Letter of authority: Why now is the right time for change

'Digital laggards might well find it hits their bottom line'

clock • 3 min read

Anthony Rafferty explains why he believes 2024 will be a pivotal year for digitising the letter of authority process...

Talk to any adviser, paraplanner or administrator in a financial advice firm and one of their major frustrations will be how providers deal with their letter of authority requests. This is well known, and has been well documented, notably via three pieces of in-depth research amongst advice firms by The Lang Cat. It is right that this process – the legal document, signed by the client, which allows their adviser to act on their behalf with providers – receives ever more focused attention. It's a process that affects not just efficiency and costs for advice firms but the quality of the...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Aviva's wealth arm grows despite £1.7bn overall outflows

Aviva's wealth arm grows despite £1.7bn overall outflows

For the nine months to 30 September 2024

Sahar Nazir
clock 14 November 2024 • 1 min read
Financial advice exam costs continue to rise

Financial advice exam costs continue to rise

Level 4 offerings see biggest price jump

Isabel Baxter
clock 14 November 2024 • 3 min read
Vulnerability taboos deterring clients from seeking additional adviser support

Vulnerability taboos deterring clients from seeking additional adviser support

Industry needs to ‘reshape the dialogue’ around vulnerable clients

Isabel Baxter
clock 14 November 2024 • 3 min read