Quilter has launched a new targeted support offering through Quilter Invest, aimed at helping consumers in the early stages of their investment journey and providing advisers with a solution for clients who may not yet require full financial advice.

The Financial Conduct Authority (FCA)’s targeted support regime came into effect on 6 April, aiming to bridge the gap between advice and guidance by allowing firms to offer tailored recommendations to groups of consumers with similar characteristics.

Royal London and Quilter were among the first firms to receive regulatory permissions from the FCA to deliver targeted support.

The wealth manager and financial advisory firm said its proposition was designed to offer a practical route into investing through targeted support, while allowing customers to move into holistic financial advice as their circumstances become more complex.

Under the service, customers complete a short assessment that examines their investment attitudes, capacity for loss and approach to risk.

The results are then used to determine whether investing is appropriate before customers are placed into a relevant segment and guided towards a suitable investment option.

Quilter said the proposition could also help advisers build relationships with individuals whose financial needs are currently straightforward but who may require more comprehensive advice in the future.

Commenting on the launch, Quilter CEO, Steven Levin, said: “While holistic advice is often the right solution for those with more complex financial needs or multiple objectives, we recognise that not everyone needs it or can access it.

“Too often, that leaves people facing important financial decisions on their own.”

Levin stressed that the firm believes in providing “the right support at the right time” to help people achieve better financial outcomes.

“Targeted support provides a simple way to get started, reaching people who have historically fallen outside the advice framework and offering proportionate help at the point of decision-making,” he continued.

“It can also act as a pathway to advice over time, enabling customers to build confidence now and move into fuller financial planning as their needs evolve.”

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