Industry newcomer Mortgage Choice Financial Planning is set to become the latest group to launch a direct marketing campaign, promoting its new advice capabilities to consumers.
In the last few years, institutions have deviated from their traditional strategy of servicing consumers via third party intermediaries, and chosen to also sell to, and advise, retail investors directly.
Direct campaigns, which typically involve television, print and digital advertising, can be very expensive.
Mortgage Choice Financial Planning general manager Tania Milnes did not disclose how much the group would spend on its campaign, which will be launched in the New Year.
The campaign was originally scheduled for earlier this year but was delayed to allow for further testing and refinement of the group’s advice proposition and its execution, and the chance for its 18 financial advisers to clear the backlog of new client appointments, said Milnes.
“We’ve held back on our consumer launch to ensure our current systems and processes could cope with the potential influx of new inquiries and appointments. Already our resources are stretched managing existing demand,” Milnes said.
“The next phase is to start telling consumers what we are doing.”
The group, which is a wholly owned subsidiary of listed mortgage broker Mortgage Choice, was established in October 2012 and has spent the last year promoting its new advice services to existing clients.
Mortgage Choice fields around 80,000 new customer inquiries a year.
