Shropshire-based adviser Matrix Capital will continue to provide planning services to winners of National Savings & Investments’ monthly premium bond jackpots after having its contract extended.
Close Brothers Asset Management had been servicing the £1m winners for eight years up until 2014, when Matrix took over on a three-year deal after a competitive re-tender.
The firm has six staff in its one office, with three authorised to give advice, its FCA register entry shows, despite the original NS&I tender asking for a firm with chartered and/or certified financial planners “based at physical offices located across the UK.”
Matrix Capital chief executive Robin Melley says: “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 from many areas of the UK, from Cornwall up to Scotland, and have really enjoyed the experience.”
The 12-month extension until next March for Matrix exercised an option in the original contract. Monthly jackpot winners do not have to accept the service, but it must be available to all of them.
Another re-tender will begin in autumn this year head of a new contract from April 2018.