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Dr. Jim Grubman of FamilyWealth Consulting is an internationally-recognized consultant, speaker, and educator in the multidisciplinary field of family wealth psychology. He works with affluent families and their advisors to understand the many ways that wealth and life can be integrated successfully.

Using skills developed as a psychologist for nearly 40 years, Jim helps individuals and families work through the natural dilemmas of acquired or inherited wealth. He also teaches, trains, and collaborates with the important advisors in clients` lives. He contributes thought leadership to many areas of wealth psychology, family enterprise governance, and wealth management, both within North America and around the world. He works to promote understanding of what individuals, couples, and families need as they become successful.

Jim's guiding focus is integrating knowledge and skill in service of helping families. The goal - to help those with good fortune achieve their greatest potential.

Strangers in Paradise

How Families Adapt to Wealth Across Generations

Jim Grubman's highly-acclaimed book Strangers in Paradise: How Families Adapt to Wealth Across Generations is based on the groundbreaking insights developed with colleague Dennis Jaffe PhD over the past decade. The book explores in depth how wealthy families arising from modest circumstances can adapt successfully in their parenting, decision-making, estate planning, and business transitions. Grounded in a solid understanding of both human nature and wealth, Strangers in Paradise clarifies how families can work together to prepare the next generation to handle wealth comfortably, confidently, and responsibly.

New: Family Legacy and Wealth Program

Academic Director Position at Molson School of Business, Concordia University, Montreal QB

The John Molson Executive Centre at Concordia University in Montreal has announced the formation of the Family Legacy and Wealth program, with Dr. Jim Grubman as academic director. Jim will also serve as keynote speaker and core faculty for "Cultivating Your Family Legacy," an ongoing series of three-day intensive workshops focusing on family dynamics, governance, and Next Generation development for global families of wealth and family enterprises. Jim is assisting Sandra Nichol, Executive Director for the Molson Executive Centre.

For the next workshop this September, 2016, Jim is pleased to be joined by long-time collaborator Dr. Dennis Jaffe who will be teaching about Next Gen development, communication, and family governance. Visit the Family Legacy and Wealth site for updates and registration.

Cross Cultures

How Global Families Negotiate Change Across Generations

Cross CulturesThe past two decades have seen a dramatic rise in practical recommendations for organizations managing cross-cultural departments and divisions around the world. But what happens when diverse cultures are represented not in different branches of a business but in different branches and generations of a family?  Cross Cultures: How Global Families Negotiate Change Across Generations is the remarkable new book by Dennis Jaffe and Jim Grubman. It provides insight into the growing challenges faced by global families sending children to faraway education and training, often to Western institutions. It also outlines highly practical strategies multicultural business families can use to resolve the resulting conflicts that may threaten the fabric of the family.

 


Understanding HNW Families New to Wealth

In this short video by Sun Life Financial, Jim Grubman explains why advisors need to understand the unique needs and perspectives of those new to wealth, avoiding a “one size fits all” approach. 


Jim Grubman and Dennis Jaffe discuss their concepts with Tharawat magazine

In this short video by the global family business magazine Tharawat, Jim and Dennis touch upon the roles that adaptation and communication play in family enterprises around the world.


   In the News

Family Wealth ReportInterview by Family Office Consultant Joe Reilly

Well-known family office consultant Joseph Reilly, Jr., recently interviewed Jim and Dennis for the industry newsletter Family Wealth Report. The comprehensive interview covers a broad range of topics including the concepts in Cross Cultures and the findings of the Hundred Year Families project.

US Trust: Insights on Wealth and Worth-2016

In their annual "Insights on Wealth and Worth" report, US Trust once again found that 77% - 85% of their multi-millionaire survey respondents came originally from the middle-class or poverty.  US Trust has begun asking in recent years about clients’ economic background in more detail, ever since the Immigrants to Wealth analogy was first described by Grubman and Jaffe. US Trust also discusses in its report how strong values and parenting are influential in forming entrepreneurial success.

       Morningstar Magazine Interview: "Money Talks"

Jim Grubman was interviewed for the April-May 2016 issue of Morningstar Magazine in an in-depth discussion ranging from behavioral finance to the importance of financial literacy education for children. Click on the pdf to read his conversation with Dr. Sarah Newcomb of Morningstar and Hal Hershfield PhD of the Anderson School of Management at UCLA.

