Northwestern Mutual Investment Services

Northwestern Mutual Investment Services

A subsidiary of The Northwestern Mutual Life Insurance Co.


720 E. Wisconsin Ave.

Milwaukee, WI 53202

(866) 664-7737

Clearing firm: Pershing LLC

No. advisers: 7,794

No. franchises: 76

AUM: $189,705,305,218

Year founded: 1968

Year end: Dec. 31

No. of retail offices: 363

For More Information

CEOSarah R. Schneider
Top ExecutiveJeb Bentley
Recruiting ContactKathy Tague
(414) 665-5559
Compliance ContactRebecca Villegas
(414) 665-8536
Marketing ContactTiffany Scheible
(414) 665-8807

Recruitment & Staffing

2020 2019 2018
No. of reps8,6397,7947,766
No. of reps, male7,3796,7976,803
No. of reps, female1,260997963
No. of producing reps5,2585,1125,069
No. of producing reps, male4,7334,6294,587
No. of producing reps, female525483482
No. of reps producing $100K-$499K /year1,5471,5041,451
No. of reps producing $500K+ /year619535489
No. of CFPs1,3221,2791,199
No. of full-time employees000
No. of fee-based advisers served000
Average payout per rep, per year$207,040$188,380$171,648
Avg. annual production of top 20% reps$814,999$738,081$692,891
Total payout, per year$1,088,619,000$962,999,000$870,083,277
Cost of E&O insurance per rep, per year
Affiliation fees charged per rep, per year
Affiliation fee coverage
2020 2019 2018
Total revenues$1,517,364,000$1,351,248,000$1,219,479,000
Commission revenues$372,572,000$341,082,000$326,722,000
Securities revenues000
Securities revenues: Stocks
Securities revenues: Bonds
Securities revenues: ETFs
Securities revenues: Other
Mutual fund revenues
Annuities revenues000
Annuities revenues: Fixed
Annuities revenues: Variable
Annuities revenues: Other
Insurance revenue000
Insurance revenues: Life
Insurance revenues: Disabilities
Insurance revenues: LTC
Insurance revenues: Other
Alternative revenues000
Alternative revenues: Hedge funds
Alternative revenues: Managed futures
Alternative revenues: Private placements
Alternative revenues: REITs
Alternative revenues: Other
Other commission revenues00
Fee revenues$1,022,145,000$892,371,000$786,939,000
Fee revenues: Rep-managed accounts
Fee revenues: Firm-managed accounts
Fee revenues: Outside-managed accounts
Fee revenues: Other
Total revenues: Other$122,647,000$117,795,000$105,818,000
2020 2019 2018
Total account assets$226,961,962,956$189,705,305,218$152,650,150,000
Fee-based assets$124,214,223,675$98,993,959,893$75,221,410,000
Fee-based assets: Clearing firm
Fee-based assets: Advisory firm platforms
Fee-based assets: Third-party money managers
Fee-based assets: Other
Total account assets: Other$102,747,739,281$90,711,355,325$77,428,750,000
Average assets per rep$26,271,786$24,339,916$19,656,213
Social Media & Mobile
Allows advisers to use social mediaY
Social media sites allowedFacebook
Dedicated mobile application for advisers?Y
Primary purpose of mobile applicationCRM
Software Offered
Account aggregation software Albridge Wealth Reporting (Albridge, an affiliate of Pershing)
Compliance software Built in house/Proprietary
CRM Microsoft Dynamics CRM (Microsoft Corp., includes Tamarac's Advisor CRM and Salentica's CRM)
Document management Albridge Document Management (an affiliate of Pershing)
Built in house/Proprietary
Financial planning Morningstar Advisor Workstation (Morningstar Inc.)
NaviPro Planning Suite (Advicent, formerly Zywave)
Built in-house/Proprietary
Portfolio management Albridge Wealth Reporting (Albridge, and affiliate of Pershing)
Envestnet (Envestnet)
Built in house/Proprietary
Portfolio rebalancing Advisor Rebalancing (Envestnet/Tamarac)
Built in house/Proprietary
Offers robo-advisory platform?N
If not, when plans to offer a robo-platformWe do not plan on offering robo-advisory services
Robo-advice services offered
How robo-platform developed
Charge for robo-advisory services?
  • N/A = Not available
  • N/D = Not disclosed
  • — = Information not available or not disclosed

All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.

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