PFP Briefs: March 17, 2003

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State Farm’s now There for Financial Advice, Too: Marking the entry of another deep-pocketed player in the race for investors’ dollars, insurance giant State Farm recently kicked off its first national financial services advertising campaign. The unified effort marks the first time the firm is bringing attention to the fact that it’s more than an insurance company, a State Farm spokesman said. The company, which has been in the insurance business for more than 70 years, opened a bank in 1999 and began selling mutual funds in 2001. State Farm has roughly 28 million existing customers. DDB Chicago is handling the campaign, which will include spots on major television networks as well as radio, print and direct marketing. While the firm wouldn’t say what it is spending on the endeavor, media reports estimated spending at more than $15 million.

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