Fraudsters claiming to be from wealth manager Rathbones are attempting to convince people to transfer money to them for share purchases.

The FTSE 100 has fallen 0.3% or 16 points to 5,413.5 in early trading after America's Federal Reserve said overnight there were "widespread signs of deceleration" in the US economy.

Multi-manager stalwarts Gary Potter and Robert Burdett will assume management of the F&C fund of funds range following the departure of Dean Cheeseman.

The FTSE 100 regained some of the ground it lost today in late trading, but still closed down 0.8% lower at 5,211 points.

Thames River Capital's multi-manager team is adding 20 new IFA firms a month to its client list which has helped it breach the £500m AUM mark.

A fall in mining shares on the back of drops in metal prices led the FTSE down 0.8% to 5,202.85 points in early trading.

Sterling has strengthened against the US dollar and euro on the back of today's emergency Budget, while gilts have also bounced.

The FTSE showed little reaction to Chancellor George Osborne's Emergency Budget, narrowing only slightly by 0.2% as he finished delivering it.

The FTSE started the day positively buoyed by a strong start for bank stocks and increased hopes of a global recovery.

RWC Partners has hired John Bennett from JP Morgan Asset Management to lead its marketing to IFAs.