Trusts & Estates magazine published a second major article discussing the tenets of Wealth 3.0, an emerging new paradigm concerning family wealth training, advising, and research.  Authored again by Jim Grubman, Dennis Jaffe, and Kristin Keffeler, “Wealth 3.0 in Practice” outlines some of the practical techniques used in this new approach.

Their inaugural article “Wealth 3.0: From Fear to Engagement for Families and Advisors. was published in February of 2022.

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assertion is tracked back to original sources, finding the “rule” was built on a single study from the 1980s that was superseded by better research decades later.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.

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.

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.