After upgrading the Management Server to 10.1 FR1, when opening the Management Console and connecting to the server, an error is thrown that the database version is incorrect.
Opening the Server Configuration Portal shows that the Database is the correct version.
Go to the Server Configuration Portal.
Create a new empty Management Server Database.
Expand the Servers and click on Default.
Change the Databse connection to the new Empty one.
Open the Management Server console and confirm you can connect.
In the Server Configuration Portal, click on Databases and delete the original Database connection (This only deletes the database connection, not the Database)
Once the Connection has been removed, Recreate the connection, go back to the Management Server > Default and set the database connection back to (New) Original database.
Open the Management Server Console and you should then be able to connect with out any errors.