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Financial planning player TIAA-CREF is talking to agencies about its creative and media business.
The company has issued a request for proposals to more than a dozen agencies that’s due back this week, according to sources. Based on submissions, TIAA-CREF marketing leaders are expected to narrow the field to about six shops that they will visit.
After a relatively quiet past three years, the company plans to ramp up its advertising considerably, with one source estimating that annual media spending may reach $50 million.
In contrast, TIAA-CREF spent only about $6 million in 2010 and less than $1 million in both 2011 and the first nine months of 2012, according to Nielsen.
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