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MILWAUKEE, April 18, 2024 /PRNewswire/ -- Northwestern Mutual's wealth management business continues to be recognized as one of the country's premier independent broker-dealers, being awarded another industry honor this month. Financial Advisor magazine, a leading publication covering the financial services industry, ranked Northwestern Mutual sixth overall in their annual list of the top IBDs based on gross revenue. The company has maintained a top-10 position in this ranking for more than a decade.
"We're proud to see Northwestern Mutual being recognized once again as a trusted and highly respected industry leader in wealth management," said Aditi Javeri Gokhale, Northwestern Mutual's chief strategy officer, president of retail investments and head of institutional investments. "From expert advice to investments to world-class insurance products, more Americans are turning to Northwestern Mutual to build financial security. Our advisors offer clients a sophisticated suite of investment solutions as part of a comprehensive financial plan to create long-term prosperity."
Northwestern Mutual is a leading provider of wealth management and investment solutions and continues to see strong demand for its advisory offerings. At the close of 2023, the company held more than $281 billion in client investment assets, up nearly 25% over the year prior. The company's financial advisors continue to garner acclaim as well, with nearly 200 being recognized on the Forbes Best-in-State and Top Wealth Advisors lists for 2024.
Northwestern Mutual also remains the largest provider of individual life insurance, with total sales over the past three years eclipsing any other three-year period in its history. The company's distinct and comprehensive approach to planning – combining insurance, investments and annuities – is proven to deliver better financial outcomes to clients more often.
About Northwestern Mutual
Northwestern Mutual has been helping people and businesses achieve financial security for more than 165 years. Through a comprehensive planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what's most important. With over $627 billion of total assets being managed across the company's institutional portfolio as well as retail investment client portfolios, more than $36 billion in revenues, and $2.3 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than five million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. Northwestern Mutual ranked 111 on the 2023 FORTUNE 500 and was recognized by FORTUNE® as one of the "World's Most Admired" life insurance companies in 2024.
These teams use their marketing names for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance). Not all Northwestern Mutual representatives are advisors. Only those representatives with "Advisor" in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services. Barron's "Top 1,200 Financial Advisors" list (March 2024), based upon data as of 9/30/2023. Northwestern Mutual and its advisors do not pay for placement on third party rating or ranking lists, but instead pay marketing fees to these organizations to promote the rankings and rating(s). Rankings and ratings are no guarantee of future investment success.
SOURCE Northwestern Mutual