Northwestern Mutual to Recruit More Than 5,000 Financial Professionals in 2012
Steadily growing demand for financial planning drives largest recruiting effort in company’s 155-year history
MILWAUKEE, February 1, 2012 /PRNewswire/ — In lockstep with more Americans seeking advice and taking action to plan for financial security in retirementi, Northwestern Mutual is embarking on the company’s largest recruiting effort in its 155-year history. During the course of 2012, Northwestern Mutual intends to add more than 2,000 financial representatives and 3,000 financial representative interns.
Expanding its network of financial representatives is imperative for keeping pace with the demonstrated need for Northwestern Mutual’s tailored planning approach, and its asset protection, growth and savings solutions. A poll conducted by Harris Interactive last year found that Americans overwhelmingly prefer choices that deliver higher quality, long-term growth and guarantees, versus options that are cheaper and faster in the short term, but may be higher risk or deliver less return over the long term. This trend is underscored by the fact that in 2011, Northwestern Mutual added more than 350,000 new policies, the largest annual total in almost 20 years.
“People want off the rollercoaster ride of short term economic and market uncertainty. They’re stopping the ride and stepping off because they’re shifting their focus to variables they can control and seeking trusted advice in the process,” says Steven C. Mannebach, vice president — field growth and development.
In 2011, Northwestern Mutual successfully recruited more than 2,200 financial representatives, which represents a 55 percent increase over its results five years prior. Mannebach says the growth of Northwestern Mutual’s network of financial representatives is also attributed to the firm’s financial strengthii and its industry-leading dividends, which will total nearly $5 billion in 2012, the second-highest amount of policyowner dividends in the company’s history.iii
“Working with an industry leader is beneficial on several fronts,” adds Mannebach. “It benefits the financial representative and the client—both of whom need and want a partnership that endures for decades to come.”
Career Changers Sought
The company expects that more than 50 percent of new financial representatives will be career changers: professionals who believe that they have reached the ceiling in their current occupation and are looking for an opportunity to grow in a challenging jobs market.
“We’re seeing an uptick in energized professionals who are looking for new opportunities to grow in their professional lives and who are immediately attracted to the opportunity to work with an industry leader,” says Mannebach. “These career changers are motivated by the rewards, both personally and professionally, of helping people shape and execute plans to realize their life goals.”
Company Receives Numerous Honors
For the 15th consecutive year, Northwestern Mutual’s financial representative internship program is one of the “Top 10 Internships in America,” according to Vault®. Working with a mentor provides interns an opportunity to test drive and get an insider’s glimpse into the industry. This approach has helped Northwestern Mutual retain and grow its field leaders — 45 percent of the company’s senior field management began their careers with the company as an intern.
Selling Power magazine’s annual “50 Best Companies to Sell For” issue (November 2011) ranked Northwestern Mutual number one in its industry and 16th overall among service companies, validating the company as an ideal place to launch and grow a career.
Northwestern Mutual was named one of the “Top 100 Employers for the Class of 2011” by Diversity Employers magazine, illustrating its commitment to a diverse and inclusive work environment.
The company was named “World’s Most Admired” life insurance company by FORTUNE® magazine in 2011. It was also ranked number one in customer satisfaction for the third year in a row, according to the latest American Customer Satisfaction Index (ASCI).
Career seekers can contact a nearby Northwestern Mutual office to learn more about a financial representative career by visiting: http://www.northwesternmutual.com/find-an-office.aspx.
About Northwestern Mutual
The Northwestern Mutual Life Insurance Company — Milwaukee, WI (Northwestern Mutual) — “World’s Most Admired” life insurance company in 2011 according to FORTUNE® magazine, has helped clients achieve financial security for more than 150 years. As a mutual company with $1.2 trillion of life insurance protection in force, Northwestern Mutual has no shareholders. The company focuses solely and directly on its clients and seeks to deliver consistent and dependable value to them over time. Northwestern Mutual and its subsidiaries offer a holistic approach to financial security solutions including: life insurance, long-term care insurance, disability insurance, annuities, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; and Northwestern Long Term Care Insurance Company; and Russell Investments.
i According to LIMRA’s 2009 report “The Advisor for Life”, more than 90 percent of individuals with an advisor are relying on their primary advisor for advice ‘saving for retirement’
ii Although ratings are subject to change, Northwestern Mutual has the highest financial strength ratings awarded to any life insurer by all four of the major rating agencies: Fitch Ratings AAA (highest), 08/2011, Standard & Poor’s AA+ (second highest), 08/2011, A.M. Best Company A++ (highest), 02/2011, and Moody’s Investor Service Aaa (highest). 10/2011.
iii In October 2011, Northwestern Mutual announced a nearly $5 billion dividend payment to participating policyowners, the second-largest in the company’s history. While dividends aren’t guaranteed, the company has consistently paid dividends since 1872.