President's Note
Navigating Economic UncertaintyBetween threats of an economic downturn and emergence from the pandemic, the deathcare industry is facing its own unique set of challenges over the next few months. While we may not know exactly what to expect, we're in this together. Following the pandemic, the number of memorial services has been trending downward. Our industry was aware this would happen, especially after mortality rates spiked to the highest level in 100 years during the pandemic. Add to that the increasing probability of an economic recession and you can see why funeral directors and cemeterians are concerned - and for good reason. It means sales and possibly jobs are at risk. Oftentimes, many company leaders cut back on investing in their businesses during a recession. The more successful approach, according to researchers at Harvard and McKinsey, is to make smart, disciplined investments, especially in technology. Updating your company's digital tools can improve the ability to engage more with families in your communities. It can increase the productivity of your staff, so they are freed to help in other areas of your business. The right investments in technology can make your business more resilient, and significantly improve your competitive position and elevate it when the economy recovers. Now is the time to reach out to our team of technology experts. They are ready to help ensure that your recordkeeping/administrative operations and preneed trust programs are operating at peak performance. Navigating today's business climate will be tricky. There's no doubt about that. But I remain confident our industry will emerge stronger and better able to meet the changing needs of families in our communities Sincerely,  Bill Williams President and CEO, Funeral Services, Inc. |
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Unlock the Secret to Boosting Preneed Sales Join FSI at the Kates-Boylston 2023 Technology Think Tank Conference Deathcare firms are leaving money on the table in two ways: by not offering preneed contracts online and by not offering modern end-of-life celebrations through vision setting. Learn how to prevent that from happening by joining FSI as we host an expert session at the Kates-Boylston 2023 Technology Think Tank Conference on April 19-20 in Celebration, Florida. During the session, FSI CEO Bill Williams and General Counsel Wendy Russell Wiener will demonstrate why it is essential to introduce vision setting into your business and how to do it through online preneed sales - all while increasing your revenue. Register now for the conference today to learn from our experts and take your business to the next level. We look forward to seeing you there! |
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With just a few clicks, FSI clients have complete access to their entire trust program and client details, including, for example, the status of every pre-need contract, trust transaction history, and regulatory reporting deadlines. Here are a few more examples of the benefits of FSI's technology:
For more information about our eServices, please contact our Client Services team at 1-800-749-1340 or clientservices@fsitrust.com. |
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By Lauren R. Pettine, Esq., Attorney at WRW Legal, PLLC, FSI's General Counsel Deathcare licensees are required to maintain certain records and documents in order to stay compliant with regulations surrounding the deathcare industry and licensure. Licensees have to keep each of the following records available for inspection indefinitely: licensure documents, advertising file, financial and accounting records including financial statements, preneed contracts, at-need contracts, burial records, records of cancellation requests and refunds given, procedure manuals, and examination work papers. In addition, all licensees must maintain a log of all written complaints regarding operations which includes the complainants name and contact information, the date the complaint is received, and the written complaint - also indefinitely. Records pertaining to cremation such as a signed declaration of intent, records relating to the disposition of cremated remains, the contract for cremation arrangements, and the date of cremation must be maintained for two years. After two years, the documents may be destroyed. However, we do not recommend destroying those records in such a short time period as cremation related litigation is the most prevalent type of case against a deathcare licensee and the statute of limitations on such cases is likely much longer than 2 years. Preneed licensees must indefinitely maintain documentation that is associated with fulfillment of any preneed contract. This documentation must include the date and time that preneed licensees receive requests to deliver merchandise. Additionally, preneed licensees must indefinitely maintain the remittance form for the Preneed Funeral Contract Consumer Protection Trust fund. NO paper records need to be maintained at the location. Records may be kept electronically provided that those records are able to be accessed by inspectors upon request. Don't forget that FSI offers an electronic “filing cabinet” for your preneed contract related records. |
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Here are brief summaries of several recent stories featuring FSI:
An efficient, well-run preneed trust program is integral to serving the unique needs of families in your community. In the January issue of American Funeral Director, FSI and Argent Financial experts discuss three areas funeral directors should focus on to make sure your preneed program is operating at peak performance. Learn more here. Why Your Funeral Homes Must Have a Strong Online Presence In today’s digital world, making a great first impression when families visit your website is essential. In the February issue of Memento Mori, FSI CEO Bill Williams highlights practical, actionable steps that funeral directors can implement to make sure you have a strong online presence. Read more here. |
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