Strategies for Your Family Business
Family-owned businesses are intrinsically complex. Issues such as succession planning, structuring a board of directors, establishing risk management protocols or selling the company are complicated by the dynamics of dealing with family members who have entrusted their most important asset to your stewardship.
Northern Trust has more than 100 years of experience working with family businesses, providing management and strategic solutions for closely held corporations of all types, sole proprietorships and general and limited partnerships.
We offer a wide range of fiduciary services, including:
- Performance and transition management
- Valuations
- Succession planning
- Legal and/or tax status conversions
- Assistance in the sale of business entities or interests
Should your family business become a family enterprise due to its sale, count on Northern Trust to seamlessly handle the shift in focus, taking into consideration the collective needs of family members as well as new investment opportunities made possible by aggregating various family enterprise funds.
Working with you and your other advisors, we take a holistic approach to accurately assess how we can best serve you. Whether you are seeking professional advice or assistance with a family business issue, experts in our Family Business Services group will help you effectively and efficiently find the right solution.
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Daniel Barron |
Daniel Barron
Dan joined Northern Trust as an officer in 1983, was named a second vice president in 1986, a vice president in 1990 and senior vice president in 2007. Prior to joining the bank, he was a trust officer with Sears Bank and Trust Company, Chicago.
Dan received his B.A. degree from Knox College in Galesburg, Illinois, and his M.M. degree from the J.L. Kellogg Graduate School of Management at Northwestern University. He has also been granted the Accredited Senior Appraiser designation for business valuation by the American Society of Appraisers.