Northwestern Mutual is holding its 145th annual meeting in Milwaukee, with an expected attendance of 11,000 participants. The event is projected to generate $21 million in economic impact for the Milwaukee area, according to the company.
The meeting, taking place at Fiserv Forum from July 20-23, comes at a time when many Americans feel uncertain about their economic future. Last year’s event was held at Summerfest grounds due to Fiserv hosting the 2024 Republican National Convention.
Participants use the gathering to network with other advisers from around the country and learn best practices to advise clients. Frank DiMeglio, managing partner for Northwestern Mutual, emphasized the importance of creating financial plans by design rather than default. He explained that the company focuses on understanding clients’ goals and objectives to create tailored financial strategies.
Economic indicators such as a low unemployment rate and rising inflation show mixed performance, prompting customers to seek financial planning services, DiMeglio noted. Northwestern Mutual commissioned The Harris Poll to conduct a survey of 4,626 adults aged 18 and older regarding their feelings about the economy. The results showed that nearly 70% of respondents felt anxiety about their economic future.
DiMeglio pointed out that during times of uncertainty, people recognize the need for financial planning more than usual. He explained that when the economy is performing well, people tend not to think about their finances as much. However, when anxiety arises, individuals begin to focus more on their financial strategies.
He also mentioned that many policies have both offensive and defensive components to handle economic challenges. When there is uncertainty, the company tends to focus on the defensive aspects of financial planning to adapt and take advantage of market opportunities.
— news from (Milwaukee Journal Sentinel)
— News Original —
11,000 Northwestern Mutual advisors gather for annual meeting amid uncertain economy
Northwestern Mutual hosts 145th annual meeting. The company expects 11,000 people to be in Milwaukee.
The meeting is expected to generate $21 million of economic impact to the Milwaukee area, according to the company.
The advisors are gathering during a time when people feel anxiety about the economy.
The Northwestern Mutual annual meeting is back at Fiserv Forum July 20-23 during a time when many people feel uncertain about their economic future.
More than 11,000 employees of the Milwaukee-based financial services company are expected to participate. The company anticipates the annual meeting will generate $21 million in economic impact for the Milwaukee area.
Last year, the meeting was on the Summerfest grounds due to Fiserv hosting the 2024 Republican National Convention.
Participants use the gathering to network with other advisers from around the country and learn best practices to advise clients.
More: Northwestern Mutual survey says money worries making life harder for many Americans
“If your financial plan has something to do with the shiniest, newest stock or newest thing that a person on the news talked about, then you’re living a financial plan default and not by design,” said Frank DiMeglio, managing partner for Northwestern Mutual.
“What we do really great is create financial planning by design. We learn about people’s goals, objectives and from there we create a plan.”
Economic indicators like low unemployment rate and increasing inflation show a mixed performance, and those concerns prompt customers to come to Northwestern Mutual, DiMeglio said.
Northwestern Mutual hired The Harris Poll to conduct a survey of 4,626 adults age 18 and older on their feelings for the economy. According to the results, nearly 7 out of 10 people said they felt anxiety about their economic future.
“During these times of uncertainty is when people recognize that they need (financial) planning more than usual,” DiMeglio said. “As an adviser, when times were good and the market was good and all the data around the country was good, people weren’t thinking about their finances. When they’re anxiety … that’s when people start thinking about it more and that’s when we’re called to action.”
DiMeglio said many policies have an “offensive and defensive side” to handle economic headwinds.
“When there is some anxiety, we tend to lean into the defensive sides of our financial plan so we can adapt and take advantage of excitement in the market,” DiMeglio said.