Northwestern Mutual’s National Training Program (NTP) is designed to provide next-generation financial representatives with foundational learning for a successful career with the financial services company. NTP is designed exclusively for Northwestern Mutual’s Field force (vs. Home Office). Some 76 of 78 Field Network Offices participate in the optional program.
NTP is changing new financial representative learning from an event with a course-driven focus, delivered differently across Field offices, into an end-to-end curated experience that is consistent and customizable, and meets the evolving needs of clients and financial representatives.
Program Details
NTP includes an initial 14-day immersion program (126 hours of foundational learning)—Financial Planning Academy (FPA)—designed and delivered in partnership with the company’s Field leaders using a hybrid format. The three-year curriculum expands the training to include:
- Practice management
- New client acquisition
- Insurance products
- Wealth management
- Financial planning
- Associated technologies
Program delivery includes formal learning events, self-guided microlearning and courses, Webinars, case studies, practice sessions to build confidence, and ongoing joint-work opportunities to apply new learning immediately. Continuous feedback comes from facilitators, mentors, sales leaders, support teams, and other financial representatives who support ongoing learning and skill development.
NTP’s flexible delivery appeals to next-generation financial representatives and those juggling family needs or in remote locations. NTP was developed to be accessible to financial representatives with different learning preferences, skill sets, and experiences. NTP’s cohort approach connects diverse financial representatives with others.
NTP is growing an artificial intelligence (AI) practice environment that immerses new financial representatives in life-like simulations to master high-impact scenarios with customers and prospects. This provides unlimited practice opportunities where the more the tool is used, the more the tool adapts to Northwestern Mutual-specific language and scenarios. Recordings and transcripts are sent to a mentor for review and feedback.
Capstone Case Studies are one-on-one role plays with facilitators, allowing learners to practice, demonstrate acumen, and receive feedback on conducting initial client engagements, financial plan delivery, and recommendation meetings. More than 500 simulations were completed and recorded, and included verbal and written feedback.
NTP employs just-in-time learning moments to meet financial representatives where they are in their early development process. The curriculum is managed within a learning management system and includes milestone triggers for customized learning assignments based on criteria such as: time with the company, productivity results, qualification to sell certain products, and market focus. Learning assignments are automated, creating a consistent financial representative experience. Learning and office-level reporting merges with financial representative demographic data and productivity results to support individual mentoring, accountability discussions, and program evaluation with local Learning leaders and mentors on-demand.
Nine to 12 months after initial training, qualifying new financial representatives are invited to a two-day Trailblazer Academy at the Home Office to learn from veteran financial representatives/advisors and company leaders, network with peers from across the country, and deepen their conviction for their career. Blended learning assignments and case study opportunities continue to deepen product knowledge, introduce advanced planning concepts, and build marketing and business owner acumen. Topics incorporate market and economic updates, changes in regulatory requirements, technology evolution, and other real-time lessons to increase learner engagement, relevancy, and course completion.
NTP’s learner experience approach, insights, and content are being integrated into other curricula and Home Office learning programs.
Results
In 2023, NTP was on track to train 94 percent of new financial representatives, up from 71 percent in 2022.
Results from the initial learning cohorts showed that 12 months after a financial representative’s career launch, they acquired 12 percent more new clients and delivered 21.5 percent more financial plans than similar new financial representatives trained outside the program.
