Focus Business Solutions (Focus) has completed a management buyout from abrdn, regaining its independence after nearly 14 years.
The buyout was led by Dave Upton (pictured), who has been with the company since 2007 and will now serve as CEO.
The move positions Focus to expand its client base and develop its proprietary technology, Advice Engine, which aims to minimise the time spend on each advice case.
Focus was founded in 1993 and acquired by Standard Life in 2011, with expertise in digital and automated advice solutions across sectors like protection, pensions, and investments.
It serves clients including NFUM, Skipton, and Santander Bank of Ireland.
As an independent entity, Focus will maintain the processes established under abrdn and keep its ISO27001 certification; abrdn remains a minority investor with a seat on the board.
Upton said: “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.
Upton added: “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.”
David Scott at abrdn said: “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.”
