Northern Trust Expands Global Family Office Services

Family Office Solutions draws on decades of successfully serving ultra-high-net-worth clients and family offices

Northern 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.

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 $450.7 billion in assets under management as of December 31, 2024. The Northern Trust Company is an Equal Housing Lender. Member FDIC.

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 Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2024, Northern Trust had assets under custody/administration of US$16.8 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

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