The ‘Millionaire Next Door’

Fleet Breaks TV, Print Ads for Private Clients Group
BOSTON–Sidestepping marketing-related questions stemming from its proposed merger with BankBoston, Fleet Financial Group last week launched the first campaign for its Private Clients Group.
Any advertising decisions related to the merger will be forthcoming only after a task force completes an evaluation of marketing messages by both entities, still many weeks away, a Fleet representative said last week.
Backed by what Fleet senior vice president of marketing Betsy Richardson called a “multimillion dollar” media buy, the Private Clients Group campaign includes Fleet’s first substantial magazine push.
Tagged “Build something,” the ads target wealthy individuals age 40-55. The line was developed by Heater Advertising in Boston for broadcast ads and adopted in print executions from Boston-based Arnold Communications, Fleet’s lead agency.
Two 30-second TV spots–directed by Joe Pytka and airing in Boston and New York–depict the “millionaire next door.” One ad, filmed at an upper East Side clothing shop in New York, shows a tailor adjusting a suit jacket on a well-heeled customer, who remarks casually on the outcome of a college basketball game. The tailor says his twins attend one of the universities. Surprised, the customer asks how he manages it. The answer, of course, is Fleet’s Private Clients Group.
The spots are booked on daily news and business programs, Sunday morning talk shows and specific golf events on ESPN, Richardson said.
Black-and-white print ads build on the tagline by showing, in one instance, an older gentlemen surrounded by little leaguers. “For a lot of people, success means having the opportunity to do what you’ve always dreamed. Whether it’s sailing around the world or coaching a sandlot team . . . However you measure success, the Private Clients Group at Fleet is there to help you achieve it.”
Arnold’s corporate and product-specific ads carrying the 2-year-old tagline, “Ready when you are,” will continue, said Richardson, adding there is no immediate plan to change that tack.
Boston-based Fleet spent almost $30 million on advertising last year, according to Competitive Media Reporting.