Silver: Challenger Strategy
When it comes to investing, most Canadians use one of the big five banks. When Canada’s largest independent online brokerage, Questrade, launched its low-fee robo advisor platform, only online traders knew about the company.
Research showed that Canadians don’t know how much they are paying in investment fees. This feeling comes to a head each year when they face their financial advisor to review and update their accounts.
Online brokerage Questrade and agency No Fixed Address decided to turn the tables on advisors by putting them in the shoes of consumers unaware of hidden fees. A campaign was created to inform, empower and encourage investors to “Ask Tough Questions” about their money.
The team kicked it off with TV commercials that contrasted traditional upbeat bank ads with happy customers and advisors. The first spot shows a woman asking a pointed question about fees. In another, a man poignantly explains to the advisor that they aren’t talking about a game, but his family’s future. In each spot, the advisor responds with an awkward look.
Questrade also asked a series of questions like, “Whose retirement are you really paying for?” at airports, along commuter routes and beside investment articles. The brand used a calculator on its website to show how the average Canadian investor could retire up to 30% wealthier by using its low-fee platform.
Questrade’s business more than doubled its monthly growth, increasing to more than $5 billion in assets.
Credits
Brand | Questrade
Agency | No Fixed Address
Planner | Rachel Lai
