What qualifies CPS to offer this service?
We were involved in the setup of a major pre-paid funeral plan provider over five years ago. The combined experience and knowledge gained through this process allowed us to establish CPS Trust Consultancy. Where CPS Trust Consultancy are unique is that we help with the whole business model including marketing and work flows, along with structured time efficient meetings in relation to the trust, this ensures that very little of your time is taken up when running the trust.
What professionals are needed to set up the trust?
Specialised trust solicitors, actuaries, trustees and investment managers. We only have the very best qualified professionals that have a historic working relationship.
How easy is it for funeral directors to set up their own prepaid funeral plan trust?
The professionals are key; you need to be able to have the right professionals who are not just qualified to do their job but already have a business relationship, this cuts down on meetings and the due diligence process when setting up the trust.
How much involvement does the funeral director have in the process?
We only need the funeral directors for three key meetings then we will take control of the whole process from beginning to end, right up to the point of trade.
What are the advantages of having your own trust?
The main reasons are having full control over your clients with regards the sale of the plan and customer service. The financial benefits can be massively beneficial as you are in control of every aspect, including the price of the plan and administration charges. Generally, these costs would be controlled by third parties.
Could a trust add value to my business?
As you are in control of your own pre-paid funeral plans with regards to the plans, price and administration fees, eventually all that revenue will come to you, so naturally, that will have a direct effect on the value of your business. Also, if the trust overachieves its investment targets any additional revenue belongs to your funeral directors, again, having a positive effect on the value of the business.
How complicated is it to operate once the trust is up and running?
Our business model is designed to take up as little of your time as possible because you are dealing with everything in-house and no third party to deal with; it will give you back control and save you time. Your ongoing meetings with all the professionals are very structured and most could be carried out remotely.