Grounded in Experience: Designing the Financial Empowerment Scale Through Community Dialogues

BackgroundFinancial fraud and exploitation (FFE) are associated with billions of dollars lost annually and have significant adverse effects on older adults.ObjectiveGiven the challenges and complexities of FFE identification and response, this study aimed to identify domains associated with elder FFE risk from a multidisciplinary perspective.MethodsThis qualitative study interviewed experts within the field through six qualitative focus groups conducted in 2024. A thematic analysis approach was used to identify themes.ResultsFive domains were identified encompassing intersecting factors associated with elder FFE: cognitive health, individual behaviors, social health, financial well-being, and health and environment considerations. These findings demonstrate nuanced FFE risk considerations and the need to approach assessment models from a multidisciplinary, accessible perspective to enhance financial empowerment in older adulthood. Findings will be used to inform development of a financial tool to assess potential risk for FFE among older adults.