Northwestern Mutual coming to downtown Cedar Rapids

Northwestern Mutual announced late last week that it will move its Hiawatha office to a new Cedar Rapids location in June of this year.

In considering their relocation, the company wanted to have space for future expansion in order to meet the needs of a growing customer base.

'We are in a high growth mode and we need to attain a space not only for our current needs, but also the needs we'll grown into,” said Scott Zach, managing partner of Northwestern Mutual in Eastern Iowa, Western Illinois and Northern Missouri.

The company recently signed a 10-year lease for about 10,000 square feet at the Hach Brother's Building at 401 First St. SE in Cedar Rapids.

They wanted a historical location within Cedar Rapids' business community. Originally a wagon factory built in 1899, the Hach Brother's Building meets these expectations.

'We love what's happening in that area,” said Zach, 'We want to be a part of the rebirth of the downtown.”

Northwestern is also looking to use their location to reel in employees from a younger demographic.

'If you take a look at the new generation coming out of college ... they like a more urban setting,” Zach said, explaining that the downtown location 'will allow us to attract the future professionals that we want to attract.”

The relocation will bring about 35 financial representatives from Hiawatha to the downtown Cedar Rapids location. Northwestern Mutual also will look to hire six new financial representatives and around 15 new interns.

Northwestern Mutual reports seeing an increased demand for personalized financial planning both nationally and locally.

'Although people feel better than they did a year ago, there's still a lot of uncertainty about where the economy is going,” Zach said, adding that two out of three Americans don't have a financial plan in place and seven out of ten don't have financial advisers.

Northwestern Mutual will officially move into their new office space on June 1 of this year.