Avalon has applied for FCA authorisation
We’re aware of recent media coverage about pre-paid funeral plans regulation and we want to update customers on Avalon’s journey, so you can have some peace of mind.
From 29th July 2022 the FCA will take responsibility for regulation of the pre-paid funeral plan market and any company selling funeral plans must be either directly authorised by the Financial Conduct Authority (FCA) or be an Appointed Representative of a company authorised by the FCA.
We fully support the introduction of new regulations and Avalon have already applied for authorisation with the FCA through their application process. Like all applicants, we expect to hear if our application has been successful by the time the regulation starts on 29th July 2022.
At Avalon we strongly believe that regulation of the funeral planning market is a positive step forward for our industry and customers. It will ensure that all plan providers adhere to the same high levels of quality and service that you have come to expect from Avalon.
Avalon has been customer-focused for more than 25 years and our principles align closely with the new regulations coming into effect. We are embracing FCA regulation as a positive step for the future of the funeral planning industry and feel passionate and excited about the changes that are coming.
The new rules introduced by the FCA will ensure all providers maintain the high standards set by these regulations. Funeral plan providers will need to adhere to these rules to ensure that plans are sold fairly, that the products provide the expected benefits and deliver true value for money.
Avalon have been preparing for FCA regulation for some time. If you want to find out more about the new regulations and the status of all funeral plan providers applications, you can go here: https://www.fca.org.uk/consumers/funeral-plans/
We understand you might still have questions about your plan and if you do, please just give us a call on 0161 486 2020