NS&I has extended its contract with Chartered Financial Planning firm Matrix Capital to provide advice to £1m Premium Bond winners for a further two years.

NS&I, the government-backed savings provider, has exercised an option to extend the contract by two years until 31 March 2023.

Each Premium Bond £1m jackpot winner is offered an optional financial advisory service provided by an advice firm. 

Matrix Capital, based in Bridgnorth, Shropshire, has been providing advice to Premium Bond winners since 2014, having won the contract for the tender several times.

NS&I says that following a 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. 

It says that since then, Matrix Capital has provided an “excellent service” to a significant number of Premium Bond jackpot winners who have chosen to receive financial advice from the firm. As a result NS&I and Matrix Capital have agreed to extend the contract until 2023. 

NS&I will conduct a re-tender 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.”