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UK FCA tries to close financial-advice gap with ‘targeted support’

( June 30, 2025, 00:01 GMT | Official Statement) -- MLex Summary: The UK Financial Conduct Authority is attempting to improve access to financial advice through a new proposal, after it found that in the 12 months to May 2024, just 9 percent of people received regulated advice on their pensions and investments. The FCA’s proposal would allow firms to offer a new type of help — called “targeted support” — and make suggestions to groups of consumers with common characteristics. There are about 7 million adults in the UK with 10,000 pounds or more in cash savings who may be missing out on the benefits of investing throughout their lives, the FCA said. The proposal is under consultation until Aug. 29, and the new framework would take effect at the beginning of 2026.Statement follows....

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