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. In the investment experiment conducted by the FCA as part of the consultation, it compared a targeted support communication (including the full set of information components) with guidance. Here, the guidance communication provided general information about investing (benefits and how to invest) rather than a suggestion tailored to the relevant consumer segment. From this, it found that even among those shown guidance instead of targeted support, 33% believed the suggestion was financ...
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