Close Brothers’ Money Talks portal to help family firms’ financial planning

Edinburgh firm supports financial education for UK family businesses

Edinburgh-based Close Brothers Asset Management (CBAM) has developed a new ‘Money Talks’ service for global online resource centre and magazine Family Business United.
Its new service is an online financial education portal – available to Family Business United members – through which family business owners and employees will be able to benefit from information and support across savings and investments, pensions and retirements, budgeting, wills, and estate and tax planning.
CBAM says that by making access to financial education simpler and easier, Money Talks will help to guide family businesses with an array of financial education issues, including planning for retirement, which remains a key concern for owners. A recent survey by CBAM and Family Business United found that 38% of family business owners were worried by the prospect of planning for later life.
Jeanette Makings, head of financial education at Close Brothers, said: “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.
“Through our Money Talks portal, members of Family Business United can improve their knowledge base – from personal financial planning, investments, inheritance planning and preparing for retirement – which will go a long way to supporting family business owners and employees in the long-run.”

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