The Financial Conduct Authority’s (FCA) targeted support findings found that consumers demonstrated a mixed understanding of how to differentiate between individualised advice and targeted support.
Published today (30 June), the regulator has now unveiled its long-awaited targeted support findings. A consultation will run for eight weeks, with the FCA aiming to finalise rules by the end of the year. Targeted support is expected to enable firms to give suggestions to groups of consumers who have common characteristics. The FCA has set out that targeted support could act as a "stepping stone" to simplified or more comprehensive advice in the event that consumers want a more personalised option. The regulator further clarified that it will conduct further work on simplified advice....
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