Any New Physics lying at the TeV scale faces stringent experimental constraints, which are typically stronger for fermions of the first two generations. A well-known possibility to meet these constraints is to have New Physics coupled mostly to the third family. In general, this setup can be described in terms of a U(2) flavor symmetry acting on the light generations, which in turn can be used as an organizing principle for the SMEFT. In this talk I will present a comprehensive analysis of electroweak, flavor, and collider bounds on the complete set of dimension-six SMEFT operators in the U(2)^5 symmetric limit. I will show that, under under simple and non-tuned hypotheses for the parametric size of the Wilson coefficients at the high scale, all current bounds are consistent with an effective scale as low as 1.5 TeV. Finally, I will comment on mid- and long-term improvements in constraining this class of models, with an emphasis on the Z pole run of FCC-ee.