Northwestern Mutual Cryptocurrency Investing in 2024

Northwestern Mutual BAT, Bitcoin, Bitcoin Cash, Cardano, Dogecoin, Ethereum, Litecoin, Shiba Inu, NEO, Ripple, and Stellar crypto currencies trading account in 2024.

Northwestern Mutual Cryptocurrency Trading

Investors who are looking to trade popular cryptocurrencies, such as BAT, Bitcoin, Bitcoin Cash, Cardano, Dogecoin, Ethereum, Litecoin, Shiba Inu, NEO, Ripple, Stellar, cannot do it on Northwestern Mutual. The broker simply does not offer them. For Ethereum, Bitcoin, Bitcoin Cash, Litecoin, Dash, Zcash, Stellar, Dogecoin, and many more coins trading, investors can use a $0-fee Webull.

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Northwestern Mutual Investment Services Overview

Northwestern Mutual is one of the most respected and trusted names in the insurance industry. The company has been offering insurance and financial solutions for more than 150 years, and so chances are you’ve at least heard of the name. You may not have heard about their lesser known brokerage service, Northwestern Mutual Investment Services (NMIS), but it embodies the same quality and reputation of the broader Northwestern Mutual brand. This article will offer an overview of NMIS and the services and types of accounts they offer.

What Types of Accounts Can I Open?

NMIS focuses on helping families plan and prepare for their futures, including college plans for kids and eventual retirement for parents. As such, NMIS offers accounts that reflect these goals, including IRAs, 401Ks, and annuities for retirement, and 529 college savings plans for the youngest members of the family.

Investable Assets at NMIS

NMIS supports all the major types of assets that an investor would need to build a diversified portfolio to plan for retirement. They include stocks, ETFs, mutual funds, bonds, annuities, and certificates of deposit (CDs). NMIS doesn’t offer any derivatives (i.e. futures, options) on their platform, but these generally aren’t needed for retirement portfolios.

What Kind of Investor is NMIS a Good Fit For?

Northwestern’s roots go back beyond the last century, starting as an insurance provider, where building client relationships are an essential component of the business. This same client-focused approach rings true for their investment services division as well, where as soon as you open an account you are paired up with a Northwestern agent. They will get to know you and your financial situation so that they can better help you.

Your NMIS agent will work with you to build a custom, optimal portfolio catered to your long-term goals and then implement and manage it on your behalf. They will keep in touch with you as frequently (or infrequently) as you prefer to update you on your portfolio and any changes they believe should be implemented as your life progresses. NMIS is probably best-suited for professionals that would like to start planning for retirement or a child’s education but don’t have the desire or expertise to invest on their own.

What does it Cost?

NMIS will charge you a fee as a percent of the assets they manage for you in exchange for their portfolio implementation and maintenance and the market expertise and research that Northwestern uses to shape clients’ portfolios. They don’t disclose exactly what this management fee is on their website as this is something that will be unique to each client, largely depending on the size and complexity of their portfolio. In general, an NMIS client should expect to pay between 1.5% and 2% per year in management fees.

The Client Experience

Once your NMIS agent has created and implemented your portfolio, they will continue to monitor and rebalance it back to target weights as the market moves. You should feel free to reach out to them with any questions you have about your portfolio or the market in general, as this is the client-oriented business model that Northwestern really takes pride in.

They will also regularly check in with you to keep you up to date on your portfolio and to provide you with Northwestern’s insights into the current market environment. This will also be an opportunity for you to update them on any changes (or expected changes) in your life that could impact your investment goals or time horizon.