New book for clients shares insights that foster lasting wealth across generations, grounded in Northern Trust Institute research

Northern Trust today announced the launch of Secrets of Enterprising Families, a 300-page book exclusively available to clients, prospects and professional advisors. The book draws from Northern Trust’s 135 years of experience serving many of the world’s most affluent families. Secrets provides insight into the nuances of wealth planning and management for multigenerational families, entrepreneurs, family businesses and others, and comprehensively explores the behaviors and practices essential for optimizing wealth during key phases of life.

“As a confidant and advisor for over a century to enterprising families across several generations, Northern Trust has developed a differentiated and well-researched vantage point on wealth planning and optimization,” Northern Trust Wealth Management President Steven Fradkin said. “The book distills our insights into meaningful guidance aimed at enhancing clients' financial wellbeing and offers a rare peek into the ‘secrets’ and unique strategies that multigenerational families continue using to prepare themselves for life’s most significant moments.”

Secrets of Enterprising Families seeks to empower current and future generations with the confidence and clarity necessary to navigate pivotal moments in life and answers some of the most fundamental and difficult questions such as:

• At what age should I share my estate plan with my family?
• What if I share too much too soon?
• Where do I start?

“Secrets of Enterprising Families rebuffs professional jargon and provides real-life examples of how families have implemented wealth planning and philanthropic strategies in a manner that successfully fosters entrepreneurialism and transfers a growth mindset,” said Pam Lucina, Chief Fiduciary Officer, Northern Trust. “It also answers the ‘how,’ regardless of your starting point. Each chapter of Secrets provides insights on how to approach wealth planning through different chapters of their lives—from marriage and parenthood, to divorce and retirement. I am delighted to see Northern Trust’s unique expertise brought to life throughout the book.”

Key themes addressed within the book include:

• Preparing families to successfully transfer wealth
• Helping executives and business owners address the challenges and opportunities of running, selling and transferring ownership of their businesses
• Developing comprehensive strategies for cash-flow planning and achieving a fulfilling retirement
• Crafting philanthropic and charitable giving plans for current and future generations.

To learn more about Secrets of Enterprising Families, please connect with the media contact provided.

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 $402.5 billion in assets under management as of December 31, 2023. The Northern Trust Company is an Equal Housing Lender. Member FDIC.

About The Northern Trust Institute

The Northern Trust Institute is a research center dedicated to providing affluent families with actionable insights grounded in real-world outcomes. More than 175 experts collaborate to analyze behavioral patterns, identify proven strategies and cultivate feedback, bringing the breadth of our firm’s expertise to each situation.

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, 2023, Northern Trust had assets under custody/administration of US$15.4 trillion, and assets under management of US$1.4 trillion. For more than 130 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 X (formerly Twitter) @NorthernTrust or Northern Trust Corporation 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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