One of the most important thought leaders in the industry is stepping down from his post - while staying at the organization in an advisory role, with Tom McCullough of Northwood Family Office moving into the vacated slot.

Tom McCullough, founder and chairman of Toronto-based Northwood Family Office, has been named manging director of thought leadership and strategy at the UHNW Institute, the think tank. He succeeds Jim Grubman, who has retired from the position.

"We are deeply grateful to Jim Grubman for his significant contributions to The Institute, including the 10 Domains of Family Wealth, the Wealthesaurus, and the AIM Framework, as well as his steadfast dedication and demonstrated thought leadership over the past seven years,” Steve Prostano, Institute chairman, said in a statement yesterday. “Jim has also been a trusted friend and mentor to everyone at The Institute.”

(Both Grubman and Prostano have received lifetime achievement awards from this publication, which is also exclusive media partner to the Institute.)

The transition plan at the Institute began more than two years ago, Prostano said.

“We began implementing the transition plan in 2025, and we are pleased that Jim will continue to work with us as an advisor and as a member of our Emeritus Board,” he continued.

“We are confident that Tom McCullough’s background, experience, and demonstrated thought leadership will help take The Institute to the next level. Tom has authored numerous books and articles, has been engaged many times as an expert speaker on the wealth management industry, UHNW families, and family offices, and teaches at the university level,” he said.

McCullough has experience in building, leading, and managing wealth management platforms.

FWR covered the think tank’s annual symposium in New York City on November 17 and 18 last year. A fuller account of the symposium will be issued by the Institute in January. Last fall, it issued a white paper on what is meant by "integrated" wealth management."

Tom McCullough

Jim Grubman