Recently, the principle associate, Kim Steven Barrett, gave an interview to ´Selling Financial Services´ about his unique and honest approach to financial services. Below is an extract from that interview.

"Selling Financial" is the sales & marketing magazine for financial advisers ( www.sellfinancialservices.com ) and the full interview can be downloaded HERE.

Who do you see as the practice´s main customers?

The practice´s main customers are ´the man and woman in the street´, as the practice has always served the day to days needs of ordinary working people. They are not always able or willing to pay fees for advice with regard to their financial services needs so the practice needs to attract new client who will pay for the services I can offer. This is not proving an easy change to make as it is difficult to refuse to provide advice to clients where there is no remunerative incentive so to do.

Therefore we have created a fixed price product for an annual review (Click "Annual Review") so costs are known beforehand, which is proving very popular.

What are the markets in which the practice operates?

The practice does not restrict itself to any markets. I have always thought it dangerous to specialise. I am, therefore, best described as a reactionary adviser who reacts to any client need or problem thrown at me. I regard myself as a vocational IFA, rather than a salesman and thus my principle objective is to provide my clients with a service that meets their requirements. With some subject matter, I appreciate, you need to be proactive and I would act accordingly in such circumstances. I almost exclusively operate in the personal sector but do not purposely exclude myself from the corporate sector.

What is the practice´s business model?

Embarrassingly the practice does not have a ´business model´ other than to serve current clients, and any new clients to the best of its endeavour.

What is the practice´s commitment to technology and the Internet?

The practice continually monitors changes in technology and the impact of this upon the marketplace and thus the practice itself. I would say that it is an essential business tool for any practice to have both a computer, and access to the Internet. Furthermore as more and more information, communication, and stationery is dealt with through the Internet, broadband is also an almost essential requirement.

What is the product range available for customers?

This practice does not specialise and thus wishes to offer any product from throughout the product range in the market place. If a client approached the practice and their needs were of a very sophisticated nature then I would have to consider passing the business to another practice that possessed the expertise to deal with it. As a well qualified adviser myself there are not too many subject matters that would cause a problem to the practice to deal with so nothing much would faze me!

How is your business funded?

K S Barrett & Associates are independent Financial Advisers and as such offer clients the ability to remunerate us for the services we offer on a fee, or commission basis. A mix of the two options is also often a practicable solution.