Log your LoA pain

Your voice can make a difference

It takes 2 minutes.

Success, thank you!

Question 1: You are:

Question 2/4: As an estimated overall total, how many LoAs do you process every month (this number can be an average or guideline)?

Question 3/4: Do you outsource the processing of LoAs to a third party?

Question 4/4: Enter FCA number (to make sure we are not double counting)?

Question 2/5: How many advisers do you have in your firm?

Question 3/5: As an estimated overall total, how many LoAs do you process every month (this number can be an average or guideline)?

Question 4/5: Do you outsource the processing of LoAs to a third party?

Question 5/5: Enter FCA number (to make sure we are not double counting)?

Question 2/3: How many advisers (total number of individuals) do you act on behalf of?

Question 3/3: As an estimated overall total, how many LoAs do you process every month (this number can be an average or guideline)?

Question 2/4: As an estimated overall total, how many LoAs do you process every month (this number can be an average or guideline)?

Question 3/4: Do you outsource the processing of LoAs to a third party?

Question 4/4: Enter FCA number (to make sure we are not double counting)?

Thank you, to submit your numbers and receive your bespoke LoA cost report, please enter your business email address. In due course, we will also send you details of the aggregate LoA volumes.

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Thank you for supporting the #LogYourLoAPain initiative. Please check your email for your LoA time and cost report. Please share with others so we can collectively count our way to a solution!

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Counting towards a solution

Advisers and Planners, seize the chance to tackle the LoA pain in our industry! We've all felt the frustrations, but now it's time to quantify the scale of the issue. Let's work together to define it and drive improvements. By joining forces, we can ensure individuals get the timely service they deserve. Let's make a positive impact - act now!

What you get back:

  • Bespoke report: Based on the numbers you provide you will receive a bespoke report that details the annual cost of your current LoA (this will be downloadable and emailed to you for safety).
  • Industry report: During Q1 2024, we will issue an industry report with the aggregated results. You will receive a copy of this report too.
  • Attention from Regulators and wider-industry: The aggregated results from all validated inputs will be made available to regulators (FCA and TPR), as well as wider industry to draw attention to the scale!
  • Satisfaction knowing that you played a pivotal role in defining the scale, bringing the LoA process to attention and so ultimately driving improvements for all parties involved. Let's do it.

An industry backed initiative

We're delighted to have a range of companies supporting this initiative

The hidden costs of LoAs:

  • Client Onboarding Delays: Onboarding can stretch 6-12+ weeks, causing frustration.
  • Chasing LoAs: Lack of automated tracking results in LoAs slipping into the void, leaving clients in the dark about progress and completion estimates.
  • Data Rekeying Risks: Manual rekeying of returned data amplifies error risks in the process.
  • Aged Requests: Delays lead to aging requests, often requiring restarts and exacerbating inefficiencies.
  • Outdated Signatures: Some providers insist on outdated wet signatures, or in some cases, lack any stored signature, forcing clients through an antiquated process.
  • Advice Experience Impact: Cumulatively, these issues contribute to a poor advice experience and potential loss of business.

Get involved

The #LogYourLoAPain is a collaborative initiative, and we welcome support from across the industry.

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