Lloyds Bank aims to break money 'taboo'

Bank encourages people to talk about their concerns amid financial anxiety and stress.

Lloyds Bank’s new campaign aims to address the family "taboo" of talking about money amid a trend of financial anxiety taking hold in the UK.

The bank’s new advertising, created by Adam & Eve/DDB, comes in response to YouGov research that showed money is an even more sensitive subject for families than politics, religion or sex. 

One in three people, meanwhile, have reported money-related stress and anxiety within the past month, the poll found. However, almost two in three people (63%) "felt better" after speaking to someone about their financial concerns.

A 30-second ad, which launches the campaign today, features an array of families awkwardly talking around an unnamed subject with phrases such as "this is a touchy subject" and "we prefer to keep it private".

A voiceover then provides the reveal with the line: "It isn’t easy talking about money, but it is important. The M word: it’s good to talk about money."

The messaging is similar in tone to Lloyds’ previous "Get the inside out" campaign, which tried to get people talking about their mental health. The bank has positioned itself as being "by your side" with consumers since appointing Adam & Eve/DDB in 2015.

The use of "by your side" was investigated by the Advertising Standards Authority last year after a law firm representing fraud victims, including the presenter Noel Edmonds, claimed it was unjustified. The ASA ruled against the complaint.

"The M-word" campaign, which will also run on out-of-home, press, radio and online, will all feature "The M-Word. It’s good to talk about money" copy.

The TV ad was created by Adam & Eve/DDB’s Lily Scarlett and William Blackburn and directed by Finn McGough through Knucklehead. MediaCom handles media planning and buying for Lloyds Bank.

Richard Warren, director of marketing and communications at Lloyds Bank, said: "Whether you’re getting married or talking to your parents about their retirement plans, it’s good to talk about money. Being open about our finances can help avoid problems in the future.

"By focusing our efforts on the M-Word we hope that this campaign will help start the conversation in families and make people more comfortable talking about money matters."

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