WH Ireland shareholders have voted to back a £5m fund-raising move which will help stabilise finances at the troubled wealth manager and Financial Planner.

Financial Planning-focused adviser group AFH Financial has temporarily suspended trading in its ordinary shares on the AIM index pending an announcement from the business.

Peter Hargreaves, one of the co-founders of fund platform Hargreaves Lansdown, has sold off a £300m stake in the firm he launched with business partner Stephen Lansdown in 1981.

Wealth manager and Financial Planner Kingswood is to raise a further £20m to fund its acquisition war-chest.