Northwestern Mutual Announces 2014 Dividend

[BNTRS]

$5.2 billion payout (about two times the size of Lafayette Life, haaa!)

Dividend interest rate finally stops falling and will remain at 5.60% for next year.

Northwestern Mutual 2014 Dividend

Not a bad announcement from the quiet company.

 

[Justin Bilyj]

Meanwhile Mass has their largest dividend rate to date, while NWM blew their load already...
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[HealthGuy]

Does anybody really care about a large dividend payout when they are OVERPAYING for their NWML whole life anyway. Net result = you are still overpaying for life insurance. Quiet company, who cares. Their dividend payback scheme is such a green kool aid joke. Why pimp these guys ?

 

[Deepsea]

Mass didn't have their highest dividend rate, rather their largest total dividend, while the rate went up from 7% to 7.1%

 

[Justin Bilyj]

I stand corrected
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[scagnt83]

Dividend interest rate finally stops falling and will remain at 5.60% for next year.

Anything to keep that AAA rating

 

[HealthGuy]

Nwml life insurance for highbrow uppercrusts. Ridiculous

 

[trustandadvice]

It is the only product that they have. I spent 10 years at Northwestern mutual and left two years ago, the morale at the company is a disaster. Their whole life product enjoyed a renaissance over the past 20 years with interest rates his eyes nine or 10% on their general account, but in my opinion that will never happen again. The future is more than likely variable life insurance and there are a number of companies that do a good job in that area such as MassMutual and Pacific life.

Northwestern mutual force their reps to sell Northwestern mutual product. The focus is on the product and the company and not what is best for the client. The client's needs come second. Because Northwestern mutual has a reputable product and is a good firm they want to justify cramming their product on everybody's throats without taking a consultative approach. Just because you have a good product doesn't mean everybody should own it and it does not mean that everybody should own it in every instance.

 

[CFP83]

Yeah, I have heard from numerous of my former NML colleagues that the morale isnt what is was 8-10 years ago. I spent 6 years with mother mutual.

It says a lot when the largest agency in the northwestern mutual system, the Hoopis agency out of chicago, completely pulled out and went to Mass. Think about that for a second......not only did all the managing partners and managing directors have to come to the same conclusion to leave NML, over 100 reps/agents (some with 25 years plus of experience) all had to make the same decision to leave. Just because the GA decided to leave it doesnt mean the agents had to....but they did.

Just in June two of the biggest guns in the entire company, Dark and Wagner, both out of Los Angeles, said peace out. These two guys were both 20year plus agents who wrote 1million+ every year.

 

[trustandadvice]

Harry Hoopis retired and Goris from Wisconsin took over for Harry. Harry's son Peter left Northwestern Mutual for MassMutual to start the Hoopis Group and they have four or five offices. Pretty nice website. Hoopis is a gigantic name in Chicago and they have / will take a ton of reps away from the firm.

Spoke to a colleague Monday who said that Keith Wagner in Los Angelos, the #1 rep for NML for years, almost left to MassMutual. Word is he was offered $13M. NML I am sure came in with a non-qualified benefit to keep him, having him leave would have literally been a disaster.