Award

Financial Lives Survey, Waves 5 to 7

FCA

This public procurement record has 4 releases in its history.

Award

23 Jan 2025 at 14:56

TenderUpdate

08 Aug 2024 at 09:29

Tender

18 Jul 2024 at 11:22

Planning

29 Apr 2024 at 15:43

Summary of the contracting process

The Financial Conduct Authority (FCA) has initiated a procurement process to appoint suppliers for the next three waves of the Financial Lives Survey (FLS), covering the period from March 2025 to later in 2031. The primary category for this procurement is market research services, classified under CPV 79310000. The procurement process involves five specialisms: Delivery of fieldwork and weighted data, recontact surveys, data tables, reporting, and cognitive testing and qualitative research. The contracts for these services are valued at a total of approximately £5.55 million. The award stage has been completed as of 23 January 2025, with contracts signed on 23 December 2024. Key suppliers include the National Centre for Social Research (NatCen), Critical Research Ltd, and Ignition House Ltd. The procurement method employed is an open procedure, with the FCA located in London, UK, serving as the buying organisation.

This procurement presents significant growth opportunities for businesses specialising in market research and data analysis. Companies with expertise in designing and conducting surveys, data processing, and qualitative research are well-suited to compete for such tenders. Additionally, firms with strong technical and professional capabilities, as well as a commitment to environmental sustainability, have a competitive edge, given that these factors are heavily weighted in the selection criteria. Small and medium-sized enterprises (SMEs) can particularly benefit by participating in various lots, as illustrated by the successful bids by multiple SMEs including Critical Research Ltd and Ignition House Ltd. This tender process enables these companies to establish or reinforce their collaboration with the FCA, thereby enhancing their portfolio and market presence.

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Notice Title

Financial Lives Survey, Waves 5 to 7

Notice Description

This award notice is related to the appointment of suppliers for the delivery of specific<br/>services for the next three waves (Waves 5, 6 and 7) of the Financial Lives survey (FLS), with<br/>the contracts to take effect from March 2025. These three waves are expected to run from March 2025 to later in 2031.

Lot Information

Specialism A: Delivery of fieldwork and weighted data

This specialism is for the delivery of the main surveys (three in total, one per wave). Services will include:

* Random probability-based survey design, sampling, questionnaire structure and simulations, weighting and technical report
* Questionnaire review, survey script programming and testing
* Data collection (online and by telephone), recruitment, incentive distribution, fieldwork monitoring and safeguarding
* Data cleaning, validation and harmonisation

Specialism B: Recontact surveys

Biennial recontact surveys in May (one per wave, three in total) and short recontact surveys (two per wave, six in total), including:

* Recruitment and incentivisation
* Script programming and testing
* Data processing and weighting
* Data and data tables
* Methodological note

Specialism C: Data tables

Production of data tables for the main surveys, including:
* Profiling data tables, circa 20 volumes per wave
* Tracker data tables, to identify statistically significant differences between waves
* Gross data tables, which present results in terms of millions of UK adults
* Amending the profiling and tracker tables for publication

Specialism D: Reporting

Services will include but not be limited to the following:
* Authoring/ co-authoring reports for publication
* Producing/ supporting the production of slide decks for publication
* Support analysis and reporting for different teams at the FCA (not necessarily for publication)

Specialism E: Cognitive testing and qualitative research

Services will include but not be limited to the following:
* Cognitively testing new questions for each wave of the main survey
* Follow-up qualitative research with respondents from the main survey

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0455e4
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/002400-2025
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
Planning Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large, SME

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security


CPV Codes

79310000 - Market research services

Notice Value(s)

Tender Value
£5,550,000 £1M-£10M
Lots Value
£5,550,000 £1M-£10M
Awards Value
Not specified
Contracts Value
£6,020,000 £1M-£10M

Notice Dates

Publication Date
23 Jan 20251 years ago
Submission Deadline
27 Aug 2024Expired
Future Notice Date
26 Jun 2024Expired
Award Date
23 Dec 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
FCA
Contact Name
FCA Procurement
Contact Email
fcaprocurement@fca.org.uk
Contact Phone
+44 8001116768

Buyer Location

Locality
LONDON
Postcode
E20 1JN
Post Town
East London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI41 Hackney and Newham
Delivery Location
Not specified

Local Authority
Newham
Electoral Ward
Stratford Olympic Park
Westminster Constituency
Stratford and Bow

Supplier Information

Number of Suppliers
3
Supplier Names

CRITICAL RESEARCH

IGNITION HOUSE

NATIONAL CENTRE FOR SOCIAL RESEARCH T/A NATCEN SOCIAL RESEARCH

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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                "measure": "smeBids",
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                "value": 1
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                "id": "7",
                "measure": "smeBids",
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                "value": 1
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                "id": "10",
                "measure": "smeBids",
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                "value": 2
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                "id": "13",
                "measure": "smeBids",
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                "id": "2",
                "measure": "electronicBids",
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                "id": "5",
                "measure": "electronicBids",
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                "value": 2
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                "id": "8",
                "measure": "electronicBids",
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                "id": "11",
                "measure": "electronicBids",
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                "value": 2
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                "measure": "electronicBids",
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                "value": 3
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        ]
    }
}