LPL Financial has launched its first national ad campaign aimed directly at consumers, tapping actor Anna Kendrick for a television commercial in which she drags an enormous patch of lawn through a city, asking viewers, “What if you could have the greener grass on your side?”
The ad campaign's rollout is taking place during the 107th PGA Championship, which runs through May 18.
LPL’s multimedia “What If You Could?” campaign asks consumers to imagine achieving their goals, such as starting or overhauling a business. It includes video, social, billboard, public transit, print and digital ads that will run on business, sports and lifestyle outlets throughout the country.
The TV commercial’s director of photography is cinematographer Rodrigo Prieto, a former Academy Award nominee known for films such as “The Wolf of Wall Street” and “Brokeback Mountain.” Advertising agency Zambezi produced the campaign, AdAge reported.
“Based on advisor feedback, we're introducing LPL Financial to the consumer market for the first time, establishing a connection with the people who rely on LPL advisors and affiliated institutions to help them reach their goals," LPL Financial CEO Rich Steinmeier said in a statement.
The campaign's launch comes about six weeks after LPL announced it was buying Commonwealth Financial for $2.7 billion in cash.
Positive Reception
April Rudin, founder and CEO of global wealth marketing firm The Rudin Group, praised LPL and Steinmeier for the campaign.
“It represents a departure in style, tone and audience,” Rudin told ThinkAdvisor, citing the ad’s emphasis on retail investors. “It's targeting a younger, female client or prospect,” which is "a smart move,” she said.
Plus, the ad campaign “creates great brand awareness for LPL” in terms of both its advisory business and also for advisor recruiting, she said. “There’s a halo effect by making people more aware of LPL.”
Raymond James, which has been running campaigns targeting investors since 2000, has more “Main Street” brand awareness thanks to this approach, Rudin notes.
Unlike Raymond James’ ads, though, LPL’s campaign features a well-known actor. This focus makes LPL's new ads “more of a production and shows a commitment to advertising, marketing and messaging to end investors and advisors alike,” she added.
The campaign also shows changing attitudes in the advice industry about how to best market itself to the public. “Broker-dealers have been in the back seat,” said Rudin. “LPL’s new campaign shows they’re moving to the front seat.”
'Influencer Marketing'
The TV commercial also drew kudos from other industry players on LinkedIn.
“I can't not comment on this. LPL Financial has hired Anna Kendrick to help their reach. THIS is what you call influencer marketing,” Niki Clark, a marketing consultant for financial advisors, posted on the career site. “Like them or not, LPL knows the power of influence.”
Kendrick’s lengthy filmography includes “Woman of the Hour,” “Up in the Air” and “The Accountant.”
Paul Hatch, founding partner and CEO of Vestria Capital, posted on LinkedIn:
“Never thought I would re-post a commercial but…
1. It’s LPL, not known for their commercials.
2. Who doesn’t like Anna Kendrick?
3. It’s honestly … really good!”
The BD's latest advisor headcount, not including any Commonwealth reps, was 29,493 as of March 31. Advisory and brokerage assets stood at $1.8 trillion.
Courtesy photo: LPL Financial
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