Although some insurance company executives say they are now using analytics, others say they’re still on the fence about it or only beginning to explore its possibilities.
MILWAUKEE, Jan. 15, 2014 /PRNewswire/ --Northwestern Mutual today announced the most ambitious recruiting effort in the company's 156-year history as it aims to recruit more than 2,700 financial representatives and 3,700 financial representative interns in 2014.
According to Steve Mannebach, Northwestern Mutual's vice president of field growth and development, the company's aggressive 2014 goal of 6,400 total recruits is a direct result of the increased need Northwestern Mutual is seeing for comprehensive financial planning in the United States. The 2013 Planning and Progress Study found that 63% of Americans believe their overall financial planning needs improvement and half have no plan in place.
"There's a high-demand for trained financial professionals, and our forecasts show that demand will continue to climb in the foreseeable future," said Mannebach. "With the market uncertainty and confusing options, people are seeking guidance and clarity in their long-term planning."
Northwestern Mutual recruited more than 5,500 financial representatives in 2013 – marking the third consecutive year the company surpassed record highs for recruiting. The company's 2014 goal stands out in today's challenging economy where job growth has declined and the national unemployment rate is 6.7%, according to the recently released jobs numbers for December.
Mannebach attributes the growth of Northwestern Mutual's network of financial representatives in part to the company's financial strengthratingsand its industry-leading dividends, which the company recently announced would total a record of more than $5 billion in 2014.*
Northwestern Mutual expects that more than half of its new financial representatives in 2014 will be "career changers" – professionals who believe they have reached the ceiling in their current occupation and are looking for more opportunities to grow.
"For those with the right background who are looking to start a new career and want to get into financial planning, now is an opportune time to join an organization that is experiencing significant growth and tremendous success in the industry," said Mannebach.
Each financial representative immediately receives training, mentoring and joint work programs for hands-on experience. Financial representatives also have access to ongoing education resources on the latest industry information and advanced professional designations.
Career seekers can contact a nearby Northwestern Mutual office to learn more about a financial representative career by visiting: http://www.northwesternmutual.com/find-an-office.aspx.
Military Veterans Ideal Fit
Northwestern Mutual has also found that many military veterans looking for a career after completing their military service have found a compelling and desirable option as a financial representative.
"Military veterans' strong leadership qualities, discipline, motivation and desire to help others are highly transferrable skills to careers as financial representatives," said Mannebach.
Northwestern Mutual's newly launched military recruitment website highlights opportunities for interested veterans, including training and development programs, rewards and benefits, as well as testimonials from veterans who made the transition.
Top-Ranked Internship Program
Northwestern Mutual's financial representative internship program for students exploring a career in financial services has been recognized for the past 18 years as one of the top ten programs nationwide by the Vault.com. Many of the company's most successful financial representatives and nearly half of its senior field management are former interns.
Interested applicants can visit Northwestern Mutual's website or contact a nearby Northwestern Mutual office to learn more about available internship opportunities.
Company Receives Numerous Honors
Capping off a milestone year, Northwestern Mutual also received the following recognitions:
Learn more about Northwestern Mutual Careers by viewing the following videos on YouTube:
About Northwestern Mutual
Northwestern Mutual is among the "World's Most Admired" life insurance companies in 2013 according to FORTUNE® magazine and has helped clients achieve financial security for more than 156 years. As a mutual company with $1.4 trillion of life insurance protection in force, Northwestern Mutual has no shareholders. The company focuses solely and directly on its clients and seeks to deliver consistent and dependable value to them over time.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a holistic approach to financial security solutions including: life insurance, long-term care insurance, disability insurance, annuities, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; Northwestern Long Term Care Insurance Company; and Russell Investments.
*The policy dividend is reviewed annually by the company's Board of Trustees. Dividends are not guaranteed beyond 2014 and are subject to change.
SOURCE Northwestern Mutual