Royal London confirmed today it was offering exclusive talks with fellow mutual LV= about a possible merger after a £530m bid by US private equity firm Bain Capital for LV= collapsed last week.

The £232m takeover of Financial Planning-led wealth manager AFH Financial Group has been given the green light by the FCA.

Plans for a new executive pay scheme at Financial Planning firm and takeover target Tavistock have fallen through after shareholders failed to support the move.

Financial Planner and wealth manager Tavistock has criticised an unexpected and unwelcome takeover offer from a new company as undervaluing the business and providing little benefit.