Sponsor (Oct-Dec 1964)

. . • a watchdog tion's two largest trading institutions. Other exchanges also have strict ad requirements, including the National Assn. of Securities Dealers. There is a similarity here to the rigid standards of the medical profession which permits its practitioners to do little more than "advertise" their names and locations. This approach is understandable since trust and confidence make up the backbone of the brokerage business. But restraint has introduced a barrier to growth-minded firms interested in presenting a distinctive image. They are competing for the "35 million non-shareholders (who) are on the threshold of investing or (are) interested in learning more about it," according to the New York Stock Exchange. Edwards & Hanley's 60-second taped video spots mark the firm's introduction to television. Although its tv campaign has been on only since September, "Already there are indications that our tv commercials are getting our image and our advertising message home," says Bert G. Edwards, managing partner. Edwards & Hanly's Bert G. Edwards "Watchful of Your Interests" was developed as an advertising theme after research found that alertness and service were the qualities most wanted by clients. Both sponsor and agency agreed that a Great Dane would best symbolize the theme, and a prize winner, "Champion The Imp of Carlsdane," was selected for the commercials. After a barking introduction, 'The Imp" fades into a watchdog symbol, and a spokesman for Edwards & Hanly explains the services offered that are "watchful" of clients' interests. Next, a telephone conference between "client" and "broker" points up the spokesman's message. The 12 regional offices of E&H light up on an area map, and the announcement closes with the watchdog symbol and the suggestion that research reports are available on request. Investors are reminded that they must take the initiative, a qualification called for by the industry's regulations. An amusing problem developed during the taping, when the Great Dane proved so over-active and playful that a "stunt" dog was substituted. But the obedience-trained stand-in was too easygoing to convey an air of watchfulness. "The Imp" was called back to stand-in for his stand-in. He did his own acting, despite the number of takes and the time involved. The tv promotion consists of four one-minute spots per week during news programs on WCBS-TV New York, for a 13-week period. This is to be followed by 10-second ID's over the next 39 weeks. Later this year, plans call for a second tv station in New York to be added to the schedule. During the next 12 months, expenditures for radio and tv advertising are expected to be approximately $200,000, with three-fourths of this outlay going to video. Edwards & Hanly sees the following long term benefits from its advertising campaign: 1 . Creation of an image distinguishing the firm from its many competitors. 2. Informing viewers that it understands and is ready to meet the public's growing demand for intelligence and professional alertness in handling investments and giving guidance. 3. Making Edwards & Hanly a household name, thus putting the company in an excellent position to win its fair share of new business. This is a consideration that should not be underestimated, for share ownership is growing rapidly. Industry estimates of 20 million stockholders in the U.S. may be borne out when the New York Stock Exchange's census is released in 1965. The Exchange's most recent survey (conducted in 1962) showed a total of 17 million stockholders, up 36 percent from the previous tally (in 1959). This is 250 percent above 1952's figure, the year the first stockholder census was conducted. Although securities firms theoretically offer the same type of service, the difference often lies in the "quality" of service. This is an allimportant area, but one which is taboo for brokerage house advertising. But the alertness theme and watchdog trademark of E&H's commercials effectively impart an image of a firm that exercises care with judgment. Edwards & Hanly also uses radio Continued on page 38 The New York Stock Exchange administers a strict set of rules and policies ("Communications with the Public") designed to assist member firms in maintaining a high quality of advertising. To avoid duplication, if brokerage houses are members of both the New York and American Stock Exchanges (as many are), advertising need not be submitted to the American Exchange if it has been approved by the "Big Board." Specifically governing radio and tv commercials is NYSE rule 473, which states: Members and member organizations desiring to broadcast New York Stock Exchange quotations in radio or tv programs, or in pub 36 SPONSOR