The Experience of Inherited Wealth
A SOCIAL-PSYCHOLOGICAL PERSPECTIVE
by Joanie Bronfman
Joanie Bronfman, a Seagrams family heir, was frustrated at the lack of attention paid by academia to the attitudes of the very wealthy. She embarked on what became a groundbreaking and influential document that had a major impact on wealth advising and how the wealthy think about themselves. Interviewing over one hundred people, she thoroughly catalogs the challenges of wealth and the origins of the attitudes of the wealthy and their place in society. The document was never published but was passed around in photocopies for years. Joanie has kindly given The Inheritance Project permission to share the document and its summary for non-commercial use and hopes that a new generation can be inspired by it.
“The impact of Joanie Bronfman’s dissertation cannot be overstated. It helped usher in a new era of readiness to hear about the many challenges of inherited wealth. In addition, her scholarly organization of this area still stands as a model for understanding the voices of the wealthy. Joanie spent her life sharing, discussing, and using what she found as a catalyst for social change. It is a truly amazing legacy.” – James Grubman Ph.D. – author of Strangers in Paradise: How Families Adapt to Change Across Generations
“Joanie’s Ph.D. dissertation opened up for women of financial means and for our field the means to “speak about” the special issues of women of financial wealth. Every program since on this subject is indebted to Joanie’s pioneering work.” – Jay Hughes – author of Family: The Compact Among Generations
“Joanie’s dissertation was the first research to open up the lives of wealthy heirs and share the inner tensions and reflections of a very hidden strata of society.” – Dennis Jaffe – author of Borrowed from Your Grandchildren
“Forty years ago, Joanie Bronfman’s graduate research capturing the lived experiences of inheritors—in their own voices–was both courageous and truly ground-breaking. At a time when no one (including the wealthy themselves nor society at large) talked openly about the challenges facing the family members of wealth creators, Joanie decided to pull back the curtain on the lives of those raised with wealth. For the first time, this demographic had a voice and a humanity beyond society’s projections of what it means to be wealthy. The first time I read Joanie’s dissertation I was inspired and grateful for the insight it provided. What a gift she gave all of us—advisors and family members alike.” – Kristin Keffeler – author of Myth of the Silver Spoon
Please note that these are provided for non-commercial use only. We encourage you to read and share them, but they cannot be sold or repackaged for sale.