Fosters is OFFICIALLY AUTHORISED by the FCA to sell funeral plans.
We’re delighted to confirm that we are now authorised and regulated by the Financial Conduct Authority as a provider of funeral plans.
From today, the FCA will regulate pre-paid funeral plans, following legislation passed by Parliament. The FCA is authorising 26 providers, only 2 of which are Scottish companies. The newly authorised firms hold approximately 1.6 million plans, which make up 87% of the market.
Robert MacLachlan, CEO, said:
“Our team have done a tremendous job in preparing for regulation and we are delighted we are able to continue offering funeral plans to our clients.
I am immensely proud of the team and the fantastic service they provide to all our clients. This latest news will enable us to continue offering great service at an affordable price across Scotland.”
But what does this mean for you, our customer?
Regulation is intended to give greater protections to customers and ensure that when they by a funeral plan they can do so with the assurance they are engaged with a reputable company that has their best interests at heart. Many of the firms who applied for regulation did not meet the standards required, but Fosters has, which is something of which we are all immensely proud.
Our FCA registration number is 966550.