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B&B spending £10m to back Marketplace

Bradford & Bingley is spending £10m to market the launch of its IFA service The MarketPlace, with the aim of becoming the UK&#39s leading IFA.

The service offers advice on investments, pensions, insurance and mortgages from B&B&#39s 500 branches.

The campaign includes advertising on terrestrial and digital TV, in the national press, on the radio and a direct-mail campaign to two million consumers. It starts with TV advertising featuring a clothes shop only selling green suits, orange shirts and blue ties to deliver the message that high-street banks do not offer as much choice as IFAs.

Other images to emphasise this message about choice include a fish shop only selling salmon and a cinema only showing Groundhog Day.

To launch the press campaign, B& B bought up all the advertising space in one issue of The Independent newspaper to produce what it says is the first advertising-free newspaper. It says the strategy gave readers 40 per cent more editorial to reinforce the MarketPlace proposition “What&#39s best for you, not us”.

Ongoing national press advertising will aim to build the MarketPlace brand and show the range of services available.

Radio advertising has been placed on 239 independent radio stations around the UK and a website has been set up at

Commercial director Ian Darby says: “How long would a supermarket last if it only sold own-label products? Banks have got away with that for years because consumers do not have a high street alternative. Now they do.”


Experts say there&#39s still no decision on exit penalties

Pension experts claim the issue of exit penalties incurred when switching from group personal pensions to stakeholder has not been resolved by the Government and regulators despite the introduction of stakeholder this week. They also claim last month&#39s final regulations contained an extra admin burden for providers but the Government did not consult the industry. […]

AMP is poised to buy Towry Law

AMP is set to buy UK national IFA Towry Law. Money Marketing under- stands that the deal, which is being kept under wraps, follows the suspension of Towry Law&#39s shares on February 23 pending a stockmarket announcement. At the time of suspension, the shares were valued at 200p, valuing the company at £84m. Towry Law […]

Unum takes over Zurich Life&#39s group income protection work

Unum has announced it is taking over Zurich Life&#39s group income protection business following Zurich&#39s decision to concentrate on individual protection. The 1,000 strong claims book will be managed by Unum subsidiary Claims Services International. The transfer took effect on April 1 and Unum says it will allow it to further its strong presence in […]

Independent View

IFAs may be finding themselves victims of a double whammy. Not only are product providers reducing levels of commission dramatically to cope with the 1 per cent environment, they are increasing the costs to IFAs massively through totally inadequate administration. To call it an administration “service” is a complete misnomer. I recently estimated that as […]


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