Northern Trust Expands Global Family Office Services
Family Office Solutions draws on decades of successfully serving ultra-high-net-worth clients and family offices
This 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.
“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.”
Pam 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.
“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.”
Northern Trust’s Family Office Solutions combines high-touch support with an array of capabilities driven by family needs spanning wealth planning, legal and tax, accounting and finance, investment, banking, insurance and philanthropy.
“With over four decades of serving the most sophisticated family offices in the world, we know their needs vary in form and scale,” said GFO President Dino De Vita. “This expanded offering allows us to provide a full continuum of services and effectively meet the diverse, multigenerational needs of families, whether that is supporting established family offices or providing a bespoke service that aligns with their goals.”
Northern Trust Wealth Management offers holistic wealth management services for affluent individuals and families, family offices, foundations and endowments, and privately held businesses. It is recognized for its innovative technology, service excellence and depth of expertise, with
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in
Northern Trust Corporation, Head Office: 50 South La Salle Street,
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Source: Northern Trust Corporation
