Time With The Boss - Gerard Hempstead, Northwestern Mutual

Gerard Hempstead
NORTHWESTERN MUTUAL
Website: stlouis.nm.com
Industry: financial security
Education: B.S., Indiana University, Bloomington; CPA; CFP; CLU; ChFC

Family: married to Jen for 18 years; three kids – Peter (15), Lauren (10) and Matt (9)

What is your mission?
To serve God, serve others and empower people to become the best version of themselves!

What was your first job?
Cutting grass – I started a lawn business at age 12 to help pay for me to play hockey.

What was your worst job?
Washing dishes in my fraternity house in college.

What led you to your industry?
My uncle, Ed Hempstead, was a managing partner for Northwestern Mutual. He saw something in me and encouraged me to come on board 18 years ago.

What was the smartest thing your company did in the past year?
I took the time to sit down and connect with our experienced representatives in the organization and asked them for feedback on how we can get better.

Who is your industry role model?
I have many people that I look up to and learn from in our industry. Locally, the former managing partners, Ed Hempstead and John Qualy, have taught me a lot.

How do you try to differentiate your business from others in your industry? Typically, when people say they have a financial adviser, they really only have an investment adviser or an insurance adviser or someone that’s done a one-time financial transaction with them. At Northwestern Mutual, we slow the process down, really get to know the client through our distinctive financial planning process. It starts with a 60- to 90-minute initial fact-finding experience to learn more about their goals and worries. Then we put together a written, comprehensive financial plan that encompasses risk management, wealth accumulation, and wealth preservation and distribution. We then follow up with the client to stay in tune with the clients’ goals and objectives, update their plan, and adjust accordingly. We work with clients for life.

What’s the hardest part of your job?
Rallying a team of 75 independent financial representatives around a common purpose and value system while at the same time appreciating each person’s unique gifts, talents and perspectives.

What’s the best part?
I have the best job in the world – I get to have a massive impact on people’s lives and on the communities we serve working with and through others!

What best advice would you share with new entrepreneurs?
Pursue what you have a burning desire to pursue. Write down your vision and read it every day, two times a day, seeing it, feeling it and believing it!

What’s your favorite place in St. Louis?
I love a lot of places in St. Louis – too many to list.

What has made you successful in your industry and in St. Louis?
My values of faith, mastery, perseverance and service along with my work ethic.

What do you like to do in your free time?
Spend time with my family.