Royal London receives regulatory approval to deliver targeted support

Royal London, the UK’s largest mutual life, pensions and investment provider, today announces it has received regulatory approval to deliver Targeted Support – a new form of regulated financial help.

Involved from the outset via the industry working group, government engagement and the Financial Conduct Authority’s (FCA) policy sprint, Royal London has played a leading role shaping and delivering Targeted Support and is now one of the first businesses to receive regulatory permissions to launch.

Commenting, Ben Hampton, CEO of Advice at Royal London said:

“From the start, we’ve worked closely with the FCA to help design a framework that allows innovation to flourish while maintaining strong consumer protections, empowering millions of people to take better financial decisions.

“Our investment in technology and digital capability means we will deliver Targeted Support in a way that is scalable, responsive and rooted in good customer outcomes. The regime creates a sliding scale of help, allowing people to access different levels of support depending on their needs, and at moments that really matter.”

Targeted Support is designed to complement, not replace, fully individualised financial advice. For many people, it will act as a bridge, helping them make better decisions today, while building confidence and engagement that may lead to individual advice in the future.

Royal London modelling shows that 21.5 million people in the UK could benefit from Targeted Support, highlighting the scale of unmet need.

Ben Hampton added:

“Being customer-owned means Royal London prioritises long-term financial sustainability over short-term shareholder returns – and can take a fundamentally different approach. Purely driven by the best interests of our customers, we’re ideally positioned to deliver meaningful, accessible, and impactful Targeted Support in a responsible and effective way – at scale.”

Royal London is defining and shaping how Targeted Support builds its customers’ financial resilience and will share further detail on the scope of its Targeted Support offering in due course.