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Wealth Planning Outlook: Renewed Purpose
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"Wealth Planning Outlook: Renewed Purpose"

Northern Trust Advisory Services has developed forward-looking perspectives on wealth planning for business owners, executives, multi-generational families and other wealth owners.

In the introduction to last year’s outlook, we wrote that 2020 “sees us preparing for the unknown.” In hindsight, this observation was prescient beyond our intended meaning: As the world grappled with the pandemic, the year was characterized by a staggering human toll and economic upheaval. Against this backdrop, the country experienced a divisive presidential election and a renewed outpouring of support for social justice. In a fittingly dramatic conclusion to 2020, vaccines were created in record time, turning the world’s attention to navigating a new, altered course in the year ahead.

It is this change that we navigate in our 2021 outlook:

  • What are the near- and longer-term impacts of what we have experienced?
  • How have our values and missions been shaped?
  • Where will we focus going forward?

In many instances, we will be answering these questions for years to come — and challenges run deep. Yet broadly, as we compiled our outlook, we found ourselves arriving at a consensus: The coming year holds unique promise and, as in other pivotal times in history, we are likely to emerge more united, wiser and with renewed purpose.

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