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Shropshire advice firm wins NS&I contract

Shropshire advice firm wins NS&I contract

A Shropshire-based advice firm has again been chosen to work with NS&I to provide advice to the winners of the two monthly Premium Bond £1m jackpot.

Matrix Capital has been contracted to provide this service since 2014 and won the new contract after a tendering process which began in November.

The new contract will begin on 1 April 2018 for three years, with an option to extend for two additional 12 month periods.

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Andrew Pike, head of intermediary relationships at NS&I, said: "We are pleased to confirm our intention to contract with Matrix Capital to provide Premium Bonds jackpot winners with the option of receiving high quality financial advice.

"This is an important service, reflected by the strong field of contenders and the excellent bids we received for the contract. I would like to thank all the financial advice firms who took part in the re-tender process."

NS&I offers a financial advice service to each monthly Premium Bonds jackpot winner but it is up to them to decide whether or not to accept the service and then for them to decide whether they wish to take up and pay for additional services provided by the advice firm.

In November NS&I began a competitive procurement process for this contract and the evaluation panel for the tender included representation from both the Personal Finance Society and the Chartered Institute for Securities & Investment.

Matrix Capital, the present incumbent, scored the highest number of marks in the evaluation process, scoring more than 90 per cent of the marks available.

Robin Melley, managing director of, Matrix Capital, said: "We are delighted that NS&I has confirmed its intention to contract with us again, following the re-tender of the service to provide professional advice to Premium Bonds jackpot winners.

"We look forward to continuing to work with NS&I to deliver this important service, and remain committed to providing our clients with a personal service that creates added value, through the application of the highest standards of financial advice."