Northern Trust is partnering with Greenlight Financial Technology in an effort to help families the build healthy financial futures.
Northern Trust clients now have complimentary “access to Greenlight’s family finance app and debit card, available through the Greenlight for Banks program.”
Research conducted by the Northern Trust Institute found “that 79 percent of high-net-worth families have provided their children with access to financial education, but nearly half (48 percent) are still concerned for the preparedness of the next generation to manage wealth.”
Similarly, nationwide testing by “the National Financial Educators Council revealed that teenagers, with an average score of 64 percent, lack the basic financial knowledge they need to make qualified financial decisions.”
Matt Wolf, Senior Vice President of Business Development at Greenlight, said that partnering with financial institutions helps his firm serve more families.
Northern Trust Wealth Management offers various wealth management services “for affluent individuals and families, family offices, foundations and endowments, and privately held businesses. Currently the firm reports $419.4 billion in assets under management.