The John Nuveen Co. is seeking a new agency to get the investment house's name in front of more brokers and financial advisers, a company representative said last week.
Nuveen is splitting with longtime agency Publicis-Hal Riney & Partners in Chicago and has enlisted marketing consultant Lisa Fortini-Campbell to help find a new shop, said Nuveen representative Kathleen Flanagan. Fortini-Campbell had headed the Riney office, and won the Nuveen business, earlier in her career.
Nuveen spends about $5 million a year on advertising, Flanagan said.
Agencies have yet to be contacted as the company develops a set of criteria. Nuveen is not limiting itself to Midwestern agencies at this point, Flanagan said. A short list of four or five shops is expected to be in place by July, with those agencies to give presentations. A final decision is targeted for Labor Day.
"We're looking for a strong creative approach to strategic problem-solving," Flanagan said.
With Riney, agency of record since 1990, Nuveen's advertising was more consumer-focused, with print ads appearing in mainstream publications and crossover media such as the Wall Street Journal and Barron's. The mix is expected to shift toward more esoteric outlets such as American Banker, Flanagan said.
Nuveen has aired TV spots, but its broadcast work is presently limited to a tennis tournament it sponsors.
The new agency will be charged with building Nuveen's position with "the brokers and advisers who sell our products," Flanagan said.
Nuveen has traditionally focused on municipal bonds, but recently expanded into equity funds and unitrusts.