Johnson Financial Group’s story began in the mid-1900s with a young industrialist named Wallace E. Carroll, who started a manufacturing company. Through hard work, commitment and integrity, Wallace grew his small company into a global conglomerate that included an airline, railroad, and insurance company, as well as 80 manufacturing companies.

As the business grew, so, too, did his family’s financial complexities. Wallace responded by creating an office to manage his family’s investments, land holdings, accounting, philanthropy, and other family needs. However, as time went on, the family struggled with communication and expectations around the family’s transfer of wealth.