Northwestern Mutual Makes Significant Contribution to The American College Center for Economic Empowerment and Equality

This major gift, announced at the 15th annual Conference for African American Financial Professionals (CAAFP), is one of the first The College has received in support and celebration of The College’s commitment to close the racial wealth gap with lasting, collective community-focused solutions. For their leadership, Northwestern Mutual will be recognized as a Founder’s Circle donor. 

“We are tremendously grateful to Northwestern Mutual for their generous contribution which will allow us to take huge strides towards measurable impact in our collective effort to partner with underserved communities and promote economic justice,” said George Nichols III, President and CEO of The American College of Financial Services. “These critical investments our industry leaders are making will allow the Center for Economic Empowerment and Equality to collaborate with others seeking to write a new narrative in history around economic equity.” 

As part of Northwestern Mutual’s ongoing commitment to advancing diversity, equity, and inclusion, their financial support will help with the expansion of the Center’s Four Steps Forward initiative and programs to reach underserved communities and increase their opportunities for economic mobility, as well as educate and empower Black financial professionals as they start and grow their careers. This critical seed funding will help to expand the Center’s financial education programs for Black women, bolster the Center’s scholarship programs for HBCU and early-career financial professionals, and implement a new approach to study groups for Black financial professionals. 

“We are proud to be a partner of The American College and, through this investment in the Center for Economic Empowerment and Equality, work together to advance our common goals of addressing the racial wealth gap and accelerating the success of Black/African American financial professionals,” said Tim Gerend, executive vice president, chief distribution officer, and a member of Northwestern Mutual’s Sustained Action for Racial Equity (SARE) task force. “Northwestern Mutual has a long-standing commitment to diversity, equity and inclusion and this investment reflects our belief that, by partnering with The American College, we can leverage our efforts and achieve a greater impact in our efforts to drive financial inclusion and Black/African American prosperity.” 

In August 2021, Northwestern Mutual announced a new $100-million impact investing fund to deliver on the company's commitment to addressing inequality and the racial wealth gap in the U.S. The fund, which will direct investments to Black communities nationally and locally in the Milwaukee area, will focus on three key opportunities: physical and social infrastructure, access to capital for individuals and businesses, and healthy sustainable neighborhoods and communities. The fund is an outcome of the company's SARE task force, which launched in 2020 and focuses on making a bold, real, and long-term impact that drives equity and inclusion in Black communities.

ABOUT THE AMERICAN COLLEGE OF FINANCIAL SERVICES 

Founded in 1927, The American College of Financial Services is the nation’s largest nonprofit educational institution devoted to financial services professionals. Holding the highest level of academic accreditation, The College has educated over 200,000 professionals across the United States through certificate, designation, and graduate degree programs. Its portfolio of applied knowledge also includes just-in-time learning and consumer financial education programs. The College’s faculty represents some of the foremost thought leaders in the financial services industry. Visit TheAmericanCollege.edu and connect with us on LinkedIn, Twitter, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.

ABOUT NORTHWESTERN MUTUAL 

Northwestern Mutual has been helping people and businesses achieve financial security for more than 160 years. Through a holistic planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what’s most important. With $308.8 billion in total assets, $31.1 billion in revenues, and $2 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.75 million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. The company manages more than $200 billion of investments owned by its clients and held or managed through its wealth management and investment services businesses. Northwestern Mutual ranks 90 on the 2021 FORTUNE 500 and is recognized by FORTUNE® as one of the “World’s Most Admired” life insurance companies in 2021. 

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance).