Online low-cost broker SelfWealth takes a potshot at the brokerage fees of the Big 4 banks in its latest advertising campaign designed to get consumers to switch.
Created by The Ant Hill Collective, the campaign uses the Big 4’s own tagline including the Commonwealth’s CAN slogan and NAB’s More Than Money – to get its message across.
SelfWealth’s Head of Marketing, Jarrod Purchase, said the challenger brand had made significant inroads into the Big 4’s stranglehold on share traders – particularly among families and young investors.
“Eighteen months ago we had a 2 per cent market share. Today that is closer to 7 per cent and growing every day. With more than 86,000 active traders we are a real competitor to the Big 4.”
“Whilst this campaign is a little tongue-in-cheek, we want consumers to realise that there is so much more than a slogan involved in our platform. There’s reliable information, a trustworthy and transparent process, and real savings to be had.”
“Our flat-fee of $9.50 compares to percentage-based fees at CommSec. If our members had used CommSec for their trades they would have paid an additional $42 million in fees.”
“The next generation want autonomy, but not so much as to be stifling,” said Kieran Antill, Co-Founder of The Ant Hill Collective.
“It’s about giving people freedom, but with all the tools and resources to be successful with it. In line with that, we all need to be more actively in control of our finances, and platforms like SelfWealth give people the knowledge and tools to make this a viable alternative to the traditional financial institutions. This work is just the start of waking up the average Australian.”
SelfWealth’s first major advertising campaign since 2018 will target online audiences as well as prominent outdoor locations.
Purchase said the number of traders on the platform had swelled significantly during COVID.
“At the end of 2020, 435,000 Australians began trading listed investments for the first time. According to ASIC that meant the number of active retail online investors in Australia reached 1.25 million. If they are all paying percentage-based fees instead of a flat $9.50 that is the waste of a lot of money.”
Millennials and Gen Z make up 70 per cent of SelfWealth’s client base.
“It’s been an exciting journey to be a part of SelfWealth’s growth over the past 12 months – we look forward to the new campaign coming to life and continuing the great work that Jarrod and the SelfWealth team are doing in supporting Australians with their financial aspiration,” added Rory Heffernan, General Manager of SelfWealth’s media agency Atomic 212°.
Head of Marketing: Jarrod Purchase
Creative Agency: The ant.hill collective Sydney/Melbourne (Part of the Ne-Lo.com Group)
Managing Director: Lunch’n ant
Creative Director: Precious ant
Strategy Director: Data ant
Art Director: Arty ant
Copywriter: Smarty ant
Social media writer: Social ant
Designer: Detailed ant
Senior Producer: Bossy ant
Client Services: Stressy ant
Production: The ant.hill collective Sydney/Melbourne
Media: Atomic 212
General Manager: Rory Heffernan
Performance Manager: Srinidhi Rajan
Performance Director: Matthew Todd
Performance Executive: Julie Zhu
Programmatic Director: Jeremy Ng
Strategy Director: Asier Carazo
Group Account Director: Amanda Hurst
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