Whitepaper | LoA Process: Just Fix It Already

Broken Letter of Authority Process in UK Wealth Management

The Letter of Authority process is an integral part of onboarding new clients. Yet despite its importance, it remains a painful and often frustrating process for all involved – advisers, providers and ultimately clients. This is not only a drain on our collective time, but leads to repeatedly poor client experience overall.

But change is possible. We only need to look at the transfer process for evidence of this. While we acknowledge there’s still work to be done, at Origo we’re proud to have played our part in improving the transfer process, making it digital, and significantly speeding up processing times.

What if we could do the same for Letters of Authority? And what would it take to dramatically improve the process we have now?

Before we could arrive at the solution, we first needed to quantify the problem.

That's why we asked our friends at the lang cat to ascertain the real impact of the Letter of Authority logjam. The lang cat surveyed more than 200 advisers to help us qualify the problem and to conduct more in-depth interviews with advice firms to explore some of the themes in detail. We have compiled their research to produce a Whitepaper, “LoA Process: Just Fix it Already” which highlights the problems in the process, the scale of them, and what a better future could look like.