Our college financial representative program is a unique opportunity to build your own financial planning business from the ground up. In fact, it’s one of the largest internship programs in the industry. This sales-based opportunity provides ample opportunity to learn, grow, and develop both personally and professionally for those who put the effort in. Let’s explore the top questions you may be curious about when considering this opportunity.
What is the college financial representative (CFR) program?
The college financial representative (CFR) internship is a program designed to jump start your career as a financial advisor. It provides students with guidance, mentorship, and a framework to build an integrated financial planning practice focusing on insurance and wealth management solutions, client building, and market development.
What’s unique about this opportunity is you aren’t making copies or working in Excel spreadsheets. Instead, you’re acting as a financial professional networking with your markets, having better conversations with clients to uncover opportunities to grow and protect their finances, and receiving mentorship from experienced financial advisors to understand how to create a tailored financial plan designed to address your client’s unique needs.
This is a great opportunity for individuals who want to learn more about financial planning and enjoy connecting with others through genuine conversations, ultimately helping them achieve better financial and emotional outcomes.
What does a day-in-the-life look like?
A day-in-the-life of the CFR internship looks different for everyone and can even vary day-by-day. The role is heavily focused on business-building and development outcomes—our CFR Program includes engaging, hands-on experience through blended learning, and a focus on “on-the-job" application. You’ll learn how to build a solid foundation for your business and transition that knowledge into sales activity and productivity as you refine your skills in a productive learning environment.
Another important aspect of the CFR role is meeting with clients—whether that’s reaching out to potential new clients to have a better conversation or partnering with advisors to develop a personalized financial plan for existing clients. What’s unique about our CFR internship is that you aren’t just learning about financial planning, insurance, and investments—you’re acting as a financial professional and receiving guidance from our seasoned financial advisors to help your clients protect what matters most with the right insurance policies and reach their future goals by growing their wealth.
Most importantly, this role provides the flexibility you need to keep up with your schoolwork and personal priorities. Take a look at Sara’s experience as a CFR to learn more.
Is this a paid internship?
You have the opportunity to earn up to $3,000 throughout the duration of the program by completing weekly business-driven activities, plus the opportunity to earn commissions based on the sales you make. In addition to compensation, you also have a chance to qualify for various recognition opportunities, where you can attend events with other top interns, get recognized for your achievements, attend learning sessions to expand your knowledge, and get to experience what it means to be a Northwestern Mutual financial advisor.
Do I just sell to friends and family?
With this program, you aren’t just calling your friends and family. We help you focus on building your business through your natural market—i.e., who you already know—and through favorable introductions within your network. This method not only helps you build a sustainable business but also allows you to provide financial solutions rooted in care and responsibility—especially for those that you want to ensure are protected from life’s hardships, like friends and family. With dedication, you can create a thriving practice that reaches far beyond your initial connections, making a meaningful impact in your community by helping others invest wisely and stay-on-track.
What does development look like?
Our CFR Development Program is a robust, strategically curated 12-week learning experience designed to help individuals expand their knowledge and gain new skills. The program focuses on four key areas:
Our development-focused program is meant to help you learn, grow, and develop. You’ll pick up skills you can use throughout your career, whether you stay in the financial services industry or not. In fact, 94% of CFR interns said their internship experience helped them grow personally and professionally*.
Why do individuals choose this program?
Our CFR program is a unique opportunity to learn about the financial planning industry and experience what it’s like to build your own business. We recognize this opportunity isn’t for everyone, but we often hear the value it brings to individuals who go through the program. Let’s hear one perspective from a recent intern:
“I believe that this internship is going to play a crucial role in helping me grow as a professional. Accepting this internship has been one of the best decisions I have ever made. Whether I stay with this company or not, I will be using the skills and relationships that I have made here for the rest of my life.”
Today, 36% of our current field leaders started in our CFR internship program and now run their own offices throughout the country. It’s a great foundation to start and grow a career at Northwestern Mutual.
We’re also nationally recognized—we’ve been named a 2025 WayUp Top Internship Program and a 2025 Forbes ‘Best Employer for New Grads’ for our dedication to delivering a great experience for our interns.
Still have questions? Not sure if this is the right opportunity for you? No problem – connect with our recruiter to have a pressure-free conversation and find out if this could be a good fit for you.
*Statistics based on internship survey conducted by Northwestern Mutual July 2024. Sample size: n=895
