Tavistock Investments has become the latest wealth business to announce pay cuts for its executives in the wake of the coronavirus pandemic.

This morning (8 April), the financial advice and fund firm said all members of its executive team had volunteered to waive a “significant proportion” of their income with immediate effect. It did not specify exact pay cuts.

The firm said the business had performed well over the year, despite the pandemic making the latter part of the year to 31 March “extremely challenging”.