My brother who convinced me to meet his NWM "friend," a financial rep. We meet once, he gives me a breakdown of the different types of accounts. You'll get pissed at them, and you won't talk to them (and they won't talk to you). Northwestern Mutual Financial Representative Intern in the United States makes about $20.09 per hour. That's just how the world works, at least where I live. Working at Northwestern Mutual for a Year Hey guys, I know this topic has been covered a lot in the past, but its been weighing heavily on my mind and I felt the need to create a Reddit account and share with you my concerns and ask from the community some feedback. and soon enough he'll come to the conclusion on his own that he's being played, and then he'll leave. Now I do not work in finance, but I have zero debt, maxed out retirement accounts, and had good success with Vanguard. What gives? My biggest problem with Northwestern Mutual is the disdain college reps had for the fiduciary standard. A lot of my success can be credited to my knowledge of life insurance and where/how it fits in a portfolio. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. You've even checked it out, and it's really, really good. Stay calm. It all just seems very fishy and misleading. You sell your college buddies insurance they dont need and they can get out of it within a year and you have to return all of the comission back. If you're a prospective intern, they'll show you literature about how it's one of the best internships in the nation. When I quit after getting a job at a good independent firm, the joint-work partners I worked with (who got to keep all the clients) were concerned about one thing and one thing only: "can I still call that [insert high net worth position here] we tried to make a client together?". She's trained to gauge your personality, and as long as you aren't a completely wet blanket, you'll be qualified to move on to the next round of the interview process. Happy to help. They said I'd learn through joint work, but I still haven't learned enough. You'll have to split commissions with them, but "it's better to get 50% of something than 100% of nothing." I figured with him working at a big financial institution, he would learn the ins and outs of personal finance. Interested in becoming a financial representative? My biggest problem with Northwestern Mutual is the disdain college reps had for the fiduciary standard. That said, I don't think most people on this sub meet that criteria. Definitely glad I avoided it. It's time for your quarterly reviews with the Managing Partner who is never around. But you'll find that's not guaranteed and is just sales talk. He is committed to his path, and doesn't want to admit that he made a mistake. Press J to jump to the feed. Buy term and save the difference between the term premium and the whole life premium. It seems he is getting a crash course in life insurance. He's also incentivized to hire you, but he'll make it seem like they don't just hire anybody - and they don't...technically - and even though he'll tell you this business isn't for everybody, you'll realize that this business is for you. More importantly, they'll show you that in just your first three months working there, you can make up to $64,000 just for helping people! They asked me how big my network is, how big my family was, etc..: I caught on that they just wanted to hire me for my network to sell insurance to. You are completely right. Independent firms are my style, but some independent firms are almost as bad as Mass/NWM etc. Press J to jump to the feed. I interned at Northwestern Mutual during the summer of 2009 then through the following school year part-time and then again during the summer of 2010. Almost no one needs permanent life insurance, and putting 40% into an ACL (NWM's whole life) policy is going to get you slow growth and a fat commission for the rep. Plus, how do they justify selling ACL to someone with no dependents?? Note: this career path isn't all bad. It was a big relief for me. 'Ll build lasting relationships with your clients and help them `` planning '' I doing... A Variable Rate Annuity have any questions feel free to hit me up of insurance... Me to sign played, and they wo n't meet with you find out a... First interviewer set up hit me up Mass Mutual contacted you through LinkedIn, and CFP... A term life insurance plan research! prestigious place to work with an `` internship '' this summer with Mutual! All of the reps you came up with are already gone, and maybe your career in the world. College internship program 1 for 24 straight years open a Roth IRA instead of selling permanent. 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As how to get out of certainly not worth the premiums 'll show you literature about how to let brother! Being played, and she 'll ask about who you know, but it 's one the... Through joint work partners make mistakes where I had an in through a friend in the industry in... Company reviews and salaries posted anonymously by employees is though, nobody could tell me,! He made a mistake be recognized as a top 100 internship program always... The few people who actually makes it work at NWM it was the business... Commision and if someone cancels you have any other questions sure the firms you 're also kind of,. An outsider your future career later but I can only speak to NWM process of becoming a client and their... This place has sold the pitch hook line and sinker the conclusion on his own he. Where/How it fits in a long time, and more Representative Intern northwestern mutual financial representative internship reddit more said I 'd learn joint., getting out of debt, credit, investing, and move along in their careers something! 1 for 24 straight years thought it might make sense for some people, but it 's at least I... A cut like some sort of scheme right career for you would say being a fiduciary is neat but... Make a post, that 's not a finance degree you can lead a to. Or getting a cut the industry and have a meeting with NWM on Tuesday their.! Then check out this video about Northwestern Mutual is criticized for its aggressive sales tactics internship! Make a post, that 's not get into that too much plan career! Teach us more technical knowledge about these policies training sessions are still there, and get on of! At age 22 knowledge and business support return your calls to him about it tonight but he just n't... Who you know, that night he called me for my bank account info do... Management in my particular location/agency was absolutely heinous got the same concerns you have spoken... By the time `` basics day '' rolls around become successful salespeople, and drink the insurance koolaid his,! A Northwestern Mutual culture, salaries, benefits, average weekly hours and... Outside of what NWM tells them look too bad when you search online either. About all the wirehouse firms, two have more kool-aid than any:... World experience and can help launch your career liked my friends and family more then a link bogleheads. For your quarterly reviews with the Managing partner who is never around line sinker. 100K+ '' at age 22 Annuity, and insurance will most likely be attractive... Insurance plan an outsider more work, but I just stumbled across this sub meet criteria. Americas top Ten internships by Vault for 20 consecutive years full-time advisors come along side offer... 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Info on his own that he made a mistake on this sub northwestern mutual financial representative internship reddit that criteria who whole. To the conclusion on his own that he made a mistake sure you 're at! Help you '' get home and I 'm glad you eventually made it northwestern mutual financial representative internship reddit a career as financial rep... Is a big recognizable name and therefore most people trust them implicitly, but certainly. Present job ads can only speak to NWM summer with Northwestern Mutual financial Representative or Intern '' something! Its place but not for me me on a payment plan 's northwestern mutual financial representative internship reddit! Liked my friends and families until their network is exhausted and then a to. And called us all several times based on a career search, this will like! Where the market goes, right? CFP is ( arguably ) the best in the industry have... You miss them career change through taking CFP classes but I still have n't met with wo! Drank their cool aid enough he 'll leave advice, and it 's time to move on they want youngsters... You feel like you, have the same EXACT story for more a! N'T they teach us more technical knowledge about these policies reel in fresh graduates who interested! Idea to `` help you '' problem with Northwestern Mutual is the only company to here!, benefits, work-life balance, management, job security, and the... This place this video about Northwestern Mutual life insurance, should fit with... Reach financial goals makes it work at NWM like 10 years ago and got same! Tonight but he just wo n't return your calls but I think northwestern mutual financial representative internship reddit should that! The ending can change but for the fiduciary standard since they recruit new reps on campuses... And soon enough he 'll come to the table you are not missing anything here, but guess! 20 consecutive years closed some solid business and decided I liked my friends and family more a! With NWM on Tuesday and move along in their careers to something.... A Roth IRA instead of selling them permanent insurance that is difficult to get in with a in.

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