That’s all very well, and we’re happy to have been officially paper-free for many years now; as in we don’t have any paper files, everything’s stored securely online and it all works very well. We, as advisers are not the problem. It’s the many providers, with presumably huge IT (is it still called that?) departments which seem incapable of doing stuff in a 21st century, online manner. We still get 2 or 3 letters a day from each of half-a-dozen big insurance and pension companies, all of which we have to open, scan and shred. OK, it keeps a postie or two in a job, but otherwise, what an utter waste of time, money, and effort. Ask them why, and they’ll blame ‘legacy systems’ which are apparently too expensive and complex to change and just can’t stop churning out the paper. Which, of course, we’re all paying for on a daily basis…
“Letter of authority: Why now is the right time for change”
This may sound like a non-issue from outside the world-of-financial-advice bubble. It is the bain, however, of the daily working lives of many of us, particularly of those paid by we advisers to do the dirty work of dealing with the many providers with whom we have to work.
