Boston, MA 04/09/2014 (wallstreetpr) – In a bid to appeal to the more serious investors and drop the image of a baby taking for itself, E-TRADE Financial Corporation (NASDAQ:ETFC) has dropped its current mascot and roped in Kevin Spacey for the job. The House of Cards actor, who plays a shrewd politician in the series, has been confirmed to take over the high-chair. In this ad, Spacey will be seen playing a talent scout who will spot the Type E investors. This ad is designed to appeal to people who feel they need help in planning for retirement. The change is effected at the realization that even the most clueless of investors know that investing is no child’s play.
Reasons for the replacement
The ad with the talking baby was introduced as propaganda that investing was easy for even a baby to invest. However, with the changing times, it became imperative to change the approach, as well. With the more pitfalls awaiting the ordinary investor in every field, it is best to warn the customer. So instead of the optimistic and carefree attitude towards investing, E-TRADE Financial Corporation (NASDAQ:ETFC) has Spacey to add an aura of danger to the whole activity. It has been unconditionally proved in the light of the recent economic conditions that there is no guarantee that random investing will yield results always.
Background Information
The lesson being circulated by the company is one that it learned the hard way itself when it incurred a stunning loss of $1.71 billion in a single quarter after which it had been forced to sell off about $3 billion worth of asset-backed securities to maintain the confidence of its customers. Though there has been a steady growth in the shares of the brokerage company, it has not yet managed to reach the level of $230 it had enjoyed before the economic crisis.
