FCA's Targeted Support Proposals
There is a support gap in the UK, with around 25 million people having never received regulated financial advice or guidance, despite the importance of pensions and retail investments for long-term financial resilience.
The Financial Conduct Authority's (FCA) targeted support proposals are a vital first step in helping consumers make better informed financial decisions, particularly in navigating retirement decisions.
The need to help consumers make better informed financial decisions is greater than ever.
- Pimfa strongly supports the FCA's ambition to give consumers better tools for retirement decisions.
- Targeted support will only be able to take some consumers so far in closing the support gap.
Author's summary: FCA's proposals are a welcome first step in addressing the UK's support gap.