Press release
Northern Trust Expands Global Family Office Services
Family Office Solutions draws on decades of successfully serving ultra-high-net-worth clients and family offices CHICAGO--(BUSINESS WIRE)-- Northern Trust
About this update from Northern Trust Corporation
[{"type":"text","content":"\nFamily Office Solutions draws on decades of successfully serving ultra-high-net-worth clients and family offices\n\n CHICAGO--(BUSINESS WIRE)--\nNorthern Trust Wealth Management is expanding its family office suite of services by launching Family Office Solutions, a new offering designed to provide ultra-high-net-worth families with customized financial and wealth management services without requiring a standalone office.\n\nThis approach represents the latest chapter in Northern Trust’s award-winning history of serving the most affluent individuals and families, including 30 percent of the Forbes 400 list of wealthiest Americans. Family Office Solutions will reside within Northern Trust’s Global Family and Private Investment Offices (GFO) practice, to allow wealthy families to seamlessly coordinate their financial lives while having access to institutional-grade investment and family office services.\n\n“We are seeing a growing number of ultra-high-net-worth families who may not want a single-family office, but whose needs very much align with what a family office can deliver,” Northern Trust Wealth Management President Jason Tyler said. “Our Family Office Solutions group will serve these clients with bespoke solutions that blend institutional-caliber investment capabilities with the personalized service and strategic oversight of a family office.”\n\nPam Lucina, a veteran financial services executive, will lead Family Office Solutions. Previously, Lucina served as Northern Trust’s Chief Fiduciary Officer and spearheaded the creation of The Northern Trust Institute, where more than 175 Northern Trust experts collaborate to study the financial, emotional and psychological aspects of wealth transfer and identify strategies that help clients thrive over generations.\n\n“Alongside a surge in new wealth creation, families have encountered more demands and complexity in managing their financial affairs, reflecting demographic and generational changes,” said Lucina. “We are making sophisticated services more accessible to a broader range of families, where we provide all the advantages of a family office without the overhead and commitments of maintaining an in-house team.”\n\nNorthern Trust’s Family Office Solutions combines high-touch support with an array of capabilities driven by family needs spanning wealth planning, legal and ...