Is Northwestern Mutual commission only?
Working at Northwestern Mutual is rewarding but tough. They offer competitive compensation that is commission only. However, the management and leadership is lackluster at best. The other life insurance salesmen are great to be around, however growth is hard to find at Northwestern Mutual.
What percent commission does a financial advisor make?
Fee-based (receives most of their income from fees, but may also receive commissions) Fee-based advisors charge either an annual percentage of your assets under management (which ranges from 0.5% to 3%), or an hourly rate.
How much do financial advisors make off clients?
On average, you can expect to pay between 1% and 2% for an advisor who charges asset-based fees. An advisor who charges by the hour, on the other hand, might fall into the $100 to $500 range. For advisors who charge a flat fee, the cost may range from $1,000 to $10,000.
How much do managers at Northwestern Mutual make?
The average salary for a Manager is $80,343 per year in United States, which is 2% lower than the average Northwestern Mutual salary of $82,736 per year for this job.
Is there a salary cap at Northwestern Mutual?
Northwestern Mutual promises no salary cap, appealing commissions, flexible hours and great products but they just make you push whole life insurance and disability insurance the whole time. The sales training you get is how to call people and read off of the scripts they give you so you can do “joint-work” with a veteran rep and split commission.
Where is the headquarters of Northwestern Mutual Wealth Management?
Northwestern Mutual Wealth Management is a subsidiary of Northwestern Mutual, a Fortune 500 life insurer and financial services company. While Northwestern Mutual has its headquarters in Milwaukee, it is a national organization with branches across the country.
What happens if you leave Northwestern Mutual financial advisor?
They do a good job of training you to a certain point, but they only want you learning a certain amount of information so that you still have to bring in a senior advisor into a case just to split commission with. You also are fully captive, if you leave northwestern mutual you lose all renewals and revenues. Was this review helpful?
Are there any conflicts of interest with Northwestern Mutual?
Potential conflicts of interest due to other services: Northwestern Mutual originally started as a life insurance company, and that’s still one of its main services. Additionally, the firm also acts as a broker-dealer.