The institute will focus on specific strategies to help clients deal with issues such as multigenerational families, retirement, small business ownership, and major life changes like divorce or the death of a spouse.
The institute's faculty and directors' expertise spans more than 34 areas, including investment management, advisory, fiduciary, banking, family education and governance, philanthropy, tax strategy, business advisory, cybersecurity and divorce. They will analyze data to establish behavioral patterns and historical outcomes to develop insights and solutions that can help guide Northern Trust Wealth Management advisors in their interactions with clients, according to a company statement.
“The Northern Trust Institute will provide best-in-class strategies and insights informed by the real experiences of our clients,” Pamela Lucina, chief fiduciary officer and head of the Trust & Advisory Practice, said in a statement.
Northern Trust Wealth Management provides wealth management services for affluent individuals and families, family offices, foundations and endowments, and privately held businesses. Its advisors collectively manage more than $276 billion in client assets.