Payments

Northwestern Mutual Acquires LearnVest for Over $250 Million

Northwestern Mutual has announced that it has acquired LearnVest, a leading player in online financial planning and client experience technology. This partnership brings together the best of what each company offers – Northwestern Mutual's world-class financial professionals and best-in-class products, combined with LearnVest's breakthrough technology and innovative financial planning platform. The New York based startup was acquired for over $250 million, as reported by Fortune.

Both Northwestern Mutual and LearnVest share a core value in delivering financial security through planning. This security is built on a foundation of having access to financial professionals, educational tools, and real time resources that offer simplicity for consumers. This combination brings additional capabilities that consumers want. Northwestern Mutual believes LearnVest brings three critical assets that make the acquisition attractive: modern, easy-to-use financial planning technology; a complete financial education experience; and the entrepreneurial passion of LearnVest's employees.

Northwestern Mutual has more than 4.2 million clients served by a field force of about 16,000. LearnVest currently has about 1.5 million users, more than 25,000 clients under LearnVest at Work, and close to 10,000 premium clients. As the companies combine, both customer bases will grow. Post acquisition, LearnVest will continue to offer financial advice and invest in its direct-to-consumer business,"LearnVest at Work", along with any sponsorship businesses. LearnVest will continue to stimulate growth within its internal team to facilitate further innovation of future technology.

Northwestern Mutual has a history of helping families and businesses achieve financial security.With $230 billion in assets, $27 billion in revenues, nearly $90 billion in assets under management, and more than $1.5 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.3 million people who rely on the company for insurance and investment solutions. It offers many services; including life, disability and long-term care insurance, annuities, trust services, mutual funds, and investment advisory products and services.

Kate

Kate is a staff writer at LetsTalkPayments.com., , She likes to write about mobile payments and mobile commerce.

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