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 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, although there is some scepticism about the effectiveness of these proposals in turning savers into investors.
Author's summary: FCA proposes targeted support to bridge the UK's financial advice gap.