FCA's Targeted Support Proposals
The UK has a significant support gap, with around 25 million people never having 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 addressing this issue, aiming to help consumers make better-informed financial decisions, particularly in regards to retirement.
The need to help consumers make better informed financial decisions is greater than ever.
- Pimfa strongly supports the FCA's ambition to provide consumers with better tools to navigate their 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 worthwhile step in addressing the UK's support gap.
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