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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: Cultivating Your Family Legacy Program

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

The John Molson Executive Centre at Concordia University in Montreal is supporting the Cultivating Your Family Legacy program, with Dr. Jim Grubman as academic director. Jim helps lead the three-day intensive workshops focusing on family dynamics, governance, and Next Generation development for global families of wealth and family enterprises.

For the September, 2016, series, Jim was pleased to be joined by long-time collaborator Dr. Dennis Jaffe as well as Canadian consultants Rilla Clark and Malcolm Burrows on topics related to leadership skills assessment, philanthropy, and communication within families. 

Visit the Cultivating Your Family Legacy website for updates and registration for 2017 programs.

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

Copper Beech Financial Group Client Forum, Scottsdale AZ May 6, 2017

Jim returns for a second year to this client event for an in-depth workshop on family dynamics and generational wealth.

Workshop for Families: FOX Global Forum, Palm Beach, FL March 3, 2017

Jim and Dennis will lead an intensive workshop on cross-cultural aspects of global family wealth at the FOX event at the Breakers in Palm Beach.

STEP Event on Governance: From Strategy to Execution, New York, NY January 26, 2017

Jim and Dennis will discuss practical tips for attorneys and advisors working with clients from different cultures as part of a daylong special STEP event.
 

Le club b Global Wealth Conference, Barcelona, Spain November 10, 2016

Jim gave a well-received keynote presentation on cross-cultural aspects of UHNW global family wealth to an international client audience.

Special November 2016 JFP Cover Article Published November 7, 2016

In a special Journal of Financial Planning issue on trust and communication, Jim and Dennis' article on "Becoming a Culturally Intelligent Advisor" was featured as the cover article. They were also invited to lead a webinar on the content on December 2 for FPA members.

RayLign Tenth Anniversary Event, New York, NY November 2, 2016

Jim was honored as one of the Stars of Family Dynamics at a unique event sponsored by Greenwich, CT-based RayLign to recognize its ten years as a consultancy firm. Jim also gave a tribute to long-time colleague and pioneering family wealth psychologist G. Scott Budge who passed away in late September. See this link for event highlight videos.

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

Jim attended the 2016 annual FFI conference including participating as a session host, presenting the latest concepts on cross-cultural understanding of wealth with colleague and co-author Dennis Jaffe, and being a member of the keynote panel opening the Research and Academics day.

Harvard Business School: Families in Business Program, Cambridge, MA October 9 -14, 2016

Jim was invited to be a guest facilitator and lecturer at the esteemed HBS Families in Business program for global family enterprises, now into its 20th year. During the weeklong intensive program, Jim presented information on family communication and raising children with wealth to over 80 family members from around the world, led by senior HBS faculty member John Davis. 

Concordia University: John Molson School of Business, Montreal, QB. September 29, 2016

Jim led a very successful multi-day program for the new Cultivating Your Family Legacy program for UHNW families.  

Sixth Annual PPI Rendezvous, Denver CO July 24-29, 2016

Jim attended 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.

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

Jim led a successful workshop on family dynamics and generational wealth for the clients of a New Jersey-based multi-family office.

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 HNW families around the globe, especially in Asia. He also participated in a panel discussion on the impact of global changes in transparency for family enterprises in various cultures.