Aegon consumer job goes to Faulds

Aegon UK, the financial services group, has appointed the Faulds

Group to work on a range of consumer marketing initiatives following a

competitive pitch.

Aegon has traditionally sold its products, including life, pensions, and

protection investment products and services, via independent financial

advisers. However, the new work, due to break in 2002, could target

consumers directly and may include above-the-line marketing for the

first time.

Navigator, the direct marketing arm of the Faulds Group, has worked with

Aegon UK in the past on a variety of projects.

Aegon said details of the project have not been finalised. However, a

spokesman confirmed the work could involve branding, advertising, and

below-the-line activity in its later stages.

Gavin Stewart, group development director at Aegon UK, is heading

marketing for the project. Prior to his current role, Stewart was

e-commerce and marketing director at Scottish Amicable.

Aegon UK, part of the Netherlands-based Aegon Group is the holding

company for Scottish Equitable.

Aegon is pursuing an aggressive strategy for growth, having purchased

the Royal Exchange Group and Guardian Financial Services in 1999 and HS

Administrative Services, a third-party pensions administration company,

in 2000.

The Faulds Group declined to comment on any aspect of the account

win.

COMMENT

With a move toward targeting consumers directly, Aegon would follow in

the footsteps of several other financial services brands.

Royal & SunAlliance recently launched a new consumer facing brand, More

th>n, while reserving its traditional brand for business through

independent financial advisers. After scrapping its sales force,

Prudential is also marketing directly to the consumer.

For Aegon to pursue a more direct strategy, the brand would need to come

up with a positioning of considerable quality.

This article was first published on Marketing