I am honored to address you for the first time as the new President of FSI. As I step into this role, I would like to extend my deepest thanks to Bill Williams for his decades of leadership that have driven FSI to success.
As Bill eases into retirement, fortunately, he will continue to support FSI as a consultant and will be a familiar face at future trade shows and events. His expertise and guidance will be invaluable as we navigate the changing landscape of the deathcare profession. As we move forward, my priority is centered around continuing the same great client service for which FSI is known. We will also aim to improve operator economics, efficiency and effectiveness by simplifying complex processes. We will continue to invest in technology and integration to create scale and accessible solutions, all with the goal to help improve our client's businesses. I look forward to working together to make 2025 a year of growth by continuing the legacy that Bill and FSI have established. Thank you for your trust and support. Sincerely, Jack Hirsch President, Funeral Services, Inc. |
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A Reminder to Renew Your Florida Facility License By Lauren Pettine, Senior Associate and Henry Thompson, Associate, WRW Legal, PLLC Deathcare licensees that hold a facility license in Florida must correspond with the Division of Funeral, Cemetery and Consumer Services to maintain their licenses. Failure to renew a license renders any activity that occurs within the facility after the license has expired unlicensed practice that carries significant penalties! Each facility license must be renewed biennially. Renewals occur on November 30 of even years for embalming facilities, cinerator facilities, funeral establishments, removal services, and refrigeration facilities. Renewals occur on September 30 of odd years for monument establishment builders and monument establishment retailer licenses. Renewals occur on August 31 of odd years for direct disposal establishments. The Division should send out renewal notices to licensed facilities prior to the due date. If you do not receive your renewal notices 30 days prior to the deadline, you should reach out to the Division. Late renewal applications will result in additional fees (and possibly fines) for the licensee. There are asynchronous events which may require facilities to submit notifications to the Division as well. If a licensed deathcare facility seeks to change its name, prior to utilizing the new name, the licensee must submit a Change of Name & Request for Revised License Certificate with $25. The licensee must attach the proof of the new name filed with the Florida Division of Corporations to support the request. Once the application has been processed, the facility will be able to use the new name. If a licensed deathcare establishment needs to update its mailing address or contact information, the licensee must submit a Change of Mailing Address or Contact Data. There is no fee for this notification. We strongly encourage licensees to ensure that the records of the Division are up to date so that the facility receives notices from the Division at correct address. If a licensed deathcare establishment needs to update its funeral director in charge or direct disposer in charge, the licensee must submit a Change of FDIC/DDIC form within twenty (20) days of the change. If the licensee does not mail this to the Division within 20 days, the licensee will be subject to discipline. Additionally, the licensee is obligated to update the signage at the front of the facility to reflect the new FDIC or DDIC. Lastly, if a licensed deathcare establishment needs to update its physical address, it must submit a Notice of Change in Location. The fee for this application is $250. This application must be submitted prior to the change of location. The new location must pass an inspection prior to operations beginning at the new location. You may find all application and notification forms on the Division's website at: https://myfloridacfo.com/division/funeralcemetery/licensing#forms. By keeping abreast of the renewal periods, and ensuring that changes are reported to the Division, licensees can avoid discipline from the regulator. |
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Q4 2024 Economic Update As we start off the first quarter of 2025, the deathcare industry is set against a positive economic backdrop, facing steady growth. The global death care market is projected to expand at a CAGR of 4.5% from 2024 to 2031, reaching approximately $189.8 billion by 2030. Major indexes like the S&P 500 and Nasdaq are near all-time highs, driven by job stability and declining inflation. As of the end of 2024, a rebound in payrolls, wage growth and weekly hours are positive indications of continued economic growth as we head into 2025. Financial market trends suggest a stable and growth-oriented environment for deathcare firms as we start off this new year. If you have questions about the financial world, please reach out to Michael Faherty, Executive Vice President, Client Relations, at mfaherty@argenttrust.com or (504) 291-8870. |
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Here are brief summaries of several stories featuring FSI: In a Battle Between Preneed Trust and Insurance: Which Funding Method Comes Out Ahead? When exploring a funding method for your funeral home's preneed program, you have two choices: trust or insurance. There are pros and cons to both, which FSI's Bill Williams explored in the April issue of Southern Funeral Director. Read more here for insights on which may be the best fit for your firm. The Wants and Needs of Today's Consumers As deathcare firms navigate economic challenges, businesses are wise to leverage preneed as a revenue driver. For insights on how to use data-driven insights to increase your preneed revenue potential, read our recent article in Memento Mori here here. It's What Consumers Want In the June issue of The Director, Bill Williams highlights four ways your firm can benefit from an online storefront. An online storefront should be mutually beneficial: It helps your firm facilitate a seamless digital purchase process for your customers and allows your customers to easily find the information they need and complete their purchase on their own terms. Read more for insights on digital storefronts here. |
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Moving forward, FSI will mail the refund checks directly to the purchaser at their last recorded mailing address. Funeral homes will no longer be responsible for distributing the check to the consumer. This change is in compliance with Florida state statutes and allows for more efficient processing of refunds for consumers. This applies only to firms using FSI's First Florida Trust. All other trust accounts remain the same. If you have any questions, please contact our Client Services team at 1-800-749-1340 or clientservices@fsitrust.com. |
After more than 20 years as President at FSI, Bill will transition to a well-deserved retirement. He will continue to serve in a consulting role to advise the leadership team and will maintain a presence at industry events.
During his tenure marked by incredible growth, Bill's leadership has guided FSI towards:
Thank you for your decades of leadership and tireless inspiration. Congratulations! |
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