James Hay, part of the Nucleus Financial Platform has partnered with data tech provider Origo on its Unipass letter of authority (LoA) service.
The Unipass service will go live on the James Hay platform on 3 July and aims to significantly improve the LoA process for both advisers and their clients.
It will also allow advisers to track the process from start to finish and provide a higher level of security and GDPR compliance.
Consultancy the Lang Cat released a paper in Q3 2022 that showed that advisers were frustrated with LoA services that take too long to process.
Nucleus customer and business operations director Steve Knight said: “As a platform our main purpose is to help improve the adviser experience and we are constantly looking for ways to invest in and improve adviser interactions.
“This is a fantastic example of how we can do this. Origo’s digitised solution transforms the current process, providing a faster more client friendly service which in turn allows advisers to spend their time on more value-add support for their clients. We’re working on bringing the same efficiency to the Nucleus platform soon.”
Origo chief executive Anthony Rafferty added: “With the Consumer Duty requiring companies to look at every aspect of their business to ensure good outcomes for consumer’s and avoid foreseeable, harm, providers are quickly realising the benefits Unipass Letter of Authority delivers for them, advice firms and the end client.
“We expect to see more companies turn to technology to help them address the pain points in their processes and to ensure their service levels deliver against the new rules.”
