FCA's Targeted Support Proposals
There is a significant 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, many consumers lack the necessary tools to make informed decisions.
The Financial Conduct Authority's (FCA) targeted support proposals are a welcome first step in addressing this issue.
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.
However, targeted support will only be able to take some consumers so far in closing the support gap.
Author's summary: FCA's support proposals are a worthwhile step.
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