Award

Independent Financial Advice Framework

LEICESTERSHIRE COUNTY COUNCIL

This public procurement record has 3 releases in its history.

Tender

14 Oct 2019 at 12:47

Tender Notice
Award

10 Oct 2019 at 14:05

Award Notice
Tender

25 Jun 2019 at 13:33

Tender Notice
Summary of the contracting process

The Leicestershire County Council is currently engaging in the procurement process for the "Independent Financial Advice Framework". This initiative is categorised under financial consultancy services, specifically addressing the financial needs of approximately 650 service users. The procurement method employed is an open procedure, with the tender period closing on 19th July 2019. The contract, once awarded, is set to commence on 1st September 2019 and will run until 1st September 2021, with services required to be delivered in the East Midlands region of the United Kingdom.

This tender presents significant opportunities for businesses, particularly small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprise (VCSE) organisations specialising in financial consultancy. Businesses that can provide expert independent financial advice and manage financial products efficiently, especially for service users with substantial portfolios, will be particularly well-suited to compete. The requirement for quarterly briefings also opens up avenues for firms interested in supporting the council's investment decisions.

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Notice Information

Notice Title

Independent Financial Advice Framework

Notice Description

The Council manages the finances of approximately 650 Service Users. The authority to manage the Service Users' finances comes from Court of Protection deputyship or from appointeeship, usually from the Department for Work & Pensions. The Council is responsible for the management of the Service Users' financial affairs. Under the Office of the Public Guardian's Deputy Standards the Council is required to seek independent financial advice, where appropriate to maximise the return on Service Users' savings, investments and any other assets. The Council is seeking to procure a framework with up to three separate Suppliers. The Council requires a process whereby the Supplier(s) is enabled to provide expert independent financial advice and procure relevant financial products as required. Specialist advice and support will be required for Service Users with portfolios of over PS20,000. One general quarterly briefing is also required free of charge to assist the Council in making investment decisions on behalf of its Service Users with individual portfolios below PS20,000.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-0f9d7929-d73d-4eae-aaa4-d30424308aae
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/f4c5c55f-5817-4d2d-b31d-489c3f9f6378
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME, VCSE
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

85 - Health and social work services

CPV Codes

66170000 - Financial consultancy, financial transaction processing and clearing-house services

85321000 - Administrative social services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£50,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
14 Oct 20196 years ago
Submission Deadline
19 Jul 2019Expired
Future Notice Date
Not specified
Award Date
21 Aug 20196 years ago
Contract Period
31 Aug 2019 - 1 Sep 2021 2-3 years
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
LEICESTERSHIRE COUNTY COUNCIL
Contact Name
Charlotte Highcock
Contact Email
charlotte.highcock@leics.gov.uk
Contact Phone
+44 1163052043

Buyer Location

Locality
LEICESTER
Postcode
LE3 8RA
Post Town
Leicester
Country
England
Major Region (ITL 1)
TLF East Midlands (England)
Basic Region (ITL 2)
TLF2 Leicestershire, Rutland and Northamptonshire
Small Region (ITL 3)
TLF22 Leicestershire CC and Rutland
Delivery Location
TLF East Midlands (England)
Local Authority
Blaby
Electoral Ward
Glenfield Faire
Westminster Constituency
Mid Leicestershire

Supplier Information

Number of Suppliers
1
Supplier Name

SAMRA WEALTH MANAGMENT PARTNER OF ST JAMES WEALTH MANAGMENT

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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