Q1: Is there a cost for using the automated LoA process?

A: The automated LoA process is free during the beta phase. While we currently offer this feature at no charge, please note that the beta period is temporary, and we will notify you in advance when it is set to conclude.

Q2: How does Timeline’s integration with Pension Lab improve the LoA process?

A: Timeline’s integration with Pension Lab automates the entire Letters of Authority (LoA) process. This means less paperwork, fewer errors, and faster data retrieval from financial institutions. The result is a smoother, more efficient onboarding experience for both advisors and clients.
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Q3: How does the digital signature process work for clients?

A: Clients only sign once, no matter how many LoAs are needed. When a client needs to sign a LoA, they’ll receive an email where they can review the document and sign it digitally using a secure platform integrated with Timeline. It’s quick, easy, and secure.
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Q4: How are real-time updates provided during the LoA process?

A: Advisors receive real-time updates via the Timeline when the client signs the LoA, when we chase the provider when there is a data mismatch, and when the LoA is completed.
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Q5: What should I do if there is an error or issue with the data retrieved?

A: If the data retrieved is faulty, the provider will send you a note with instructions on how to resolve the issue. If further assistance is needed, contact Timeline’s support team, who will work with Pension Lab and the relevant financial institutions to address the problem.

Q6: Can I manually contact the provider if needed?

A: Yes, you can always contact the provider directly by phone or email to request information or manually chase up the status of an LoA. This option is available at any time during the process.
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Q7: How does the automated LoA process benefit clients?

A: Clients enjoy a faster, smoother onboarding process with expected timelines and digital journeys.

Q8: How long does it typically take to complete the LoA process using the automated system?

A: The time it takes can vary depending on how quickly the financial institutions respond. However, the automated system is much faster than the traditional manual process and conducts automatic chasing dynamic to each provider’s typical LoA timescales..