Merrill Lynch is running new ads during the NBA Finals, U.S. Open golf championship and other sports events this summer and early fall to strengthen its historic brand, the company says. Experts say the strategy makes sense, especially given the continued market volatility.
The ads feature a live bull and aim to expand Merrill’s “Power of the Right Advisor” message, which was launched a year ago.
“It’s about reinforcing the idea that advisors are the linchpin of the business, as are well-managed client relationships, and that our advisors and clients stay with each other through thick and thin,” said Justine Metz (right), head of marketing for Bank of America (BAC) Global Wealth & Investment Management, in an interview with AdvisorOne.
“With market volatility, of course, we’ve wanted to be as supportive as possible and to get as much information as possible to clients,” Metz said.
Some Merrill Lynch ads can be heard or seen on Bloomberg, radio stations, Bank of America ATMs, and at the home parks of the Chicago Cubs, New York Yankees, Boston Red Sox, Los Angeles Dodgers and San Francisco Giants.
“A solid brand name is an important part of the wirehouse value proposition for advisors,” said executive-search consultant Mark Elzweig, in an interview. “Merrill Lynch advisors will likely welcome this new advertising campaign, and it will help the firm in its recruiting efforts, as well.”