New FCA "Providing Targeted Support" Permission: Frequently Asked Questions
What is the FCA's "Providing Targeted Support" Permission?
Providing Targeted Support is a new FCA regulated activity designed to help close the UK's long-standing "advice gap".
It allows authorised firms to provide suggestions to groups of consumers with similar characteristics and circumstances, without delivering fully personalised regulated financial advice. The FCA describes targeted support as sitting between generic guidance and individual financial advice.
The new permission forms part of the FCA's wider Advice Guidance Boundary Review and is intended to help consumers make better pension and investment decisions.
Why Has The FCA Introduced Targeted Support?
The FCA estimates that millions of consumers could benefit from additional help with pensions and investments but do not currently access regulated financial advice. The regulator believes targeted support can help bridge the gap between generic guidance and personalised advice.
Examples might include consumers who:
Hold large amounts of cash in low-interest accounts
Are under-saving for retirement
Have poorly diversified investments
Have not reviewed their pension arrangements for many years
Under the new framework, firms can provide targeted suggestions designed for groups of consumers with common characteristics.
Is Targeted Support The Same As Financial Advice?
No.
Traditional regulated financial advice involves assessing an individual's personal circumstances, objectives, risk tolerance and financial position before making a recommendation.
Targeted support works differently.
Firms create consumer segments based on shared characteristics and provide suggestions designed to improve outcomes for the typical consumer within that segment. The support is not tailored to an individual's complete circumstances and does not constitute a personal recommendation.
Who Can Apply For A Targeted Support Permission?
Existing FCA-authorised firms that wish to provide targeted support will need to apply to vary their permissions.
The FCA opened its application gateway for firms seeking the new permission in 2026 and has been providing support through its Pre-Application Support Service (PASS).
Potential applicants may include:
Wealth managers
Investment platforms
Pension providers
Asset managers
Retail investment firms
When Does The New Permission Come Into Effect?
The FCA finalised the targeted support rules with implementation beginning in 2026. Applications for firms wishing to provide targeted support opened in 2026 following publication of the FCA's policy statement.
Why Does This Matter For Financial Services Companies?
Targeted support is one of the most significant changes to the retail investment and pensions market in years.
Firms that obtain the permission may be able to:
Increase customer engagement
Improve pension outcomes
Reduce consumer inertia
Create new digital advice journeys
Reach consumers who would not otherwise seek financial advice
The FCA estimates that millions of consumers could ultimately receive targeted support under the new framework.
How Can You Identify Firms With The New Permission?
As firms begin obtaining the permission, sales, compliance and business development teams will need to identify:
Which firms hold the permission
Newly authorised firms
Firms entering the targeted support market
Key decision-makers responsible for advice and customer propositions
This information will become increasingly important for:
RegTech providers
WealthTech companies
Advice software providers
Compliance consultancies
Pension technology providers
How TOVO Helps
TOVO continuously monitors FCA regulatory permissions, company data and regulated individuals across the UK financial services market.
As adoption of the new Targeted Support permission grows, TOVO customers can:
Identify firms with the permission
Monitor new market entrants
Track senior decision-makers
Build targeted prospect lists
Monitor changes to permissions over time
Rather than manually searching the FCA Register, customers can access a structured, searchable view of the market through a live database.
Frequently Asked Search Questions
What is the FCA targeted support permission?
A new FCA regulated activity that allows authorised firms to provide suggestions to groups of consumers with similar characteristics without delivering fully personalised financial advice.
Is targeted support regulated?
Yes. Firms must obtain the appropriate FCA permission before providing targeted support.
Is targeted support the same as financial advice?
No. Targeted support is designed for consumer segments and does not involve a full assessment of an individual's personal circumstances.
Which firms can offer targeted support?
FCA-authorised firms operating in pensions, investments and related retail financial services markets may apply for the permission.
How can I find firms with the targeted support permission?
You can search the FCA Register directly or use TOVO to identify and monitor firms holding specific FCA permissions.
