Understanding wealthy families is critical to advising them.
One key to grasping the psychological complexities of wealth is to realize that approximately 80% of families with wealth were not raised with wealth, according to expert and author Dr. Jim Grubman. In his new book "Strangers in Paradise: How Families Adapt to Wealth Across Generations," Grubman compares wealthy families who came from working class and middle class backgrounds to immigrants settling in a new country with a new culture.
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