FCA minded to approve Funeral Plans
Golden Leaves very likely to achieve FCA regulation after securing ‘Minded to Approve’ status
Funeral plan provider, Golden Leaves, is on track to become regulated by the FCA after securing ‘Minded to Approve’ status.
Just one of a few funeral plan providers now very likely to achieve full regulation, the new FCA ruling will come into force on 29th July 2022, by which time it will become a criminal offence for any non-regulated provider to sell or administer a funeral plan.
Announced in July 2021, the FCA advised this latest move would ‘enhance’ consumer protection and ensure all plans are sold fairly, perform as expected and provide value for money.
A leading independent funeral plan provider, Golden Leaves has long adhered to standards of excellence, having played a major role in the development of the FPA [Funeral Planning Authority] in 2001, and in becoming the first and only independent firm within the UK to secure the prestigious BSI Kitemark Customer Service Certification.
Barry Floyd, CEO of Golden Leaves, confirmed: “Since inception, Golden Leaves has worked tirelessly to establish our reputation as a stand-out funeral plan provider that genuinely cares for our customers and their loved ones.
This has been demonstrated in other regulatory achievements, such as BSI accreditations, together with the development of fully guaranteed funeral plans that have been designed with the sole purpose of protecting consumer interests. We are, therefore, delighted to have progressed to the next stage of the FCA regulation and look forward to upholding high industry standards from July 2022 and beyond.”
Initially formed by a highly regarded family of funeral directors in South London, Golden Leaves has been at the forefront of the funeral planning sector since the early 1980s and was one of the first to introduce the funeral planning product to the UK market.
It has successfully continued this legacy, being the first independent funeral planning company to launch a Guaranteed Cremation Funeral Plan, which freezes the cost of a funeral regardless of when the plan was purchased, and ensures that the next of kin have nothing further to pay.