Working to bring funeral costs down 
Funeral Plan companies and sales of funeral plans are to be regulated by the Financial Contact Authority (FCA) from 29th July 2022. Although it was our intention to become regulated and indeed our company had already submitted our application to the FCA we have now decided to withdraw this application as we feel this will best suit and protect our plan holders better in the future. 
We have not made this decision lightly. Being a smaller, ethical company who have always worked in the best interests of our clients we feel this decision will if anything strengthen existing funeral plan contracts as these are likely to be transferred to a more established and larger resourced funeral plan company. 
We feel this decision is a positive move and our existing plan holders should not be concerned about their current purchases or whether their funeral plan contracts will be upheld. Contracts are not being changed and funerals will still take place under current terms. If you are an existing plan holder, we know you may have seen negative reports in the press regarding other funeral plan companies but please do not be concerned about Silver Clouds plans. Our company is well funded as is our Trust fund. 
Clients, monies are currently held within the secure and independent environment of the Silver Clouds Trust. . The Trust’s investments are managed by Brewin Dolphin who are a specialist UK investment company, regulated by the FCA. The investments are reviewed constantly and are stable so enabling plan claims to be settled quickly and efficiently. . 
We feel that moving forward and after regulation that this would put our clients in a more positive position and plan holders would be better suited to be brought under a larger operation. We are currently in talks with a number of suitable companies. 
Silver Clouds although a successful business has always been run on tight margins and within a very automated and structured environment. This method of operation has enabled us to keep our costs down and offer very competitive prices. Although this has proved very positive for the company and for our clients the extra costs involved in regulation are considerable and we do not feel it will be viable for our company to remain in this marketplace and still be competitive in its current form. 
We are reviewing our position generally with regard to making an application for authorisation in the future. The FCA have informed us that we would be welcome to submit a new application. 
We shall be happy to answer any questions for existing plan holders or their nominated representatives. As we are expecting increased contact from plan holders due to our statement we would therefore ask that an email be sent to as the quickest option to contact us. 
We would like to thank all of our plan holders, agents, funeral directors and staff for their considerable support since our formation in 2016 based upon our simple ethos of wanting to provide ethically structured and sold funeral plans at the most competitive prices. 
4 May 2022 
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