A damning report on the private wealth industry has highlighted the sector’s “anti-tax stance”.

With the tagline Politically Biased, Ethically Compromising & Failing Clients, the report was produced by the Progressive Advisors Movement, with support from the Good Ancestors Movement.

Describing itself as a “new insider movement of practitioners demanding change within industry", the report argued: “The private client advisory sector is in need of reform. It is...