"Despite having outperformed many competitors in the retirement savings, living annuities and unit trusts world for a number of years, 10X plays in a field of industry giants who have been around for a long time," says Livio Tronchin, executive creative director of Derrick.
"Achieving competitive levels of brand awareness in this field is a big challenge for a relative newcomer," adds Tronchin.
10X says that it is disrupting a large, established industry with a low-cost (and high performing) option. Of the South Africans who do contribute to a retirement saving fund, many will lose up to 40% of their retirement savings to high fees.
10X Investments highlights that it charges 1% in fees, where the industry average is closer to 3%. "When one adds in the powerful effect of compound interest and the fact that people will be saving for decades before retiring, it is clear that the impact is enormous," says the provider.
"It's one of those simple things in life nobody wants to discover when it's too late," says Tronchin.
"The investment industry is complex and tends to leave consumers feeling frustrated and quite baffled. 10X values simplicity and clarity and the Derrick team helped us deliver a clear, single-minded message in a humorous and engaging way," concludes Alice Cumming, marketing manager at 10X Investments.
For more information, visit www.derrick.agency