Northwestern Mutual launches Family Office Services for $50 million-plus clients

Northwestern Mutual is launching Family Office Services, an integrated unit staffed by more than 40 in-house specialists who will work with the company's advisors and teams nationwide. The Milwaukee insurer says the offering, announced Sept. 29, serves clients with at least $50 million in net worth.

The unit will advise on legal, tax, investment, banking and lending, philanthropy, legacy planning, risk management, and founder and business planning. "Many affluent families have strong individual advisors but lack coordination across their full financial picture," said John Roberts, Northwestern Mutual's chief field officer, who leads its wealth and investment management business. He said the team's role is to align investment, insurance, tax and legacy strategies "under one strategically connected approach."

In Northwestern Mutual's 2026 Planning & Progress Study, 52% of high-net-worth Americans—people with $1 million or more in investable assets—say their financial planning needs improvement. The same share say they emphasize growing wealth over protecting it from risks such as taxes, and one in four say they turned to a financial advisor for the first time last year.

Cerulli, cited in the release, counts more than 100,000 U.S. households with financial wealth exceeding $50 million. That figure measures financial wealth rather than net worth, the standard Northwestern Mutual uses to define eligibility for the service.