Northwestern Mutual - Project

MARKET RESEARCH
PROJECT
Northwestern Mutual
Elgin, Skokie, Lombard, Vernon Hills, West Loop
Market Research Project
Identifying your financial services market
Purpose
The purpose of the Market Research Project is to help you understand the needs and perceptions
of the general public around financial services. This process will help bring to light new
questions or areas of concern and will ultimately allow you to make a better-informed decision
about pursuing this exciting internship.
The research collected is for your benefit only. We will not keep or use the results.
Introduction to your Market Research
Think about individuals you know that are successful both professionally and personally. Has
this person achieved success by admirable work ethic, courage and integrity? Is this someone
who is focused, unafraid, unstoppable and takes massive action toward accomplishing their
goals?
 You will conduct a total of 10 surveys

 These 10 people should be made up of the following:
o 4 people you know and trust (Family members, close friends, family friends)
o 3 people you are acquaintances with (You know them, but are by no means close)
o 3 people you did not know before starting this project
 You will get introduced to individuals throughout this project, you will
then need to reach out to them to complete your project!
o ALL SURVEYS SHOULD BE WITH PEOPLE FULLY EMPLOYED
Upon completion of project, scan, fax, or email your project to me. This should take no more
than 2 weeks. At that point, we will schedule a time to review the projects and continue the
interview process.
If you have any questions, DO NOT HESITATE to reach out.
Good Luck!
Dan Venus
College Unit Director
3 W Hawthorn Parkway, Suite 310
Vernon Hills, Illinois 60061
office: 847.573.6847
dan.venus@nm.com
“YOU WORKSHEET”
The “You Worksheet” is meant to help you identify the 10 people you will have a
conversation with. Start to brainstorm people you may know in these categories as well
as: associations in which you have membership, clubs to which you belong, family and
relatives, hobbies, past work experiences, places of worship, schools you attended, your
neighborhood, and your personal or professional advisors.
SCHEDULING YOUR CONVERSATION
Now that you know the people you would like to speak with, how do you get these
people to agree to meet with you?
First, you must have an effective phone conversation in order to secure your 10
meetings. Since you only have a limited amount of time to explain what you need,
you have to be clear, convincing, and brief.
The following will help you achieve these goals. This will language provides a
proven way to schedule your 7 conversations with people you know well and
acquaintances:
“Hi (name). This is (your name). How are you? The purpose for my call is to
schedule a time to speak with you in order to receive some input. I am considering
an internship with Northwestern Mutual. With that being said, I would like to know
a little bit more about your perceptions of the industry and how best to be a
resource to others. Could we get together in person or over the phone in the next
few days for about 15 to 20 minutes? I’d like to reach a decision as soon as
possible.” (Set appointment time and place or a specific day and time for a phone
call.)
This language will help you schedule the 3 conversations with people you’ve been
introduced to:
“Hi (name). This is (your name). Did (nominator) tell you I was going to be
calling? How are you? The purpose for my call is to schedule a time to speak with
you in order to receive some input. I am considering an internship with
Northwestern Mutual. With that being said, I would like to know a little bit more
about your perceptions of the industry and how best to be a resource to others.
Could we get together in person or over the phone in the next few days for about
15 to 20 minutes? I’d like to reach a decision as soon as possible.” (Set
appointment time and place or a specific day and time for a phone call.)
When meeting the people with whom you have scheduled conversations, it is
important to remember to use your time efficiently. The information on the
following pages gives you a structure for your conversation.
Market Research Conversation #1 – People you know well
Name Bryan Castellanos
Occupation Sales representative at LuLu Lemon and Head Life Guard at Lifetime
Fitness
Date of Survey 12/15/19
“As I mentioned, I’m giving serious consideration to a Top 10 internship in the country as a financial representative
with Northwestern Mutual. Have you heard of Northwestern Mutual?”
Yes
If yes, please share your experience and what you know about Northwestern Mutual…
His friend got an internship there before and one of his friends got one there as well.
What do you think a financial advisor should do for you?
Help manage one’s money and other things that one does not think about.
On whom do you currently rely for financial advice? How did you choose that person?
A combination of people that he knows like his mom and friend’s parents that are in the Accounting field because
they are good with money.
What expertise do you have with financial products, please specify?
Not sure
How much time do you spend thinking of and taking action on your personal financial plan?
A few times a week
If I move forward in pursuing this internship with Northwestern Mutual, what is your advice on how you market to
someone like yourself?
Market to younger people that should think about saving money now and getting help early rather than late.
If I do decide to join Northwestern Mutual would you have any objection to sitting down with me to see if I can be a
resource to you in the future?
Not now, but potentially a year or two from now when he might need some help.
Do you have any other comments beyond what I have asked you today?
Would you be willing to help me complete this project by introducing me to 3-4 people of whom
I might ask the same questions? Once they give you names, ask them to reach out to them to give
a heads up you may be calling.
YES or NO Level of Enthusiasm 1 2 3 4 5
Name Daniel Coachman- 847-409-3540
Name Jon Jezorski- 224-201-8048
Name
Name
Name
Name
Name Greg Coutre
Occupation Channel account manager for Zebra Technologies
with the Northwestern Mutual. Have you heard of Northwestern Mutual?”
Yes
Hasn’t had any direct contact with them but they offer financial services as well as insurance
Should address by short and long-term goals financially and if time is passing and any changes come about that will
affect you positively
Relies on himself now because he thinks he is the most reliable person for this
What expertise do you have with financial products, please specify.
Always expect a financial advisor to ask all the questions so they can provide the best plan of action for him. If he
wants an aggressive growth path and he knows it will be at higher risk.
Every night thinking about how he’s going to pay college for his kids.
Companies are always looking for young fresh perspectives on the financial world, so it is always good to have a
good mix of experienced people and it is also beneficial for the company to have a fresh outlook to represent the
younger generation.
No objection, he would sit down with me
Name
Name
Name
Name
Name
Name

