In rare move, LPL buys television ads

Spots counter firm's adviser-first posture

Feb 17, 2013 @ 12:01 am

By Bruce Kelly

LPL Financial LLC is trying to reach a wider swath of brokers by buying commercial ads on business news channel CNBC.

It is the first time that LPL Financial has used a national media campaign since being acquired by two private-equity firms in 2005. The use of commercial spots runs counter to the company's long-stated position that the LPL name and brand take a backseat to individual registered representatives and investment advisers.

The ads, which are 10 seconds long and pop up in between news segments, will appear 10 times a day on CNBC for six weeks, said Joan Khoury, managing director and chief marketing officer of LPL.

She called the ads a “ticker sponsorship,” and the message is aimed at the adviser market.

The ads are positioned above the scrolling stock ticker during live content.

“This begins our attempt to reinforce the strength of the independent model and show how advisers and institutions aligned with us benefit from the business model,” Ms. Khoury said.

The campaign is part of the company's broader restructuring, which also includes outsourcing some jobs and potential layoffs in the second half of this year.

The ads were shown to advisers at a recent meeting, and the response was positive, Ms. Khoury said.

LPL Financial became a publicly traded company in November 2010, and some advisers have grumbled about changes and growing pains at the company.

When asked how the ad campaign fits into the context of the company's overall strategy, Ms. Khoury said: “It's about becoming a public company along with the shift of advisers' becoming independent. It's also about looking for a brand to enhance theirs.”

The campaign also is about “repositioning for future growth,” Ms. Khoury said.

LPL Financial likely paid be-tween $100,000 and $140,000 for the six-week campaign, said Marc Morse, senior vice president for national broadcast at RJ Palmer LLC, a media advertising agency.

bkelly@investmentnews.com Twitter: @bdnewsguy

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Gadget Girl

Gadget Girl: The case of demystifying workflows

For today's case, Gadget Girl infiltrates Redtail U to find out how they have flipped the script on process and workflows by creating a great training program for advisers and their support staff.

Video Spotlight

Help Clients Be Prepared, Not Surprised

Sponsored by Prudential

Recommended Video

Path to growth

Latest news & opinion

Why private equity wants a piece of the RIA market

Several factors, including consolidation in the independent advice industry and PE's own growing mountain of cash, are fueling the zeal to invest.

Finra bars former UBS rep for private securities transactions

Regulator says Kenneth Tyrrell engaged in undisclosed trades worth $13 million.

Stripped of fat commissions, nontraded REIT sales tank

The "income, diversify and interest rate" pitch was never the main draw for brokers.

Morgan Stanley fires former Congressman Harold Ford for misconduct

Allegations against the wirehouse's former managing director include sexual harassment, which Ford denies.

Senate tax bill changes for pass-throughs more generous than House version, experts say

Senate measure's handling of such small-business income is simpler and makes allowances for more service companies.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print