Bradford & Bingley is to spend £6m advertising its relaunch as a high street IFA branded as The Mark...
Bradford & Bingley is to spend £6m advertising its relaunch as a high street IFA branded as The MarketPlace.
The group is looking to target its bank and building society customers through its 500 branches and will be advertising via television, radio and print media.
Tim Howe, marketing director at The MarketPlace, said: "Our market is the prospering core of the UK. That is the essence of what we are aiming for. It is not the very affluent. We are talking about the employed mass of the UK who value the service we offer."
The rebrand as The MarketPlace has made it the first bank to move away from product manufacture to giving independent advice and retailing other groups' products.
It will offer independent advice on investments, pensions, insurance and mortgages from a product schedule created by an in-house technical research department as well as the use of external consultants.
Bradford & Bingley is billing the launch of The MarketPlace as a way of opening up independent financial advice to everybody. Recent FSA research showed that 39% of people were under the misapprehension that they were getting independent financial advice from high street banks.
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