NS&I awards Premium Bonds jackpot winner advisory service contract to Matrix Capital
NS&I today (24 March 2014) announced that Matrix Capital has been awarded the contract to provide financial advisory services to winners of the monthly Premium Bonds £1 million jackpot prize.
To ensure that high quality financial advice is available to each Premium Bonds £1 million jackpot winner, NS&I offers a financial advisory service provided by an advice firm. It is up to each monthly jackpot winner to decide whether or not to accept the service.
In September 2013, NS&I began a formal re-tender for this contract and following a thorough and competitive tender process the contract has been awarded to Matrix Capital. The contract begins on 1 April 2014.
Matrix Capital has won numerous awards including their Chief Executive Robin Melley winning the award for Chartered Financial Planner of the Year, by the Personal Finance Society last November.
Julian Hynd, Retail Director at NS&I, said: “The new contract with Matrix Capital will ensure that Premium Bonds jackpot winners continue to have the option of receiving high quality financial advice. I would like to congratulate Matrix Capital on winning the contract and also thank all the financial advice firms who took part in the re-tender process.”
Robin Melley, Chief Executive, Matrix Capital, said: “We are thrilled to have been chosen by NS&I to act as the appointed firm of Chartered Financial Planners to provide professional advice to the Premium Bonds jackpot winners, and we are really looking forward to working closely with the team at NS&I. We are passionate about providing all our clients with a personal service that creates added value through the application of the highest standards of financial advice.”
NS&I would like to thank the incumbent provider Close Brothers Asset Management who have done an excellent job in delivering this service for many years and who are assisting with a smooth transition to Matrix Capital. Having held this contract for over eight years, Close Brothers confirmed that they did not wish to be considered as part of the re-tender.
Notes to Editors
1. Premium Bonds are NS&I’s most popular savings product. Instead of earning interest on savings, Premium Bonds give Bond holders the chance to win tax-free cash prizes from our monthly prize draws. The prizes available range from £25 to £100,000, plus the £1 million jackpot prize which is given to one lucky prize draw winner each month. In March 2014, NS&I issued over 1,800,000 prizes totalling more than £51 million.
2. The Budget 2014 confirmed that the number of Premium Bonds £1 million jackpot prizes will increase from one to two per month, with effect from the August 2014 prize draw.
3. Matrix Capital Limited is committed to providing professional financial planning, unbiased advice and outstanding service to clients based on its core values of honesty, integrity, professionalism, objectivity, confidentiality and accountability. Robin Melley and Gary Matthews, the directors and owners of Matrix Capital Limited, are both Chartered Financial Planners and have more than 25 years of experience in delivering face-to-face regulated financial advice to a wide range of clients.
4. NS&I is one of the largest savings organisations in the UK, offering a range of savings and investments to over 25 million customers. All products offer 100% capital security because NS&I is backed by HM Treasury.
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