FCA Targeted Support: What It Means for UK Savers
Your pension provider can now legally suggest a contribution rate, a specific fund, a drawdown level. The FCA calls it 'targeted support'. It is not advice and it is not free of conflict. Here is what you get.
Guidance vs targeted support vs regulated advice
| Feature | Generic guidance | Targeted support | Regulated advice |
|---|---|---|---|
| Personalised to you | No | Group-level only | Yes, full fact-find |
| Typical cost to you | £0 | £0 (firm absorbs) | £13k to £16k over 5 years |
| Firm liability | Low | Consumer Duty + FOS + FSCS | Full suitability liability |
| Live since | Always | 6 April 2026 | Pre-2012 (post-RDR rules apply) |
FCA estimates 23 million UK adults are underserved by the current advice market.
Key takeaways
FCA targeted support went live on 6 April 2026. Authorised firms can now make ready-made suggestions to groups of consumers who share similar circumstances, sitting between generic guidance and full regulated advice.
The FCA estimates 23 million UK adults are underserved by the current advice market. Fewer than 1 in 10 adults received regulated financial advice last year, mainly because it is priced out of reach.
Targeted support is not advice. The firm making the suggestion is usually the firm selling the product. There is no personalised assessment of your full circumstances, and the conflict of interest is baked in.
Used well, it can nudge under-savers and over-cautious investors in the right direction. Used badly, it is regulated marketing. The Consumer Duty, FOS and FSCS still apply, but the responsibility to think it through is yours.