Andy Carter, a National Lottery winner advisor, shares insights on the common pitfalls lottery winners face and the role his team plays in guiding them through their newfound wealth.
For the festive season, Mail+ is re-running some of your favourite pieces of the year. Merry Christmas!Andy Carter is unequivocal about the worst mistake Lottery winners make. And he should know, as one of the magnificent seven who make up the team of advisers for the National Lottery winners. In the past 18 years, Andy has guided more than 2,000 people who have won more than £50,000 through the first few months of their new-found wealth. In total, he has handed over more than £2 billion.
And although his team of seven advisers are banned from playing the Lottery, Andy says he’s far from jealous. ‘If you can’t enter then this job is the next best thing’. ‘It’s a great job — you’re a part of someone’s life at a time which they’ll never forget,’ says the 50-year-old father of two, who previously worked in HR at the BBC. He says each adviser has a geographical patch to cover and is sometimes matched with winners on personality and age. ‘Winning the Lottery makes people happier — on the whole. It gives them more choice, but it can take a while to get there,’ he says. Winners: Frances and Patrick scooped £115m on the EuroMillions in 2019. The couple gave money to friends and family, and have since set up two charitable foundations Inevitably, being plunged into a new world of wealth is a shock for winners, and the advisers are there to hold their hands — whether it’s a sole winner or a workplace syndicate. ‘One day I might be sitting in an 85-year-old lady’s house with a cup of tea and a piece of cake and she’s telling me all her old stories,’ he says. ‘But then I could be on a building site with brickies who want to “lad it up”. I have to be a chameleon.’ Lottery wins, says Andy, will just exaggerate existing personalities and relationships. Do you manage money well? You’ll manage these millions of pounds well too, he says. Do you have a bad relationship with your partner? A Lottery win tends to make it wors
LOTTERY WINNERS FINANCIAL ADVICE WEALTH MANAGEMENT RELATIONSHIPS
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