Should I invest with Northwest Mutual?

Short answer (in my humble opinion): No. Too expensive and not a fiduciary!

You should only work with someone who is a fee-only, true fiduciary for you 100 percent of the time. Insurance Reps are not fiduciaries. They get commissions on insurance products like life insurance and annuities, which can lead them to put their interests ahead of yours! (please note, this information was developed from SEC ADV frim brochure information filed in 2023 for NW Mutual)

Furthermore, their portfolio fees are expensive. Working with a different firm might save you $6 to $20k per year. I can’t stress enough how important it is to take the time to do the math. Figure out what you are paying in dollars, not percents. Make sure to include advisor fees, fund fees, commissions, other hidden fees. You may be shocked a the total annual figure. 

Your current Advisor is hoping you don’t run this analysis!

We work with Clients on a national basis. Take action & schedule a free 2nd opinion below!  We will show you the data!

Here are some key takeaways:  Should I invest with Norwestern Mutual?

– Northwest Mutual is a local marketing machine (they market to neighbors, local contacts, people at church). They have over 6,700 sales reps.    Northwestern Mutual is expensive for their scope of services.  Save money and find a better solution like an independent RIA who is fiduciary for you and your family?

• We strongly suggest that you hire a fee-only, fiduciary advisor to help with your financial life…. then, get the insurance you may need.  Northwestern Mutual is a “sales driven, insurance first culture”.  Many of their recommendations are you need more insurance products like whole life, variable life, annuities.  These products are expensive & sold, not bought by consumers.
• Northwestern Mutual is expensive. You don’t need to pay 30% to 50% more for an advisor.  High fees will impact your retirement.  Fees matter!  We will show you the numbers.
• What is your scope of work?  Portfolio management?  Financial planning?  Tax strategy? Insurance?  What are you actually paying for?
• Northwestern Mutual has a lot of sales reps/ brokers/ advisors and real estate.  This is one of the reasons that fees are so high for clients.
• NW mutual reps are insurance sales reps.  They are not a fiduciary for clients when selling insurance.  Northwestern Mutual may also use expensive mutual funds like American Funds and other companies that have 12b-1 fees, A-shares or C-shares.  These fees are a commission for using the mutual fund.
• Northwestern Mutual has expensive funds and revenue sharing — They sometimes sell expensive products that “sound too good to be true” but when you read the fine print, they are expensive & not realistic.  There are other low cost insurance options.
• Northwestern Mutual – See these Consumer Affairs Reviews 

About Integrity Investment Advisors

When I started my firm in 2010, we started with the vision of competitive fees for the scope of work.  We work with clients to educate them about investing best practices and help them align their money with their values. We help clients reduce the middlemen in the investing process so our clients keep more of their money.  We help clients to make work optional.

We are a low-cost, fee-only Advisor.  We are a fiduciary for you 100% of the time.  Our fees are 0.6% on the first $1 million and they decline above $1 million to 0.30%. If you have over $750k in a portfolio (including 401k), schedule a meeting below. 

Summary of Key Differences

 Here are great questions to ask yourself if you’re debating working with a Northwestern Mutual agent

• Should I invest with NW Mutual?  How much are my total fees?  Should I buy whole life insurance? Should I buy variable life insurance? Should I buy indexed annuities?  How much insurance do I need? Why is NW Mutual so expensive? Why are my surrender fees so expensive? Is it smart to invest with Northwestern Mutual?
• Is Northwestern Mutual a fiduciary? Is it smart to invest with an insurance company and insurance Rep?
• Northwestern Mutual vs. Vanguard?  What are my costs with Northwestern Mutual?
• Are Northwestern Mutual financial advisors fiduciaries?
• Is Northwestern Mutual a good company to invest with?
• Should I invest with Northwestern Mutual?
• Check out our Why DFA vs. Vanguard page for a better solution.

Now is a great time to get a free 2nd opinion via Zoom meeting (see calendar below)! We will give you objective feedback, identify red flags and give your confidence about your future path. It is important to find out if you have areas that can be improved. We help clients make work optional & live the best life possible.

Ready to see if we’re a good fit?  Schedule a free meeting below. 

We will show you your total fees & red flags. 

We strongly recommend that if you hire an advisor, that person should be a fee-only advisor (not fee-based) and be a fiduciary for you 100% of the time.