A word with Northwestern Mutual CEO

“And most people are never going to buy insurance without hand-holding” – Northwestern Mutual CEO, John Schlifske, dismisses the concept of ‘do-it-yourself financial planning’ stating that face-to-face meetings are the best way to sell insurance. That’s telling given that slightly over a year ago his company acquired online financial planning startup LearnVest for the hefty price of ~$250 million. Buyer’s remorse? Maybe. Maybe not. Northwestern is using LearnVest’s expertise to build new digital tools, including a software that helps clients monitor their spending and stay on budget.