What happened: A new regulated service called 'targeted support' has been introduced, allowing certain banks and financial firms to offer free advice on investments and pensions. This aims to help customers find products that may offer better returns.
Why it matters:
- It could improve financial literacy and savings among Britons who find investing complex.
- Customers gain access to free guidance on pensions and investments, potentially enhancing their financial security.
MNN Take: The new rules enable some financial institutions to provide free, tailored advice, making it easier for people to make informed decisions about their savings and retirement plans.
Sources: Guardian UK