FCA opens targeted support authorisation gateway

The Financial Conduct Authority (FCA) has opened its authorisation gateway for targeted support, with firms now able to apply for permission to provide recommendations under the new regime.

The gateway has been opened ahead of the expected ‘go-live’ date of 6 April 2026, after which banks, pension providers, and other firms that have been authorised for targeted support can give suggestions aimed at groups of consumers with similar characteristics.

Targeted support aims to support consumers with making important decisions around their pensions and investments.

The FCA said it wanted authorised firms to be ready to offer the new service as soon as the rules come into effect.

It also hoped to see authorised firms taking advantage of the reforms by being ‘bold’ and providing support for their customers.

The regulator estimated that approximately 23 million consumers were currently underserved by the markets for advice and guidance.

“Targeted support will help fill the gap between generic guidance and individualised advice and help consumers access the support they need, at a cost they can afford, when they need it, so that they can make informed financial decisions,” the FCA stated.

“The opening of the targeted support authorisations gateway marks an important milestone in our work to help consumers navigate their financial lives.”

The FCA launched its Pre-Application Support Service (PASS) for targeted support last year, engaging with firms to ensure they understood what was expected for good quality and complete applications for targeted support regulated activity.

“We encourage firms with questions about the authorisations process to engage with us through the PASS,” the regulator said.

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

The ‘near-final’ rules for targeted support were published in December 2025.

This article originally appeared in our sister publication Pensions Age.

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