'Essential' that FCA and FOS are fully aligned on targeted support and simplified advice

Simplified advice engagement to come end of this year

Isabel Baxter
clock • 6 min read

The Financial Conduct Authority’s (FCA) targeted support has been heralded as a “game changer” but industry commentators have cautioned that the regulator and the Financial Ombudsman Service (FOS) must be fully aligned when it comes to the proposals.

Unveiled today (30 June), the FCA's targeted support findings flagged a mixed understanding from consumers when it comes to differentiating between individualised advice and targeted support. St James's Place director of public policy James Heal applauded the idea of targeted support but cautioned that for targeted support and simplified advice to be viable for firms to offer, it is "essential" that the FOS is fully aligned on the limitations and responsibilities of each. He said: "Targeted support is not a silver bullet. It must be part of a broader pipeline of support. This includes...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Risk Warnings Review to create 'meaningful shift' in advice communication

Risk Warnings Review to create 'meaningful shift' in advice communication

Will bolster adviser confidence to use social media platforms

Sophia Panayi
clock 16 April 2026 • 5 min read
Most advice firms not planning to implement targeted support - research

Most advice firms not planning to implement targeted support - research

Firms are taking a ‘wait and see’ approach

Sophia Panayi
clock 16 April 2026 • 3 min read
Attitudinal targeted support could be 'the way forward' - research

Attitudinal targeted support could be 'the way forward' - research

Investments increased 30% when targeted support focused on attitudes

Sophia Panayi
clock 15 April 2026 • 4 min read