Stockbroker Cuts Contenders to 5 Finalists; Decision Expected at End of the Month
By Rob Lenihan and Hank Kim
NEW YORK--A.B. Watley, a 40-year-old stock brokerage, has narrowed the search for an agency to handle all duties on its estimated $5 million ad account to five shops.
Anthony Huston, executive vice president of Watley parent Internet Financial Services in New York, declined to identify the finalists.
Three of the contenders prior to the cut were DiMassimo, Adler Boschetto Peebles & Partners and Mad Dogs & Englishmen, all based in New York, said sources.
A final decision is expected at the end of the month, Huston said.
Huston said he had met with about 20 agencies in the course of the search. "We're looking for something with a strong creative side that strictly adheres to financial guidelines," he said. "We want results."
While not naming names, Huston said one large agency eliminated itself when it sent a reel describing the creative elements of a campaign. "[It had] a very flip attitude toward the financial aspect of production," he said. "There was an over-emphasis on creativity versus productivity."
The winning shop will create a campaign to break in early 1998.
The client, which has been handling ad duties in-house, offers live stock data online and the ability to send trades directly to exchange floors.
Watley and its main rival, Quote.com Live!, target serious investors and professional money managers who typically place more than a dozen trades a day.
--with Teresa Andreoli