NEW YORK Discount brokerage Charles Schwab has awarded its estimated $100 million media buying and planning account to Interpublic Group's Universal McCann after a review, the client has confirmed. A client representative declined to discuss the selection process beyond confirming that UM was hired.
Other contenders included Aegis Group's Carat and the incumbent, Omnicom Group-owned PHD.
The win is UM's third big score in recent weeks, following its additions of Dyson in May and BMW in June.
PHD won planning and buying duties on the account after a consolidation review in 2005. Up to that point, PHD had been the planning incumbent for all of the client's offline advertising and had also managed print and out-of-home media.
Pictured: Company namesake Charles Schwab, who has starred in the firm's ads for years, including the current "Talk to Chuck" series.