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National Savings & Investments products
Published by a LexisNexis Private Client expert
Practice notesNational Savings & Investments products
Published by a LexisNexis Private Client expert
Practice notes
National Savings & investments (NS&I) is an Executive agency of the Chancellor of the Exchequer. According to its website, NS&I is one of the largest savings organisations in the UK, with over 26 million customers and £100 billion invested. Best known for premium bonds, the organisation also offers a range of other savings and investments to suit different people's needs, including savings certificates, income bonds and children's bonds. All the products offer 100% security because NS&I is backed by HM Treasury.
Individuals can buy NS&I products online, but new investors will need to supply evidence of identity and address.
Giving investment advice
The usual health warning applies here: practitioners cannot give investment advice unless authorised to do so by the Financial Conduct Authority. While it is permitted to tell the client about tax efficient investments generally, unless authorised to do so practitioners must not recommend any, based on the client’s circumstances.
Premium bonds
Premium bonds do not guarantee a rate of return because a premium bond is effectively a raffle ticket. There is a draw every month,
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Jurisdiction(s):
United Kingdom
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Key definition:
Investments definition
What does Investments mean?
A product specified in the FSA Regulated Activities Order.
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