How to name beneficiaries and fund a trust at Northwestern Mutual Investment Services
Covers 8 investment, and 5 retirement accounts — beneficiaries must be updated in-branch
Northwestern Mutual Investment Services
Subsidiary of The Northwestern Mutual Life Insurance Company
northwesternmutual.com/investments→
Investment Client Services
Non-investment materials and account paperwork: Northwestern Mutual, P.O. Box 2958, Milwaukee, WI 53201. Investment CHECKS go to the clearing firm (include the Pershing account number on the face of the check): non-retirement, regular mail — Pershing LLC, P.O. Box 382121, Pittsburgh, PA 15250-8121; rollover/IRA contribution checks, regular mail — Pershing LLC, P.O. Box 382084, Pittsburgh, PA 15250-8084.
Investment Client Services
Non-investment materials and account paperwork: Northwestern Mutual, P.O. Box 2958, Milwaukee, WI 53201. Investment CHECKS go to the clearing firm (include the Pershing account number on the face of the check): non-retirement, regular mail — Pershing LLC, P.O. Box 382121, Pittsburgh, PA 15250-8121; rollover/IRA contribution checks, regular mail — Pershing LLC, P.O. Box 382084, Pittsburgh, PA 15250-8084.
Investment Client Services (deceased account holder)
Account paperwork and death certificates: Northwestern Mutual, P.O. Box 2958, Milwaukee, WI 53201. Physical stock and bond certificates: Pershing LLC, Attn: Security Receive Dept, One Pershing Plaza, Jersey City, NJ 07399. Book-entry re-registration: Attn: Legal Transfers, 720 E Wisconsin Ave, Milwaukee, WI 53202.
The key to protecting your Northwestern Mutual Investment Services investment accounts is making sure each one has a transfer mechanism in place—either a beneficiary designation or trust ownership. Without one, the account goes through probate, adding time, cost, and court involvement for your family.
Each of Northwestern Mutual Investment Services's 13 investment accounts has different rules for how it transfers at death. The sections below explain the options for each.
- A TRANSFER-ON-DEATH (TOD) registration on a taxable brokerage or advisory account, which sends the account to a named beneficiary outside probate
- A BENEFICIARY DESIGNATION on an IRA, which is the only way an IRA passes (an IRA cannot be retitled to a trust)
- A SUCCESSOR OWNER on a 529, which is what actually controls the account if you die — not the 529's "beneficiary," who is the student
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- No online beneficiary self-service for investment accounts — everything runs through a financial representative or Investment Client Services
- Neither Northwestern Mutual nor its clearing firm publishes a TOD or IRA beneficiary form publicly; the form comes from the representative
- (866) 950-4644 is investment products only. Life insurance: (877) 394-9524. Universal life: (866) 464-3800. Annuities: (866) 269-2950
- An IRA is passed by beneficiary designation only and must never be retitled into a trust
- A 529 needs a SUCCESSOR OWNER named; its "beneficiary" is the student and does not govern what happens if the owner dies
- An UGMA/UTMA needs a successor custodian, not a beneficiary — the assets already belong to the minor
Sources
Data sourced from Northwestern Mutual Investment Services primary sources (12 pages reviewed). How we research.
Download these Northwestern Mutual Investment Services instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Northwestern Mutual Investment Services primary sources. Bring it to the branch or keep it beside the phone.
Northwestern Mutual Investment Services
Subsidiary of The Northwestern Mutual Life Insurance Company
northwesternmutual.com/investments→Investment Client Services
Non-investment materials and account paperwork: Northwestern Mutual, P.O. Box 2958, Milwaukee, WI 53201. Investment CHECKS go to the clearing firm (include the Pershing account number on the face of the check): non-retirement, regular mail — Pershing LLC, P.O. Box 382121, Pittsburgh, PA 15250-8121; rollover/IRA contribution checks, regular mail — Pershing LLC, P.O. Box 382084, Pittsburgh, PA 15250-8084.
Investment Client Services
Non-investment materials and account paperwork: Northwestern Mutual, P.O. Box 2958, Milwaukee, WI 53201. Investment CHECKS go to the clearing firm (include the Pershing account number on the face of the check): non-retirement, regular mail — Pershing LLC, P.O. Box 382121, Pittsburgh, PA 15250-8121; rollover/IRA contribution checks, regular mail — Pershing LLC, P.O. Box 382084, Pittsburgh, PA 15250-8084.
Investment Client Services (deceased account holder)
Account paperwork and death certificates: Northwestern Mutual, P.O. Box 2958, Milwaukee, WI 53201. Physical stock and bond certificates: Pershing LLC, Attn: Security Receive Dept, One Pershing Plaza, Jersey City, NJ 07399. Book-entry re-registration: Attn: Legal Transfers, 720 E Wisconsin Ave, Milwaukee, WI 53202.
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