Blog & News
Here at Retirement & Beyond Consultancy Services we pride ourselves in keeping all of our current and prospective clients up to date with important industry news relating to the various services we offer.
On this page you will find some of our own blogs, and pertinent industry articles. Should you wish to discuss the content in any detail please do not hesitate in getting in touch with us.
Blog Articles
Prepaid Funeral Plans
- the journey to FCA authorisation
October 2023
The Prepaid Funeral Plan
market became regulated by the FCA
(Financial Conduct Authority) on 29th July 2022.
The following providers are now Directly Authorised ("DA") by the FCA to carry out, administer, and continue selling, prepaid funeral plans:
- Alternative Planning Company Ltd (‘Choice’, as operated by Funeral Partners)
- Aura Life
- Avalon (UK & Europe)
- Celebration of Life
- Central England Co-operative Ltd
- Co-op Funeral Plans
- Crystal Cremations Ltd
- Dignity Funerals Ltd
- Distinct Funeral Plans Ltd
(Distinct Cremations) - Ecclesiastical Planning Services Ltd
- FA Albin & Sons Ltd ("Albins")
- Family Funerals Trust Ltd
(Lodge Brothers Funeral Plans) - Fosters Family Funeral Directors (Trading name of The Independent Family Funeral Directors Ltd)
- Freeman Brothers Funeral Directors
- Golden Charter
- Golden Leaves
- Haven Personal Funeral Plans Ltd
- Independent Funeral Planning Services Ltd
(Go As You Please Funerals 2009 Ltd) - M&F (Scotland) Limited
T/A M&F Funeral Services - Memoria Ltd
(Inc. Low Cost Funeral Ltd T/A Affordable Funerals) - Open Prepaid Funerals Limited
- Peace Burials Ltd
- Plan with Grace Ltd
- Pure Cremation
- Southern Co-operative Funerals Ltd
- William Alty & Sons Limited
("Altys Funerals")
Two providers were officially refused
authorisation by the FCA; One Life Funeral Planning (in administration)
and Eternal Peace Funeral Plans (all plan-holders refunded),
with the following providers withdrawing from the market completely, and agreeing a full, or partial, transfer of their funeral plan books to other regulated providers:
- Capital Life Funeral Planning Ltd
- Pride Planning (In Administration)
- Prosperous Life (in Administration)
- Rest Assured Funeral Plans
(In Liquidation) - Silver Clouds Funeral Planning
(In Administration) - Empathy UK Funeral Plans
(In Administration) - Ready4Retirement (In Liquidation)
- Bristol Memorial Woodlands FP Ltd
- SJP Lichfield Limited T/A Jukes Funeral Services
- Mairi Urquhart & Son Funeral Group
- Maplebrook Funeral Plans
- Geo. Hanson & Sons Funeral Directors
- Darwen Funeral Services
A small number of providers have been unable to arrange a transfer of their funeral plan books to regulated providers, resulting in having to enter administration, and in some cases liquidation. They include:
- Safe Hands Plans Ltd
- In Liquidation - One Life Funeral Planning Ltd
- in Administration - Fox Milton & Co Ltd T/A Unique Funeral Plans
- In Liquidation - Not for Profit Funeral Plans
- In Liquidation
The latest statement from the FCA can be accessed as below. Please also check in with us regularly for further updates, and additional market commentary.
!!LATEST NEWS!!
Golden Leaves acquires Avalon
October 2025
In a landmark deal for the recently regulated prepaid funeral plan sector, and the first real example of consolidation amongst established players, Golden Leaves Funeral Plans, one of the UK’s most trusted and established pre-paid funeral plan providers, has completed the acquisition of Avalon Funeral Plans.
The acquisition elevates Golden Leaves market share in the UK and Europe, making them the only FCA-regulated company dedicated to serving customers in both domestic and international markets, and further strengthens their position as one of the largest prepaid regulated funeral plan providers in operation.
The move is also great news for plan holders who will benefit from the safety and security of such a long standing, independent, funeral director backed business.
A full press release can be accessed below.
News Articles
CMA review into unregulated legal services
July 2023
The Competition and Markets Authority (CMA) is calling for experiences of members of the public as it launches a new investigation into unregulated will writing and probate services, and into online divorce.
