Gorelick Joins Online Service, Prepares for National Launch
BOSTON–In preparation for a national launch in the fall, MutualFunds.com has tapped Abe Gorelick as senior vice president of marketing and is in the final stages of selecting an agency of record for what is expected to initially be a $5-10 million account.
Gorelick is in the midst of separate searches for both advertising and public relations agencies, which he hopes to conclude as soon as next week, he said.
Gorelick, a former agency executive who is overseeing the reviews without assistance from consulting firms, declined to identify contenders. It is believed that mid-sized players in Boston and New York with some financial services experience are involved.
The winning ad shop will be asked to handle creative and media chores, introducing Mutual-Funds.com to retail investors, financial advisors and the general public when the service launches in the fall, Gorelick said. Both online and offline efforts will be employed.
The goal of branding efforts will be to make MutualFunds.com “the premier unbiased destination about mutual funds. [There will be] no promoting any one fund family or type of investment,” he said.
The service is something of a hybrid, providing financial news and analysis, professional education courses, employment listings and online trading capabilities, he said. Potential competitors include online brokerages and news services, but the client believes its scope will allow it to be positioned as “a partner to the industry” as a whole, Gorelick said.
Gorelick joins the Boston-based client from crosstown firm Kobrick Funds, where he had been senior vice president of marketing since 1998, working with Cipriani Kremer Design, a unit of Arnold Communications, Boston, as his principal agency resource. Prior to that, he spent three years as vice president of marketing services at Epsilon, Burlington, Mass., the direct and database marketing firm. He has also worked at New York agencies Bates Worldwide and Kirshenbaum Bond & Partners.
“Abe’s strong marketing and brand development experience will be invaluable as we look to establish ourselves,” said Bruce Speca, president and chief executive of MutualFunds.com.
Currently, MutualFunds.com, formed late last year, uses the positioning line “Improve your performance” on its site. It has not been determined if that line will carry over into advertising campaigns, Gorelick said. K