Aviva has secured regulatory approval from the Financial Conduct Authority to provide targeted support to its customers, becoming one of the first major insurers to receive permission under the regulator's new regime.
The insurer plans to launch the service from summer 2026 in a phased rollout, with the initial focus on pension customers. The service will use a combination of prompts and suggestions to help customers take financial decisions based on what typically works for people in similar situations, without replacing full regulated advice.
The FCA has described targeted support as a once-in-a-generation change, estimating that around 23 million consumers are currently underserved by the markets for advice and guidance. The regime sits between full financial advice and generic financial guidance, designed to empower consumers to make better decisions about their pensions and investments while reducing the prohibitive cost barrier of traditional advice.
The FCA finalised its rules on February 26, 2026, with the regime going live on April 6. It emerged from the joint Treasury and FCA Advice Guidance Boundary Review, representing the biggest reform of the financial advice and guidance landscape in more than a decade.
Aviva is not alone in moving quickly under the new framework. Legal & General has also received FCA approval, with its first live use case focusing on defined contribution workplace pension members whose savings are fully invested in cash, a situation that can limit growth and erode value in real terms due to inflation. The two approvals signal that the largest players in the UK life and pensions market are treating the new regime as a strategic priority from the outset.
Only 9% of people in the UK are believed to take full financial advice today, leaving the vast majority to navigate complex financial decisions without formal support. Yvonne Braun, director of policy for long-term savings at the Association of British Insurers, welcomed the regime at its launch, saying it has "the potential to make a real difference to people's financial lives" and will "empower millions" at a time when the advice gap remains stubbornly wide.
Michele Golunska (pictured), managing director of wealth at Aviva, said the approval marked an important milestone. "Millions of people are having to make complex financial decisions without the guidance they need. Targeted support gives us the opportunity to provide people with the help they need in a more practical way.
"We will evolve our targeted support service; testing, learning and building over time. It's important we get things right for our customers. Our ambition is to create a service that feels accessible and easy to use. It will help customers take the next step with confidence and we are committed to playing our role in supporting our customers' financial futures," she added.
The regime carries significant obligations for participating firms. Providers must identify consumers with shared financial support needs, design suitable ready-made suggestions for those segments, and regularly monitor outcomes, with the Consumer Duty continuing to underpin the entire framework. The FCA has been explicit that firms must not make biased recommendations towards specific products for commercial reasons, and that consumers must understand the support they receive was designed for groups rather than constituting individualised advice.
The picture is more nuanced than straightforward competitive threat. A survey of 200 IFAs by Opinium in March 2026 found that 46% believe access to targeted support would make consumers more likely to seek independent financial advice, with only 19% viewing it as damaging to regulated advice demand. Ben Hampton, CEO of Advice at Royal London, has described targeted support as "a vital bridge, not a substitute" for full advice, saying it creates "an accessible entry point to advice for more people earlier."
Aviva will build out the service over time through customer feedback, ongoing testing and regulatory engagement.
With Aviva and Legal & General both now approved, the UK's two largest life and pensions groups are moving in lockstep on a reform that has the potential to reshape how millions of consumers engage with financial products for the first time. How quickly the rest of the market follows will be one of the defining stories of the regulatory year.
