Great British Funeral Trust

Client money is totally safeguarded, and when the time comes, the Funeral Directors will receive prompt payment direct from the Trust.

The Trust provisions ensure that the cash is ring-fenced from the Company therefore it is completely separate, safeguarding all client monies.

The Trust is managed by a board of trustees, who are selected and appointed based on nothing less than; personal credibility, diverse skillset, professional experience, maturity and integrity.

Great British Funeral Trust

The Great British Funeral trust is the independent Trust Fund for Funeral Plan providers; Prosperous Life Limited.

Prosperous Life work with a vast panel of independent funeral directors across the UK.

Our Trust is held by Cater Allen bank and is managed by independent Trustees Guardian Professional Trustees and SML Governance Limited who, along qualified Actuary Rowanmoor manage the Trust’s funds on behalf of our plan holders and safeguard future payments to Funeral Directors.

The purpose of the Trust is to safeguard client money, and is independent to the funeral plan provider Prosperous Life Limited. By being so, client money is totally safeguarded, and when the time comes, the Funeral Directors will receive prompt payment direct from the Trust.

Trustees

The primary responsibility of The Great British Funeral Trust Trustees, is to safeguard client funds, ensuring that Funeral Directors are paid in accordance with the clients pre-paid funeral plans.

As beneficiaries of The Great British Funeral Trust, the arrangement with Funeral Directors is to ensure that nothing could possibly affect the payments of client funeral plans regardless of how far in the future that may be. Therefore, the board of trustees are appointed based on nothing less than; personal credibility, diverse skillset, professional experience, maturity and integrity.

Actuary

Rowanmoor as the Actuary, is appointed by the Trustees as required under the Financial Services and Markets Act 2000 (Regulated Activities) Order 200.

The actuary is required to determine and calculate the assets and liabilities of the trust at least triennially, and more often if required, to establish that the trust has sufficient assets to meet its expected obligations.

If the Actuary considers that there are insufficient assets he must satisfy himself that the trustees and the Plan Provider have put in place appropriate remedial arrangements.

In valuing the liabilities of the Trust, the actuary will make allowance for the future expected rates of mortality – which can reflect regional differences – and allow for the expected increases in funeral costs as governed by the terms and conditions of the various plans.

David Downie

David is a qualified Actuary with over 25 years of experience in pensions consultancy. He left the sunny shores of Trinidad and Tobago to seek a career in actuarial science having gained a financial scholarship to study in England. David trained with two of the largest consulting actuarial firms in the UK. He is responsible for all actuarial services provided by Rowanmoor and its parent company, the Embark Group, including holding the appointment of Scheme Actuary to several defined benefit schemes.

Auditors

Beever and Struthers is an award winning firm of Chartered Accountants and Business Advisors in Manchester, Blackburn and London. They have been providing accountancy and financial advice to clients for over 100 years and currently rank in the Top 10 firms in the North West.

The Auditors role and purpose as independent Certified professional Chartered Accountants is to carry out regular due diligence audit checks of The Great British Funeral Trust’s transactions, and verify the fund balance and its investments. This information is then supplied to the Actuary who then has solid independently certified information on which to base his calculations and reports.

Focusing on systems, processes, people and working practices, Beever and Struthers ensure that these are inline with The Great British Funeral Trust Trustee objectives. Where areas of weakness or inefficiencies are identified, practical recommendations for improvements will be put forward, whilst ensuring that ongoing information and advice is partner led keeping key principles such as; information and efficiency is at the centre of their service.

Solicitors

Raworths LLP are the Trust’s appointed solicitors and provide expert guidance on The Great British Funeral Trust document.

Raworths LLP ensure the Trust document is drafted in line with current UK Trust law and the regulated activities order Financial Services & Marketing Act 2000.

This is primarily for safeguarding the beneficiaries (Plan holders) and protecting the Trust fund.