Pension providers called to fix consumer vulnerability gaps before targeted support rollout

Support services provider MorganAsh has noted that targeted support will allow pension schemes to provide ‘ready-made suggestions' to customer segments with certain characteristics. These suggestions could focus on products, certain actions or support options. The move is designed to close the advice gap, while giving firms the opportunity to offer more scalable and lower-cost support models. However, MorganAsh has reminded pension providers that the targeted support framework is underpinned by the expectations of Consumer Duty, warning that firms must meet the requirements for custom...