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Managing Difficult Clients Without Getting Fired With Dr. Jim Grubman

Mar 16, 2021

Our guest for this podcast episode could not be any more fitting and appropriate, Dr. Jim Grubman, is a family wealth consultant. He has written several books and articles; he serves as the curriculum expert and chair for the ultra-high net worth institute. He works with families and understands both the psychology of families and the complexities that come with being a high-net-worth family. Dr. Jim Grubman shares with us how wealth is much more complicated to learn and adapt to. Tune in as we talk about how it is for families of wealth and how you can help them as a consultant.

In This Episode:

  • [03:28] Meet Jim Grubman and learn about how he got into working with families of wealth.
  • [07:05] His experience working with families with sudden wealth syndrome or culture shift.
  • [11:08] How he would handle things differently with situations or families he’s handled before.
  • [14:55] The barriers of families who are not emotionally ready for wealth.
  • [16:27] Jim’s tips on working with families of wealth, being objective, not getting their issues or emotions come to surface while advising.
  • [22:05] What Jim wants the listeners to consider.

Key Takeaways:

  • Having someone come in as an objective resource and reframe the way that parents or children are thinking about issues can be beneficial to the relationship of the family.
  • Each person who has come to wealth has their story of how they got there and what the journey was like.
  • Knowing your own reactions, money story, and money messages are fundamental to be able to work with this population.
  • Wealth is much more complicated to adjust, navigate, learn, and adapt to as a family.
  • Be curious, don’t be judgmental, stay open, see people as individuals and try and understand as best you can.

Meet Dr. Jim Grubman:

Dr. Jim Grubman is a senior consultant to multigenerational families and their advisors about the issues often arising around wealth. He has over 40 years’ experience in healthcare and financial psychology as a practitioner, educator, author, researcher, and speaker. He has published widely and been quoted in various media including the New York Times, the Wall Street Journal, and CNBC. His global consulting practice, Family Wealth Consulting, is based in the Boston, Massachusetts area.

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