New free financial advice plan aims to help Britons build savings
The UK government has launched a new initiative called 'targeted support' to provide free, non-personalized financial guidance on investments and pensions through authorized banks and financial firms. The Financial Conduct Authority (FCA) regulates the service, which aims to help millions of Britons with savings make better financial decisions. A public campaign featuring a character called Savvy Squirrel is also promoting the shift toward greater retail investment.
- ▪The 'targeted support' service allows authorized financial firms to offer free investment and pension guidance without charging fees or accepting commissions.
- ▪Around 7 million UK adults have £10,000 or more in cash savings and may benefit from considering investment options.
- ▪The FCA estimates that fewer than one in 10 people in the UK seek regulated financial advice, with many instead turning to social media for guidance.
- ▪Quilter and Royal London are among the first financial firms authorized to offer the new service.
- ▪The government-backed Savvy Squirrel campaign aims to encourage cautious savers to consider investing through a CGI character and public outreach.
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The UK government has launched a Savvy Squirrel advertising campaign to encourage more people to start investing. Photograph: James Speakman/PAView image in fullscreenThe UK government has launched a Savvy Squirrel advertising campaign to encourage more people to start investing. Photograph: James Speakman/PAInvestmentsNew free financial advice plan aims to help Britons build savings‘Targeted support’ means certain banks and financial institutions can offer free extra help with investments and pensionsRupert JonesSat 2 May 2026 03.00 EDTSharePrefer the Guardian on GoogleMany Britons are daunted by the world of investing, but new City rules mean certain banks and financial institutions can offer free extra help with investments and pensions.Last month marked the launch of “targeted…
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