On 28 March 2025, the Financial Conduct Authority (FCA) published a speech by its CEO, Nikhil Rathi, entitled On the right track: Connecting consumers, products and growth.

Highlights include:

• At a time when increasing pensions contributions substantially is out of the question or insufficient for many, the FCA must focus instead on how to improve outcomes through better returns, risk alignment and support. This will require open, collaborative and forward-looking conversations about trade-offs, and the FCA should be willing to think boldly and holistically across retail markets.
• The FCA is working with partners across the system on initiatives such as Targeted Support and pensions dashboards, to drive better consumer outcomes at scale and encourage a shift in focus from cost to long-term value.
• It is no exaggeration to say that the FCA wants the Advice Guidance Boundary Review to trigger an advice revolution. 
• In partnership with HM Treasury, the FCA will consult shortly on its proposed new model – Targeted Support – aiming to fill the gap between generic factual guidance and regulated advice for pensions and investments.