Consolidation in the UK wealth sector is expected to ramp up in 2025, according to bosses and experts in the sector, as firms continue to battle rising staff costs and technology spend.

It was a busy year for mergers and acquisitions in the UK wealth industry in 2024. In total, 67 M&A transactions worth $10.5bn (£8.4bn) were completed last year, according to a Boston Consulting Group analysis of GlobalData figures.