With the addition of financial services firm JB Oxford & Co., Dailey & Associates is venturing into a category not represented on its diverse client roster in recent years.
While agency brass acknowledge the client's ad budget is only a fraction of what rival discount and online brokerages spend, they said they are up to the challenge and glad to be back in the game.
"In the ad business, it's great to have a new client that is better than people think it is," said Dailey president Brian Morris. "The more we found out about JB Oxford, the more we kept asking, 'Why don't people know about them?' "
Morris said the $10 million budget might be dwarfed by those of E*Trade and Charles Schwab, but said JB has, in fact, built a "better mousetrap."
JB Oxford, based in L.A. and with branches in New York and Miami, most recently used the agency 120 (formerly Think New Ideas). Company president Jamie Lewis said he moved the account in a bid to "really drive growth."
The challenge is to gain recognition in a crowded field, said Tom Lehr, management supervisor on the business at Dailey in West Hollywood, Calif. "Some of the competition in this field spend $150-200 million on ads," Lehr said. "Our job is to break through."
Morris said the agency's last financial client was Great Western Banks, which had been on the roster for 20 years until it was acquired by Washington Mutual four years ago.
Morris said JB Oxford should not be viewed as as dot-com even though it uses the Web for the bulk of its transactions. "This is a company that is up and running," he said. "They are more legitimate than that."