Introducing Karen Barrett, Allica Bank's Great British Entrepreneur of the Year

Now a week on from being named Great British Entrepreneur of the Year, we caught up with Karen to discuss how Unbiased started, how it’s grown, her biggest challenges, and her proudest achievements so far.

What inspired you to start your journey as an entrepreneur?

"I’ve always been passionate about solving real problems for real people. Before founding Unbiased, I noticed how overwhelming and complicated it was for individuals to find trusted financial advice. The lack of transparency and accessibility in the financial advice industry inspired me to create a platform that connects people with unbiased, qualified advisors. I wanted to simplify the process and empower people to make better financial decisions."

What has your experience been like navigating the entrepreneurial world as a female founder?

"Being a female founder in a predominantly male-dominated industry of finances and tech comes with its challenges, but it’s also been incredibly rewarding. While I’ve encountered scepticism and the occasional bias, I’ve also enjoyed the opportunity to lead by example and utilise the platform that being in the minority has afforded me. The key for me has been staying focused on my mission and surrounding myself with a supportive network and looking for opportunities to ‘pay it forward’ to other women in business."

What are the biggest challenges you have faced when building Unbiased, and how did you overcome them?

"One of the biggest challenges was building trust with both consumers and advisers. In the financial advice industry, credibility is everything. To overcome this, we prioritised transparency, developed a rigorous vetting process for advisors, and invested heavily in user experience to make the platform seamless and reliable."

What steps have you taken to build a strong team and foster a positive company culture at Unbiased?

"Building a strong team starts with hiring people who not only have the right skills but also align with our mission and values. When starting out this is something we didn’t always get right but learnt very quickly that we have to be the right choice for those we recruit as much as they need to be the right choice for us. We doubled down on identifying what made a good Unbiased team member and haven’t looked back. We’ve fostered a culture of collaboration, open communication, and continuous learning and I don’t hesitate to tell you that the team we have at Unbiased is one of the things I am most proud of building."

How has the financial advice industry changed since you founded Unbiased?

"The financial advice industry has become more digital and consumer focused. When we started, the industry was largely traditional, with limited online presence. Today, there’s a growing demand for accessible, tech-driven solutions. We’ve also seen increased regulatory scrutiny, which has raised standards across the board. Consumers are now more informed and expect more transparency and speed of service."

What key lessons have you learned from your entrepreneurial journey that you wish you had known when you started?

"One of the biggest lessons is the importance of resilience and adaptability. As an entrepreneur, things rarely go exactly as planned, and being able to pivot without losing sight of your vision is crucial. I’ve also learned the value of building a strong network early on and not being afraid to ask for help. Lastly, patience is key - success doesn’t happen overnight, and it’s important to celebrate the small wins along the way."

Looking back, what do you consider your proudest achievement since starting Unbiased?

"My proudest achievement has been the positive impact we’ve had on people’s lives when they have been making big financial decisions. Hearing stories from users who found the right advisor through Unbiased and were able to achieve their financial goals such as buying a house, investing for an enjoyable retirement or passing down wealth to children and grandchildren is incredibly fulfilling.? Seeing Unbiased grow from an idea into a platform that’s trusted by millions not only in the UK but now also in the US is a testament to our hard work and dedication."

What's next for Karen Barrett and Unbiased?

"For Unbiased, the next step is to continue expanding our reach and enhancing our technology to make financial advice even more accessible. We’re exploring ways to integrate AI and machine learning to better match users with advisers and provide personalised insights. For me personally, I’m interested to see how we can particularly help more women start investing given that by 2026 60% of global wealth will be held by women. I’m excited to see what the future holds for both Unbiased and the broader financial advice industry."

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Thanks Karen, we look forward to participating in that future along with you.