NS&I has never been more trusted by advisers, its annual report says, after a number of initiatives to improve its services to advisers.

The government-owned savings organisation hopes to improve further with the introduction of a new system later this year which will allow advisers to access information on clients’ NS&I holdings online.

The state-owned savings bank highlighted the introduction of its Adviser Helpline in February, whereby financial advisers can now access clients’ NS&I holdings over the phone, as a key component in improving relationships with advisers.

The report, published today, said: “This year, the adviser advocacy score – based on the question: ‘How likely are you to recommend NS&I products to your clients?’ – was 8.5 out of 10, the highest score recorded since the measure was introduced in 2015.”

Elsewhere the report revealed that NS&I had surpassed its target for Government fundraising and grown its business by 50%.

Ed Anderson, chairman, NS&I, said: “2017–18 has been a very successful year for NS&I.

“The organisation met all of its performance targets and raised £9.8bn in net financing for the Government (against a final target of £8bn
in a range of £5bn to £11bn).

“We have delivered for savers by offering new products and competitive interest rates; and for taxpayers by raising debt financing more cheaply than via gilts.”

NS&I chief executive Ian Ackerley, who is in his first year in the job, said: “I was attracted to this organisation by its track record in delivering cost-effective financing for the Government through a proposition and infrastructure which has been developed to match the changing needs of our customers.

“This is a perpetual challenge, but the advent of new regulations such as open banking and the rise of fintechs represent the latest opportunities for NS&I to enhance our proposition and remain competitive.”