FCA opens authorisation gateway for targeted support permissions

The FCA has opened the authorisation gateway for firms to apply for permission to provide targeted support.

From 6 April 2026 banks, pension providers and other financial firms authorised for targeted support can provide consumers with investment suggestions based on their shared common characteristics.

The regulator has said it wants authorised firms to be ready to offer the new service as soon as the rules take effect and “to be bold and provide support for their customers”.

The new rules are designed to address the swathes of disengaged consumers, with an estimated 23 million people currently underserved by the markets for advice and guidance, by helping to fill the gap between generic guidance and individualised advice.

“We welcome the engagement we have had so far with firms developing their targeted support propositions and look forward to this continuing engagement,” the FCA said.

Firms can submit applications for targeted support permissions through the FCA’s online service Connect.