Discount-brokerage firm Quick & Reilly/Fleet Securities has dropped Publicis and will start a review for its account, sources said.
The New York shop has handled creative and media duties for the Palm Beach, Fla., client for the past three years.
Quick & Reilly, with $800 million in revenues in 1998, ranks third among discount brokerages, behind Charles Schwab & Co. and Fidelity Brokerage Services, per business-information service Hoover's Online.
Much of Publicis' TV, print and radio work has primarily been direct-response advertising. Sources said the lack of a branding campaign for the client has resulted in low awareness of its name and services.
Publicis officials could not be reached for comment. Quick & Reilly president and chief operating officer Tom Quick, whose father, Leslie, founded the business in 1974, declined to comment.
Sources also said Anne Finucane, svp, corporate marketing at Quick & Reilly owner Fleet Boston Financial, has been keen on Wieden & Kennedy's work on Suretrade, a Quick & Reilly online brokerage company.
Two sources have also said that Quick & Reilly favors Wieden & Kennedy for the account. Wieden & Kennedy executives did not return calls.
Although sources said the account is worth $12 million, Competitive Media Reporting shows that Quick & Reilly spent $5 million on media in 1998 and had a $2 million outlay through September 1999.
--with Judy Warne