Complement
to
existing
work

Naturally,
anyone
who
thinks
about
FOA
and
the
reverse
mortgage
industry
leader
it
previously
acquired
—


American
Advisors
Group
(AAG)
—
will
think
of
the
ubiquitous
ad
campaigns
featuring
actor
and
spokesman

Tom
Selleck.

Moschner
addressed
this
topic
by
saying
that
the
work
with
Selleck
is
not
going
away
but
will
coexist
alongside
the
new
campaign.

“At
this
point,
we’re
not
in
a
position
to
say
what
our
long-term
relationship
will
be,
but
I
can
say
that
he
remains
our
spokesperson
and
a
key
part
of
Finance
of
America’s
strategy,”
Moschner
said.

For
now,
the
new
campaign
and
the
existing
Selleck
campaign
will
continue
to
be
used,
he
said,
but
the
effectiveness
of
this
approach
will
be
assessed
down
the
road.

“I
think,
over
time,
we
will
make
a
determination
[regarding
whether]
we
continue
to
live
in
this
world
where
they
are
complementary,
or
is
it
a
world
where
ultimately
the
Selleck
campaign
becomes,
potentially,
a
minority
player
in
an
overall
master
campaign
strategy?”
Moschner
said.
“Or,
potentially,
even
in
a
world
where
the
Selleck
work
ultimately
goes
away.
Those
are
decisions
yet
to
be
made.”

Selleck
once
comprised
100%
of
the
company’s
marketing
presence,
but
that
has
given
way
to
a
place
where
it’s
about
50/50.
This
will
be
maintained
for
at
least
the
next
quarter,
Moschner
said.

“As
usual,
we’re
a
data-led
company,”
he
said.
“We’ll
let
the
market
tell
us
where
to
go
from
there.
If
it
looks
like
that’s
working,
potentially
that
goes
longer.
If
it
looks
like
we
need
to
make
any
adjustments,
we
will
adjust.
We’re
not
going
to
be
ignorant
of
what
the
data
is
telling
us.”

For
now,
however,
the
two
campaigns
exist
simultaneously,
and
Selleck
“is
still
very
much
a
valued
member
of
Finance
of
America
in
support
of
that
overall
strategy,”
Moschner
said.

Change
in
engagement
strategy

FOA
President

Kristen
Sieffert
spoke
about
some
of
the
intentions
of
the
new
campaign
in
a
statement.

“At
a
time
when conversations
about

aging,
financial
flexibility,
and
quality
of
life
are
evolving,
Finance
of
America
is
educating
the
market
on
how
home
equity
can
be
used
as
a
timely,
valuable
tool
for
a
wide
range
of 
options,”
she
said.

“A
‘Better
Way’
signifies
the
power
of
having
a
broader
plan,
one
that
is
built
for
the
modern

retirement
landscape
that
American
homeowners
are
facing
today.”

The
mission
in
front
of
the
campaign
is
about
additional
options,
Moschner
explained.

“As
we
looked
at
the
market,
we
[realized]
we
have
two
jobs
to
be
done
at
a
macro
level:
We
have
to
convince
people
to
begin
with
[the
premise]
that
home
equity
is
a
retirement
asset
that
can
be
used
for
the
betterment
of
your
financial
security.

“But
there’s
also
a
large
subset
of
people
who
are
already
open
to
the
idea
of
tapping
home
equity
to
generate
cash
flow.
For
those
people,
it’s
about
just
putting
reverse
mortgages
and
proprietary
products
in
their
consideration
set.”

With
that
assessment,
the
company
settled
on
starting
with
those
already
open
to
the
idea
of
tapping
equity
but
who
tend
to
disqualify
reverse
mortgages
out
of
hand.

“That’s
really
the
insight
that
really
drove
this
campaign,”
Moschner
said.
“As
we
went
to
create
this
creative,
we
effectively
said,
‘Let’s
go
talk
about
home
equity
directly
and
put
these
products
into
the
consideration
set.’
That
way,
we
can
then
help
them
understand
in
which
cases
they’re
better,
in
which
cases
they’re
different,
and
why
it
might
be
for
them.”

How
to
modernize

This
also
meant
that
modernizing
the
approach
to
connect
with
potentially
receptive
clients
needed
to
happen.
In
this
case,
it
means
“taking
a
broader
view
of
these
products
and
what
category
they
fit
in,”
Moschner
said.
“And
by
doing
that,
you
open
the
aperture
and
invite
millions
more
people
to
take
a
look
at
our
category
who
may
never
have
before.”

Equating
the
company’s
products
to
other
offerings
—
like
home
equity
loans
—
doesn’t
go
far
enough,
he
added.
But
zeroing
in
on
a
lack
of
a
monthly
payment
requirement
was
seen
as
a
key
differentiator,
a
theory
that
seemed
to
connect
based
on
the
testing
the
company
undertook.

It
also
means
engaging
more
deliberately
with
potential
clients
earlier
in
the
process,
something
that
has
not
been
as
much
of
a
focus
in
the
past,
Moschner
said.

“We
really
haven’t
been
talking
to
that
cohort
of
people
who
are
just
aging
in,
that
55-to-62
group,
or
even
people
who
are
marginally
in
this
category
who
are
about
to
turn
55,”
he
said.

“We
want
to
be
more
deliberate
about
talking
to
them
earlier
and
sooner,
because
we
know
if
we
talk
to
people
in
their
50s
about
the
benefits
and
power
of
home
equity,
the
chance
of
them
turning
to
our
category
later
in
life
—
even
if
they
don’t
turn
to
us
immediately
on
their
birthday
—
is
significantly
higher.”