Fee-Based Financial Planning
Ensure your goals and unique financial needs are prioritized and planned with the expertise of a credentialed fee-based financial planner.
Fee-Based Financial Planning
When you want a financial plan developed with your goals and interests put above all else, it’s a good time to engage a fee-based financial planner.
Fee-based financial planners design unique personal financial plans and are compensated for their time and expertise. Under this fee structure, the planner is a fiduciary and has a legal and moral responsibility to place your interests first.
Of course, your planner’s role goes beyond just providing expert guidance in the creation of your financial plan. A fee-based planner can also help you with the implementation of your plan through a combination of appropriate and innovative insurance, brokerage, advisory and/or private client platform solutions.
In the end, your planner is paid to work with you to make sure your financial needs are met with care, with expertise and with an understanding of your unique circumstances and individual goals. Together, you will agree on the appropriate fee structure based upon those needs and the specific services required.
Making great decisions about your wealth, whether you are deciding to grow it, protect it or both, starts with sound thinking – thinking that makes sense. Here’s how our thinking starts when it comes to helping you make important financial decisions.
The Planning Process
With financial independence, family legacy and social capital solutions in place, wealth optimization becomes the focus of the planning process. Your planner will use a unique and disciplined values-based approach to help you make wise choices and to help ensure that your plan is focusing on what you value.
The planning process consists of four quadrants or phases, each one representing one planning cycle: Discovery, Creative Solutions, Strategy Deployment, and Results Management.
- Discovery: Identify and think about the problem. The first phase begins by thinking clearly about the problem. This is called the Discovery phase, and this is where clarity on your goals is achieved and planning gaps are identified.
- Creative Solutions: Think about the solution. The second phase is the Creative Solutions phase, in which you think clearly about the solutions and make decisions regarding closing the planning gaps.
- Strategy Deployment: Implement the solution. The third phase is the Strategy Deployment phase, in which you implement the solution that helps you achieve your desired results.
- Results Management: Manage the results. The final phase is the Results Management phase; we establish a plan to manage and implement the results. This assures that you have confidence your plan will work over time.
Working with a knowledgeable and experienced planner who has access to current technologies and a thorough understanding of tax rules and financial planning techniques is important. Working with an advisor who takes the time to understand your unique desires and goals is critical.
Your planner will take the time to help you make that assessment, develop a plan that works for you and provide you with the tools and strategies necessary to successfully implement that plan.
A coordinated investment strategy is necessary to build an effective portfolio that meets your unique financial needs.
Your goal to achieve financial security will undoubtedly include investing for your future.
We can offer you the expertise you need to ensure your investment strategy is aligned with your goals, time horizon and tolerance for risk.
Northwestern Mutual Wealth Management Company offers investment advisory services, private client services and trust services. Within these levels of service, we may recommend that your portfolio include one or more of the following investment tools.
Signature Choice is an investment advisory program that allows your wealth management advisor to provide advice concerning asset allocation, security selection and rebalancing. Your advisor can utilize a wide range of securities, including mutual funds, exchange-traded funds (ETFs) and individual equity and fixed income investments, to help implement your investment strategy.
Signature Managed Accounts is an investment advisory program that utilizes third-party asset management and portfolio manager selection to assist in providing you with a comprehensive investment solution.
Signature Retirement is an investment advisory program and integral part of the Northwestern Mutual Retirement Strategy planning process. It is designed to manage your assets and income streams in accordance with your overall retirement plan to provide a balanced and reliable source of income throughout your lifetime.
Signature Portfolios is an investment advisory program that utilizes select mutual funds and/or exchange-traded funds to construct well-diversified portfolios for your needs.
Signature Annuities is an investment advisory solution that utilizes investment options available within the NM SelectTM Variable Annuity to construct comprehensive, well-diversified investment portfolios for your needs.
Private Client Services (PCS) is a fully discretionary, flexible portfolio management solution for high-net-worth individuals that uses a combination of individual securities and other investment vehicles to manage client assets. The wealth management advisor serves as the investment advisor and relationship manager, while Northwestern Mutual Wealth Management Company’s PCS investment team provides the investment management.
Trust Services: Whether the goal is estate tax exclusion, spendthrift protection or multi-generation investment management, Northwestern Mutual Wealth Management Company can serve as professional trustee for a variety of trusts.
We also are able to offer you the following products and services through Northwestern Mutual Investment Services, LLC (NMIS):
- Cash management services
- Money market funds
- Mutual funds
- Treasury bills
One of the greatest financial challenges is preparing adequately for retirement. And now more than ever, a strategic plan is crucial to help meet your goals.
Now more than ever, planning for your retirement is critical. Gone are the days when pensions and Social Security provided all the income you needed for retirement. The new reality is that you are responsible for managing your own retirement, and that starts with making sure you’re strategic in your planning.
We can help. At Northwestern Mutual, our approach to retirement planning is designed to help you get to—and through—retirement with a greater level of financial confidence, so you can relax knowing you have a road map to achieve your goals.
You'll want to start by considering how much to save for retirement and where to save it. By accumulating as much as you can as soon as you can, you can put time on your side—time to plan, time to weather the ups and downs of the market and time to let your money grow.
And then, as you zero in on retirement, you'll need a different set of strategies to manage risk and make your money last through retirement.
A will or trust is just one aspect of a broader strategy necessary to fully protect your family and assets and build a lasting legacy.
Most people associate the phrase "estate planning" with having a will - a legal document that names your beneficiaries and spells out who gets what when you die. And while the transfer of your assets is an important part of estate planning, a will or a trust is just one aspect of broader estate-planning strategy to ensure your wishes are known, honored and carried out as efficiently as possible when you're no longer able to articulate them.
