Financial advice group IFG said it would meet forecasts for the year, describing its performance as "satisfactory".

In a pre-close trading update the firm said it expected to record earnings per share of between 18 and 20 cent on an adjusted basis.

The firm also said its companies had received invoices from the UK's Financial Services Compensation Scheme (FSCS), which is implementing an interim levy to help remedy the cost of major investment failures in certain firms.

IFG firms have received invoices for its contribution to the levy totalling just under £1.1 million. Its acquisition James Hay, which IFG bought last March, received invoices for £940,000 of this total.

The FSCS was established under the Financial Services and Markets Act 2000. It acts as a compensation fund of last resort for customers of authorised financial services firms.