After more than 30 years at Northwestern Mutual, a Milwaukee-based financial advisory firm, John Calvert joined Socium Advisors – a private client group of Northwestern – as partner.

Operating from Socium’s Sawtelle office, Calvert will not only bring his expertise in the wealth management space, but also a whopping $400 million in assets under management from his current clients.

This addition will take the firm’s total assets to $2.2 billion.

Socium’s affiliation with Northwestern – which manages nearly $700 billion in assets and $2.4 trillion worth of life insurance protection – was key for Calvert joining.

Being able to still utilize Northwestern’s resources including its risk products, coupled with Socium’s diversity of practice areas and collaborative team culture, made the move a win-win, Calvert said.

Working on estate planning

Part of Calvert’s focus right now is an evolving landscape for estate/legacy planning, in which clients are “planning much earlier and more intentionally than in the past,” he said.

“It’s no longer just about passing on wealth at the end of life; it’s about aligning that wealth with (clients’) values to support their family now, while also setting clear boundaries to ensure financial independence,” Calvert said.

A similar shift is being seen with strategic exits as well, according to Calvert, who said he is seeing clients planning exits much earlier than in the past “or positioning their companies to be acquisition-ready from day one.”

Another reason Calvert was drawn to Socium was its specialty of multi-generational wealth planning tailored to clients’ charitable giving goals.

“When working with clients in this demographic, an individualized, multi-generational comprehensive financial plan that includes legacy, estate and charitable planning is necessary to preserve wealth,” Calvert said.