Never underestimate the strength and resiliency of the U.S. economy. The recession that many economic forecasters expected has fortunately not happened, and our economy keeps chugging along.Sure, there are economic headwinds. Interest rates are high, and inflation remains elevated. But what has been reassuring is that families still see value in memorial services and the wisdom of planning ahead. Total preneed sales volumes are increasing on a percentage basis in the mid-single digit range, and preneed trust sales are growing at a higher rate. If you want to benefit from consumer demand for preneed, then you need the tools to give families what they want. The winners in our industry have been funeral homes and cemeteries that are making technology investments in two areas: consumer-facing applications that enhance the customer experience and back-end recordkeeping and administration applications that improve employee productivity. Those investments are essential to providing your business with a sturdy foundation and sustainable competitive advantage. Do not make the mistake of skimping on technology investments. As we begin the second quarter of 2024, FSI is the strongest it has ever been. Joining the Argent Financial Group family has allowed us to provide customers with a wide range of new trust services, including direct access to Argent's experts who have a proven track record of successfully managing preneed trust investments. We have complete autonomy to run FSI - and our dedication to offering superior products and providing customer service that is second to none in our industry has not changed. Put simply, our commitment to serving our customers is the same as the first day we launched FSI 46 years ago. If your business is looking for ways to leverage technology to better serve families - or is looking for help to increase preneed trust investment returns and income - please give us a call or email. We are ready to help. Sincerely,  Bill Williams President and CEO, Funeral Services, Inc. |
Welcome to the Trust CornerAs we constantly enhance the services we provide, we're bringing you more information on investments and the market dynamics that impact your trust. Starting this quarter, Argent Financial's top investment managers and economists will share commentary and updates. This quarter's update is courtesy of Michael Faherty at Argent Trust. The best place to start with our Trust Corner update is looking back at where have we been. Overall, 2023 was a great year for investors. As interest rates started to level off in 2023, the prices in bonds began to stabilize and investors started to take advantage of higher yields on bonds. The returns for the Bloomberg Aggregate Bond Index for 2023 were 5.53% and the Bloomberg US Govt/Credit 1-3 year index was 4.61%. The stock market benefited from a similarly strong year. Between the Russell 1000 Index, the Russell Mid Cap Index and the Russell 2000 Index, the three equity indexes averaged a 20.23% return combined. This means in a balanced portfolio, investors likely saw a return of 10% or higher for 2023. In the first quarter of 2024, we continued to see rates remain stable but higher than what we have seen in the previous 10 years - good news for fixed income investors who are wanting yield. And the economy has continued to be resilient despite the pressure on prices as consumers continue to spend money on goods and services. As we ended the first quarter, that meant positive single-digit returns in the equities markets and slightly negative to fairly flat returns in the fixed income indexes. As we head into the second quarter of the year, we'll leave you with a thought. Marshall Bartlett, a Senior Portfolio Manager with Argent Trust says, “How well consumers maintain their spending levels will be key for the economy and markets in the coming weeks.” How has your firm been leveraging increased consumer spending? If you have a question about the financial world or would like to see a topic covered in the quarterly newsletter, please reach out to Michael Faherty with Argent Trust at mfaherty@argenttrust.com or (504) 291-8870. |
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If you are ready to take the next step and boost online preneed sales using our eCommerce solution, contact clientservices@fsitrust.com. We are ready to help! |
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Here are brief summaries of several recent stories featuring FSI: Bill Williams Outlines 4 Steps to Maximize the Sales Potential of Your Website Deathcare professionals understand the importance of having a modern website to boost sales, but how do you do it? In the January issue of Southern Funeral Director, FSI CEO Bill Williams outlines four steps to create a strong digital presence that matches what today's consumers are looking for. Read more. FSI, Argent Share Tactics to Enhance the Income-Generating Potential of Your Preneed Trust Program A successful preneed trust program requires prudent, diligent management of trust assets. In the December issue of American Funeral Director, FSI and Argent Financial Group provided advice on how to sell preneed and how to better handle your operating costs and trust fund performance. Learn more. Why Building Trust with Families is Essential to Increasing Preneed Sales Earning the trust of families in your community is often the deciding factor in earning new business. In a FuneralVision.org article, Bill Williams shares how smart investments in technology, including providing educational resources and easy access to preneed services, help individuals see you as a trusted source of information. Read more. |
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With the support of these three leaders, FSI has considerably grown its technology offerings, expanded to 24 states and forged relationships with the best funeral home, cremation and cemetery professionals this industry has to offer. Thank you to Paul, Buddy and Mike for helping to make FSI stronger than ever for the benefit of our clients. Congratulations!  |
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