Advice Investments Wealth management

It’s okay to not be okay: UK adults need to have more conversations on money and mental health

8 November 2018

  • Just 22% of UK adults comfortable talking about debt.
  • Only 45% are willing to talk about their mental health.
  • Fewer than two-fifths are comfortable talking about other financial issues such as power of attorney, inheritance, mortgages and debt.

Ahead of Talk Money Week Quilter calls for more conversations around taboo topics such as money and mental health.

A poll conducted by YouGov for Quilter asked UK adults if they felt comfortable talking to their friends and family about a number of topics. The research revealed the nation is reluctant to talk about their financial and mental wellbeing.*

Issues around debt and mental health aren’t mutually exclusive, as research  from the Money and Mental Health Policy Institute shows the more debt people have, the more likely they are to have a mental health problems.

Current estimates show only 17% of over-indebted people – of whom there are 8 million in the UK – seek advice. Part of the problem is that people in debt may feel embarrassed and unwilling to seek help. However, without advice they’re less able to dig themselves out of the problem which then escalates and preys on their mind.

Quilter is campaigning against stigma around the traditionally taboo nature of money and mental health by supporting Talk Money Week and Time to Change.

Paul Feeney, CEO of Quilter says: “People often have a perception that everyone else’s life is more perfect than their own, which is not the case. I have had my own mental health issues and I have learned it’s okay to talk about them.

“It’s important to me that we build environments where it’s okay to not be okay, because the more we talk about problems, the easier it will be to share experiences, pool ideas and help each other.

“These taboos extend to financial issues and are often inter-related; meaning generations have grown up without having frank conversations about money. Talk Money Week encourages people to talk about their finances in the hope it will demystify money and dilute some of the stigma about those discussions.”

To hear more from Paul on mental health see his video interview with Citywire

 *Poll conducted by YouGov of 2,000 UK adults


% of UK adults comfortable discussing

Physical Health








Mental Health






Power of Attorney






Other Debt


None of these


Don't know


Prefer not to say


Chose not to answer



For more information contact

Kathleen Gallagher
023 8072 6293
07990 004932


Notes to Editors:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £95.3 billion in customer investments (as at 31 March 2020).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions; and discretionary fund management.

The business is comprised of two segments: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

Wealth Platforms includes Old Mutual Wealth UK platform and Quilter International, including AAM Advisory in Singapore.

The Old Mutual Wealth Heritage life assurance business was acquired by ReAssure Group Plc on 2 January 2020.

Since its IPO in June 2018, Quilter plc’s businesses have progressively rebranded to Quilter, as follows: 

  • Quilter Financial Planning (previously Intrinsic)
  • Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
  • Quilter Financial Advisers (previously Charles Derby Group)
  • Quilter Financial Adviser School
  • Quilter Cheviot
  • Quilter Investors
  • Old Mutual Wealth (becoming Quilter Investment Platform in 2020)
  • Quilter International (previously Old Mutual International)

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.