Why FCA's targeted support plans won't bridge the advice gap

'It's our view that these plans would only be a sticking plaster solution to a much deeper, systemic problem'

clock • 4 min read

Andy Wealthall looks at the regulator's targeted support plans and says he has reservations about its ability to close the advice gap...

In a move to close the advice gap, the Financial Conduct Authority (FCA) is consulting on proposals for targeted support in pensions and retail investments. At Lifetime Financial Management (Lifetime FM), it's our view that these plans would only be a sticking plaster solution to a much deeper, systemic problem. On 30 June, the FCA issued announcement CP25/17, a formal consultation paper outlining the regulator's plans for targeted support, a new form of regulated service. This initiative aims to tackle the UK's widening advice gap by allowing financial services firms to offer simplified...

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

Abuse victims must not be 'blocked' from redress, group urges

Abuse victims must not be 'blocked' from redress, group urges

In response to FCA and FOS consultation paper

Jen Frost
clock 12 May 2026 • 3 min read
FCA receives 210 whistleblower complaints over Consumer Duty in Q1

FCA receives 210 whistleblower complaints over Consumer Duty in Q1

Closed 265 whistleblowing cases between January and March

Michael Nelson
clock 11 May 2026 • 2 min read
Ex-investment adviser sentenced to additional prison time

Ex-investment adviser sentenced to additional prison time

Richard Faithfull failed to pay back £529,961

Sophia Panayi
clock 11 May 2026 • 2 min read