Working in legal finance brings its pressures and headaches. SRA Accounts Rules, compliance, regulations, fee earner demands and client placation.
ILFM Membership is a must for legal finance and management professionals in the UK. We offer a plethora of benefits to our members. It really is one simple trick for a legal firm’s peace of mind.
Many of our members are comfortable simply working in the legal finance sector and value the year-round support the ILFM gives them. Others are studying with AAT, CILEx, CIMA or for a degree course and are grateful for the down-to-earth, practical advice the Institute offers. Did you know that you DO NOT need any existing qualifications or be looking to study any of our professional qualifications to join us.
HOW WE GIVE PEACE OF MIND
- Legal Abacus publication
- Annual conferences with leading keynote speakers
- Accounting software updates and analysis
- Online forum
- Leading industry partner updates and discounts
TRAINING DAYS (with outstanding feedback from delegates)
- *New* SRA Accounts Rules 2019
- The Fundamentals of Legal Cashiering
- VAT for Legal Accounting
- Financial Management for Law Firms
- Credit Management for Law Firms
- *New* Legal Practice Management
- COFA Workshop
PROFESSIONAL QUALIFICATIONS (highly recognised across the industry)
- Diploma Level - ILFM(Dip). (Legal Cashier Qualification)
- Certificate D1 - Bookkeeping for Legal Finance Professionals
- Certificate D2 - Legal Finance Compliance & Accounts Rules (New for 2019 - inc SRA 2019 Accounts Rules)
- Associate Level – AILFM
- Certificate A1 - Accounting for Legal Finance Professionals
- Certificate A2 - Financial Management
- Certificate A3 - Legal Practice Management
- Certificate A4 - Tax for Legal Finance Professionals (New for 2019)
- Fellowship – FILFM
- The Fellowship is the ILFM’s highest qualification and only eligible to full associate members. The qualification is designed to test the candidate’s knowledge and ability to research and analyse a chosen subject within the legal profession
All qualification modules can be read HERE.
LEADING LEGAL FINANCE and MANAGEMENT PUBLICATION – LEGAL ABACUS
Legal Abacus if packed full of information and it’s totally FREE for members. Its key features are:
- Industry news
- Regular columnists writing on key areas such as COFA, SRA Accounts Rules, IT, training and education, tax and practice management matters.
- Special features
- Case studies and interviews
- Financial Q&A – every issue Legal Abacus pose questions for readers to consider and the answers appear in the following edition.
- Members section
- Study and exam information
- Book reviews
- Competitions and fun features
THE ILFM SUGGESTS
Every firm of solicitors in England and Wales should ideally have one of their account’s team as an ILFM Member. The outlay is an asset to any legal firm (£105 + VAT per year) owing to the professionalism being a member brings - the knowledge and support you will receive is invaluable. Obviously, COFAs have their own individual challenges, which is why we have specific training for the professionals in the role of the Compliance Officer for Financial and Administration. SEE WHAT’S INVOLVED IN COFA TRAINING HERE.
"Really enjoyed the COFA training course I recently attended, it was captivating and enjoyable. Sarah was a great trainer and I would highly recommend this course. I really enjoyed the case studies throughout the day to apply what I was being taught".
ISOLATION & BACKUP
Many of our members work in isolation within their legal firms. It is NEVER a good idea to go ahead with a transaction if you are not sure. Our forum is vital to legal financers, be it legal cashiers, bookkeepers, accountants, practice managers and/or COFAs, because it supports and answers those tricky decisions.
Look at our Member’s Support page here to give you an overview of how we offer peace of mind.
Want to know more and connect with fellow legal finance professionals? Why not join now and benefit from all that the ILFM has to offer?
Or have a chat direct with me, Tim Kidd, CEO