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Millions of British savers can access the new rules to help individuals to achieve their money better returns, since companies, including Hargreaves Lansdown and Vanguard Gear to offer such services.
Unveil one of the largest investment consultation in a decade Financial behavioral authority It would enable companies to make general suggestions without complying with all costly restrictions on providing personalized financial advice.
The move that the FCA described as a “unique generation” change in Great Britain Market for financial advicemeans, for example, that companies can propose groups of people who are in too much money that they could bring some to shares in order to achieve better returns over time.
Development takes place more than 10 years after the FCAS Review of the retail salesThe aimed at promoting the standards for financial advice, but ultimately increased its costs and many people in a “gap in advice” were unable to do such services.
The FCA said that the new regime was designed in such a way that more than half of the British savers said a survey that they wanted more support to invest their money.
The regulatory authority estimated that around 7 million British adults had more than 10,000 GBP of cash savings and no investments, and added that between 13.5 million and 30.6 million people could benefit from targeted support.
The regulatory authority said that it would advise the new activity of targeted support until December, so that companies can make groups of similar consumers generic suggestions.
This would no longer be recorded by the lack of requirements, making customers available a “personal recommendation”, including the implementation of detailed aptitude tests.
The FCA also plans to create a second, targeted category called “Simplified Rating”, with which companies can make customers suggestions for financial products based on a quick review of their “essential relevant facts” without carrying out a complete aptitude test.
Dan Olley, Managing Director of Hargreaves Lansdown, the British DIY investment page in Great Britain, said that the suggestions “will be really transforming to start a flourishing investment culture in Great Britain”.
“It is clear that there are important moments of life when too many people get into advice and cannot afford financial advice, but need more instructions than the rules allow,” he said.
According to Barclays, around 13 million adults in Great Britain have around 430 billion GBP cash, based on savers that have had more than six months of income in savings that could work in systems.
Tom Selby, director of public order at AJ Bell, said: “The existing regulatory framework makes it difficult to offer companies who do not use a financial advisor about relatively basic information.
The FCA said it aimed to approve targeted support services from April 2026, although working on simplified advice would take longer. According to estimates, around 100 companies would introduce targeted support services, many of them free of charge, and stated that they subsidize the costs of providing these products for other products.
James Daley, Head of the Fair Finance Consumer Group, said that the changes are “the right direction of the trip – but they have to be implemented with adequate security rails to protect consumers”. He added that customers “had to have confidence that these routes would not be a gateway to exploitation”.
Jon Cleborne, head of Vanguard near Europe, said: “These suggestions are the key to helping more people, to achieve the advantages of long -term investments and to achieve successful financial results.”
According to Verona Kenny, Chief Distribution Officer from Aberdeen advisors, more than 40 percent of people aged over the age of 40 admit almost no financial preparations for retirement. “This seems to be the best chance in a generation to tackle the problem,” she said.
