Northwestern Mutual Wealth Management Reviews (2025)

Review:  Northwestern Mutual is a legitimate life insurance company.

However, they’re not a good choice for investing.

Their Life Insurance agents are called financial advisors, but they focus on getting you to purchase as much life insurance as possible before any actual investing begins.

Instead, opt for term life insurance.

Once you understand the costs of Whole Life, cancel the policy, switch to Term life, and invest the remaining funds in a low-expense S&P 500 mutual fund.

In 30 years, you’ll have more money than if you had stayed with Whole Life Insurance.

Review:  Before seeking advice from a financial advisor, make sure to research their reputation. My experience might differ from yours, and that could change. I will provide an update if my family and I have a different perspective.

Review:  They aren’t true “financial advisors” as they claim; they’re merely sellers of insurance products.

They do have their purpose, no doubt, but the constant turnover of salespeople is concerning. The ones who remain tend to be either unscrupulous or overly aggressive, likely to pester you persistently.

Anyone who calls themselves a “financial advisor” should be asked about their licenses. They probably only hold licenses to sell life and health insurance, and won’t assess your finances from a comprehensive perspective.

“Scam” isn’t the right term, as term insurance is suitable for many households and permanent/whole life insurance fits some (though significantly fewer). However, proceed with caution.

Review:  Northwestern mutual (specifically *******, *******, and associates) came to me under the guise of caring financial advisors. After having multiple meetings asking about my financial goals and pretending to really care about what I needed, they tried to sell me on a horrific financial decision where I would be putting 20k a year in a life insurance policy. Im 30 and this makes no sense for the variable salary I was making and would have been a HORRIBLE decision for my needs, but they didnt care about deceiving me. When it came time to sign for the insurance policy, they sent me TWO life insurance accounts to sign for, when we only ever talked about one. They tried to scam me, hoping that I wouldnt notice, preying on a young, vulnerable woman who is still learning about investing. Thankfully I did notice, and when I was in tears on the phone with them, telling them I had a bad feeling, they just claimed we had always talked about two accounts. When I told them they were gaslighting me because I had it in writing, I NEVER heard from them again. What a horrible evil scammy company

Review:  Started with NW in 1987 for life insurance. Over time added add'l life policies, disability and LTC. Also started with investments - originally with loaded funds, now on a percent under management basis. Have an acceptable percent basis, but wonder/worry at times about management fees for funds in my portfolio. Have considered going elsewhere, but they have gotten my wife and I to retirement well before 65 - they/we are doing something right. When I call/e-mail, they respond quickly - is that an almost 40 yr relationship, the amount we have with the firm with the level of fees/premiums, or general professionalism? Who knows, but it is working.

Review:  Good app but under investments there should be other options such as 3 or 6 months. Currently only offers a 1m/1y. Update would be appreciated.

Review:  The NM app is buggy and should be an embarrassment to a company that prides itself for its long history as a mutual insurance company of serving its owner customers. The app fails to report timely results as it always at least a day behind, has a hard time displaying trends without reporting something went wrong error messages, and is so feature limited compared to other financial apps. NWM needs to up its game and bring in a top notch team to completely rewrite and test an app worthy of the company.

Review:  I had one terrific financial rep. and the agency he worked under with Northwestern Mutual, but he left the company. I picked a different representative. and different agency of the company out of Appleton, WI. Downhill after that in many ways!!

Review:  I have over $2 million with this company and this app is worthless. App does not let you track your account mutual fund investments specifically. Doesn’t compare returns to market indices. It is so easy in 2019 to provide real-time quotes for the municipal funds I am invested and compare them to market indices, chart performance etc. Compared to financial investment software from companies like Fidelity Vanguard Schwab etc. it is a complete joke. Over the last two years I have invested over $1m outside of this company only because I can’t stand the lack of feedback and ability to see what my investments are doing. Hey NWM, take a look at other investment companies apps to give you some idea how to do business with your customers!

Review:  Connected my accounts, good to see everything in one place. I like the ability to connect properties (maybe on website only) along with accounts for a complete picture. Clean interface, not too many tools but good for simplicity. I hope I don’t have any trouble with accounts getting disconnected as I’ve read. So far so good. I’m impressed how much better the website and app have got over the past couple years.

Review:  I have been tracking my money using both this app AND the Northwestern website for years. I make screen dumps of the total money from both apps every day for my records. The data shown from this app is ALWAYS WRONG. This is bad. If people only look at their data using this app, then they will never have the exact data they need to make decisions. Just login to the website and look at your money total, then compare to that from this app, you will see they never exactly match (depending on how much money you have, it can be thousands of dollars wrong)! I have contacted Northwestern about this numerous times, including sending them the screen dumps showing the differences. They never even attempt to fix it.

Review:  Attempted to surrender a whole life policy and was told the form would be sent by email by the following day. When I did not receive it, I called the day after that and was given the excuse the it had been a hectic day because of the volatility of the stock market. And??....shouldn't they still be doing their job regardless? Filled out that form and another form concerning dividend reinvestment that clearly in bold print stated that I must submit SS# and w-9 form. Did so and sent directly to office by mail. Agent's underling says she didn't see it. Did she even look? Said I didn't need to put SS# on form even though it clearly and boldly said so where SHE checked the box! IMHO the adjective incompetent would be a compliment. Now she CAN'T?? get into the office because of Coronavirus so I don't know if my SS# is there or floating around somewhere. Ended up signing up for LifeLock to protect myself. I COULD NEVER EVER RECOMMEND THIS COMPANY after all of this. My agent seems to be absent when I need something, but I am sure she would be on my doorstep if I showed interest in one of their lackluster wares.

Review:  I have had a fantastic experience with the Minnetonka MN office in the Carlson Towers. They are financially savvy and understand that life insurance is just a hedge to your total financial plan. I would recommend them to anyone in my family!

Review:  Awesome staff!

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