This year, Northwestern Mutual has hired 87 new financial advisers nationwide, and the Milwaukee-based life insurance and financial services firm has plans to hire even more in 2025.

That's according to Richard Worrell, managing partner in Northwestern Mutual's office in Charlotte, North Carolina, where the company has made a number of moves to accommodate growth . It's not the only market where the firm is in expansion mode.

Worrell told the Charlotte Business Journal that 25 of the new hires this year have been in Charlotte. In 2025, Northwestern plans to hire 100 advisers nationwide, with more than 30 to be based in Charlotte.

"Charlotte is the second-biggest network office in the nation for Northwestern Mutual by number of advisers," Worrell told CBJ. "We've been here since 1967."

The moves across its Charlotte footprint include relocating an office to a larger 5,615-square-foot space, and renovating a 5,852-square-foot Charlotte headquarters office that's home to three companies under Northwestern's umbrella: LifeWorth Financial, Minted Wealth Partners and BWM Wealth Strategies.

Northwestern has also expanded a Charlotte office outside of its headquarters. That office is operated by Plancentric Financial Group, one of Northwestern's private wealth advisers. The space has grown from 936 square feet to 5,000 square feet.

Elsewhere, Northwestern Mutual has relocated one of its Minneapolis/St. Paul-area offices to a newly built-out 21,000-square-foot space as it looks to grow its Twin Cities presence.

The new space in Golden Valley, Minnesota, is about 7,000 square feet larger than the previous office in Edina, Minnesota. Northwestern Mutual retains an office in Edina's Centennial Lakes Office Park.

In total, Northwestern Mutual has around 10 offices in Minnesota and employs around 1,000 people. In 2024, it ranked as the Twin Cities' 11th-largest wealth management firm. However, there is still room to grow, according to BJ Hellyer, a managing partner at the firm who oversees the Twin Cities market.

"The Twin Cities is clearly the greatest opportunity to continue to grow," he said. "So the thought was, how do we build different pockets here in the Twin Cities on the west side, east side, central, and next would be south [side]."

Besides Edina and Golden Valley, the firm has Minnesota offices in Mendota Heights, Mankato, Rochester, Woodbury, Minnetonka and St. Cloud.

In Northwestern Mutual's hometown of Milwaukee, an affiliated financial planning firm — Beauchamp Maleki Group — has signed a lease at the R1ver office building in the city's Harbor District, where it will relocate from smaller downtown offices.

The move is aimed at helping the growing firm continue to expand. Saede Maleki, a co-founder and principal of Beauchamp Maleki, said the firm will add two advisers to a staff of 16 professionals. The new space at R1ver will accommodate 25.

Previous Northwestern Mutual expansion plans

The moves follow other office expansions made by Northwestern Mutual in recent months.

In August, the firm said it converted its downtown Honolulu location into a formal network office , part of plans to double the size of the its team there to meet demand.

In June, the company relocated its San Jose, California, office into a larger space in a nearby suburb, coupling the move with plans to hire 40 full-time advisers, 30 interns and 10 new staff members to join a current staff of 52.

In May, the company relocated a network office in Jacksonville, Florida , to a larger space in order to accommodate its plans to grow the adviser team there sixfold, to 200 advisers by 2026 from the current 31 advisers. There are 55 other team members also working out of the network office.

Northwestern Mutual also announced plans in April to hire 60 financial professionals in the Washington, D.C., region this year, growing its number of advisers by more than 50% amid rising demand for financial planning services.

Symone Graham of the Charlotte Business Journal, Keith Schubert of the Minneapolis/St. Paul Business Journal and Logan Hanson of the Milwaukee Business Journal contributed to this article.