Dr. Jim Grubman is an internationally recognized consultant to families of wealth, family enterprises, and the advisors who serve them. His work with clients at many levels of affluence has earned him a global reputation for thought leadership within the field. Whether facilitating a family meeting or training advisors in the complexities of wealth, he draws on his deep knowledge of psychology, family dynamics, and family business, with specialty interests in trusts and estates law and family governance. His goal: to help integrate life and wealth for the benefit of the family and society.
Lifetime Achievement Award Honor
Dr. Jim Grubman Presented with Top Award by Family Wealth Report
The 2024 Family Wealth Report Awards presented Dr. Grubman with its Lifetime Achievement Award at the black-tie ceremony in New York City in May of 2024. Jim’s decades of experience in the wealth management field were honored for his thought leadership and innovative work in advancing the field. This award follows Jim’s prior award in 2021 (with Dr. Dennis Jaffe) for Outstanding Contribution to Thought Leadership for their constant advocacy of family dynamics, family governance, advisor skills training, and the family’s needs in wealth management.
New & Notable
Wealth 3.0 Article Focuses on Legal Services
Trusts & Estates magazine published a third major article discussing the tenets of Wealth 3.0, focusing on the unique skills and procedures that attorneys must have when working in an UHNW or family office system. Authored by Jim Grubman with renowned attorney Kim Kamin, “How to Be a Wealth 3.0 Attorney” addresses the many questions that lawyers have about collaborating in a team environment.
Prior articles include “Wealth 3.0 in Practice” from 2023 and the inaugural article “Wealth 3.0: From Fear to Engagement for Families and Advisors” published in 2022.
There is No 70% Rule – A Critique of Williams and Preisser
The wealth management industry has consistently cited the “70% global failure rate of wealth transitions” put forth by Roy Williams and Vic Preisser since the 1990s. In this International Family Offices Journal article, each citation for this assertion is tracked back to original sources, finding the “rule” was built on a single study from the 1980s that was superseded by better research decades later. The article also critically reviews Williams and Preisser’s own research on the supposed causes of these family failures. Recommendations are outlined for truly learning about family wealth longevity in the modern era.
Upbeat Interview in Canadian Family Offices Online
Canadian Family Offices, a respected online magazine for the family office industry, published a comprehensive interview of Jim Grubman (available here) covering his history in the industry, his perspectives on where the family advising field may be going, the cultural models of wealth he and Dennis Jaffe developed, and the remarkably positive futures that are possible for families of wealth.
The UHNW Institute – Leadership Position
Jim serves as Chair of the Content and Curriculum Committee in the nonprofit think tank, The UHNW Institute. Among other initiatives, he helped spearhead the development of The Ten Domains of Family Wealth, a groundbreaking model for organizing the various needs and service areas UHNW families have. Jim also helps maintain the Institute’s Resource Library, plans events and activities, and leads a committee of domain chairs specializing in each of the major service areas of family wealth.
Events & Activities
Global Webinar for Independent Advisors
at Virtual EventFebruary 4, 2025Following a successful event in 2022, Jim will be returning for a second webinar for the Global Association of Independent Advisors (GAIA) on themes of family wealth and future trends
Daylong Workshop at Cornell Family Office Program
at New York NYJanuary 29, 2025Jim will be leading a workshop and moderating a panel at the RSM Tony Wood Family Office Institute, sponsored by the Smith Family Business Initiative at Cornell University. Topics will
Family Office Webinar for Chicago Bar Association
at Virtual EventDecember 19, 2024Jim was invited to speak before the first-ever family office committee of the Chicago Bar Association about the complex ecosystem that is UHNW services for clients. Facilitated by attorney Nicholas
Schwab IMPACT Conference Presentation
at San Francisco, CANovember 20, 2024Jim co-presented on the Ten Domains of Family Wealth with Paul Ferguson of Schwab Family Office Services at the multi-day IMPACT Conference. The well-attended presentation detailed some of the options
The UHNW Institute Annual Symposium – 2024
at New York NYNovember 13, 2024 - November 14, 2024Jim led an interactive in-depth training on the Ten Domains of Family Wealth during the first afternoon, accompanied by colleagues Stacy Allred and Tom McCullough, at the third annual UHNW
Prestigious FFI award announced
at London, England, UKOctober 25, 2024The Family Firm Institute bestowed its top practitioner award for 2024 – the prestigious Richard Beckhard Practice Award – on Jim Grubman at the fall FFI Annual Conference in London,
Repeat appearance at client events for Montreal bank
at Montreal QCOctober 3, 2024Jim returned for a third year to discuss integrated family wealth management for UHNW clients at Financiere Banque Nationale, focusing on legacy and communication skills.
In The Media
Podcast with Family Office Exchange
Jim Grubman is interviewed by FOX CEO Peter Moustakerski about the book Wealth 3.0: The Future of Family Wealth Advising and how its positive approach dovetails well with FOX’s training and consulting activities. Listen here on FOXCast.
The Inheritance Podcast with Joe Reilly
In Joe Reilly’s inaugural podcast in a series on the nonfinancial aspects of UHNW family wealth, he interviews Jim Grubman and Dennis Jaffe on their long-term perspectives about different generations of wealth. Listen here on Apple Podcasts for a warm, engaging conversation.
The Rational Reminder Podcast
One of the best podcasts from 2023. Cameron Passmore and Ben Felix of The Rational Reminder share a wide-ranging engrossing conversation with Jim Grubman about the psychology of wealth, parenting, Wealth 3.0, and related topics. Listen to the podcast or watch the video here.
Books
Wealth 3.0
The Future of Family Wealth Advising