Liberal Arts Career Services
Liberal Arts Career Services

Northwestern Mutual

Spring 2018

Position: Financial Representative Intern
Student: Economics Senior

Before being officially hired, interns are asked to reach out to people in their lives about their personal experiences with financial planning and learn from them about their view of the industry. In addition to these 5 meetings, interns are required to build a list of about 100 prospective clients or other people that could help introduce you to future prospects. Hired interns are then put through a week-long training program; a course on insurance products, financial utilities and Northwestern Mutual philosophies. Before officially becoming a financial representative for Northwestern, you must become a licensed agent with the State of Texas. The General Lines Licensing Exam isn’t difficult but requires a lot of studying for about 3 days leading up to the exam.

Working at Northwestern Mutual is not stressful or overly demanding because you are able to build your business on your own terms. Mentors have expectations about your activity level however, including: how many phone calls you make, meetings you keep and prospects you obtain from meetings. The expectation is that just have a conversation with people close to you to practice prospecting them and listening to their goals. Eventually you will need to invite prospects to the office for a meeting where you sit and listen during the meeting with a veteran agent. The joint work partners will handle all the first meetings until you feel comfortable running some of them. If the prospective client decides that they are interested in a policy, the joint work partner will initiate underwriting and a you two will split the commission if everything goes smoothly.

Fall 2017

Position: Intern
Student: Economics Senior

Northwestern prides itself in having an internship program that ranks top 10 in the United States. They guide and motivate interns to manage their time, build their own business, and mold into responsible working adults. After three interviews, hired interns are put through a week-long training program; a crash course on the world of wealth accumulation and financial utilities. Before officially being a financial representative for Northwestern, everyone must be a licensed agent. Northwestern’s crash course as well as their variety of study resources will have you well prepared to take your General Lines Licensing exam. 

After these preliminary steps, interns are on their way to becoming successful financial representatives. They earn commissions and a two-hundred-dollar stipend twice a month ($400 a month) upon attending two development meetings a week. Development meetings are biweekly meetings that take place in the office; these times and days are set based on the schedule of all the interns. If you are unable to attend, you may join in over the phone or you may watch the recording of the meetings and give proof of watching.

The commission earned is based off of your activity as a financial representative. By all means they do NOT expect you to be an expert financial representative immediately or even during the course of your internship, and you are encouraged to build your own business on your own terms. At first you are expected to just have conversation with people close to you to practice representing them; once you feel comfortable enough to make moves as a representative you can invite them to the office for a meeting where you sit and shadow a meeting with a veteran agent and the prospective client. Your job at this point is done, the veteran agent will take the reigns. If the prospective client decides on a policy, you and your co-rep will spit the commission on that policy.  

Spring 2011 

Position: Financial Representative
Student: Economics Senior

My schedule requires that I be in the office Tuesday, and Thursday from 8-2 and on Wednesdays from 7-9:30. My duties at Northwestern Mutual Financial Network involve selling life insurance, disability insurance, and long-term care insurance. On Wednesday’s my day begins at 7 a.m. when I begin to make my way to the office. Once I get the office by 7:30 a.m. we have an hour-long meeting in which we discuss different topics. For example, how to stay motivated or what the underwriting form means. At around 8:45 we then go over our client builders, which is our way of tracking ourselves to see if we are performing up to par. At around 9 a.m. is when we begin phoning people that we have either been introduced to or that we know directly.

On Tuesday’s and Thursday’s my day begins at 7 a.m. and I get to the office at 7:30 a.m. At this time, I begin to get organized and do all of my defensive stuff such as getting my paperwork from new clients prepared. At 9 a.m. I phone more potential clients for about an hour and then speak to other representatives until 11 a.m. At 11 a.m. we begin to leave the office to attend our meetings. Sometimes meetings are held in the office or other times they are over lunch at the client’s discretion. ??During the weekends if I go home then I can set and keep appointments there as well. The cool thing about Northwestern Mutual is that it is not location bound. So for example, even in Houston I can continue working and speaking to people. There is also an office in Houston on Westheimer Road so I can set appointments there as well.
Overall Northwestern Mutual is a great company to work for. It is one of the most admired companies as well as a top ten internship in the country.

Position: Financial Rep Intern
Student: Economics Junior

My schedule requires that I be in the office Tuesday, and Thursday from 8-2 and on Wednesdays from 7-9:30. My duties at Northwestern Mutual Financial Network involve selling life insurance, disability insurance, and long-term care insurance. On Wednesday’s my day begins at 7 a.m. when I begin to make my way to the office. Once I get the office by 7:30 a.m. we have an hour-long meeting in which we discuss different topics. For example, how to stay motivated or what the underwriting form means. At around 8:45 we then go over our client builders, which is our way of tracking ourselves to see if we are performing up to par. At around 9 a.m. is when we begin phoning people that we have either been introduced to or that we know directly.

On Tuesday’s and Thursday’s my day begins at 7 a.m. and I get to the office at 7:30 a.m. At this time, I begin to get organized and do all of my defensive stuff such as getting my paperwork from new clients prepared. At 9 a.m. I phone more potential clients for about an hour and then speak to other representatives until 11 a.m. At 11 a.m. we begin to leave the office to attend our meetings. Sometimes meetings are held in the office or other times they are over lunch at the client’s discretion.

During the weekends if I go home then I can set and keep appointments there as well. The cool thing about Northwestern Mutual is that it is not location bound. So for example, even in Houston I can continue working and speaking to people. There is also an office in Houston on Westheimer Road so I can set appointments there as well.
Overall Northwestern Mutual is a great company to work for. It is one of the most admired companies as well as a top ten internship in the country.

Fall 2009

Position: Financial Representative Intern
Student: Economics Junior

The responsibilities of a financial representative intern are very straightforward and require that you have people-skills and a strong initiative. You become licensed as a General Lines Agent with the Texas Department of Insurance and are then qualified to make transactions relating to life, accident, health and HMO. If you find that you like the work, there are opportunities to acquire more certifications and eventually become a registered financial advisor. You are essentially growing your own business, therefore it is your responsibility to set meetings with qualified individuals getting referrals from these potential clients and eventually establishing a client base.  Your work schedule is very flexible, as you will be dividing your time between work in the office and meetings in different locations with clients. The work is commission-based with a stipend of $1,000 for a 10-week period, which is recommended to be used to fund the upfront costs of starting your business. It is all about the existing network of people that you know and knowing the techniques and strategies for marketing your services. 

“A Day in the Life” (Each day is really different, because it is up to you when you work and schedule meetings.) 

8:30 am: Check e-mails and review contact lists  

9:00 am: Make calls recording number of dialed, reached and set appointments 

10:00 am: Study up on application process, marketing techniques, product knowledge, news about the industry and company 

10:30 am: Follow-up on open cases, print illustrations 

11:30 am – 12:30 am: First (Second: to show illustrations, take application Third: policy delivery and review) meeting with potential client taking a “Factfinder” and introducing the work

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    University of Texas at Austin
    FAC 18
    2304 Whitis Ave. Stop G6200
    Austin, Texas 78712-1508
    512-471-7900