Funeral plan firm rapped over misleading adverts about how it invests customers’ money
Unique Funeral Plans claimed clients’ cash 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’ cash was put in an investment trust, the Sterling Trust Corporation Ltd.
‘If anything happens to us, both your plan and refund are 100 per cent secure and safe,’ a statement on its website read.
But a probe by the advertising watchdog found this was not the case at the time. And Sterling Trust publicly denied ever receiving funds from the firm.
The funeral plan sector faces a clampdown due to mis-selling and high-pressure sales tactics. From July 29, all firms must be regulated by the Financial Conduct Authority or cease trading.
Unique is thought to have more than 3,000 plan holders but did not apply to be authorised.