Joshua Waite
Courtesy of Northwestern Mutual
Name: Joshua Waite
Firm: Waite Financial Group / Northwestern Mutual
Location: Peoria, IL
Total Value of Policies: $1.1 billion
Background: Joshua Waite grew up in a small farming town outside Peoria, Illinois—just a mile from the family farm where his grandfather, one of his childhood heroes, helped shape his values of hard work, humility, and integrity. After earning a finance degree from nearby Bradley University, he joined Northwestern Mutual in 2003, where his father had long been a policyholder. Although he describes himself as a natural introvert, Waite found success in sales by asking thoughtful questions and listening carefully—traits that aligned well with a planning-first approach. He earned his CFP designation within a year of graduating and has focused on comprehensive wealth planning ever since.
Building Relationships: Waite began by serving young professionals in Peoria, many of whom worked at Caterpillar, the city’s largest employer. Over time, his client base evolved to focus heavily on Caterpillar executives—first during their careers and later into retirement. Today, his firm includes 16 team members and serves over 750 clients, with about 80% tied to Caterpillar in some way and the rest comprising physicians and other high-income professionals. His business partner, a CPA and former executive at Caterpillar, brings insider knowledge of the company’s compensation and benefits, giving the team a unique edge in working with this niche.
Competitive Edge: Deep connections to nearby $65 billion (sales) Caterpillar Inc, including intimate knowledge of its compensation structure. Waite also instills a firmwide mission of helping clients live more intentional and generous lives. This philosophy stems from personal experience—his father passed away from pancreatic cancer just a year after Waite graduated college. “It changed my perspective,” he says. “Money is important, but time is our most valuable resource.”
Investment Philosophy/Strategy: “Behavioral coaching is more powerful than trying to predict the market,” says Waite. “The number one driver of investor performance is behavior.” His team favors diversified portfolios built largely around low-cost index funds, and they incorporate insurance and annuities where appropriate. He often compares insurance to a home’s foundation—unseen, but critical. “Most people focus on the design or paint color—that’s the investments,” he says. “But without a solid foundation, nothing holds.” Disability and life insurance are typically addressed early to ensure the broader financial plan is secure.
Best Advice: Says Waite. “Many retirees have trouble shifting from saving to spending, but we remind them—money is just a tool to help you spend more time with the people you love. That’s what matters most.”
Forbes
