Net Trading Cos. Fish for Shops

Two online trading services at opposite ends of the spectrum–GS.com and BuyandHold.com–are conducting agency searches, sources said. Each has a new assignment that encompasses both creative and media duties.
GS, a Goldman Sachs venture that targets individuals with at least $1 million to invest, has contacted an undisclosed number of agencies about an account worth $10-15 million, sources said.
In addition to advertising, GS, based here, is interested in direct mail, public relations and event planning, according to RFPs distributed to agencies last month.
“They want to use [GS.com] to go after, primarily, high-net-worth investors,” a source said. “And I think they’re interested in agencies that have very deep direct capabilities.”
GS, which has yet to launch its service, is expected to charge an annual fee to users. And rather than enable individuals to trade, the site will serve as a means for investors to interact with brokers, a source said.
New York-based BuyandHold, which is shopping a $15 million account, touts the virtues of long-term investment. Investors can place their orders in dollar increments, starting at $20, according to its site. And since BuyandHold places orders en masse twice a day, the cost per transaction is relatively low: $2.99.
BuyandHold is using a consultancy, Richard Roth Associates, Chappaqua, N.Y. GS’s search is being led by its managing director, Larry Kutscher. Roth could not be reached; GS declined comment.