FCA's Targeted Support Proposals
The UK faces a support gap, with around 25 million people having never received regulated financial advice or guidance, despite the importance of pensions and retail investments in long-term financial resilience.
Against a backdrop of shifting retirement expectations and the government's drive to increase retail investor participation, the need for informed financial decisions is greater than ever.
The Financial Conduct Authority's targeted support proposals have been a vital and welcome first step.
Pimfa strongly supports the ambition to give consumers better tools to navigate their retirement decisions, although there is some scepticism about their usefulness in turning savers into investors.
Authorised summary: FCA proposes support for financial decision-making.