Membership of the Institute will give Sole Practitioners independent advice, support and resources to help in the day-to-day running of their law firm. Membership will also open up a whole community of support networks and events for law firm owners and managers.
As a Sole Practitioner, are you also your firm’s COFA?
COFAs play a vital role in the move to regulation focused on outcomes and they are key to fulfilling the SRA’s aim for law firms to take responsibility for managing any risks to their delivery of legal services.
COFAs champion compliance and the management of risk within law firms and are responsible for firms’ systems and controls. They are responsible for establishing processes to enable the firms, their managers and employees – and anyone who has any interest in the firms – to comply with requirements the Handbook places on them.
COFAs are not solely responsible for complying with the requirements of the Handbook: everyone in the firm has a role to play in compliance, which is ultimately the responsibility of the firm and its managers. However, COFAs do have a key role in ensuring that suitable systems and controls are in place, in recording breaches and in reporting material breaches to the SRA.
How can the ILFM help Sole Practitioners?
- ILFM Events
- ILFM Training
- Guides & Practice notes, including residual balances
- Legal Abacus
- LinkedIn COFA Group
ILFM Membership
As an ILFM member you can enjoy:
- Knowledge – Access to all ILFM Training, content & resources to help you do you job – exclusive member rates & free events.
- Support – Access to ILFM member support, ask our experts a question. Member only website login.
- Confidence – We help to build your confidence to carry out your role in an efficient and compliant way. We promote our members in legal finance & management roles and represent you to key regulators and the sector as a whole.
- Legal Abacus – The ILFM journal for professionals in legal finance, compliance & legal practice management. (example HERE)
- ILFM Member Rewards – exceptional value and fantastic discounts for you, including high-street brands
- ILFM Answers – frequently asked questions in legal accounting and practice management, resouces and tips.
- ILFM Events – Conferences, Lunch & Learn Webinars, Law Firm Management Forums and more.
- ILFM CPD Training – Heavily discounted rates for members on a range of online training sessions.
Useful Links…
The Sole Practitioners Group (SPG) is a not-for-profit representative body and independent stakeholder group, providing professional and pastoral support, training and regulatory representation on behalf of all Sole Practitioner solicitors in England and Wales.Sole practitioner firms represent over one-third of all solicitor firms in the UK.Our mission statement is to inspire, to promote and to lead.
SRA – Sole practitioners and small firms regulatory starter pack
For just £150 (+VAT) per year, members enjoy a range of valuable benefits.
Learn more about the many benefits of ILFM Membership.