Funeral advisers and directors have caused advancements in pre-paid funeral plan sales, according to Golden Charter, the UK’s largest funeral plan provider.
Chief Executive, Ronnie Wayte, released sales figures that showed the total number of plans sold directly, as well as through advisers or directors, reached over 72,000 within the first half of 2014 alone. This is compared to the 2008 annual total of 74,683.
It is estimated the funeral sector is now worth around £500 million a year, with more than £3 billion being invested.
Golden Charter work in partnership with independent funeral directors and claim around 1 in 10 funerals are now funded by pre-paid plans.
Mr Wayte puts the surge of sales down to consumers putting more trust in the professionals, commenting, “Our continuing success has many fathers, not least the growing public awareness that a funeral is an extremely personal service and people wish to place their trust in their local professionals.”
Financial planner at MGS Financial, Gareth Reynolds says “This shows that advisors are adding more value and services post-RDR, and helping with all aspects. The focus seems to have moved away from products towards looking at what clients want, and looking at their circumstances as a whole.”
These figures are certainly encouraging for any end of life service providers, as the demand for trusted and quality services expands. Consumers are seeing the need to acquire help from qualified professionals, as legislation and compliance issues become evermore prominent.
