Close Brothers Asset Management has launched a family business venture as it looks to deepen links with such enterprises and their owners, harnessing channels including social media.

Close Brothers Asset Management has launched a family business venture as it looks to deepen links with such enterprises and their owners, harnessing channels including social media.

The Close Brothers Family Business Club will operate through a combination of roadshows, seminars and networking events, as well as creating the Family Business Insight LinkedIn group to keep in contact with their clients.

“We have found that more than ever families are looking for support on growing and managing their business now and into the future,” Penny Lovell, head of private services at CBAM, said in a statement yesterday.

The company said family businesses are “helping to drive the UK forward” and are determined to help them thrive.

Not only will the Club aid families but can create a community for them too. LinkedIn will not only provide CBAM with an outlet to dispense wealth advice, but will help businesses share experiences and kick off debate.

The venture is an example of how wealth management firms in the UK and elsewhere are harnessing social media and other digital channels. It also highlights how the industry sees family-run businesses as an important pipeline for present and future clients. Other banks, such as HSBC Private Bank, JP Morgan and Coutts, among others, have made a point of showcasing outstanding family-run businesses as part of an outreach to the sector.

“Being able to offer a bespoke service allows us to expertly guide these families across all areas of financial planning, corporate issues and wealth management,” said Lovell.

The firm, which operates from offices throughout the UK, developed the initiative following research into family business in Scotland.