David Sheehan
Partner, Financial Services Director
Practice
“Marketing has changed. We can no longer afford to rely on the traditional techniques.”
As the director of the financial services practice, David helps asset managers, banks, and insurance companies understand and think strategically about their customers.
Clients include: AllianceBernstein, Fidelity Investments, Lehman Brothers, MetLife, TIAA-CREF.
EXPERIENCE
Dreyfus Corporation, Executive Vice President/Director of Marketing, Retail and Institutional Business
Fidelity Investments, Senior Vice President, Marketing and Sales
Shawmut Bank, Vice President, Product Development
Bay Bank Harvard Trust Company, Marketing Officer, Advertising and Public Relations
EDUCATION
Boston University, Graduate School of Management, MBA in Marketing
Tufts University, BA
Decision
“In today’s world, consumers aren’t making choices about products, they’re making choices about their lives.”
The financial decisions faced by people and institutions are more complex today than ever before. For financial services firms, that means new challenges: thinking differently about what information they provide and how they deliver it, addressing the needs of the growing advisor industry, and determining what will help them stand out. As marketers, we have an opportunity to help these firms think holistically, but that requires a shift in how we approach strategy and communications.
EXPERIENCE
Dreyfus Corporation, Executive Vice President/Director of Marketing, Retail and Institutional Business
Fidelity Investments, Senior Vice President, Marketing and Sales
Shawmut Bank, Vice President, Product Development
Bay Bank Harvard Trust Company, Marketing Officer, Advertising and Public Relations
EDUCATION
Boston University, Graduate School of Management, MBA in Marketing
Tufts University, BA
Approach
“Every financial company seems to be offering the same thing.”
How does a firm distinguish itself to advisors or institutions? It’s not about creating new, better-looking brochures. And in the long-term, it’s not even about a great ad campaign. It’s about figuring out what is truly unique to the organization, and applying it practically.
Getting to that key point of distinction is all about problem solving—knowing which questions to ask, and how to get meaningful answers. And once the answer is clear, the real work begins: breaking through the inertia of a large organization to bring the new idea to life. That’s where the decades of experience we have on the client side of the business makes a huge difference. Unlike a lot of agencies, most of our work does see the light of day.
EXPERIENCE
Dreyfus Corporation, Executive Vice President/Director of Marketing, Retail and Institutional Business
Fidelity Investments, Senior Vice President, Marketing and Sales
Shawmut Bank, Vice President, Product Development
Bay Bank Harvard Trust Company, Marketing Officer, Advertising and Public Relations
EDUCATION
Boston University, Graduate School of Management, MBA in Marketing
Tufts University, BA
Industry
“More and more people are shifting from saving for retirement to living in it. That’s scary to financial services companies.”
Financial services firms are facing a big challenge: retaining the assets they helped Baby Boomers grow. For many years, the business model focused on acquiring new clients, pushing products, and increasing assets. Today, it’s about offering the right services for people transitioning to retirement. That means firms need to provide answers and key information at the critical moments when investors ask the big questions: What do I do with my 401(k)? How does it fit into my savings plan? Will my pension be there when I need it?
At Sullivan, we know the industry, and the issues, as well as any firm, so we can challenge clients to take a fresh approach to these marketing problems.
EXPERIENCE
Dreyfus Corporation, Executive Vice President/Director of Marketing, Retail and Institutional Business
Fidelity Investments, Senior Vice President, Marketing and Sales
Shawmut Bank, Vice President, Product Development
Bay Bank Harvard Trust Company, Marketing Officer, Advertising and Public Relations
EDUCATION
Boston University, Graduate School of Management, MBA in Marketing
Tufts University, BA
Predictions
“The next shift will be addressing the needs of Gen X.”
Younger people have an entirely different outlook on their finances. There is no legacy of someone else—like an employer or the government—providing for their future. They’re changing jobs more frequently and thinking more skeptically about the future, but at the same time face more products than ever, and more responsibility.
I think it’s going to be our job to help clients think about, and approach, these new customers in a completely different way.
EXPERIENCE
Dreyfus Corporation, Executive Vice President/Director of Marketing, Retail and Institutional Business
Fidelity Investments, Senior Vice President, Marketing and Sales
Shawmut Bank, Vice President, Product Development
Bay Bank Harvard Trust Company, Marketing Officer, Advertising and Public Relations
EDUCATION
Boston University, Graduate School of Management, MBA in Marketing
Tufts University, BA
