Unbiased.co.uk has finalised a management buyout led by chief executive Karen Barrett.
Unbiased says the deal, part of a four-year strategy to wean the business off its dependence on provider sponsorship, will secure more representative and sustainable sources of funding.
Current provider sponsors will remain shareholders in the company and will continue to providing funding through buying services such as database access and the consumer ’Find an IFA’ tool and supporting events.
Unbiased will be run by an executive committee made up of chief executive Karen Barrett and company secretary Clare Kissane.
Lansons Communications chief executive Tony Langham will join as non-executive chairman.
Barrett (pictured) says: “As an organisation our aim is to strengthen and widen consumer understanding of the benefits of independent financial and professional advice.
“There is no greater time than now for consumers to get this message. There have been seismic changes in the financial services industry over the last four years, confirming that our strategy to steadily phase out full dependency on provider sponsorship was the right one. It is the only way to ensure that Unbiased continues to be of value both to consumers and to independent and professional advisers in the long term.”
She adds the business plan has been reached with the support of providers.
Non-executive chairman Tony Langham says: “People need more financial advice than ever before and in connecting people with advisers Unbiased.co.uk provides an increasingly valuable service. I have worked with the company since 1992 and am honoured to have been asked by Karen to become chairman, as the business enters a new phase.”