The U.K. Financial Conduct Authority (FCA) on Thursday outlined several key areas of focus in its strategy to deal with the United Kingdom’s aging population, and the need for the financial industry to meet the needs of an older client base.

Among other things, the regulator says that its efforts will include examining whether there are barriers to innovation that might be preventing the industry from developing products suited to senior clients.

The FCA will also look at how best to protect older people in vulnerable circumstances. “To take this issue forward, we will work with other parties, such as trade bodies, to understand whether more can be done to improve outcomes for vulnerable consumers, over and above the initiatives already underway across financial services markets,” the FCA says in a news release.

On the issue of advice, including robo-advice, the U.K. regulator’s newly created advice unit “will work with industry to provide regulatory feedback on automated advice models,” the FCA adds.

A government consultation is underway that is assessing the delivery of publicly funded financial guidance for topics such as pensions and debt, the FCA notes.

Additionally, the regulatory is examining whether there is a role for regulating advice on the issue of entering, and financing, long-term care. “We are doing some discovery work to assess whether there is a role for the FCA in the way advice and information is delivered to consumers about their options for funding this significant expense,” the FCA says.

The FCA is planning to launch its “ageing population strategy” in the summer of 2017, following ongoing consultations with various factions, including both bilateral meetings and roundtables on key issues.

“We all rely upon the financial system to help us meet even our most basic needs, such as paying bills, or receiving pension income, and it is imperative that all consumers, including older consumers, are able to access the services they need, with adequate protections in place for when things go wrong,” the FCA says.

The traditional concept of retirement is evolving as demographics change, the FCA notes. “Demographic change offers a range of opportunities and challenges that both the industry and regulators need to address for the future,” it says.