It follows concerns that not all firms that offer such services are complying with consumer protection law.
While there are differences in the legal regimes that apply in the countries of the UK, initial research by the CMA has identified three main areas of concern involving potential risk to customers and possible breaches of consumer protection law:
Will-writing:
anyone can legally write a will, and consumers may be misled by advertising which offers an extremely low initial fee for advice but does not indicate that final costs can increase significantly. Potentially unfair contract terms may also be used, such as exclusions of liability, failure to provide cancellation rights, and terms which automatically appoint the firm as executor (often for a fee). There have also been reports of pressure selling and coercion of vulnerable customers.
Pre-paid probate plans:
these are a new development in the market where customers pay set fees upfront for the legal process of managing the estate when someone dies. Concerns include pressure selling techniques being used on elderly and other vulnerable people; lack of transparency about what costs are covered; plans that are unnecessary or fail to serve their purpose; and lack of customer awareness that their money may not be adequately protected, even if held in trust.
Online divorce:
so-called “quickie” divorce services have grown in popularity since the Covid-19 lockdown. Concerns include: misleading claims about both the simplicity of the process and prices; and inadequate quality of service, including firms using the wrong forms, entering incorrect details, sending papers to the court late, and not communicating efficiently with customers.
The CMA is also concerned that, if a company ceases to operate, there is a risk that customers’ money or important documents, such as their will, may be lost.
The CMA is also writing to a number of firms that offer these services in order to seek further information about their practices. Responses are required by 4th September 2023.
!!LATEST NEWS!!
Sun Life Cost of Dying Report 2025
January 2025
Widely regarded within the funeral planning sector as “the industry bible,” and used by many businesses in and around the later life planning sector to form marketing campaigns, this years report confirms that after a dip in attended funeral costs during the pandemic, costs have been on the rise again – now reaching £4,285 and overtaking 2020’s record price. Meanwhile, the cost of a direct cremation has also increased year on year by almost 7%, to £1,597. Both have risen above the rate of inflation over the same period.
This years report explores explores how people are covering mounting funeral costs, changing attitudes towards final farewells, and the evolving landscape facing the industry.
As always, we have put together a brief summary of the key statistics, themes, and messages for our clients and if you would like to receive a copy please get in touch.
The full report is available to download using the link below.
Regulation of pre-paid funeral plans: Feedback to CP 21/4 and Final Rules.
July 2021
In January of this year the Government (HM Treasury) made legislation to bring pre-paid funeral plans (‘funeral plans’) into their regulation from 29 July 2022.
In CP (Consultation Paper) 21/4, as released on 2 March 2021, the FCA (Financial Conduct Authority) set out the bulk of their proposed framework for regulating funeral plans. The consultation closed on 13 April 2021, and the FCA received 103 responses in total.
In this document (PS 21/8, as linked below) the FCA summarise the feedback received, and their response, alongside the final rules. The FCA are also consulting on additional requirements to deliver the consumer outcomes they expect to see if regulated firms fail. These include protection under the Financial Services Compensation Scheme (FSCS) and connected proposals on the resolution of firms.
If you wish to discuss the content of this paper or require a more concise summary of the information contained within, including the anticipated impact to your business, please get in touch.
CMA Funerals Market Investigation: Provisional Decision Report
August 2020
Having identified a number of issues in the funeral services sector, the CMA have published their final report outlining a package of ‘Sunlight’ remedies to address their concerns.
These remedies are aimed at supporting people when choosing a funeral director or crematorium and will place the sector under greater scrutiny.
Price regulation and a quality inspection regime are amongst the highest profile ‘remedies. For more information, please follow the attached.
FCA 'Dear CEO' letter to regulated Funeral Plan Providers (Sector Priorities 2023-2025)
September 2023
On 20th September 2023, the Financial Conduct Authority ("FCA") wrote to the CEOs of all regulated prepaid Funeral Plan providers with an update on their priorities for the sector between 2023-2025, the specific risks of harm they are concerned about, and what they want firms to do about them.
To aide our clients, we have prepared a condensed brief outlining the key messages, and takeaways, and this can be accessed as below. If you require the full 6-page FCA letter, please drop us a message.