Northwestern Mutual

  • Wealth Management Advisor

    Paul Baboolal

  • Address

    1230 Rosecrans Ave., Suite 100
    Manhattan Beach

  • Phone

    310-460-7140

  • Website

    paulbaboolal.com

  • Special Section

    Trusted Advisors

Above: L to R: Andra Phillips, Investment Analyst; Paul Baboolal; Liz Hernandez, Client Service Representative

•••

Paul Baboolal is a wealth management advisor at Northwestern Mutual Manhattan Beach with more than 30 years of experience. He partners with successful estate attorneys, business owners, commercial real estate developers, CPAs and South Bay families to assist them with their financial goals. Paul started his career with Northwestern Mutual as a college intern in 1992 and began working full-time upon graduation from UCLA. He is a 12-time member of the Northwestern Mutual Forum, an annual recognition of the firm’s top advisors.


What is your advice for building, maintaining and growing client relationships?

No one should advise you without first listening to you. Our rule of thumb is to always understand our clients’ goals, objectives and circumstances before creating a plan. Additionally, a trusted advisor should be able to acknowledge, prepare and manage expectations for challenges that you may encounter, such as current market conditions, rather than trying to sell you on superficial solutions that won’t weather the storm. A trusted advisor should be invested in your growth and rooting for your success.


What is the key to earning the trust and confidence of clients?

One of the main reasons our clients trust us is because we establish long-term relationships from the beginning. Our financial plans are meant to last for decades, and we remain an active part of the plan’s evolution as a client encounters significant life changes. We are always transparent in what we are trying to achieve, and we do what we say we are going to do. Up front, we make our recommendations and our process as clear as possible.


What is the most popular service you offer?

We offer simplified, comprehensive financial planning that is designed to be easily digestible. Our specialty is taking a complex financial picture and making it actionable and understandable for our busy clients. It’s our job to alleviate financial fear and make sure that our clients’ money is working hard for them so they can focus on the things that are truly important. 


What attributes does the ideal client have?

Our ideal client shares our family values, appreciates advice from trusted professionals and is seeking a long-term financial partnership—not just a one-time transaction. We have many of the same concerns as our clients, so we know what it’s like to be in their shoes, raising kids, running a business and being active in the South Bay community. We plan for our clients the same way we would plan for our friends and family. 


How has your role spread beyond traditional professional services?

Not only can our team create solutions for a wide array of financial concerns, but we have intentionally built a network of local professionals in other areas, such as estate planning attorneys and CPAs, who can help serve our clients’ needs as a supplement to the plan we’ve established. This means our services do not stop with our clients’ financial lives but extend to address their greater needs. We also live and work in the South Bay ourselves, and we understand our clients’ mindset of working hard while enjoying our beautiful environment.


In what ways is the business model of your firm unique?

Our planning strategy is comprehensive and holistic. Our philosophy is that you cannot execute effective financial strategy without considering all pieces of the puzzle. Other firms tend to focus on either asset accumulation or defensive planning, but we are unique in that we can speak fluently about both, with an emphasis on effective distribution planning. 


What financial lesson did you learn when you were young that still applies today?

At a very young age, I learned about the importance of planning for the “what ifs” in life. When my mother was only 2 years old, her father passed away, leaving my grandmother to raise three young children by herself and forcing her to become the breadwinner of the family. Because their home had been fully paid off, my grandmother was saved from financial ruin. Now, I help my clients brace for the unexpected and protect their families, no matter what life throws at them. 


In what ways does your firm make our community a better place?

We feel that it is a privilege to give back to our community. As partners of the Hermosa Beach Education Foundation, Manhattan Beach Education Foundation, the Hermosa Beach Little League and childhood cancer, we are focused on improving the lives of future generations, especially when it comes to financial literacy. Giving young people the gift of a financial education will set them up for success in the future.


Disclaimer: Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM) (life and disability Insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries, including Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance), Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), a registered investment adviser, broker-dealer, and member of FINRA and SIPC, and Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and trust services), a federal savings bank. NM and its subsidiaries are in Milwaukee, WI. Paul Baboolal is an Insurance Agent of NM and NLTC. Investment brokerage services provided as a Registered Representative of NMIS. Investment advisory services provided as an Advisor of NMWMC.