The Society of Pension Professionals (SPP) has issued a response to the Financial Conduct Authority’s (FCA) recent consultation, aimed at enhancing decision-making support for consumers in the pensions and investment sectors.
The FCA’s initiative, titled “Supporting consumers’ pensions and investment decisions: proposals for targeted support”, introduces the concept of targeted support, which is intended to help firms provide more personalised guidance to specific groups of consumers.
The FCA’s consultation document also presents preliminary thoughts on the simplification of financial advice and the clarification of the boundaries between advice and guidance.
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