The U.K.’s Targeted Support Scheme, intended to provide millions of people with a newly created category of affordable regulated financial advice, went live on April 1. The U.K. government billed the scheme as a “once in a generation” change that will help millions to navigate their financial lives more effectively.
Targeted Support advisers are regulated by the Financial Conduct Authority (FCA). However, the scheme’s positioning between fully regulated individual advice and generic, non-regulated guidance creates ambiguity, which compliance teams in the sector must understand.
