The new office will cater to the comprehensive investment and sophisticated planning needs of families, family offices and foundations in Northeast Florida.
The firm currently has 20 offices, over 600 employees and $53bn in assets under management in the state.
Northern Trust Wealth Management East Region president Henry Johnson said: “Opening this office affirms our long-term commitment to the families and foundations in Northeast Florida, while also positioning us to better serve additional clients in the future.
“We look forward to participating as an engaged member of the Jacksonville community.”
Northern Trust Wealth Management caters to wealth management services for affluent individuals and families, family offices, foundations and endowments, and privately held businesses.
Enhanced front office solutions platform
Separately, Northern Trust augmented the Investment Analysis module of its Front Office Solutions platform to help enhance decision-making process for institutional investors managing sophisticated portfolios, including alternative investments.
The Investment Analysis tool enables allocators to conduct data analysis across current, prospective and historical investments in addition to offering customisation capabilities, such as the ability to combine multiple analyses into a single view.
The enhancements to the web-based tool are said to provide unified capability to complex asset allocators through increased data capacity, faster speed and greater flexibility and visualisation for custom reporting.
Northern Trust Front Office Solution head John Turney said: “Multi-asset class investors have complex investments that require resources and time to evaluate and monitor.
Our Investment Analysis tool provides allocators with a holistic view of their portfolios, across both liquid and alternative asset classes, delivering advanced data analytics that allow them to focus on due diligence to support their investment strategies.”