Financial firms risk missing a golden opportunity in targeted support

Just 19 firms have used the Financial Conduct Authority's (FCA) Pre-Application Support Service to help them get authorised to offer targeted support, according to a widely reported freedom of information request from consultancy Sicsic Advisory. Rather than an omission, this should be seen as a striking opportunity. Banks, large advice firms and investment and pension platforms have a rare window to shape a new market before it fully forms. Few regulatory initiatives offer first mover advantage and public policy alignment. This one does. The targeted support regime, expected to becom...