What's in a Name?

I find it interesting to know the origin of company names. While it’s true they are sometimes just made-up words (like Häagen-Dazs), oftentimes they actually tell you something about the vision of the company (Nike is the name of the Greek goddess of victory), its product and services (Coca-Cola is made from coca leaves and kola nuts), or its key people (Adidas derives from the name of its founder Adolph ‘Adi’ Dassler).The name Northwood actually has an interesting origin as well. It is based on the three benefits we want to add to the lives and financial affairs of our client families – direction, perspective and confidence.

Direction

The first part of our name – ‘North’ – evokes a picture of a compass, with the needle pointing north. Our experience is that if a person knows their ‘north point’ – in other words, if they have thought through what is most important to them and their family, their principles, their goals, and what they really believe in – they are less likely to get lost on their way there. All other decisions become easier and make more sense when you have truly understood what is ‘north’ for you. We help our clients do this, and thereby, get Direction.

Perspective

The second part of our name evokes a picture of a ‘wood’ or a forest. Most people’s financial lives are made up of a collection of standalone advisors and products, such as tax, investment, insurance, philanthropy, and legal structures, among others. Because these areas are often kept separate, like individual trees in a forest, the clients are often faced with making ‘one-off’ decisions that don’t necessarily fit in with the whole picture. We help our clients avoid missing the proverbial ‘forest for the trees’, and thereby, gain Perspective.

Confidence

A clear understanding of your Direction (knowing what ‘north’ is for you) and a good sense of Perspective (not missing the ‘forest for the trees’), leads to a sense of Confidence – the confidence that you have a sensible plan, you have made the best decisions you can, and things are well looked after.This is our name and our promise!