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...

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