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MILWAUKEE, May 26, 2021 /PRNewswire/ In just over a year, so many habits and behaviors have been transformed by the Covid-19 pandemic, and they extend well beyond social distancing, facemasks and working from home. Northwestern Mutual research finds a third (32%) of Americans say their financial discipline has improved during the pandemic, and 95% say they expect their newfound habits will stick after the health crisis subsides.
These are the first set of findings from the 2021 Planning & Progress Study, an annual research project commissioned by Northwestern Mutual that explores Americans attitudes and behaviors toward money, financial decision-making and broader issues impacting people s long-term financial security.
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MILWAUKEE, May 20, 2021 /PRNewswire/ Northwestern Mutual, a financial security company focused on comprehensive financial planning through both insurance and investments, is announcing the opening of a new office within the greater Washington, D.C. area in Bowie, Maryland. We re thrilled to expand our presence into Prince George s County, said Northwestern Mutual Managing Partner Leo Tucker. It s a diverse and vibrant community right next door to Washington, D.C., and offers immense opportunity to deliver financial planning solutions to historically underserved groups. We look forward to sharing our holistic approach to financial planning with future clients and potential advisors in the area.
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MILWAUKEE, May 12, 2021 /PRNewswire/ Nearly 90% of cultural institutions around the world closed their doors due to pandemic-related safety concerns last year; in Wisconsin, the arts and culture sectors were among those hit the hardest. Northwestern Mutual is seeking to ensure residents and visitors will have the opportunity to continue experiencing the city s many vibrant cultural attractions. The company, through its Foundation, today announced $1.4 million in grants to support prominent destinations in Milwaukee. Our city s cultural spaces provide families, children and tourists with one-of-a-kind opportunities that broaden our knowledge and connect us to different experiences, said Eric Christophersen, president, Northwestern Mutual Foundation. Northwestern Mutual is proud to support these impactful organizations as they continue to recover from the effects of the pandemic and reopen their offerings to our community.
Adviser recruitment on track for record-breaking year
More than 4,000 advisers and brokers switched firms during the first quarter, up 11% from the first quarter of 2020. RIAs and IDBs continue to set the pace.
May 3, 2021
More than 4,000 advisers and brokers switched firms in the first quarter of the year, putting 2021 on pace for record industry recruitment activity.
Moves of experienced advisers between firms were up 11% compared with the first quarter of 2020 and were higher than any other quarter going back to 2018.
The data, which come from the
InvestmentNewsAdvisers on the Move database, exclude transitions between affiliated firms and those that result from a merger or acquisition.
In face of pandemic, IBDs proved resilient in 2020
Last year, the 25 largest independent broker-dealers reported $26.6 billion in revenue, an increase of 4.3% from 2019. Although financial results were far from spectacular, growth at leading IBDs last year was resilient in the face of the Covid-19 pandemic and the havoc it caused for the broader stock market.
April 26, 2021
2020 was anything but a typical year for the industry, particularly for service-focused businesses like independent broker-dealers.
Covid-19 caused firms to shut down their offices and send staff home to work. Advisers began learning to click the mute button on Zoom. And adviser recruits stopped flying to distant cities to press the flesh with executives trying to convince them to switch firms.