In the world of electronics, the phrase “in the loop” has a logical function. For example, if A is true do X, if A is false do Y. In the 1960s this phrase was adopted to aircraft control systems, and in particular, when should the pilot be bought back into a control situation.
Apparently, the Mercury program (Americas early ventures into manned Earth orbit) decided to keep guidance systems fully automated as the effects on human reactions to weightlessness were an unknown.
This was fine until John Glen’s flight developed a problem, readings suggested that the Mercury craft heat shield was loose. Accordingly, he was bought back into the loop to take over manual control of re-entry.
The phrase is now widely used to describe any situation where a person or group is kept informed: either to join in a decision making process or take over control. This, of course, sets up a continuous dilemma, when should a party be kept in or out of an information loop?
Professional advisors would have no time to actually “do” much if they were required to keep clients informed of every action they undertake on a client’s behalf. Which means they need to be selective about the information they do share.
Apart from management of clients’ affairs advisers need to deal with “new information”: changes to the tax code for example. It obviously serves the best interests of clients if they are kept informed of these changes.
Outsourcing this task is clearly beneficial. For the monthly cost of say one or two chargeable hours practitioners can have their clients and prospects emailed with updates on relevant tax changes and other matters that may impact their personal or business financial affairs.
This is a service that we provide to a growing network of practices across the UK. If you are still attempting to provide a news service to clients in house and are concerned by the amount of time that this process is consuming please give us a call.
Keeping your clients in the loop is what we do.