- The entire task of persuading millions of Britons to protect their financial futures has been consolidated within the Abbott Mead Vickers group.
The final appointments on the £15 million assignment were completed this week with the naming of Abbott Mead Vickers BBDO to handle the creative assignment and media planning and buying going to New PHD.
The wins mark a clean sweep of the business by AMV, whose Fishburn Hedges subsidiary has already been awarded the PR task on the so-called Savings and Long Term Risk Project.
The SALTR initiative is the idea of an alliance of major banks and insurance companies, which are uniting to encourage people to save regularly, take out life insurance and join pension schemes.
Their scheme is partly an attempt to get middle and lower income groups to pay more attention to planning their financial futures as the Government eases the burden on an overstretched welfare state.
At the same time, financial institutions want to repair the industry's collective image, which was badly tarnished by he £11 billion pensions mis-selling scandal.
AMV, Bates UK and Saatchi & Saatchi, which contested the assignment, all presented creative work although none is likely to run until next year when a TV-led offensive will begin.
Approval, of the advertising is expected to be a drawn-out process because of the keen interest being shown in it by the Government's Financial Services Authority.
The agency selection process has already proved a marathon with project executives announcing in January that they were lining up agencies to pitch for the business.
Logistical problems in getting the key decision makers together delayed matters and it was only within the last month that the shortlisted agencies made their pitches.
The SALTR assignment builds on AMV's existing financial portfolio which includes the £8.7 million Prudential business.
This article was first published on Campaign