Northwestern Mutual adds ESG option for wealthy clients

The new service provides 'white glove, customized' options for high-net-worth clients

Northwestern Mutual has rolled out ESG investment options specifically for high-net-worth clients, the company recently announced.

The new services are designed for investors in the company’s private client services and signature managed accounts programs.

The news about the ESG options follows the company’s addition late last year of active and passive ESG portfolios in its mass-affluent mutual fund and ETF model portfolio service, Signature Portfolios, Northwestern Mutual noted in an announcement.

The new “white glove, customized” options for high-net-worth clients are available from the company’s advisers and “feature both proprietary management by Northwestern Mutual Management Company portfolio managers as well as a blend of actively managed ESG funds and ETFs that meet the firm’s research criteria and quality standards,” the firm stated.

“Clients invested in the ESG models are differentiated through active management of their large cap holdings in the NMWMC ESG Large Cap Core Equity Portfolio … integration of ESG research in the process of selecting portfolio holdings, and asset allocation weightings,” according to the statement.

Northwestern reports being among the 10 biggest independent broker-dealers in the country by revenue. As of the end of March, its retail assets under management stood at $237bn.