A trend of financial professionals becoming their own bosses, breaking away from large firms to go independent, drives a need for coaching advice, Northwestern argued.

US-based Northwestern Mutual has acquired a majority stake in ClientWise, a coaching and consulting firm working with financial professionals.

The size of the investment wasn’t disclosed.

Under terms of the transaction, ClientWise, led by founder and chief executive Ray Sclafani, will continue to operate as an independent firm, while partnering with Northwestern Mutual to coach, develop and grow the businesses of Northwestern Mutual's financial advisors, Northwestern said in a statement this week.

A trend of financial professionals becoming their own bosses, breaking away from large firms to go independent, drives a need for coaching advice, Northwestern argued.

Scalfani of ClientWise added: "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.”

Northwestern’s move follows its 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 the transaction.