NS&I to refer Premium Bonds jackpot winners to financial advisers

The change will give over 8,000 advisers the chance to help winners of the Premium Bonds jackpot and means NS&I is ending its contract with Matrix Capital, the advice firm that was selected by tender to solely run the service over the last eight years.

Andrew Pike, head of intermediary relationships at NS&I, said: “NS&I would like to place on record our sincere thanks to Matrix Capital for providing an excellent service to the Premium Bonds jackpot winners throughout the life of our partnership. They have gone above and beyond what was asked of them, and I have been truly impressed by their professionalism throughout, and their unwavering desire to put the customer at the heart of everything they do. There is no doubt that this has resulted in many positive outcomes for jackpot winners.

“We look forward to working with the CISI and the PFS on the new service and supporting their members to deliver it.”

Sally Plant, head of financial planning at the CISI, said: “The CISI is delighted to support NS&I on this wonderful initiative and we commend them on taking the lead in directing consumers to qualified professionals. The CFPTM holders are experts in providing a total, holistic, financial planning service to help consumers achieve their life goals and ambitions for themselves and their families.”

Melissa Collett, professional standards director at the CII, said: “By choosing a Chartered Financial Planner, Premium Bonds jackpot winners are choosing a professional who has made a public commitment to putting their clients’ interests first. Chartered Financial Planners must commit to and maintain the highest professional standards, in professional qualifications, ethical behaviour, business practices and ongoing professional development.”