We work with a team of estate-planning experts at Northwestern Mutual Wealth Management Company. Together, we can help you develop an estate planning strategy that may include the following:
- A strategy to reduce or eliminate gift/estate taxes for your heirs
- A plan to protect your estate from mismanagement or from claims of creditors or ex-spouses
In addition to the expertise our team can offer, you'll want to work with an estate-planning attorney to establish:
- Health care directives or a living will that specifies the extent to which you want health care professionals to treat you if you become ill or incapacitated.
- Powers of attorney that grant people you trust the legal authority to act on your behalf in case of sudden accident or illness.
- A will or trust to ensure your assets are transferred according to your wishes.
- The naming of a legal guardian for children under the age of 18.
Your business is unique, and it takes a personalized plan to help you create, grow and protect your business’s value.
Whether you’re thinking about launching a new business or planning to expand an existing one, we can help you create, grow and protect your business’s value.
We’ll work with you to develop a personalized financial plan with solutions designed to meet the unique needs of your business, with strategies to:
- Integrate all aspects of financial planning for your business and your personal life to ensure success on both fronts.
- Minimize risk by being prepared for the unexpected.
- Safeguard your business with coverage to help offset the loss of cash flow if you become sick or hurt.
- Recruit and retain employees with competitive benefits programs.
- Enhance your benefits programs to reward employees who are key to the success of your business.
- Transition your business smoothly with a properly designed and funded business succession plan.
A personalized strategy is necessary to sustain and grow your long-term wealth, meet your financial goals and align your comfort with market risks along the way.
Our client services go above and beyond what you might expect from a financial services provider. Northwestern Mutual Wealth Management Company offers the following:
Investment advisory services, designed to:
- Provide high-quality investment services and products
- Build and monitor diversified portfolios
- Develop objective, personalized plans
- Focus on long-term results
Trust services, designed to:
- Provide continuity of stewardship that can last multiple generations
- Preserve family harmony when carrying out your intentions
- Carry out detailed record-keeping and accounting
- Calculate taxes and file returns
Online access to your account, so you can review:
- Comprehensive monthly statements
- Performance reporting
- Account access on a secure website
- Current account balances on your investment holdings
- Detailed transaction records on all accounts
Long-term financial security doesn’t happen by chance. Take control of your future with a customized financial plan.
Every event in life brings unique opportunities. We can help you be financially prepared to take advantage of them.
When you work with our team to develop a financial plan, we’ll apply time-tested strategies, providing expert advice and making recommendations based on where you are today and where you want to be in the future.
Along the way, you’ll have the knowledge and insight to make financial decisions that are right for you and your loved ones so you can meet each of life’s milestones with confidence.
Create a Budget
To reach any financial goal, you need to understand how much is coming in and how much is going out each month by establishing and spending within a budget.
Getting Your First Job
Now that you have your first job, you no doubt have big dreams and lofty goals. You need to ensure you can achieve them. By taking the first step now, you’ll be setting yourself up for a lifetime of financial security.
If you’re about to be married or are newly married, you probably have big hopes and dreams for your future together. Make sure you’re financially prepared – as a couple – to make your dreams a reality.
Buying a New Home
Buying a new home can be one of life’s most gratifying accomplishments. As you prepare to take that big step, make sure you’re ready for the financial commitment. When you approach your decision with confidence, you’ll be free to enjoy this exciting time in your life.
Welcoming a Child or Grandchild
Now more than ever, your goal is to protect the financial well-being of your family. As you welcome a new child or grandchild, evaluate your financial plan to ensure it’s designed to meet changing priorities as your family grows.
Funding a Child’s Education
If one of your financial goals is to pay for a child’s education, the earlier you create a college savings plan, the better. Not only will you save more, you’ll have more time to ride the ups and downs of the financial markets if you choose to invest your savings.
If you’re thinking about changing jobs – or are plunging into self-employment – make sure you are financially prepared to transition smoothly. A new position can be an exciting opportunity, but it may also add to the financial demands on you and your family.
Losing a Job
Losing a job can take a toll on your ego. But it doesn’t have to take a toll on your financial security. There are steps you can take to lessen the impact of temporary unemployment and protect the financial well-being of yourself and your loved ones.
Living Comfortably in Retirement
Now more than ever, planning for your retirement is critical. At Northwestern Mutual, our approach to retirement planning is designed to help you get to – and through – retirement with a greater level of financial confidence, so you can relax, knowing you have a road map to achieve your goals.
At Northwestern Mutual, our financial planning process and investment advisory services are designed to help you zero in on what’s most important to you, prioritize your goals and develop strategies to bring your vision for the future to life.
Accident or Illness
An accident or illness can change your life in an instant. Of course, most people don’t like to think about the potential ramifications of a disabling disease or traumatic event, but these incidents happen more often than you might think. That’s why protecting your ability to earn an income is important.
Divorce can be disruptive to you and your family. Eliminate some of the stress of reinventing your life by taking control of your financial planning.
Loss of a Loved One
Of all the challenges in life, the loss of a loved one can be one of the most painful experiences you will encounter. By having a plan in place to manage the financial consequences of losing a loved one, you can focus on addressing the emotional challenges death may bring.
When you have an estate plan in place, your children or other loved ones won’t be burdened with making tough decisions on your behalf when they’re already dealing with your illness or death.
At the outset, your financial plan may not need to address all of these life events. But over time, as your circumstances and priorities change, we’ll work with you to adjust your plan accordingly.