Letter of authority 'major stumbling block' for advisers - research

The white paper, which was published by NextWealth on behalf of Origo, considered areas of frustration and costs for advisers and clients during the onboarding process. In particular, every firm that was surveyed expressed delays and frustration with LOAs. When asked what concerns they had with such letters and the onboarding process, advisers said they are worried that the information requested is not standardised, and therefore several different versions may need to be prepared for a single client, requiring significant additional time for rework. They are also concerned that the su...