Targeted support

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

The editor's Friday Night Takeaway from 4 July

One firm estimated IT costs of £1m a year alone

Considered prescribing how firms should support ‘vulnerable consumers’

'This does not compete with financial advice. It's an early stepping stone on the advice journey'

Firms could generate up to £499 in revenue per customer

FCA working with Information Commissioner’s Office on solutions

FCA urges firms to treat all recipients of targeted support as retail customers

Proposes to exclude products subject to marketing or distribution restrictions

Firms must signpost consumers to MoneyHelper’s annuities comparison tool