Roger, a partner with a major law firm, came to us because he and his wife, Sylvia, were struggling to fully understand their current financial situation. They understood very little about his company retirement plans, were concerned they were spending too much, and wanted to build a new vacation home.
The Northern Trust Advisory Team started by reviewing Roger and Sylvias expenses with them. The team helped them establish their income goal, which segued into a discussion around what retirement really meant to them. From this dialogue the team learned the specifics around the vacation home, worked with their outside advisors to have it properly titled and insured from a personal liability perspective.
After creating a summary of Rogers company benefits, the team discovered that he wasnt sufficiently covered from a disability perspective. The team used this information to help him find the proper policy to supplement the coverage he maintained at work.
Value of an Integrated Approach:
Roger and Sylvia have a clear understanding of their spending habits and retirement needs. Northern Trust has continued to work with them over the years and they now use many of our investment, estate planning and trustee services.
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