Close Brothers Supports Financial Education for UK Family Businesses

Close Brothers Asset Management (CBAM) have announced a new service for Family Business Unites, providing its members with access to CBAM’s financial education platform Money Talks

Close Brothers Asset Management provides a variety of advice, investment management and self-directed services to private clients ad professional advisers, and operates out of offices in London, Bristol, Manchester, Gatwick, Newcastle, Northwich, Edinburgh and Glasgow.

Money Talks is an online financial education platform developed by CBAM, through which family business owners and employees will be able to benefit from information and support across savings and investments, pensions and retirement, budgeting, wills and estate planning and tax planning. CBAM’s talks will help to guide family businesses with an array of financial education issues, including planning for retirement, which remains a main concern for owners. A recent survey conducted by CBAM and Family Business United found that 38% of family business owners were worried by the prospect of planning for later life.

Head of Financial Education at Close Brothers, Jeanette Makings commented: “We know that family businesses have their own unique set of financial circumstances and issues, and day-to-day running of the business can sometimes take precedence over longer term planning. However, it’s crucial that both owners and employees of family firms have the right financial education to understand their options when it comes to planning for their future. With ongoing changes to pensions and tax, increased longevity and the growing prevalence of defined contribution pensions, there is a greater need than ever before for financial education and access to advice. As a leading provider of financial education over many years and a huge supporter of family businesses across the UK, we saw this as a natural way to help provide that increased education. This will lead to a greater sense of financial wellbeing among employees, boosting productivity, retention and ultimately, businesses’ bottom lines.