Focus Business Solutions, an advice tech business, has completed its management buyout (MBO) from abrdn, with Dave Upton, a long-time team member, becoming CEO.
Focus was founded in 1993 and acquired by Standard Life in 2011. It is now an independent firm after operating as a part of a FTSE-listed corporation for almost 14 years.
Focus offers automation to help platforms, consolidators, and advice companies improve consumer experiences and optimise operations through its “Advice Engine”. Focus has more than 30 years of experience and has created a cloud-based platform to enhance the delivery of guidance.
The business is ISO27001 certified and supports its Blue-Chip client base including NFUM, Skipton, abrdn, and Santander. abrdn will continue to be a client and minority investor with a seat on the Focus Board.
In addition to growing its clientele, the company wants to keep creating solutions for the advising tech sector.
Focus Business Solutions CEO Dave Upton says: “Being part of abrdn enabled us to strengthen our practice and processes over the past decade. Our return to independence means we can take our learnings to even more advice firms across the UK, with a talented customer-centric team, innovative new technology and a robust balance sheet in place.
“We are in a stronger position than ever to serve both existing and new customers as well as delivering transformational new growth.
“Our vision is a transformed UK advice industry, with far more efficient advice delivery leading to more affordable servicing of more consumers.
“We look forward to offering our innovative products to the wider market and have a solid pipeline of new and exciting digital solutions in design.”
abrdn David Scott says: “Focus has the team, the tech, the expertise and the client-focus to thrive as an independent business. We are pleased to have completed a successful MBO process and look forward to continuing to work with Dave Upton and his team as they progress on that journey.”
