Financial advertising is a mystery to many of us – why do they bother? But bother they do and US fund giant Blackrock is one of the more energetic global spenders, spending somewhere north of $400m globally.
Now the company has appointed giant production agency Tag and WPP media agency Mindshare to handle its business. It’s not clear if a conventional creative agency is in the mix too. The media business moves from MEC, also a part of WPP’s GroupM media empire along with Mindshare.
Why is financial advertising such a mystery? In part, because it is so constrained by regulatory constrictions that you can’t say anything or, if you do, there are so many caveats that the selling point is completely obscured. Having said that, Blackrock is one of the world’s biggest financial outfits – managing assets worth a staggering $5 trillion – and, sometime or other, will produce a proper ad campaign.
If and when it does – and there doesn’t seem much point in spending $400m if you don’t – it will be interesting to see if the creative stays with Tag or is shared with a creative agency.