On the Money Radio: What's in Store for the Wealth of Future Generations

Steve Pomeranz, of On the Money Radio interviewed Jim a second time regarding the latest concepts in Jim's forthcoming book with Dennis Jaffe, Cross Cultures: How Global Families Negotiate Change Across Generations (publication February 2016). Jim explained the deepening cross-cultural understanding of family enterprises around the world, along with practical advice on how families can reach compromise solutions together when cultural differences arise. 

The New York Times feature article: Looking for Ways to Keep Money from Dividing a Family

Jim Grubman and Dennis Jaffe presented to a packed audience of TIGER21 members about how highly-successful families can handle wealth without dividing the generations. Paul Sullivan, journalist for The New York Times Wealth Matters column, interviewed Dennis and Jim along with several TIGER21 members about the symposium.

On the Money Radio: Discussing the concepts behind Strangers in Paradise

Steve Pomeranz, a United Capital wealth advisor and commentator for the NPR radio show On the Money, interviewed Jim about how wealth transitions influence families. They discussed the dilemmas parents face when raising kids in affluent environments and the personalities of those who dedicate themselves to wealth creation.

Events & Media

STEP/FFI Event: From Strategy to Implementation, New York, NY January 26, 2017

Jim and Dennis will discuss cross-cultural skills for advisors working with global clients as part of a special one-day workshop co-sponsored by STEP and FFI.

Le Club B Global Wealth Conference, Barcelona, Spain November 9, 2016

Jim will be presenting a keynote address on UHNW family wealth to an international family-office-level client audience.

Workshop for Families: FOX Fall Forum, Chicago IL November 2, 2016

Jim and Dennis will present a pre-conference workshop on cross-cultural challenges for global families at the FOX Fall Forum.

Family Firm Institute Annual Conference, Miami FL October 26-28, 2016

Jim will attend the 2016 FFI conference and present the latest concepts on cross-cultural understanding of wealth with colleague and co-author Dennis Jaffe.

John Molson Executive Centre, Concordia University, Montreal, QB September 29, 2016

Jim will be giving the opening keynote and several content sessions for the Cultivating Your Family Legacy program at the Molson Centre.

Sixth Annual PPI Rendezvous, Denver CO July 27- 29, 2016

Jim will once again be attending this year’s gathering of industry advisors and thought leaders to discuss issues in estate planning, family wealth, legacy planning, philanthropy, and stewardship.

TIGER21 presentation on Cross Cultures, New York, NY May 12, 2016

Jim and Dennis presented updates on the Hundred Year Families research and their new book, Cross Cultures, at a New York City meeting of TIGER21.

Book Launch Party, New York, NY May 12, 2016

Dennis and Jim held an event celebrating the publication of Cross Cultures at the offices of Withers Bergman, a global consulting and legal firm in NYC.

Copper Beech Financial Group Client Forum, Scottsdale AZ April 29, 2016

Jim led an active workshop on family dynamics and generational wealth for the clients of a Northeast-based wealth management firm.

Sun Life Financial-International - HNW Wealth Forum, Sydney Australia March 23, 2016

Jim presented to an international advisor audience on cross-cultural issues faced by global HNW families. 

Prenups: Canadian Association of Family Enterprise (CAFÉ) Breakfast Event, Calgary AB. November 5, 2015

Jim discussed the challenges and benefits for families seeking to craft prenuptial agreements in the best way possible. He described relationship issues for couples with differing economic backgrounds and how they can use a fairness model rather than the usual protection model with prenups.

FFI Annual Conference – London, England October 21-23, 2015

Jim attended the Family Firm Institute’s international annual meeting with discussion of the new global cultural model that he and Dennis Jaffe have been developing.

BMO Private Bank: Signature Events September 27 – October 1; November 2 – 5, 2015

Jim presented multiple client events and advisor trainings throughout five Canadian cities for BMO Private Bank. The events were very well-attended with lively discussion and extended periods of Q&A, assisted by Ruth Steverlynck, a family wealth consultant from Vancouver BC.

Fifth Annual PPI Rendezvous August 5-7, 2015

Jim attended the Purposeful Planning Institute Rendezvous again this year in Denver CO. He has attended every Rendezvous since its inception five years ago and enjoyed collaborating with colleagues at this important event.

Sun Life International Global Partners Conference May 6, 2015

Jim presented at a Global Partners event in Toronto about the need for advisors to address the role of culture in families of wealth around the world.

Altair Advisers April 21, 2015

Jim participated on a panel discussion and workshop about "The New Intergenerational Challenge: Caring for Aging Parents" in Chicago, IL. He provided information on understanding dementia and its unique impact in an affluent clientele.