Royal London, the UK’s largest mutual life, pensions and investment provider, announces the launch of its Targeted Support ISA service.
This new digital offering is available to Royal London mobile app customers from today.
Royal London was the first business to receive regulatory permissions to launch a Targeted Support service, and has been involved from the outset through the industry working group, government engagement and the Financial Conduct Authority’s (FCA) policy sprint.
The Targeted Support ISA service is designed to help clients understand how investing works and if investing is right for them. If it is, Royal London will provide a free investment recommendation designed to suit groups of people with similar goals and circumstances
The service enables clients to take manageable steps today that can make a meaningful difference to their future finances. By encouraging positive behaviours and timely action, the service plays an important role in helping people to build financial resilience over the long term, alongside their workplace pension as they prepare for retirement.
Commenting, Ben Hampton, CEO of Advice at Royal London said:
“Innovation should be used to genuinely improve people’s financial outcomes, not add complexity. Our Targeted Support ISA service applies behavioural principles to help people make better, more confident investing decisions, building positive habits and helping clients act with confidence.
For many, this ISA journey will be an important step towards building long‑term financial resilience and, ultimately, a more secure retirement.”
This launch marks an important moment for Royal London, using technology to help more people take better financial decisions in an engaging and accessible way, while ensuring what it delivers is right for customers and rooted in its mutual mindset.
Royal London’s research shows that, when people receive financial advice, they view it as providing good or excellent value for money. However, with only 9% of individuals paying for full regulated financial advice, this leaves the vast majority of people navigating complex financial decisions on their own.
The introduction of Targeted Support represents a promising avenue to address this gap, enabling broader access to a new form of financial help. Royal London’s own modelling shows it could benefit 40% of UK adults.
