MILWAUKEE, March 19, 2025 /PRNewswire/ -- Northwestern Mutual, a leading financial services company, is announcing a goal to recruit more than 5,000 financial advisors, representatives, and interns in 2025. With 30% of Americans saying they are feeling financially insecure – near the highest levels we've recorded in over a decade – there is a strong need for financial professionals who want to have a positive impact on peoples' lives. Northwestern Mutual advisors, representatives, and interns are committed to helping others build comprehensive financial plans that combine risk protection and wealth management.
" Financial insecurity continues to be an epidemic in America – and many people are looking for an advisor to guide them down a path toward greater financial security," said Northwestern Mutual Chief Field Officer John Roberts. "At the same time, a generation of advisors see their own retirement on the horizon, and more Americans than ever are willing to make a career change. These converging trends are creating an unprecedented opportunity for the financial services industry, and for mission-minded professionals ready to elevate not only their careers, but the lives of others."
Northwestern Mutual serves over five million clients – more than ever before – and as a leading financial planning firm offers a suite of insurance and wealth solutions such as life insurance, disability income insurance, long-term care insurance, annuities, and myriad wealth advisory solutions. It expects to award its policyowners a company-record $8.2 billion in insurance dividends i this year – an industry-leading sum nearly triple its nearest competitor. Northwestern Mutual has also earned the highest-available financial strength ratings ii of any U.S. life insurance company from all four major agencies – Fitch Ratings (Fitch), Moody's Ratings (Moody's), S&P Global Ratings (S&P), and AM Best Company (AM Best).
A growing need for trusted advice as many advisors plan to retire
The need for financial advice – and financial advisors – is growing. More than 100 million Americans are uninsured or underinsured, and according to Northwestern Mutual's research, the gap between people's retirement goals and savings is widening. On average, Americans believe that they will need to save $1.46 million to retire comfortably, but have just a fraction of that amount saved. Conversely, 64% of Americans working with an advisor reported feeling financially secure, compared to just 29% without an advisor.
Most Americans also continue to say that they prefer a relationship with an advisor versus a technological solution to manage their money. While "Gen AI" and "robo advisers" have generated a lot of headlines, a wide margin – 54% to 15% – said they still trust financial advisors more than AI alone across most core elements of financial planning.
Meanwhile, a 2024 report found that financial advisors are retiring at a faster pace than they are being recruited and developed. The report predicts that 109,000 financial advisors in the U.S. will retire over the next 10 years, representing nearly 40% of all advisors in the U.S. In the next decade, McKinsey & Company predicts that the financial advice industry will face a shortage of roughly 100,000 advisors.
Work/life independence and nationally recognized training and development program
Successful Northwestern Mutual financial advisors come from a wide variety of career backgrounds. Northwestern Mutual provides award-winning training, professional development, and mentoring to help ensure each new advisor's success.
"Our best, most successful financial professionals are individuals who are already successful in their chosen careers, but are looking for something more," said Roberts. "It may be that they are more entrepreneurial by nature and feel limited by a 9-to-5 job and income that doesn't fully reflect their hard work. Or they may aspire to make a true impact for people and families by empowering the creation of intergenerational wealth."
Financial advisors are in business for themselves, but not by themselves. As they build the enterprise value of their own firm, they have the backing of one of the strongest companies in the world and the local coaching and guidance to make a true impact for both their community and for themselves.
"Our training and development teams are second-to-none both in their experience and their passion for developing the financial professionals of tomorrow," Roberts said. "They recognize that having a successful career in financial services requires more than expertise. It requires the empathy people need to help them plan for the future."
Northwestern Mutual also has an award-winning college representative program. As interns, college students can help others build financial security while also building professional skills. Many of the company's most successful local leaders – including managing partners and managing directors – started out as financial representative interns years ago.
All prospective candidates, including career-changers, who are highly motivated and driven to have a positive impact on clients are encouraged to apply. More information can be found at: https://www.northwesternmutual.com/financial-representative-careers/
About Northwestern Mutual
Northwestern Mutual has been helping people and businesses achieve financial security for more than 165 years. Through a comprehensive planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what's most important. With nearly $700 billion of total assetsiii being managed across the company's institutional portfolio as well as retail investment client portfolios, more than $38 billion in revenues, and $2.4 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than five million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. Northwestern Mutual ranked 110 on the 2024 FORTUNE 500 and was recognized by FORTUNE® as one of the "World's Most Admired" life insurance companies in 2025.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance). Not all Northwestern Mutual representatives are advisors. Only those representatives with "Advisor" in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services.
1 The dividend scale and the underlying dividend interest rates are reviewed annually and are subject to change. Future dividends are not guaranteed, although Northwestern Mutual has paid a dividend every year since 1872.
2 Ratings are for The Northwestern Mutual Life Insurance Company and Northwestern Long Term Care Insurance Company as of the most recent review and report by each rating agency. Ratings are as of 8/24 (Moody's Ratings), 10/24 (A.M. Best Company), 1/25 (Fitch Ratings) and 4/24 (S&P Global Ratings). Ratings are subject to change.
3 Includes investments and separate account assets of Northwestern Mutual as well as retail investment client assets held or managed by Northwestern Mutual.
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SOURCE Northwestern Mutual
