"It’s well known that Skipton Building Society has had remarkable success working with Focus so I’m sure more firms will be keen to embrace what they can offer."
- Ian McKenna, CEO & Founder of Protection Guru
Focus Business Solutions (Focus) has regained independence after nearly fourteen years of operating as part of an FTSE-listed business. The successful completion of its management buyout (MBO) from abrdn puts Focus in a strong position to deliver its growth ambitions.
The software provider was founded in 1993 and acquired by Standard Life in 2011. Its technology provides advice firms, consolidators, building societies, and platforms with proven ‘Advice Engine’ automation to minimise the time spent on each advice case. This allows clients to scale whilst delivering consistent advice.
Over the years, Focus has expanded its blue-chip client base, featuring the likes of Skipton Building Society, NFUM, abrdn, Santander Bank of Ireland, and other serving customers across the UK & Northern Ireland (NI). Broadening this client base will be key to achieving Focus’ growth ambitions.
As an independent software vendor, Focus will retain the stringent processes established as part of abrdn, to maintain the high standards required when servicing clients and its ISO27001 certification.
abrdn will remain a minority investor with a representative sat on the Board.
“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,” said Dave Upton, who’s been with the provider since 2007, and will assume the role of CEO with immediate effect.
He explained: “We’re in a strong position to serve both existing and new customers and deliver transformational new growth. Our vision is a transformed UK advice industry with far more efficient advice delivery. We look forward to offering our innovative products to the wider market and have a solid pipeline of new digital solutions in design.”
David Scott, Chief Enterprise Technology Officer at abrdn, added: “Focus has the technology, expertise, and client-focus to thrive as an independent business. We’re pleased to have completed a successful MBO and look forward to working with the team as they progress.”
Responding to this announcement, Ian McKenna, CEO & Founder of Protection Guru, said “This is a win; abdrn is clearly going through a lot of change under its new CEO so this gives Focus the ability to operate more like a dynamic start-up but from the strength of having an exceptional track record and client base.
“Entrepreneurial technology businesses don’t always fit well into an institutional corporate structure and with abdrn going through such a period of change, it makes sense for both parties to go in different directions.
“We’ve seen a growing number of advice technology businesses providing more options for those wanting to run as technology lead businesses and benefit from the economies this can deliver to improve customer outcomes service & profitability. It’s well known that Skipton Building Society has had remarkable success working with Focus so I’m sure more firms will be keen to embrace what they can offer,” he concluded.
