Timothy Kench & Co Solictors
 

Mission Statement

 

Our aim is to provide quality bespoke services to Clients over a range of core matters by a specialist solicitor. We are a small practice with a team of dedicated professionals committed to servicing our Clients in a personal and friendly way. We do not operate on a "conveyor belt", "one size fits all" system, as we recognise that every Client is unique with individual requirements and concerns. Our approach is to tailor our advice and work to the individual Client and to work to our Clients' timescales and not ours. It goes without saying that we strive to give an exemplary service and 'best advice' in each case even when that advice sometimes may not be what the Client wants to hear!

We are a local Practice operating in a global setting and we have retained many Clients throughout England & Wales and overseas. In 2013 we are  celebrating 30 years of continuous practice  in Prestwood and our aim is to continue to provide a Personal, Friendly, Quality and thoroughly Professional Service to both the local community and the wider spread of Clients in years to come.

Since late in 2011 traditional "High Street" firms have had competition from a new concept in the legal world, with the advent of ABS (Alternative Business Structures).  Many traditional firms have felt threatened by these as they have for the first time allowed non-lawyers to share management and control of a legal practice and allow outside investment from non-lawyers who see that investing in such a company may potentially be a  profitable business venture. Fortunately, so far, the numbers of ABS firms that have been authorised by the Solicitors Regulation Authority (SRA) have been relatively few and indeed several traditional firms including sole practioners have seen this as an opportunity to reduce the level of regulation that otherwise they would be subject to.  Of course it is the larger organisations such as the Co-op  and the AA who have already formed a separate dedicated legal services branch  who are the  more serious threat to traditional firms as they have clearly vast financial resources from other activities which will subsidise their legal services.  Inevitably, in our view, this would lead to a reduction in the "face-to-face" personal service that we as a firm continue to offer.  It is fair to say though that the ABS type of firm is still very much in its infancy and experimental stage and it is only in the years to come that the full impact on the traditional supply of legal services will be felt.  We as a firm still regard our clients as clients whereas the terminology used by the larger ABS organisations, and it has to be said by the SRA, is to refer now to clients as "Consumers".  We believe this to be devaluing the solicitor/client relationship.  Whilst the larger companies can offer, for instance, conveyancing services at a reduced fee due to the fact that their service centres are usually remote from the client, the personal touch is lost and our experience when these companies are involved is that there are delays and a marked lack of communication.  We still believe that our discerning clients when embarking upon one of the most important and expensive purchases they will ever make, prefer the individual service provided by our firm.  The last few years have also seen an increase in referral fees in conveyancing whereby nationally owned chains of estate agents are paid these fees to specifically recommend the services of the remote conveyancing company.  We believe that the payment of referral fees potentially can lead to serious conflicts of interest which would be detrimental to the client.  We have never and will never pay referral fees - our Clients choose us by reputation and by the quality of the advice and service we provide.

During the last 12 months or so there has been a move nationally, which has been reflected in our own local area, for the smaller firm to be absorbed into larger multi-office firms.  Whilst these still tend to follow the traditional form of a legal practice inevitably as time progresses smaller communities may lose their convenient  access to a local firm as economies of scale will dictate that smaller less profitable branches will close.  The recent and continuing turmoil in the banking industry has also led to a substantial reduction in funding available to support small and medium size practices.  In the event that the economy continues to be depressed for the forseeable future and the banking industry becomes much more strictly regulated then in our opinion the larger ABS type organisations will increase to the detriment of local practices and the communities they serve.

Of course the larger firms and ABS organisations, due to their size, can offer far wider areas of legal services and especially company-commercial services geared to the Corporate client. We shall confine our services to those we have traditionally offered to the public, centred around property, family matters and what is known as "private client work" which encompasses Wills, Trusts and Probate. We are very fortunate in having in each of those core areas specialist Solicitors who each have over 25 years experience since qualification. Our Solicitors pride themselves on the individual attention given to clients.

We are also acutely aware that the  continuing recession  has affected and continues to affect a substantial number of our Clients. As a consequence, quite naturally, Clients are looking for even greater value for money in the provision of legal services to them. We would encourage our Clients therefore to discuss their financial concerns with us at the outset of each matter so that we can continue to provide the "bespoke service" within the Clients' individual budgets. We pride ourselves on keeping Clients fully up to date on the progress of their matters, including monthly billing enabling them to manage their finances.

In these extremely uncertain financial times, both nationally and internationally, it is vitally important that each firm, or indeed new-type business structure which has the provision of legal services as its core business, considers the financial stability of the firm and what systems and controls need to be put in place for ensuring continued financial stability and economic viability. Of course it is always tempting in uncertain times to try and attract as much business as possible by slashing fees, however that can lead very quickly to a situation where the economic viability of the firm is very seriously in doubt. We pride ourselves on giving value for money and constantly monitor the fee structure which matches the service provided. We ensure that in each area of our practice we inform Clients at the outset as the likely fees and costs and that these are fairly expressed and not misleading.

We at Timothy Kench & Co are members of The Bold Group which we strongly believe will help us compete more effectively with the larger practices in major centres of population. We believe that it is still essential to provide core legal services to the smaller community which may very well be bypassed by the larger organisations. Whilst the initial target areas for the larger organisations are in conveyancing, we still believe that our discerning Clients prefer the individual services provided by the smaller firm. We look forward to the future with confidence and will continue to provide our Clients with the service they deserve.