The gateway for applications to offer targeted support to consumers will open in March 2026 ahead of the new rules coming into effect, the Financial Conduct Authority (FCA) has announced.

The FCA said that firms that apply through the gateway and show they are ready, willing, and organised to undertake targeted support will be authorised “swiftly” after the provisional go-live date in April 2026.

However, the government will need to pass new legislation before targeted support goes live.

Firms are able to prepare for the opening of the gateway through the FCA’s pre-application support service.

Targeted support will allow firms to send recommendations to consumers that are not based on an in-depth individual assessment, and firms will need to make sure their suggestions are suitable and only offered when it would put the consumer in a better position.

"Targeted support sits between generic guidance and full financial advice, allowing firms to offer tailored recommendations to groups of consumers who share similar characteristics, without triggering the full regulatory demands of personalised advice,” noted Alltrust Services managing director, James Floyd.

The FCA said that at least 18 million people could be offered extra support with their investments and pensions over the next decade through the introduction of targeted support.

Joint statements from the FCA with the Financial Ombudsman Service and the Information Commissioner’s Office will be published to clarify the approach to consumer complaints and redress, and how to consider existing direct marketing rules.

“Targeted support will be game changing,” said FCA deputy chief executive, Sarah Pritchard. “It means millions of people can get extra help to make better financial decisions.

“We also hope it will build greater confidence to invest. While investing will not be right for everyone, we know people in the UK invest less compared to the EU or US. People in the UK could be missing out on the potential benefits of investing in the medium to long term.”

Broadstone head of policy, David Brooks, added: “Targeted support has the potential to close one of the most persistent gaps in the UK pensions and investment system which currently sees millions of people making long-term financial decisions with little to no guidance or financial advice.

“Empowering firms to give consumers clearer, more tailored nudges is a sensible and pragmatic step that should deliver better outcomes for more savers and investors.

“The targeted support announcement follows hot on the heels of a landmark package of proposals issued by the FCA earlier this week to encourage greater investment and clearly defines the regulator’s direction of travel.

“There is now a clear and concerted mission to extol the benefits of investment and its ability to deliver long-term financial security.

“Key to the success of this initiative will be execution. Firms will need absolute clarity on the advice/guidance boundary to support complex decision making and to ensure that targeted support does not create new risks or uncertainty."

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