Merrill Bats on Behalf of Advisors at World Series
Merrill Lynch Wealth Management is leveraging Games 3 and 4 of the Dodgers-Astros World Series to run its first television campaign .
Aimed at drumming up business for the firm’s almost 15,000 brokers among prosperous older viewers, the ad will run in Friday’s and Saturday’s games and encourage viewers to contact advisors with such questions as how much they need to retire and whether it makes sense to launch a nonprofit business in retirement.
“Good questions lead to good answers. Our advisors can help you find both,” the ad says.
The promotion, which is distinct from an online campaign that parent company Bank of America runs for its millennial-focused Merrill Edge business, comes as Merrill Wealth head Andy Sieg is pushing brokers to focus on signing up new accounts from customers with at least $250,000 to invest.
A Merrill Lynch spokeswoman declined to comment on the cost of the ads, but advertisers ponied up $400,000 to $500,000 for a 30-second slot in last year’s Fall Classic between the Chicago Cubs and the Cleveland Indians, Bloomberg . The 2017 Series is expected to attract larger audiences because of the size of the teams’ hometowns and the heightened viewership in this year’s league championship series.
Merrill, to be sure, has not purchased time on games beyond Game 4, when ad revenue collected by broadcasters is expected to approach .
Merrill’s TV relaunch follows a print, digital and social media campaign in late 2016 aimed at its then forward-seeming decision to ban commission-based retirement accounts, which it positioned as championing a “higher standard of care.” It also ran an image campaign across the same media in March telling investors it was “bullish” on their future, and last week launched a new print campaign with the slogan, “The market for good advice is booming.”
The company plans to extend the campaign beyond the Series on TV and in other media beginning on November 6. In addition to pitching retirement planning, its ads will focus on legacy planning, college costs and caregiving.
Merrill is hardly the first financial services company to be stepping up its marketing to the investing public or to seize on hot-topic subjects. Charles Schwab Corp. launched a national television campaign aimed at attracting wealthy investors to the fiduciary standard of care offered by registered investment advisers who use the company as their clients’ custodian.
Merrill’s 2017 World Series Ad
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