Bankhall Investment has called on advisers to address any operational risks within their firms prior to putting diversification plans into action.

Skandia has appointed two regional sales managers as part of its ongoing commitment to provide accessible local support for financial advisers.

Aegon's head of UK equity, Stephen Adam, says there is a high risk of a UK recession in the remaining six months of this year.

Royal London has reported a 32pc first half drop in gross new business for its Asset Management Arm (RLAM) to £1.02bn, though was buoyed by a combined strong performance from its other businesses.

The Bank of England has kept the UK base rate on hold at 5% for the fourth month in a row.

The Bank of England's Monetary Policy Committee (MPC) has voted to keep interest rates steady at 5%.

HBOS data has revealed a 1.7pc dip in house prices in July, bringing the year-on-year fall to 8.8pc.

The FSA has delayed by a month the publication of its full feedback statement on the Retail Distribution Review (RDR).

New business at the asset management arm of Royal London (RLAM) plunged 32% in the first six months of 2008 compared with the same period last year, while new business at Bright Grey, its protection proposition, also fell.

The FSA has postponed publishing its feedback on the Retail Distribution Review (RDR) until November.