FCA's Targeted Support Proposals
The UK has a 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 welcome first step in addressing this issue, aiming to help consumers make better-informed financial decisions, particularly regarding retirement.
The need to help consumers make better informed financial decisions is greater than ever.
Pimfa strongly supports the FCA's ambition, although there is some scepticism about the effectiveness of these proposals in turning savers into investors.
Author's summary: FCA's support helps bridge UK's financial advice gap.