NS&I has confirmed today that it has exercised an option to extend, by two years, its contract with Matrix Capital to provide an advisory service to Premium Bonds jackpot winners. The contract with Matrix Capital will now run until 31 March 2023.
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.
Following a thorough and competitive re-tender conducted in 2017-18, Matrix Capital was awarded the contract for a period of three years, beginning on 1 April 2018 with an option to extend until 2023. Since then, Matrix Capital has provided an excellent service to a significant number of Premium Bonds jackpot winners who have chosen to receive financial advice services from them. NS&I and Matrix Capital have decided to extend the contract until 2023.
NS&I will conduct a re-tender competition for the Premium Bonds jackpot winner advisory service from autumn 2022 in order to start a new contract from April 2023.
Andrew Pike, Head of Intermediary Relationships at NS&I, said:
“We have been very impressed by the professional and personal service that Matrix Capital has delivered to a number of Premium Bonds £1 million jackpot winners since 2014, who chose to receive financial advice. We’re pleased to take-up the option of extending the contract with them for two more years and value the service they provide to the millionaires created by ERNIE each month.”
Robin Melley, Chief Executive, Matrix Capital, said:
“It’s been a very interesting and rewarding experience to meet with the Premium Bonds jackpot winners and offer them our financial planning services, and we are pleased that NS&I has decided to extend the contract. During the last three years, my business partner Gary Matthews and I have met winners in many areas across the UK, and have really enjoyed the experience.”
Notes to Editors
- To see where all the Premium Bonds £1 million jackpot winners came from in 2020 click here.
- 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 two lucky prize draw winners each month. In March 2021, NS&I issued over 3 million prizes totalling more than £86 million. Since the first draw in June 1957, there have been 516 million prizes paid out worth over £21 billion.
- 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. Robin has also won the coveted ‘Chartered Financial Planner of the Year’ award twice (from the Personal Finance Society), and is the only person in the industry to have done so.
- NS&I is one of the largest savings organisations in the UK, offering a range of savings and investments to 25 million customers who have invested more than £179 billion. All products offer 100% capital security because NS&I is backed by HM Treasury.
- For further information, please contact the NS&I media team.