Barclays has received FCA approval to offer Targeted Support to eligible customers.
The service will be rolled out later this year in a phased approach to ensure positive customer outcomes and allow Barclays to refine and enhance the experience.
The move follows recent measures introduced by the bank to encourage people to invest, such as the launch of Planning and Advice and the removal of investment fees for Direct Investing customers.
Research by Barclays shows the UK’s investment gap grew by more than 30% between 2022 and 2024, with approximately 15 million UK adults holding over £610bn of cash that could be invested.
Mohammad Syed, head of private bank and wealth management UK and Crown Dependencies, Barclays said: “Many people recognise the importance of investing for their future but are often unsure about what action to take next.
“With around £610bn currently sitting in cash savings that could potentially be invested over the long term, there is a significant opportunity to help people make more informed decisions about their financial futures. Targeted Support has the potential to help bridge that gap by providing customers with more relevant support at key moments in their journey.”
He added: “This, alongside the changes we made to Direct Investing earlier this year, shows how we are taking a deliberate and responsible approach to implementation. Our focus is on helping customers make informed decisions, improving financial confidence and ensuring good outcomes over the long term.”
