Northwestern Mutual Makes Strategic Investment in Advisor Coaching Firm, ClientWise

Firms will partner to provide Northwestern Mutual's financial advisors with consulting and practice management resources to drive growth and best practices

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Northwestern Mutual

Jan 09, 2018, 08:00 ET

MILWAUKEE, Jan. 9, 2018 /PRNewswire/ -- Northwestern Mutual announced today that it has become a majority investor in ClientWise, a premier business and executive coaching and consulting firm working exclusively with financial professionals. ClientWise, led by founder and CEO Ray Sclafani, will continue to operate as an independent firm, while partnering closely with Northwestern Mutual to coach, develop and grow the businesses of Northwestern Mutual's financial advisors.

"As people live longer and confront more complexity in their financial lives, we are committed to helping them achieve financial security through our whole picture planning approach which combines insurance and investments," said Greg Oberland, president, Northwestern Mutual. "As more of our advisors build their wealth management practices, we want to ensure they have the strategic and operational resources they need to excel in serving their clients and running their businesses. Our investment in ClientWise, which has a strong track record of success in coaching advisors to grow and advance their practices, allows us to bring this expertise to more of our team, while also supporting ClientWise in growing its own industry presence."

Northwestern Mutual's investment will enable ClientWise to embark on next-level strategic growth itself, including continuing to innovate and develop practice management tools and resources, and allowing it to create scale to provide value to more leading financial professionals and their firms, and support best practices in the advice industry at large.

"Northwestern Mutual's financial advisors stand at the epicenter of a number of important trends, including growing demand for professional financial advice alongside a digitally-driven client service experience," said Ray Sclafani, ClientWise CEO and founder. "The advice landscape presents clear opportunities and near-term challenges, including the need to optimize firm operations, build scale and instill best practices so that advisors can deliver advice across their client base. We are excited to partner with Northwestern Mutual to support their financial advisors as they tackle these challenges, help their clients make financial decisions with confidence, and build enterprise value for their firms."

This announcement is a continuation of Northwestern Mutual's efforts to invest in and partner with innovative firms to bring greater value to its financial advisors and clients. It follows the acquisition of LearnVest in 2015, and the subsequent launch of the Northwestern Mutual Future Ventures Fund for strategic investing.

Silver Lane Advisors acted as financial advisors to ClientWise for this transaction.

About ClientWise
ClientWise is the premier business and executive coaching and consulting firm working exclusively with financial professionals. We specialize in helping clients optimize growth and maximize revenue by engaging as a knowledgeable partner in accomplishing specific and significant business results. Our full-service coaching programs empower financial advisors, wholesalers, managers and executives to enhance performance through customized, action-oriented solutions based on each client's specific vision and situation. Drawing from an in-depth knowledge of the financial industry, ClientWise's mission is to professionally develop industry leaders and consistently raise the bar for industry service.

About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for 160 years. Through a distinctive, whole-picture planning approach including both insurance and investments, we empower people to be financially confident. We combine the expertise of our financial professionals with a personalized digital experience to help our clients navigate their financial lives every day. With $250.4 billion in assets, $28.2 billion in revenues, and more than $1.6 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.4 million people who rely on us for life, disability income and long-term care insurance, annuities, brokerage and advisory services, trust services, and discretionary portfolio management solutions. The company holds more than $100 billion of client assets as a part of its wealth management company and investment services. Northwestern Mutual ranks 97 on the 2017 FORTUNE 500 and is recognized by FORTUNE® as one of the "World's Most Admired" life insurance companies in 2017.

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, life insurance with long-term care benefits, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (securities), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (fiduciary and fee-based financial planning services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance).

(Not all Northwestern Mutual representatives are advisors.)

SOURCE Northwestern Mutual