Advice Guidance Boundary Review (AGBR) – Targeted Support Policy Sprint

Agenda

The Sprint was part of our work to bridge the gap between information and guidance, and more comprehensive forms of investment advice.

It tested our proposals for targeted support, where firms provide suggestions for groups of consumers with common characteristics, to help them make important decisions.

Read more about targeted support[1]

Participants included:

• retail banks
• investment platforms
• wealth managers

While we regularly run TechSprints[2] to address industry challenges, this was the first time we used this method to gather evidence and insight from industry stakeholders, including trade bodies and members of the regulatory family, to help develop a policy framework that is data driven and effective.

Outcomes

Over 6 weeks, 12 FCA-authorised firms designed, built and tested digital consumer journeys.

We wanted to explore how well consumers:

• Engaged with and understood targeted support.
• Knew they weren't receiving a personal recommendation.

Participants created the customer-facing elements of the journey, giving consumers ‘ready-made suggestions’ of investment options.

These 'cash-to-investment' journeys were aimed at inexperienced investors, with:

• At least £10,000 in investable cash.
• An emergency fund.
• No need to access their money within the next 5 years.

Teams used our Digital Sandbox[3] to develop solutions in a safe environment.

Firms were mentored by trade bodies and other regulatory partners, such as the Financial Ombudsman Service (FOS) and Information Commissioners Office (ICO).

Showcase 

Firms shared insights at a showcase day on 8 April 2025. They presented a wide range of solutions to help consumers make better-informed investment choices.

Targeted groups included:

• Cash savers looking for income later in life
• Younger, inexperienced investors with small amounts to invest from monthly income.
• Customers approaching an investment platform for the first time, having no previous relationship with that company.

Next steps

The event helped us understand how consumers are likely to react to our targeted support proposals, informing our policy plans.

Read our Policy Statement (PS25/22)[4] setting out our near-final rules.