FCA unveils targeted support plans 'to enable a greater culture of retail investment'

Flags mixed consumer understanding

The Financial Conduct Authority (FCA) has unveiled its long-awaited proposals for targeted support, to help consumers be confident making decisions about their investments and pensions.

Targeted support is expected to enable firms to give suggestions to groups of consumers who have common characteristics. The FCA has set out that targeted support could act as a "stepping stone" to simplified or more comprehensive advice in the event that consumers want a more personalised option. The regulator further clarified that it will conduct further work on simplified advice. It will also lay out how further guidance can be given. "Our proposals taken together allow firms to provide a sustainable continuum of support to help their customers at different times of their life,...