Family Consulting

Wealth can be a wonderful relief from the many hardships of life. It is what most people aspire to achieve, thinking that life will be completely happy once money is no longer an issue.  In reality, becoming or being wealthy is often a mixed blessing. It complicates relationships and identity, and it requires fundamental changes in parenting to maintain success across generations. Some of the most common issues for wealthy couples or families include:

  • Raising responsible children with wealth
  • Coping with sudden or significant increases in wealth
  • Coming to grips with inherited wealth, which may feel unearned or undeserved
  • Establishing better patterns of decision-making within the family
  • Resolving conflicts within couples when partners come from different economic backgrounds
  • Dealing with overspending or issues of financial support across generations or among siblings
  • Figuring out estate planning and long-term wealth management when family problems are complex

Jim Grubman works with families to design effective approaches to these challenges. He helps initiate or facilitate family meetings that improve communication, work out conflicts, and foster successful involvement of the next generation. Drawing from his broad background, he collaborates with family advisors about the financial, medical or legal issues impacting the problem. Furthermore, as an experienced neuropsychologist, Jim is one of the few family wealth consultants who understands and knows how to accommodate ADHD and learning disorders as part of wealth management and family consultation.

Family enterprises have their own special strengths and challenges. Decision-making is an especially common difficulty for family businesses. A family that shares ownership and/or management of a large enterprise must contend with powerful stresses in several areas:

  • Conflicts during succession planning and generational transitions
  • Making the transition from single leadership and decision-making to other forms of family governance, such as next-generation leadership or a family council
  • Estate planning decisions integrated with business transition planning
  • Medical crises affecting key family leaders
  • Strains in family-run philanthropic foundations

Using a collaborative approach, Jim works with family enterprises to assess and improve these areas of conflict or transition. He helps families develop governance structures and processes, guided by the family's goals and values.

Consulting to families of wealth and multi-generational family enterprises.