{ "crd_number": 2881, "slug": "northwestern-mutual-investment-services-llc-milwaukee-wi-2881", "primary_business_name": "NORTHWESTERN MUTUAL INVESTMENT SERVICES,LLC", "legal_name": "NORTHWESTERN MUTUAL INVESTMENT SERVICES, LLC", "dbas": [], "city": "Milwaukee", "state": "WI", "country": "United States", "cbsa_code": "33340", "metro": { "cbsa_code": "33340", "common_name": "Milwaukee", "msa_name": "Milwaukee-Waukesha, WI", "path": "/advisors/wi/milwaukee" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "1971-12-10", "years_registered": 54, "period": "2026-10-01", "filing_date": "2026-03-31", "carried_forward": false, "raum_total": null, "raum_discretionary": null, "raum_non_discretionary": null, "raum_band": "not_reported", "raum_band_label": "Not reported", "total_employees": 2294, "advisory_employees": 15, "client_count_bucket": null, "clients_by_type": { "banking_thrift": { "raum": 0.0, "count": 1 } }, "compensation_types": [ "fixed", "other" ], "advisory_activities": [ "other" ], "wrap_fee_participant": false, "disclosure_yes_count": 6, "states_registered": [ "AK", "AL", "AR", "AZ", "CA", "CO", "CT", "DC", "DE", "FL", "GA", "HI", "IA", "ID", "IL", "IN", "KS", "KY", "LA", "MA", "MD", "ME", "MI", "MN", "MO", "MS", "MT", "NC", "ND", "NE", "NH", "NJ", "NM", "NV", "NY", "OH", "OK", "OR", "PA", "RI", "SC", "SD", "TN", "TX", "UT", "VA", "VT", "WA", "WI", "WV" ], "websites": [ "https://facebook.com/NORTHWESTERNMUTUAL", "https://instagram.com/NORTHWESTERNMUTUAL", "https://linkedin.com/COMPANY/NORTHWESTERN-MUTUAL", "https://northwesternmutual.com", "https://tiktok.com/NORTHWESTERNMUTUAL", "https://x.com/NM_FINANCIAL", "https://youtube.com/northwesternmutual" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/2881", "disclosure_items": [ { "item": "11.C(2)", "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?" }, { "item": "11.C(4)", "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?" }, { "item": "11.C(5)", "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?" }, { "item": "11.D(2)", "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?" }, { "item": "11.D(4)", "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?" }, { "item": "11.E(2)", "question": "Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?" } ], "city_as_filed": "MILWAUKEE", "url": "https://advisorcensus.com/firm/northwestern-mutual-investment-services-llc-milwaukee-wi-2881", "display_name": "Northwestern Mutual Investment Services,llc", "summary": "Northwestern Mutual Investment Services,llc is an SEC-registered investment advisory firm in Milwaukee, WI, registered since 1971, with no regulatory assets under management reported in its Form ADV filing dated March 31, 2026.", "citation": "AdvisorCensus. Northwestern Mutual Investment Services,llc (CRD 2881): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "Fixed fees (other than subscription fees)", "Other" ], "advisory_activity_labels": [ "Other" ], "quick_answers": [ { "q": "How is Northwestern Mutual Investment Services,llc compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Northwestern Mutual Investment Services,llc reports these compensation arrangements: fixed fees (other than subscription fees); other. The amounts are in Item 5 of its Form ADV Part 2A brochure." }, { "q": "Where is Northwestern Mutual Investment Services,llc located?", "a": "Northwestern Mutual Investment Services,llc's principal office is in Milwaukee, WI, according to its Form ADV." }, { "q": "Is Northwestern Mutual Investment Services,llc registered with the SEC or a state?", "a": "Northwestern Mutual Investment Services,llc is an SEC-registered investment advisory firm, registered since 1971. Status as filed: Approved. CRD 2881." }, { "q": "How have Northwestern Mutual Investment Services,llc's assets and staff changed since 2021?", "a": "In the Form ADV data for Northwestern Mutual Investment Services,llc: Total employees: 2,496 in October 2021 and 2,294 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Northwestern Mutual Investment Services,llc serve?", "a": "By number of clients on Form ADV Item 5.D: banking or thrift institutions (1)." }, { "q": "Does Northwestern Mutual Investment Services,llc report any disciplinary disclosures?", "a": "Reports 6 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order), 11.D(2) (another regulator's finding of a violation), 11.D(4) (another regulator's order in the past ten years), and 11.E(2) (self-regulatory organization's finding of a rule violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/2881" }, { "q": "What changed in Northwestern Mutual Investment Services,llc's recent Form ADV filings?", "a": "In the April 2026 filing data: Updated its list of owners and control persons (Schedule A)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": null, "total_employees": 2496, "filing_date": "2021-08-25" }, { "period": "2022-10-01", "regulatory_assets_under_management": null, "total_employees": 2216, "filing_date": "2022-03-30" }, { "period": "2023-10-01", "regulatory_assets_under_management": null, "total_employees": 2125, "filing_date": "2023-09-20" }, { "period": "2024-10-01", "regulatory_assets_under_management": null, "total_employees": 2537, "filing_date": "2024-08-14" }, { "period": "2025-10-01", "regulatory_assets_under_management": null, "total_employees": 2577, "filing_date": "2025-05-01" }, { "period": "2026-10-01", "regulatory_assets_under_management": null, "total_employees": 2294, "filing_date": "2026-03-31" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/northwestern-mutual-investment-services-llc-milwaukee-wi-2881.md", "clients": [ { "type": "banking_thrift", "label": "Banking or thrift institutions", "count": 1, "fewer_than_5": false, "raum": 0.0 } ], "disclosure_line": "Reports 6 disclosure items on Form ADV Item 11.", "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/2881", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }