Paragon shares slumped almost 15% this afternoon after the mortgage company rejected a proposed 125p per share takeover.

Invesco Perpetual's Neil Woodford will not run any other investment trusts after taking on the £1bn Edinburgh mandate today and the group has sounded a cautious note on extra mandates he would consider in the future.

Guided sales will pose a threat to independent financial advisers if the proposals in the Retail Distribution Review (RDR) are given the green light, life companies warn.

Wall Street has taken its expected punishment upon opening this morning, with the Dow Jones slumping almost 3% in under an hour of trading.

Satisfaction levels among consumers who visit an IFA are at an all time high, according to Unbiased.co.uk.

Family Investments is set to offer a £1.4bn mandate to Santander Asset Management after cancelling a four-year contract with New Star.

RWC Partners has confirmed the RWC Asia Ascent fund will launch on 20 October.

Edinburgh investment trust, the £1bn UK Growth and Income vehicle, is offering the first performance fees in its 150-year-history as Neil Woodford becomes lead manager.

Allowing SIPP investment in residential property could boost the flagging housing market and prevent a recession, a financial adviser says.

Skandia Investment Group (SIG) is set to launch its Core Fund range in Continental Europe and Latin America, with plans to roll it out in the UK in 2009.