Name Craig Takaoka
Occupation Channel Sales manager for Hitachi
Yes
They are a market leader in life insurance and financial services.
He/She should suggest investment directions and aligning them with his long-term goals.
None, he trusts himself the best
Not much
Twice a year, only when he re accesses his 401 k contributions and what he sees what is going on in the
marketplace.
He would construct a plan based about his current situation relative to his children. For example, if he has kids going
to college soon.
Yes, it is free and would be beneficial to my time
Name Joe Levato- 847-436-6098
Name Scott Michel- 312-805-0504
Name Phill Lin- 847-638-2850
Name Steve Marchi- 312-415-3342
Name Ed Deluga- 847-815-5723
Name

Name Richard Dresden
Occupation Senior VP of sales and field operations at Ensono
Yes
Policy holder for 15 years for life and disability insurance

Align with his goals and help him achieve them safely and securely
Wells faargo, because they were the same age when he met them and he did not want his dads financial advisor and
he wanted to
Started at Merrly Lynch then then Wells Fargo then kept with them since then
MBA in finance and relies on financial advisor and to create wealth with primary occupation
Once every quarter
Come up with innovative ideas in order to get older adults like myself to switch over to your services
Yes
Name Glenn Swanson-
Name John Hannah
Name
Name
Name
Name
Market Research Conversation #5 – Acquaintance

Name Mark Vance
Occupation Financial Advisor for Carlton bank
Yes
Current customer of northwestern mutual life and disability insurance through here. One of the biggest life insurance
agencies in the nation
Should meet with him periodically and re asses his financial goals because they change over time and to find out
what he is trying to accomplish and provide solutions.
Dennis Mccmormick at Northwestern Mutual and he chose him because his wife knew his sister.
He was a finance major at Mizzou and has been working for Chase, Lehmon brothers and now Carlton bank for the
past 28 years.
Every day and he spends probably once in a while taking action about four times a year.
He doesn’t mind people reaching out and calling and following up periodically, but no one makes a decision on the
first call ever. Sometimes when there is a pushy sales person it turns him off. If someone is patient and understands
the values of not pushing people to buy something they will be successful.
Since he already has Northwestern Mutual as one of his resources, he said that he would connect me with people that he
knows that would be in need of these services.
Name Frank Kopechy- 217-652-8631
Name
Name
Name
Name
Name
Name Don Wentzel
Occupation Self-employed,
Yes
Yes, they are a financial institution that provides insurance such as life insurance
Someone who looks after your investments
Kovitz Financial, they handle his stock investments and bonds
CPA, stocks and bonds

Not a lot, very little
He’s always trying to maximize his return on money
Probably not, he already has his life insurance with a different company, but would connect me to other people in
need of this resource
Name
Name
Name
Name
Name
Name

Name Jose Sanchez
Occupation Xsport Fitness trainer
No
None at all
Helping one maintain stability in the financial world, putting your money in something that is beneficial for yourself
not just for the advisor.
Himself, he tries to do stuff on his own or ask his parents for some advice. He does some online research once in a
while and watches the news to see what is going on in the world.
He knows a little bit about 401k.
He focuses on this almost every day, he has to time manage because of how busy his schedule is
Be real with people, give more insight on the benefits of what is going to happen if you choose to go with
Northwestern Mutual. Do something that will not just benefit you, but something that benefits the customers
because customer trust goes along with customer loyalty.
Because he is not too financially stable right now he would want to wait a little while, but he trusts me and will put
me into contact with others that he knows will need this right now.
Name Oscar Rodriguez- 224-531-2227
Name
Name
Name
Name
Name
Market Research Conversation #8 – New People - Introduction

Name John Jerzorski
Occupation Barista and graphic designer
Yes
They are financial advisors
Advise me on how to save my money, and what I should spend it on

