Funeral plan firm rapped over misleading adverts about the way it invests customers’ money
Unique Funeral Plans claimed clients’ money was put in an investment trust, the Sterling Trust Corporation Ltd
A funeral plan firm is under fire for misleading customers about where their money was held. Unique Funeral Plans claimed clients’ money was put in an investment trust, the Sterling Trust Corporation Ltd.
‘If anything happens to us, each your plan and refund are 100 per cent secure and protected,’ an announcement on its website read.
But a probe by the promoting watchdog found this was not the case on the time. And Sterling Trust publicly denied ever receiving funds from the firm.
The funeral plan sector faces a clampdown as a result of mis-selling and high-pressure sales tactics. From July 29, all firms have to be regulated by the Financial Conduct Authority or stop trading.
Unique is believed to have greater than 3,000 plan holders but didn’t apply to be authorised.