So long Colonial, Newport and Crabbe Huson. Those names will disappear as part of
Liberty Funds Group rebranding campaign which started this week. In addition, the Stein Roe name will be dropped for funds sold through advisors but retained for the direct retail channel. Meanwhile, The
Acorn Fund family, which Liberty will acquire as part of its recent purchase of Wanger Asset Management, will be redubbed with Liberty Acorn monikers.
Liberty announced the changes today, although it said that it has been working with broker-dealers on the change in brand for "months". The fund company is currently contacting advisors directly to inform them of the changes
Philip Fragasso, managing director for marketing for Liberty funds told the MutualFundWire.com. It will inform investors of the changes in its second quarter mailing.
"This was the logical next step the integration that has been happening over the past few years," he explained. Liberty already combined the sales and marketing groups for the five fund families last year.
"There are a lot of advantages in having multiple fund managers under the same roof, as we do at Liberty," he added. "But up to now, some financial advisors have not fully understood the depth and breadth of our product line and capabilities. As a single fund family that provides multiple investment management styles, we provide advisors with the ability to move their clients' assets among Liberty funds as their needs change."
The rebranding also includes the reworking of the company's collateral, marketing material and educational materials. The objective, said Fragasso, was to make the materials more friendly to advisors and investors. The new approach relies more on storytelling with an emphasis on more graphics and less type and a "friendlier more simple conversational tone," he said.
As a part of the campaign, Liberty will relaunch its Web site on July 17 and unveil two major programs for advisors. One will provide customized marketing tools to help advisors better serve their clients and prospects. The other will be a Web-based investment education program, which advisors may "private-label" and offer to their clients.
"Our goal is to become a true business partner by enhancing our customers' ability to attract and retain clients," Fragasso said. "Our message to advisors is, 'We get it. We understand your needs.'"
Liberty will spend more than $1 million on an advertising campaign targeted at advisors to build the new brand. The ads will run in eight trade publications, including Ticker, Investment News, Registered Rep, Financial PLanning and Bank Investment Marketing.
Wallwork Curry of Boston was the ad agency for the campaign and
Human Factor Marketing of Manchester, New Hampshire developed the new marketing materials.
The five fund groups include more than 50 funds with approximately $67 billion in assets.
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