The UK launches the largest financial advice in more than a decade

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Millions of British savers will be able to reach “targeted support” in light of new rules to help individuals get better returns on their money, such as companies including hagrayaves Lansdown and Vanguard Tear to provide such services.

It unveiled one of the largest disposal of investment advice for a contract, Financial behavior authority He said that it would allow companies to make general suggestions for consumers without the need to meet all the costly restrictions involved in providing personal financial advice.

This step, which FCA described as “once in the generation” to the United Kingdom Financial advice marketIt will mean that companies can suggest, for example, to suggest groups of people sitting on a lot of money they can put in stocks for better returns over time.

The development comes after more than 10 years after FCA Review of retail distributionWhich aims to increase financial advice standards, but eventually led to increased cost and left many people who are unable to bear the costs of these services in the “advice gap”.

FCA said that the new system was designed to help more than half of the British savers, who have told a recent survey that they wanted more support on how to invest their money.

The organizer estimated that about 7 million British adults have more than 10,000 pounds of cash savings, not investments, adding that between 13.5 million and 30.6 million people can benefit from the targeted support.

The organizer said it would consult about the creation of rules for the new activity of the target support by December, allowing companies to submit general suggestions to groups of coherent consumers.

This will not be discovered through the arduous requirements involved in submitting a “personal recommendation” to customers, including having to make detailed appropriate assessments.

FCA is also planning to create a more targeted second category called “simplified advice” that allows companies to make suggestions for customer products to customers based on a quick review of their “basic relevant facts”, without making a full convenience assessment.

DIY, the UK’s largest investment site in the United Kingdom, said the proposals “will be truly transformative in the start of the prosperous culture culture in the UK.”

He said: “It is clear that there are moments of major life where many people are discovered in the advice gap, unable to provide financial advice, but they need more instructions than the rules allow.”

According to Barclays, about 13 million adults in the UK maintains about 430 billion pounds of money, based on savings who already have more than six months of savings income, which can be placed in investments.

“The current organizational framework makes it difficult for companies to provide anything that goes beyond relatively basic information” to customers who do not use a financial advisor, “said Tom Silby, AJ Bell’s general policy,” The current organizational framework makes it difficult for companies to provide anything that goes beyond relatively basic information, “for customers who do not use a financial advisor.

FCA said it aims to authorize targeted support services starting from April 2026, although her work on simplified advice will take longer. She estimated that about 100 companies will launch targeted support services, many of which are free, and she could intersect with the cost of providing them at the price of other products.

James Dali, head of the consumer group, said that the changes were “the right direction of travel – but they must be implemented with sufficient safety bars to protect consumers.” He added that customers need “confidence that these methods will not be a gateway to exploitation.”

“These proposals are the key to helping more people reach the benefits of investment in the long term and achieve successful financial results,” said John Cleporen, head of the Vanguard for Eurobe team.

More than 40 percent of people over 40 years have admitted that almost any financial preparations for retirement, according to Viruna Kenny, Aberdeen’s chief distribution staff. “This seems the best chance in a generation to address the problem,” she said.