offer investment planning and risk management to help individuals reach their financial goals,” says managing partner Gerard Hempstead.
Ranked among the country’s top 10 independent broker-dealers—managing $78 billion in assets nationally and $2.5 billion locally—the firm is ready to help affluent families manage their current and long-term financial assets. Through its subsidiaries, Northwestern Mutual Investment Services and Northwestern Mutual Wealth Management Company, the firm provides a full range of financial-planning products, from advisory services, mutual funds and individual securities to brokerage services. “Our wealth management advisers are experienced professionals who have a detailed understanding of current tax laws and financial-planning strategies designed to achieve a variety of complex goals, including business succession planning,” notes managing partner Steve Gross.
Through its fact-finder client approach, advisers become familiar with each individual’s unique financial dreams from which they build a custom financial plan. Among offerings through the Northwestern Mutual Wealth Management Company are private client services—the same investment management strategies and professional services used to create, implement and monitor tailored investment plans for the firm’s fiduciary trust clients. “When you work with your wealth management adviser to help identify your goals and investment objectives, you can be certain that the investment management strategy we recommend for you is custom-built for your unique situation, using a wide range of investment strategies,” Gross explains.
And through Northwestern Mutual Wealth Management Company, advisers can serve as trustee, co-trustee or successor trustee for a wide range of trust accounts, Hempstead adds. “These include personal trusts, such as revocable and irrevocable trusts, whether created during your lifetime or established through your estate plan.”
Among its St. Louis area offices, the firm has 28 wealth management advisers, 25 certified financial planners and 10 fee-based financial planners to work with individuals on a variety of investment and retirement plans and strategies. And with the continued success of the firm’s two area network offices, Northwestern Mutual is looking to expand its diverse team with 100 more qualified financial professionals.
The firm’s unique advisory team sets it apart from competitors, Gross notes. “Working with one financial adviser who understands insurance, risk and the investment side, and knows how to integrate them into a successful financial plan, provides us with a real competitive advantage—one that works in the best interests for each of our clients.”