Latest research from Phoenix Marketing International shows what constitutes effective advertising directed toward financial advisors, how advisors evaluate financial services firms offering investment and insurance products, advisors' likelihood to recommend these firms to their clients, and critical information needed by their clients
RHINEBECK, N.Y., Feb. 2, 2010 — Phoenix Marketing International, one of the fastest-growing research companies in the U.S., announced today findings from its latest survey among financial advisors working for Bank, Independent, Insurance, Regional Broker-Dealers, or National Full Service Brokers, plus Registered Investment Advisors working for a small practice or advisors with General/Brokerage Marketing Agents.
Conducted this past November, the Phoenix study shows that American Funds, Vanguard, John Hancock, Franklin Templeton, and Fidelity command the most favorable overall impression among firms well known to advisors. John Hancock, Prudential, Vanguard, and MetLife are leaders among the most important criteria for advisors when recommending a brand to their clients. Given the continuing economic turmoil, "Advisors consider it most important that financial services firms conduct business with the highest ethical standards, and are perceived as companies their clients can trust. Consistency of product performance and strong industry ratings are also highly valued. The most effective advertising successfully reinforces these critical brand strengths," stated Sarah Thompson, Phoenix VP managing this semi-annual study.
Phoenix reports that 57% of advisors indicated the impact of the economic crisis on their business has been negative, while approximately one-third reported no impact to date, and 11% view the crisis as having a favorable impact on their business. Although Advisors are generally more pessimistic than optimistic about the economic environment, Phoenix results suggest that the turmoil has provided an opportunity for Advisors as the majority indicated that they have had more contact than usual with their clients as a result and this has helped with relationship building.
The Phoenix study was conducted among 950 financial advisors who sell securities, retirement services, and/or insurance products. Study data are representative of the U.S. financial advisor universe grouped by the type of firm at which advisors work. Also reported are detailed evaluations of 31 broker-targeted print advertisements representing 27 leading brands such as American Century Investments, Barclays/iShares, Charles Schwab, Fidelity Investments, Franklin Templeton, Goldman Sachs, Janus, John Hancock, Lincoln Financial, MassMutual, Morgan Stanley Smith Barney, Nationwide, Oppenheimer, Prudential, Raymond James, State Street, Sun Life, T. Rowe Price, Vanguard and Wachovia Securities. Print ads that achieved the highest overall assessment were for John Hancock, Franklin Templeton, American Century and Oppenheimer. "Conversely, the least successful ads share a number of common weaknesses observed in recent years by Phoenix and promote the offerings of ProFunds, Goldman Sachs, and Raymond James," added Thompson.
A summary of study findings is available for purchase from Phoenix and a custom report can be produced for financial services firms seeking detailed analysis of their brand health and the effectiveness of their broker-targeted print advertising.
Phoenix Marketing Contact:
Sarah Thompson
VP/Financial Advisor Research
917-512-2108
Email
# # #