Royal London launches Targeted Support ISA service

Royal London has announced the launch of a Targeted Support ISA service, with the new digital offering available to the company’s mobile app customers.

The mutual life, pensions and investment provider said the Targeted Support ISA service is designed to help customers understand how investing works and includes a free investment recommendation designed to suit groups of people with similar goals and circumstances.

Royal London became the first business to receive regulatory permissions to launch a Targeted Support service, having been involved from the outset through the industry working group, government engagement and the Financial Conduct Authority’s policy sprint.

Targeted Support enables customers to take manageable steps to make a meaningful difference to their future finances. By encouraging positive behaviours and timely action, the service intends to play an important role in helping people to build financial resilience over the long term, alongside their workplace pension as they prepare for retirement.

“Innovation should be used to genuinely improve people’s financial outcomes, not add complexity,” commented CEO of Advice at Royal London, Ben Hampton.

“Our Targeted Support ISA service applies behavioural principles to help people make better, more confident investing decisions, building positive habits and helping customers 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.”

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