His dad, he does not trust anyone else with this
Has a 401K, has a bank and credit card app, and he invests in stocks occasionally.
Very little, unless he is trying to sell items on the internet.
Ask them about what financial plans that these people would need and when they are getting off of their parents
plans moving forward.
Potentially, doesn’t see himself as being reliable right now.
Name Trevor Moyers- 847-606-3898
Name
Name
Name
Name
Name

Name Carter Morrison
Occupation Commercial banking
Yes
Possible fortune 500 company, sell life insurance
Be there to listen to your ideas, being able to bounce ideas off each other and get a feel for how to handle your
money, not so make money off you, but to build a long-lasting relationship with customers.
401k through employer, Bucate financial team
Very little about the financial side of things, roth 401k, little bit about stocks
Not enough, consumes his thoughts a lot and he thinks about it daily but it is not something that he puts into action a
ton
Reach out to everyone that you know that might be interested in the process, reach out to younger generations
because older generations like our parents already have something set up.
Told me I could give him a call if I get this internship and we can discuss things.
Name
Name
Name
Name
Name
Name
Name Oscar Rodriguez
Occupation Works at Sedgebrook retirement home
No
Help with saving money and spending it on essentials that are needed for daily life
Himself, he likes to manage his own money and make his own decisions.
Used to invest in stocks a little bit

Not a lot, a few times a year
Be personable, do not lie, be a likebale person, create a bond between you and the client
Potentially in the future
Name
Name
Name
Name
Name
Name
YOUR EXPERIENCE
What new insights did you obtain during your market surveys?
I learned a lot about what people think financial advisors do and how they are perceived
by the average person. I learned that most of the older people that I talked to already
had some sort of life insurance, so I started contacting younger adults that I feel like
need this more right now.
How easy or difficult was it to conduct these surveys? How did it feel?
I did not find it too difficult. At first, I was a little nervous calling people that I did not
know, but I ended up liking to talk to the people that are just acquaintances and people
that I did not know a lot more. It gave me a lot of confidence talking to people that I did
not know as well, mostly hearing them tell me that I seem very trustworthy.
Were you able to receive favorable introductions to others?
Yes, one of the people that I put on the list was a friend of a friend who I did not know
and he said that my friend only has said good things about me, which made our
conversation a lot more comfortable.
Other observations:
I ended up to enjoying the phone calls I had and I feel like meeting with people in
person will only be better because of the personal connections you can make while you
are in the same room as another person.

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MARKET RESEARCH

Introduction to your Market Research

 You will conduct a total of 10 surveys

If you have any questions, DO NOT HESITATE to reach out.

What do you think a financial advisor should do for you?

What expertise do you have with financial products, please specify?

A few times a week

YES or NO Level of Enthusiasm 1 2 3 4 5

Name Daniel Coachman- 847-409-3540

Name Jon Jezorski- 224-201-8048

What do you think a financial advisor should do for you?

What expertise do you have with financial products, please specify.

No objection, he would sit down with me

Market Research Conversation #3 – People you know well

They are a market leader in life insurance and financial services.

What do you think a financial advisor should do for you?

None, he trusts himself the best

What expertise do you have with financial products, please specify.

Yes, it is free and would be beneficial to my time

YES or NO Level of Enthusiasm 1 2 3 4 5

Name Joe Levato- 847-436-6098

Name Scott Michel- 312-805-0504

Name Phill Lin- 847-638-2850

Name Steve Marchi- 312-415-3342

Name Ed Deluga- 847-815-5723

Market Research Conversation #4 – People you know well

Policy holder for 15 years for life and disability insurance

What expertise do you have with financial products, please specify.

Once every quarter

YES or NO Level of Enthusiasm 1 2 3 4 5

Name Glenn Swanson-

Name John Hannah

Market Research Conversation #5 – Acquaintance

What do you think a financial advisor should do for you?

What expertise do you have with financial products, please specify.

YES or NO Level of Enthusiasm 1 2 3 4 5

Name Frank Kopechy- 217-652-8631

What do you think a financial advisor should do for you?

Someone who looks after your investments

Kovitz Financial, they handle his stock investments and bonds

What expertise do you have with financial products, please specify.

CPA, stocks and bonds

Not a lot, very little

He’s always trying to maximize his return on money

YES or NO Level of Enthusiasm 1 2 3 4 5

Market Research Conversation #7 – Acquaintance

What do you think a financial advisor should do for you?

He knows a little bit about 401k.

YES or NO Level of Enthusiasm 1 2 3 4 5

Name Oscar Rodriguez- 224-531-2227

Market Research Conversation #8 – New People - Introduction

They are financial advisors

What do you think a financial advisor should do for you?

Advise me on how to save my money, and what I should spend it on

His dad, he does not trust anyone else with this

What expertise do you have with financial products, please specify.

Very little, unless he is trying to sell items on the internet.

YES or NO Level of Enthusiasm 1 2 3 4 5

Name Trevor Moyers- 847-606-3898

Market Research Conversation #9 – New People - Introduction

Possible fortune 500 company, sell life insurance

What do you think a financial advisor should do for you?

401k through employer, Bucate financial team