Dementia can impair the ability of the individual to manage their financial affairs. This means that they will require support from family members in ensuring good financial outcomes and protection.

Often those living with dementia enter into a power of attorney agreement that empowers a named person to act on their behalf and assist them with financial matters. This arrangement provides vital support but can be an additional burden of care for family members.

A new study, being conducted jointly by the business schools of the University of Edinburgh and Heriot Watt University, is researching how the financial sector helps or hinders family care givers who have been granted power of attorney for finance and property (lasting power of attorney).

By speaking to family carers in Central Scotland, researchers will identify good and bad experiences and give feedback to financial services providers on where they are dementia-friendly and where they are not.

What does it involve?

This study is open to family members who have been granted power of attorney (finance and property) by an individual diagnosed as living with dementia. The power of attorney should be in active use.

Participants will be invited to take part in an individual interview which will take place via the telephone, Skype or Facetime. The interview will last approximately 40 minutes (it can be done in a couple of sessions if this is more convenient). The researcher will ask about the good and bad experiences of using power of attorney for finance and property, ask for suggestions for improvement and discuss whether the COVID-19 pandemic has had any impact.

Play a part

Chief Investigator Dr Kathryn Waite, Associate Professor of Digital Marketing at Edinburgh Business School, Heriot Watt University says:

“Through taking part in the dementia friendly financial services study you will be playing a part in guiding future policy and financial services processes.

“The findings will inform financial and other service providers of caregivers’ experiences and feed into ongoing customer relationships and service development.

“I would encourage anyone who meets the criteria to sign up and contribute to this important conversation.”

How to take part

This study is open until 31 July 2021 and is recruiting in East Lothian.

Participants will receive a £15 voucher for participation.

To find out if you are eligible to join this study, as well as other dementia studies, sign in to your Join Dementia Research account or if you are not already registered, sign up today.