The Financial Services Forum (FSF), the trade body for marketers in the sector, has set up an agency selection service aimed at financial services companies, designed to rival the AAR.
Four financial services experts will run the service. It will work with clients to identify their needs, create a list of potential agencies for them and then help them through the pitch process.
There is also a development service that will ensure clients and agencies work effectively together after a deal has been struck.
FSF Advisory Board chairman Anthony Thomson says: “Research among our members shows that there is a clear call for support in the area of identifying, selecting and managing marketing communications agencies.
“The marketing of financial services is different [to other sectors]. We believe that the experience and expertise of our team in identifying the key issues involved provides our service with an important and valuable point of differentiation.”
The selection service will be managed by financial services consultant Peter Le Beau and former financial services marketers Veronica France and Jan Smith. Author and former marketer Nigel Linacre will oversee the development service.
The FSF was set up last year. It has over 200 members comprising senior financial services marketers and chief executives.