As a contributor to GuruWatch.org, I noticed that celebrity guru, Suze Orman, is at it again. At what you might ask? Writing a new book, for one. And marketing herself, for another. Notice that she clearly gave thought to the colors to be used on her latest book cover. In short, she definitely knows how to make money .... for herself at least!
Suze Orman has partnered with TD Ameritrade (NASDAQ:AMTD) to offer brokerage account bonuses to women who read and follow the advice from her latest self-help book "Women & Money: Owning the Power to Control Your Destiny." In the book, Orman outlines a simple five-step, the "Save Yourself Plan," intended to help women find long-term financial security. TD Ameritrade is helping to promote Orman's book by offering a $100 bonus to clients who follow the Save Yourself Plan, open a new brokerage account during the month of March, and make monthly direct deposits of $50 or more for one year.
Forgive my eternal cynicism, but the "Save Yourself Plan"? I'm undecided whether that name is meant to motivate women by instilling fear or by uplifting their spirit. Orman explains it this way, "What's at stake is far bigger than money itself; it's about every woman's sense of who she is and what she deserves, and why it all begins with the decision to save yourself."
Would TD Ameritrade really care if women followed Orman's advice? The key is to build up the necessary illusion that they're after your best interest, and not your fees/commissions. The brand marketing strategy to reach out to women investors is a smart one.
As for Suze, increasing book sales would not be a bad thing at all for her bank account. I wonder if she uses TD for that? Hmm ...
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Reader Comments (Page 1 of 1)
3-07-2007 @ 8:39PM
Kim said...
The TD Ameritrade is actually a good deal for both women and men to start saving with. (16% return not including the 4+% interest rate!) I agree that the title "Save Yourself" plan is a bit condescending, perhaps she should have called it the "Save for Yourself" plan?
She claims she is not making money off this offer, but we can never know this for sure. But it sure is a good deal for TD Ameritrade to get women to start investing/trading with them while we have our MMA's already open with them.
3-18-2007 @ 6:27PM
Tai Crawford said...
I think that this is a wonderful idea, I just signed up and am really excited, the 100 dollar bonus is great. Suze Orman doesnt have to do this she could go the way of trump and be a selfish ass but she IS trying to make things better for women, I do think she gets a little to angry at men in the book but besides that its a good read and now I am an investor lol :) now just have to figure out how to invest??
3-30-2007 @ 8:56AM
GK said...
I heard about it on the Tim Russert show and set up an account and plugged it to all of my friends. My company's HR person had a fit so I couldn't distribute the info. to everyone but it was a good deal. How else does a person get 20% interest for a year on $600 risk-free? Sure I know it's an attempt to get me to trade there or at least make it a main account but it's better than getting a toaster or hearing another stupid 'free checking' campaign. Who doesn't offer free checking today?