Aegon UK, the financial services group, has appointed the Faulds
Group to work on a range of consumer marketing initiatives following a
Aegon has traditionally sold its products, including life, pensions, and
protection investment products and services, via independent financial
advisers. However, the new work, due to break in 2002, could target
consumers directly and may include above-the-line marketing for the
Navigator, the direct marketing arm of the Faulds Group, has worked with
Aegon UK in the past on a variety of projects.
Aegon said details of the project have not been finalised. However, a
spokesman confirmed the work could involve branding, advertising, and
below-the-line activity in its later stages.
Gavin Stewart, group development director at Aegon UK, is heading
marketing for the project. Prior to his current role, Stewart was
e-commerce and marketing director at Scottish Amicable.
Aegon UK, part of the Netherlands-based Aegon Group is the holding
company for Scottish Equitable.
Aegon is pursuing an aggressive strategy for growth, having purchased
the Royal Exchange Group and Guardian Financial Services in 1999 and HS
Administrative Services, a third-party pensions administration company,
The Faulds Group declined to comment on any aspect of the account
With a move toward targeting consumers directly, Aegon would follow in
the footsteps of several other financial services brands.
Royal & SunAlliance recently launched a new consumer facing brand, More
th>n, while reserving its traditional brand for business through
independent financial advisers. After scrapping its sales force,
Prudential is also marketing directly to the consumer.
For Aegon to pursue a more direct strategy, the brand would need to come
up with a positioning of considerable quality.