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 – from the “millionaire next door” to The Forbes 400 – 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.
2021 Family Wealth Report Award Winner
Grubman and Jaffe Win 2021 Family Wealth Report Award for Outstanding Thought Leadership
The 8th Annual Family Wealth Report Award for “Outstanding Contribution to Wealth Management: Thought Leadership (Individual)” is shared by long-time collaborators James Grubman PhD and Dennis T. Jaffe PhD for their many years of exceptional work together on behalf of families, advisors, and the industry. Their thought leadership and constant advocacy for family dynamics, family governance, advisor skills training, and the family’s needs in wealth management are recognized deeply by this honor.
New & Notable
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assertion is tracked back to original sources, finding the “rule” was built on a single study from the 1980s that was superseded by better research decades later.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.
Wealth 3.0 Article Published in Trusts & Estates Online
Trusts & Estates online magazine published the first article discussing the tenets of Wealth 3.0, an emerging new paradigm concerning family wealth training, advising, and research. Authored by Jim Grubman, Dennis Jaffe, and Kristin Keffeler, the article is entitled “Wealth 3.0: From Fear to Engagement for Families and Advisors.” Future articles will provide more detail about how Wealth 3.0 can be implemented by families, advisors, and the wealth management industry.
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 has 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. The Ten Domains model provides a roadmap for families and advisors to achieve integrated, client-centered services for the benefit of the family. 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
Authors @ Drucker – Webinar
at Virtual EventNovember 17, 2022 @ 1:00 pm - 2:00 pmDavid Specht of the Claremont Graduate University Drucker School of Management will host Jim online for a discussion of the concepts and advisor tips from Jim's classic book, Strangers in Paradise.
UHNW Institute Symposium
at New York NYNovember 3, 2022Jim participated in several very successful panels and breakout sessions discussing the increasing complex client families of today and tomorrow, with the impact on UHNW firms, advisors, and family offices.
Workshop at FOX Fall Forum
at Atlanta GAOctober 25, 2022Jim was interviewed in a plenary session about Wealth 3.0 and then led an extensive afternoon workshop for families and advisors of the Family Office Exchange (FOX).
Purposeful Planning Institute – Annual Rendezvous
at Denver COJuly 18, 2022 - July 21, 2022Jim helped lead two packed sessions on practical applications of Wealth 3.0 with Dennis Jaffe and Kristin Keffeler for PPI’s community of family wealth advisors.
Redefining Our Work for a New Generation
at Virtual EventJune 8, 2022 @ 1:00 pm - 2:30 pmJim Grubman and Kristin Keffeler led an interactive 90 minute webinar on the tenets of Wealth 3.0 for the 21/64 advisor collective.
In The Media
Podcast with Family Office Exchange
Jim Grubman and Jeff Strese of FOX talk about the 2022 FOX Fall Forum, the impact of Wealth 3.0 on families and advisors, and how a positive approach dovetails well with FOX’s training and consulting activities. Listen here on Apple podcasts.
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.
Family Business Podcast with Russ Haworth
In multiple podcasts, Jim Grubman talks with UK-based Russ Haworth about integrated services, Wealth 3.0, the Ten Domains of Family Wealth, and many other topics. Listen to discussions about family wealth here on the Family Business Podcast.
The Heritage Institute's "Trusted Advisor" Podcast
Rod Zeeb of The Heritage Institute and Jim Grubman share a conversation about the need for more rigorous research in the field of family wealth advising. View the video of the podcast here.
