Financial services watchdog hunts agency for consumer role

The Financial Services Authority is planning to appoint a communications planning agency to be the driving force behind its marketing strategy, as the body seeks to make itself a place consumers can get money-related advice.

It is understood the FSA is looking for an agency to handle the broadening of its marketing remit, after it received cash from the Treasury so that it can play a role in helping people manage their money better.

The FSA and the Treasury unveiled a package of measures to inform and educate people over their finances earlier this month. The Financial Capability Action Plan includes expanding the FSA’s consumer website Moneymadeclear, which will be backed by a significant marketing campaign after the summer. The Treasury is understood to be in talks with the City regulator, which is financed through levies on the industry, over the sum of money to be given and ringfenced for the project.

However, it is not clear if the brief would also include a communications strategy for the FSA’s corporate function as the authority battles to salve its reputation in the wake of the Northern Rock fiasco, which led to the Newcastle bank being nationalised.

It is also unclear whether the FSA will be searching for advertising and media buying agencies. The communications planning review is being overseen by the COI.

Other initiatives in the action plan include a £12m pilot of a Money Guidance scheme to be run next year across the North-west and North-east of England.

The expanded FSA consumer service, which will be “widely” promoted after the summer, will also direct people worried by rising energy bills to independent advice sources.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here