Towry Law, the UK private and corporate wealth advisory firm, has been hired by Camelot, the company that runs the UK national lottery, to advise people who win payouts.

It has joined a small panel of professional firms advising Lottery players who win more than £250,000, a payout that puts winners in the mass-affluent category. Winners of sums of £1 million or above are propelled into the ranks of high net worth individuals.

Since the UK national lottery started in the 1990s, there have been a number of stories of winners ending up spending all their winnings quickly or even reverting to lives of relative poverty.

For example, John McGuinness, a hospital porter who won £10 million on the lottery, returned to a life mired in debt after his wealth was spent on board membership of a Scottish football club.