Northwestern Mutual, Financial Advisor, Carmel, Indiana

Though mathematically his chances were slim, a Trine University student is very glad he decided to apply for a paid practicum program through Northwestern Mutual.

“It never hurts to try your best and take a risk,” said Beau Binnie, one of 24 students selected from some 10,000 applicants for a developmental program piloted by the firm’s Carmel, Indiana, office.

The program provides college students a fully paid practicum where they are partnered with a financial advisor. Students learn financial analysis, entrepreneurship, business development and marketing and communication.

They also complete all investment and insurance exams, build a practice through referrals and pursue designation such as the CFP or ChFC, with all licenses and certifications fully paid by Northwestern Mutual.

Being from Canada, Beau did not have a local network of friends and family and had to start from ground zero. He became the 11th person in the history of Northwestern Mutual Indiana to reach client milestones in less than a year and has one of the top five fastest growing businesses out of thousands.

His hope is to become a College Unit Director managing a team of interns to inspire the next generation of young business owners.

Against all odds

A finance major from Stouffville, Ontario, Beau first learned of the program when Justin Ruetz, managing director with Northwestern Mutual-Indiana, spoke to his Investments class about the opportunity.

“Justin spoke to us for an hour about the program and what it would entail,” Beau recalled. “He also mentioned the difficulty level of being selected for this program would be very high.”

Specifically, Ruetz said the company would interview some 10,000 students for 24 available positions. Though discouraged by the odds, Beau decided to give the process his all.

“I have always been very interested in wealth management, and Northwestern is one of the top wealth management firms in all America,” he said. “I really enjoy helping people achieve goals and helping them achieve their financial goals for retirement is a perfect fit for me.”

He applied through a QR code Ruetz provided, then was interviewed for 30 minutes about his goals and plans for the future via video call by a member of Northwestern Mutual’s college recruitment team. The interviewer followed up by sending a personality test to determine Beau’s compatibility with the Carmel office.

The next round of interviews used a group format that included Beau and three other candidates, with the opportunity to ask about any concerns with the program. Following several more phone interviews, Beau was invited to Carmel for a job shadow day, where he sat in on client meetings and did a case study covering what the process is like.

After one more personality survey to see how he would handle the hardest parts of the internship, Beau was offered a position.

“It was very exciting. This is something I really wanted when I learned about the whole program,” he said. “Not only was I ecstatic that I got my first choice of an internship, but it was a huge relief off my shoulders knowing that I have an internship for the summer.”