Prudential Financial has confirmed that it is seeking an umbrella campaign for its master brand in a creative search that's just getting started.
The work up for grabs constitutes a new project-based assignment, a client representative said.
Sources expect the corporate image campaign to be backed by about $50 million in major media spending.
Prudential Financial offers life insurance, mutual funds, annuities and investment services, including retirement planning. The division and this particular assignment are separate from Prudential's real estate business.
The winner won't replace Prudential Advertising, the company's house agency. Rather, the shop's work will be run in tandem with ads focusing on specific products and services that are created in-house, according to the rep.
"We're looking for a creative partner agency," the rep explained. Prudential Advertising, however, is participating in the pitch.
Ark Advisors in New York is managing the process. The consultancy did not return calls.
A group of marketing leaders from Prudential's various business units will judge the contenders, the rep said. The Newark, N.J.-based financial firm hopes to complete the process by early August.
Prudential has distributed a request for proposals to about 10 shops, according to sources. Based on replies, company executives will narrow the list to about five or six agencies, which they will visit, said sources. In the end, a handful of shops will pitch the business.
Media duties are not in play and remain in-house.
