Oppenheimer Adjusts Its Package

Financial services companies spend a lot of money getting their “get rich with us” message out. In fact, it’s one of the largest industries served by Madison Avenue. All of which makes launching a new ad campaign in this tricky market a sleep depriving experience.
According to The Wall Street Journal, Oppenheimer Funds is kicking off a $20 million ad effort tomorrow, but last week’s fright caused the firm to scrap two of their new ads.

The two ads that are being pushed back for now are a spot that promotes retirement and another that is largely about asset allocation and balancing risk and reward. Those two ads are “more about taking proactive steps to adjust a portfolio and make an investment decision, and I think at this point we need to wait a few weeks,” says Bruce Dunbar, director of corporate communications at Oppenheimer. Right now, Mr. Dunbar says, “people will be thinking about how they are going to readjust in the short term, versus thinking about long term.”

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