SAIF Golden Charter

FCA regulation ready: one step at a time

We’re prepared

I’m delighted to confirm Golden Charter was one of the first funeral planning companies to submit an application to the Financial Conduct Authority (FCA) to become directly authorised as a firm that sells and carries out funeral plan contracts in the UK. This was a fantastic step forward for us and ensures we’re well prepared to support our valued funeral director partners in the next step of your regulatory journey, which is likely becoming an Appointed Representative of a pre-planning company. This means that Golden Charter has taken its first formal step towards becoming a directly authorised plan provider.

We are now focused on guiding partners through a straightforward three-step process, to allow Independents to become an Appointed Representative and continue to operate much as you all do today when preparing plans for your families.

One step at a time

The Appointed Representative route offers families an excellent customer experience by allowing you, their trusted independent funeral director with established relationships and expert knowledge of your local marketplace, to continue to guide them through the funeral plan journey. Our three-step funeral director pathway to regulation model has been devised to make the transition to a regulated environment as simple as possible.

Step 1 – Prepare

We’ve spoken to many of our partners already and most are keen and excited to start their regulatory journey. You can kickstart step one by logging in to the upgraded mygoldencharter.co.uk

By using the updated mygoldencharter. co.uk and Paperless Application service, you will have access to an application structure that provides all of the prompts to allow you to speak with customers as you do now, while confidently meeting the customer focused principles set out by FCA regulation. Our enhanced online portal allows your conversations with families to continue in much the same way, while providing improved performance, extra security, and access to helpful training modules necessary for operating in a regulated environment.

In addition, becoming familiar with mygoldencharter.co.uk speeds up transactions, and means documents never go missing. It offers prompts to give you confidence and support your conversations, while simultaneously collecting all of the information needed to provide the assurances required by the FCA.

Speak to your business manager to discuss the option most suited to your business ahead of progression to step two.

Step 2 – Apply

Step two is where we’ll invite you to submit your application to us to become an Appointed Representative. Please rest assured your business manager will support and guide you through the process.

Step 3 – Partner

Once your application has been approved, we’ll invite you to formalise your intention and commitment to the customer-focused professional standards by completing your new Funeral Director Agreement. We are supporting more than 800 independents already working to the standards within the existing agreement. I would like to reassure you we are here to bear the weight of regulation and make meeting the FCA regime as straightforward as possible for your business.

A guiding hand

We see that many have a thirst for information on what happens next. We are working hard to finalise all the areas of support that will allow you to maintain the same great relationships you currently enjoy with families. We’ll be here to offer you a supporting hand right through the period of change.

We’re aware that some Independents may have received contact from consultants and advisors offering specialist services ahead of FCA regulation. I’d urge you to reflect on your business’ needs before seeking paid advice, as we can provide guidance and support to you without added cost.

As always, your business manager is there for you, so reach out to them or email us. If you haven’t done so already, I’d suggest you read through the Guide to FCA regulation – Part 2 via mygoldencharter.co.uk to familiarise yourself with the key principles.

By progressing on this journey with us, your families will have the added peace of mind that you meet the highest professional standards in funeral planning. We’re looking forward to working with you to offer funeral plans in the years and months ahead under FCA regulation. Once again, thanks for your continued support and please feel reassured that we will guide you through all the required steps on the path to regulation.