TD Ameritrade Launches Creative Review

Media spending totals about $100 million a year

TD Ameritrade is looking for a new creative agency after splitting with incumbent Goodby Silverstein & Partners.

In October, the online broker replaced chief marketing officer Phil Bowman with Denise Karkos, who had held the No. 2 marketing role of managing director, brand strategy and marketing communications. Before that, Karkos was the company's vp of retail marketing. Karkos also has an agency background as a media supervisor at Digitas and Hill Holliday before moving on to client positions like advertising manager at L.L. Bean.

TD Ameritrade's media spending totaled about $100 million in 2012 and $70 million through the first three quarters of 2013, according to Nielsen. (Those numbers do not include Internet spending or B2B marketing.)

“After thoughtful consideration and discussion with Goodby Silverstein & Partners, we have decided to part ways,” said a TD Ameritrade representative. “We will be looking for another agency relationship, but we cannot comment further as that search is not complete.”

TD Ameritrade is using an outside consultant, Hasan + Co. in Raleigh, N.C., to manage the search, which is in its early stages, according to sources. The company aims to complete the process in April.

GSP won the business in 2011, taking over from 14-year incumbent Ogilvy & Mather. (In July, Ogilvy landed E*Trade, the online brokerage brand that GSP put on the map with ads like the 2000 Super Bowl spot, “Wasted $2 Million Bucks,” featuring a monkey dancing the La Cucaracha in a garage.)

Among the work GSP has produced for TD Ameritrade are 2012 commercials with personal vignettes using a voiceover from Matt Damon.

More recently GSP had completed Sochi Winter Olympics work for the brand, said agency co-chair Jeff Goodby.

“We’re very proud of the work we’ve created for them, especially the Olympics work we’ve done before and the Olympics work coming up and we think the world will agree,” Goodby said.

Media responsibilities are not in play and remain at MediaVest (traditional media) and Neo@Ogilvy (digital media).