Northern Trust is partnering with Greenlight® Financial Technology, Inc. (“Greenlight”) to better serve families and help the next generation build healthy financial futures. Northern Trust clients now have complimentary access to Greenlight’s award-winning 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.

“Knowledge becomes skill through practice. In addition to families talking openly and honestly about finances, children need hands-on money management experience to prepare them for a lifelong journey of financial responsibility,” said Pam Lucina, Chief Fiduciary Officer for Northern Trust. “The best way to instill the habit of saving money and making wise spending choices is to intentionally create teachable moments.”

Northern Trust’s partnership with Greenlight will provide clients with more of these teachable moments, in which families can build smart money habits together and equip the next generation to steward wealth responsibly. Greenlight’s platform teaches children how to earn, save, give and spend wisely – all with parental supervision. Northern Trust clients can receive a free Greenlight SELECT plan subscription by registering through a dedicated landing page.

“Partnering with leading financial institutions across the country helps Greenlight serve even more families with best-in-class financial education,” said Matt Wolf, Senior Vice President of Business Development at Greenlight. “Alongside Northern Trust, we’ll be able to have a huge impact on improving financial literacy for the next generation.”

Recently, Greenlight Co-Founder Johnson Cook appeared as a guest on “The Road to Why,” a podcast focused on business owners hosted by Eric Czepyha, Director of Business Services at Northern Trust. Cook and Czepyha discussed how normalizing conversations about finances creates an environment where children feel comfortable asking questions and gain valuable experience.

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 $419.4 billion in assets under management as of June 30, 2024. The Northern Trust Company is an Equal Housing Lender. Member FDIC.

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 June 30, 2024, Northern Trust had assets under custody/administration of US$16.6 trillion, and assets under management of US$1.5 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.

About Greenlight

Greenlight Financial Technology is the family fintech company on a mission to help parents raise financially-smart kids. Its product, Greenlight, is an award-winning banking app, complete with a debit card for kids and teens and safety features for the whole family. Parents can automate allowance, manage chores, set flexible spending controls, and invest for their family’s future. Kids and teens learn to earn, save, spend wisely, give, and invest. Together, families can also stay safe and connected with location sharing, SOS alerts, crash detection with 911 dispatch, driving scores, reports and real-time trip alerts.

Greenlight partners with more than 75 leading banks, credit unions, and employers to bring its family finance solution to more families through the Greenlight for Banks, Greenlight for Credit Unions, and Greenlight for Work programs.

The Greenlight Debit Card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International. Greenlight Investment Advisors, LLC, an SEC Registered Investment Advisor, provides investment advisory services to its clients. Investing involves risk and may include the loss of principal. Greenlight is a financial technology company, not a bank. The Greenlight app facilitates banking services through Greenlight's bank partners. For more information, please visit: greenlight.com.

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