Becoming a financial advisor is a great opportunity for individuals who want to make an impact in the lives of others. At Northwestern Mutual, we maintain an exceptional level of standards to support our clients in achieving their financial goals. Our financial advisors are uniquely trained to discover opportunities and overlooked areas that others often miss, helping clients save and plan with confidence as life changes. They are dedicated experts, expected to craft a tailored plan to meet every client’s unique needs.
In an evolving financial landscape with an aging advisor population, the demand for trusted financial guidance is greater than ever as there’s an anticipated shortage of roughly 100,000 financial advisors by 2034 (Source: McKinsey Study). This is one reason why our recruiting process prioritizes intentional selection to find highly motivated individuals who will adhere to and uphold our high standards in effort to deliver better financial and emotional outcomes for our clients.
We follow a rigorous recruiting process where we evaluate top-tier talent based on a variety of skills and experiences. Our four-step interview process is designed to educate candidates on what a financial advisor does and to understand if they’re the right candidate for this career. With more than 350 local Northwestern Mutual offices across the country, the experience may vary slightly as every office is empowered to reflect its own unique culture and provide every candidate with the best possible experience.
1. Get to Know Northwestern Mutual & What a Financial Advisor Does
In the first conversation, the local recruiter will learn more about you, your career experience, and your goals to determine if it makes sense to move forward with the selection process. The recruiter will also share more about Northwestern Mutual, our company history, our unique approach to financial planning, and what a financial advisor does. You may be asked to complete assessments that support the recruiter in learning more about you as an individual and if this career is right for you at this time.
2. Learn About Our Unique Approach to Financial Planning
If you’re selected to move on to a second conversation, you will hear more about our client-building process and our sales approach. You will also learn what it means to have access to our exclusive distribution system of insurance and wealth and investment products and services to help deliver better financial outcomes for our clients through a holistic plan.
During this discussion, you will meet with office leader who is responsible for coaching, training, and developing new financial advisors. You may have the opportunity to identify the markets you will serve and have conversations with individuals in those markets to help you evaluate the viability of the opportunity to grow and protect what matters most for these potential future clients.
3. Understand Our Compensation & Total Rewards
During this discussion, you will have the opportunity to discuss the results of any prior assessments you have completed. The leader will have a series of questions to help get a holistic view of your background and experience.
You will also learn about the compensation structure. The financial advisor career is a sales-based entrepreneurial opportunity that earns income through a variety of avenues, including commissions, allowances, and bonuses based on client acquisition and business activities.
You will get a glimpse at average and top quartile income based on actual advisor performance, and our robust benefits offering, including medical, dental, vision, family planning, and long-term incentive/retirement programs. There are also opportunities for recognition based on performance.
4. Final Interview
By a fourth conversation, you will have a good idea of whether this career opportunity is right for you at this time. If office leaders determine this career is a good fit, you will receive an offer to continue into the onboarding process. The onboarding process includes a background check, licensing requirements, and training before you are able to contract with Northwestern Mutual. You will start as a financial representative while achieving required designations and work toward becoming a financial advisor.
Learn more about becoming a financial advisor including tips for success when considering this career. Ready to start the conversation? Connect with a recruiter today.
