Toasters must lack the appeal of travel. Fidelity Investments
is trying to lure new brokerage accounts by dangling frequent flyer miles. The Boston Behemoth has teamed with American Announce to offer AAdvantage airline miles. The program could give new account holders as much as 25,000 miles towards travel and other rewards.
The agreement follows a similar co-marketing deal Fidelity struck with Amazon.com.
In this case, Fidelity will benefit from advertizing of the program on American Airline flights. The program will also feature a direct mail and online marketing campaign.
"We see a great synergy between American's customers, who lead active lives, and our own customer base," explained Claire Huang, executive vice president of Marketing at Fidelity Investments. "Through this alliance, AAdvantage members now have the opportunity to earn additional AAdvantage miles, while also receiving Fidelity's comprehensive financial guidance and retirement planning, product and service offerings."
Kurt Stache, president of American's AAdvantage Program said that the alliance with Fidelity will further enhance "what is already the industry's largest travel rewards program."
Brokerage account holders will receive 5,000 miles for a deposit ranging between of $2,500 and $9,999. For deposits of $10,000 to $49,999 account openers will get 15,000 miles. The largest reward of 25,000 miles will be given for deposits of $50,000 or more.
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