Question

The northwestern mutual approach to planning is one where every client receives a financial plan.

Answer 1

The Northwestern Mutual financial planning approach is personalized, emphasizing budgeting, understanding financial institutions, and investing early. It also recognizes the importance of insurance and risk management as well as the informed use of credit.

Step-by-step explanation:

The Northwestern Mutual approach to planning emphasizes that each client receives a bespoke financial plan tailored to their individual needs. This method ensures that everyone has access to strategies for budgeting and balancing their incomes with their expenditures. It is essential to comprehend how different banking institutions operate to make the most out of the financial tools available.

Moreover, starting to invest early in life is crucial as it allows more time for the compound growth of investments, often referred to as the 'nest egg'. It is equally important to consider insurance and risk management as they are safeguards against potential financial losses. Utilizing credit is a complex choice with both costs and benefits, and understanding these can lead to more informed economic decisions. These components are integral to a robust financial plan and can greatly assist individuals in becoming savvy economic participants.

Answer 2

- The Prospecting is creating a high activity rate so that you find prospects to begin the connection.
- The telephoning, approach, and fact-finding stages all start to build the trust with the clients. During these parts you also find out what the clients goals are.
- The preparation is with activity and proves that you are willing to put in the work for your clients. The preparation shows the prospect how they can accomplish their goals. -
- The Closing is all of the client, they have freedom and you want them to want to invest with you so they stay an active client rather than just a sale. - The follow through is the continuous proving of your commitment to your client and their trust to help them accomplish their goals.