Financial services provider, 10X Investments, has launched a campaign to lift the lid on troublesome retirement industry practices that are often not in the best interest of South African investors and could hinder them from reaching their retirement goals.
According to Steven Nathan, CEO, it aims to highlight issues facing consumers, such as too much choice, complexity of products, high investment fees and lack of transparency. "Ultimately, the purpose is to make consumers more aware of the dangers of the wrong retirement solution and highlight how simple retirement planning and investing can really be."
The campaign, which was developed by award winning agency M&C Saatchi Abel, will feature TV, radio, print and digital adverts that focus on the company's philosophy of offering one simple, optimal retirement solution. The new advertising campaign went live on 12 May 2014.
Clear concise messages
Mark Winkler, ECD at the advertising agency, says that it was imperative for the agency to develop a brand campaign that was clear, concise and understandable - especially taking into account the technical nature of the retirement fund industry.
The new campaign includes headlines, such as, "What good is choice if you don't know what you're choosing?", "Forty years is a long time for a rabbit not to appear" and "Paying 2% more in fees for 40% less in returns? Now that's mental arithmetic."
To drive home the message of proper retirement saving, the pay-off line is, "Why settle for less?" this is key, at a time when 'less than 10% of the country's population has enough money to comfortably retire, without having to compromise the standard of living' - South African National Treasury, 2013.