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Firms take cautious approach to Targeted Support, study finds
Wealth management and financial advice firms are taking a measured approach to new regulatory initiatives, according to research from PIMFA.
FCA Targeted Support
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FCA’s Targeted Support is missing out on later life lending, says Key Partnerships
The referral arm of Key Group said targeted support could help close the UK’s advice gap by bridging the space between general guidance and advice.
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FCA outlines further plans for Targeted Support
The new model will allow firms to provide more tailored prompts and specific suggestions to consumers.
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Royal London says 21.5 million people could benefit from Targeted Support
Royal London has reported that around 21.5 million people in the UK could benefit from the proposed Targeted Support framework.
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FCA targeted support proposals could boost mutuals and friendly societies – Broadstone
Under the proposals, firms would be able to apply for permission to offer targeted support to groups of customers sharing common characteristics.
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EV calls for data-driven approach to FCA’s Targeted Support
EV said the regulator’s proposals have the potential to transform consumer support, but warned that success hinges on using richer data sets and embedding model-driven tools into firms’ processes.