The Boston-based firm has appointed Dr Cynthia Adams Harrison as managing director, responsible for the launch and oversight of the Center for Family Owned and Privately Held Businesses, which will work worth with business-owning families on issues such as growth, succession and family governance.

Just yesterday a report came out from the professional services firm Rothstein Kass, highlighting how family and business affairs can complicate each other when they overlap. In the study, 72 per cent of family-business owners felt it put a strain on their family, while family conflict was also cited as a reason for the ultimate divestment of the business.

The new center, based at the firm's Boston headquarters, will provide consulting on a range of areas including family harmony and lasting legacy; family governance; succession and continuity assessment and planning for the family business, and leadership development and career planning for family members and key senior executives in the business.

Pricing for services will be standalone or bundled, depending on each client's specific needs, and the services will be marketed to existing and prospective clients as of 1 November, Steve Prostano, chief executive of Silver Bridge, told Family Wealth Report.

Dr Adams Harrison was previously an associate consultant at Genus Resources for twelve years, specializing in enhancing business and team/family performance. In her new role, she will also be responsible for talent development across the firm.

Silver Bridge has been active this year in strengthening its ties with the wealthy-family community. In June it launched an educational platform, called the Silver Bridge Institute, designed to help clients become more engaged in their financial lives, just as such “soft” services are becoming more prominent in the industry. Dr Adams Harrison will be extending this platform further with a curriculum focused on families in business.

The firm also expanded its regional coverage in August with the launch of an office in Berkeley, California, appointing Gretchen Lucas there as a family office advisor.

Silver Bridge has around $2.75 billion in assets under advisement as of 30 June 2011.