This episode of Professional Adviser TV sees Percy-Baxter Wealth Management financial adviser Natasha Percy-Baxter and Saturn co-founder Rohit Vaish join the team in the studio to talk about the letters of authority (LOA) process and the frustrations that delays are causing advisers.
LOAs are a crucial step in client onboarding and pension tracking and have been described as "horrendous" by Percy-Baxter, who has called for industry-wide standardisation. Speaking on Professional Adviser TV's Advice Lens series, Percy-Baxter said LOAs can be a powerful tool but inefficiencies and inconsistency across providers are undermining their effectiveness. "LOAs could be really magical. I position it to clients as taking admin off their shoulders but that magic's being destroyed by the inefficiency and inconsistency in the process," she said. She added: "Some clients handl...
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