At the start of the year we published our Wealth Management Annual Review (WMAR). This was our reflection on all the trials and tribulations faced by the wealth management sector during 2023. We provided insights into the Consumer Duty, M&A due diligence, and prudential regulation, among other topics. We also mentioned that we anticipate 2024 being a similarly challenging year for firms in the sector.
We take a look at the compensation limits and statutory payment increases as of April 2024 and the revised Vento bands published by the Presidents of the Employment Tribunals.