Designed to bring greater clarity and consistency to Letters of Authority (LoAs) data requests, this latest checklist addresses the specific challenges faced when accessing investment information. It follows the positive uptake of our previous data checklists for DC pensions and protection, which saw strong engagement from advisers, providers, and compliance professionals alike.

By expanding our LoA Checklist into the investment space, we’re continuing our mission to reduce friction in the LoA process and support better outcomes for both clients and the industry.

Justine Pattullo, Founder of the Fix LoA Action Group (FLAG):

At the FLAG we've been focused on solving the longstanding challenges around LoAs, and these checklists are a step in the right direction. This latest version for the investment market is a clear example of how the industry can work together to simplify processes, reduce delays, and ultimately improve the experience for clients and advisers. It’s encouraging to see practical tools like this being developed and adopted within the industry.

Charlotte Hughes, Advice Proposition Lead at Quilter: 

For many clients, one of the first steps they take with their adviser during the financial advice journey is the Letter of Authority. But in too many instances, this first step can become a painful experience, due to a reliance on outdated technology and communication methods, or vital policy information being missed out of replies when they do arrive. Changes such as the Advice Guidance Boundary Review and the Pensions Dashboard are predicted to cause an increase in Letter of Authority volumes, so we as an industry should be doing all we can now to improve this experience, both for our people and our clients. The work that Criterion is doing, in creating an industry-standard Data Checklist for use with Letters of Authority, represents exactly the sort of action our industry should be taking. I’m delighted to have been a part of the collaborative approach Criterion has taken when designing this checklist - and being able to share the knowledge I gained from supporting financial advisers for many years - to produce something which helps us all create better client outcomes.

Nick Green, Strategy and Proposition Director: 

By equipping advisers with a clear, consistent checklists, we're not just simplifying the LoA process, we're also shining a spotlight on where inefficiencies persist. The aim is to modernise data-sharing practices and reduce friction across the industry, starting with a shared view of what good LoA practice looks like and – ultimately - through adoption of our LoA API Standards. Change is possible when there's shared visibility and a collective push for better solutions.

Your role in fixing LoAs

This final checklist marks an important milestone, but it’s only the beginning. Real change will only happen if advisers use these tools and their voice to shine a light on inefficiencies and demand better. By becoming advocates for standards and putting pressure on providers to adopt them, advisers can help transform the LoA process into something that truly works for clients, firms and the industry. 

Get in contact with us to learn more about what you can do to help fix LoAs at [email protected].