Maintaining multiple financial accounts at different institutions can create confusion and cause you to become frustrated. Receiving a number of account statements, monitoring investment performance and tracking interest rates for several accounts can involve a lot of work, not to mention take up precious time.
Northwestern Mutual Investment Services, LLC (NMIS) offer a solution: accounts that can help you consolidate your assets, while providing valuable features. Choose from:
- NMIS Gateway™ Platinum Account
- ProCash Plus Checking
- IRA Resource Checking*
Consolidate your financial accounts and bring order and convenience to your banking and investment activity. Some of the features and benefits of our accounts include:
- Efficient settlement of securities transactions
- Multiple money market choices for your cash balance
- Automatic investment of cash balances into the money market of your choice
- Check writing privileges
- Direct deposit
- Access to account information via the Internet
The Money Market Advantage
Each of our accounts includes a variety of money market fund choices available for your cash balances. This feature offers you the potential for higher yields on your balances. The tax-exempt money market funds may be subject to federal, state and/or municipal/local tax, depending on the account chosen.
We offer both taxable and tax-exempt money market funds, plus an insured deposit account. Placing your assets in a money market fund provides a degree of safety, a level of liquidity and income.
Money Market funds are offered and sold by prospectus only. For more complete information, including investment objectives, risks, charges, expenses, and other information about the investment company, please contact your Northwestern Mutual Investment Services Registered Representative for a prospectus. Carefully read the prospectus and consider this information before investing.
An investment in any money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any government agency. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund. Yield fluctuates.
Special Account Services
Special account services are available with your NMIS account including electronic transfers, dividend reinvestment, a mutual fund purchase program and account protection.
- Electric transfers—Electronic savings transfer and electronic funds transfer can help you move funds between your accounts easily and automatically. Funds may be transferred between NMIS accounts or to accounts not held at NMIS.
- Dividend reinvestment—Automatically reinvest any dividends paid on your securities. This feature will credit the dividends to your account and then automatically purchase additional shares of the underlying security, if allowed by the issuer of the security.
- Mutual fund purchase program—Establish a regular pattern of investing in mutual funds from your NMIS account. You decide when to invest, which mutual fund(s) to purchase and how often shares are purchased.
- Account protection—NMIS is a member of SIPC (Securities Investor Protection Corporation), which protects the value of securities in customers' accounts up to $500,000 (including up to $100,000 for claims for cash). An explanatory brochure concerning SIPC is available upon request or at www.sipc.org.
In addition, NMIS' clearing firm, Pershing LLC (Pershing) carries excess SIPC insurance coverage. Pershing's excess coverage provides insurance on the net equity of all cash and securities of NMIS customer accounts held on deposit at Pershing. This enhanced account protection is provided through Customer Asset Protection Company (CAPCO), a State of New York licensed commercial insurance company rated A+ for financial strength by Standard & Poor's. Assets held at a custodial institution other than Pershing or other assets "not held" at Pershing are not protected by the excess SIPC insurance policy.
You should carefully consider the investment objectives, risks, expenses and charges of the investment company before you invest. Your Northwestern Mutual Investment Services Registered Representative can provide you with a prospectus that will contain the information noted above, and other important information that you should read carefully before you invest or send money.