What To Expect When You Meet With a Northwestern Mutual Financial Advisor

Meeting with a financial advisor can feel like a big step. You might be excited to get organized or unsure what you’ll be asked and wonder whether you’re ready.

The reality is simpler than most people expect.

Your first meeting is designed to allow you and your advisor to get to know one another. It’s also a chance to talk through your goals, your questions, and what you want your money to do for you.

Expect a meeting that fits your schedule

Your advisor will work with you to find a time and location that works for you. They might suggest meeting in a coffee shop, the advisor’s office, or even over Zoom, depending on your schedule. Let them know what works best for you—what’s most important is to just get started.

Expect a thoughtful conversation, not just a pitch

Every advisor has a different approach, so getting to know each other is an important part of your first meeting. Feel free to ask them about their certifications, office, and experience.

Some advisors may also specialize in a particular area or type of client, like people approaching retirement or getting established. Don’t be shy about telling them what you’re looking for from the conversation or relationship to get a better idea of how they can help. Share with them what you’re thinking about financially, which might include things like these:

• Building savings
• Paying down debt
• Buying a home
• Supporting family
• Planning for retirement

The goal here isn’t to map out your entire future in one meeting. It’s to start the conversation.

Expect specific questions about your financial situation (and it’s OK not to have all the answers)

Your advisor will likely start to get into specific questions about your current financial situation and your short- and long-term goals. The answers to these questions will help them get an understanding of the phase of planning you’re in—and how they can help you get to where you want to be. But it’s important to understand your starting point. They may ask you these types of questions:

• What is your income?
• How much do you have in savings and investments?
• Do you have any debt?
• What benefits do you have through your employer (including life insurance, disability insurance, or retirement contributions)?
• Do you have any life insurance individually?

It can be helpful to bring some of this information with you (with things like a pay stub, last year’s taxes, or account balances). But if you don’t know every number, that’s OK. Estimates are enough to start. Even “I’m not sure” is useful information for your advisor.

And while these questions can feel personal, know that everything you discuss is confidential and necessary to give you advice that is tailored to you and your unique situation.

Expect your advisor to talk about solutions that can help

Once your advisor understands your goals and your starting point, they’ll begin outlining how to think about planning; however, don’t expect individual recommendations in your first meeting. Our advisors typically take a phased approach to planning to identify where you are and help you take the next step—be it establishing a foundation, being more strategic, optimizing for retirement, or transferring wealth to your loved ones.

At a high level, most plans focus on two things:

• Growing your money: Savings and investment strategies designed to help you build wealth over time
• Protecting what you’re building: Using life insurance and other solutions like disability insurance and annuities to help protect your income and assets and support your goals

It’s likely your advisor will want to talk to you about insurance solutions; after all, it’s a part of our comprehensive planning. This is because when it comes to a good financial plan, considering insurance along with investments can lead to better financial outcomes—more income in retirement and larger legacies to leave your loved ones¹. Research has found that a financial plan involving permanent life insurance, income annuities², and investments is more likely to outperform an investment-only approach over the long term.

Taking a comprehensive approach can help you spend more confidently today, with a financial plan designed to address growth opportunities while helping manage risks and unexpected events.

Expect a better understanding of what it looks like to work together

There are many different ways you can work with a financial advisor. In your first meeting, you should make sure you get a clear sense of what your options are. Most advisors offer ways to:

• Build a comprehensive financial plan.
• Address an area of concern or priority, like managing investments or life insurance, and build your relationship over time.

Don’t feel pressured to make any high-stakes decisions. It’s not uncommon for people to start by just focusing on a specific product or need with an advisor and grow into a more connected relationship over time—adding things like a financial plan or managing investments down the road.

How you pay for services depends on what your advisor is doing for you, so you should also understand how your advisor is compensated.

You’d be surprised at the positive effects an advisor can have on your financial life and well-being. Research led by financial psychologist Dr. Sonya Lutter⁴ found that people who work with a financial advisor on a comprehensive plan report lower financial anxiety and higher confidence in their decisions—largely because they have someone they trust guiding them.

Remember, you’re choosing a long-term partner to support you in life’s key moments, so don’t be afraid to shop around for an advisor who is the right fit.

Expect the conversation to continue

You likely won’t make any decisions or take any big action in your first meeting. You and your advisor will likely set up another time to reconnect so that they have time to take what you’ve shared and put together some personalized recommendations.

Your next conversation may go below the surface a bit more to set financial priorities and explore solutions that can help you. This is where your advisor will likely provide some options for how they might best support you.

They’ll walk you through those recommendations, explain how they work, and help you decide which steps to take—be it applying for a policy or moving forward with a comprehensive, custom plan. And if you have further questions, continue to ask them along the way.

Knowing what to expect can make that first meeting feel less daunting and more useful. And with the right advisor, it can be the start of a long-term partnership built around helping you feel more confident about your finances. In a study led by behavioral scientist Hal Hershfield, 80 percent of Northwestern Mutual comprehensive clients who have permanent life insurance, either investments or annuities, and a recent financial plan⁵ said they feel they can enjoy life more comfortably, compared with 63 percent of general consumers. Another 67 percent said they believe they can make progress without worrying, versus only 49 percent of general consumers. Based on this, you may find that your advisor relationship has more benefits beyond the financial ones.

Frequently Asked Questions

What should I expect from a meeting with a financial advisor?

Your first meeting is typically a conversation—not a commitment. Your advisor will focus on learning about you: your goals, family situation, income, assets, and any concerns you have about money. You may walk through topics like retirement timing, protection needs (like life or disability insurance), debt, and investment experience. Expect more questions than answers at this stage. The goal is to build a clear picture of what matters most to you, the phase of life you’re in, and where you’d like to go in the future.

By the end of the meeting, you should have a sense of how the advisor works and what a plan might look like. Some advisors will outline next steps, such as a follow-up meeting with recommendations. You’re also determining if they’re a good fit—taking into account whether their approach feels aligned with your needs.

What do I bring to my first meeting with a financial advisor?

Come prepared with specific information on your finances. Helpful items include recent pay stubs, a list of assets (bank accounts, investments, retirement plans) and debts (mortgage, student loans, credit cards), and any existing insurance policies. You don’t need everything perfectly organized, but the more accurate your snapshot, the more useful the conversation will be.

It’s also just as important to bring your questions and priorities. Think about what’s prompting the meeting—saving for retirement, protecting your family, managing a windfall, or simply getting organized. If you have a partner, consider attending together or aligning beforehand so the discussion reflects shared goals.

What questions should I ask my financial advisor in the first meeting?

Focus on learning as much as you can about both the advisor and the process. Good starting questions could include: How long have you been doing this? Why did you get into this line of work? What services do you provide, and how would I compensate you for them? Who typically benefits most from working with you? You can also ask how they approach big areas like risk, long-term investing, and protection planning.

Equally important is clarity around what happens next. Ask what a typical client journey looks like, how often you’ll meet, and what you can expect between meetings. Some advisors work with an assistant who does most of the communicating, so you may also want to know who your main point of contact will be. Your advisor will welcome these questions and help you feel more confident, not more overwhelmed.

All investments carry some level of risk, including the potential loss of principal invested. Diversification and strategic asset allocation do not assure profit or protect against loss.