KNOWLEDGE CONFIDENCE UNDERSTANDING
The ILFM is a professional educational establishment, offering registered financial and qualifications in the legal sector through England and Wales.
Legal Finance Professional Qualifications
The ILFM provides a clearly defined career path for those wishing to gain studies and competency in legal finance and practice management. Our programme, listed below, has become the recognised industry go-to, and as a registered foundation all our students are safe in the knowledge that when they graduate, their skills will be effective to their department.
What are the best accounting qualifications for working in law? Technology, compliance and even banking has changed drastically over the years, so you are in safe hands learning with us as our Executive Board all work in their legal practices and are experts in this field. The ILFM is the leading provider of proficient qualifications for all students and we are proud of our expertise, knowledge and support to help all our members gain their next steps in their commercial career in law.
Each certificate can be completed as 'stand-alone' or be used together to gain the ILFM Professional Qualifications.
Tuition for the ILFM's Diploma and Associate examinations ("dip qualification") is available through correspondence courses, with students supported by a dedicated tutor providing guidance, advice and feedback on coursework papers helping with coursework and pushing you to achieve your pass in your chosen subject.
For those that don’t have the time to attend college or training courses, correspondence courses offer a flexible option to fit around your working and personal life. You can study when you want and at your own leisure, law is a career we want you to feel competent in.
Please check if you are entitled to any exemptions by holding other relevant qualifications.
An All Inclusive Coursework and Examination fee of £495 is applicable for each certificate.
Please note you are required to be a member of the ILFM in order to study our qualifications.
Legal Cashier Courses - Diploma Level - ILFM(Dip)
This Dip Qualification is perfect for someone who is relatively new to legal finance and would like to understand more about being a legal cashier, and to achieve a better understand and knowledge in their career. Your tutor will help steer you through the assignments for your path to successful career in the legal area, our training is next to none.
The diploma qualification requires two certificates, D1: Bookkeeping for Legal Finance Professionals and D2: Legal Finance Compliance & Accounts Rules, which together provide a sound comprehensive and practical knowledge of the maintenance of a solicitor’s internal records and to meet compliance with regulatory accounts rules.
"Completing the ILFM Diploma in Bookkeeping for Legal Finance Professionals has given me a thorough understanding of the processes that are done on a daily basis through to trial balance level. This is a great course for any Legal Cashier to undertake, would highly recommend".
Student Feedback May 2019
What you need to complete for the Legal Cashier Diploma
To achieve the Diploma qualification both topics need to be completed and the examinations passed, a student would be expected to take the D1: Bookkeeping for Legal Finance Professionals first, followed by D2: Legal Finance Compliance & Accounts Rules (the fee applies to each separately).
Students may apply for an exemption from the Bookkeeping for Legal Finance Professionals Certificate if they already have a relevant qualification.
- Certificate D1 - Bookkeeping for Legal Finance Professionals
- Certificate D2 - Legal Finance Compliance & Accounts Rules
Associate Level - AILFM (legal finance qualifications)
The Associate qualification has 4 certificates, Accounting for Legal Finance Professionals, Financial Management, Tax for Legal Finance Professionals and Legal Practice Management. Only students who have successfully completed the Diploma qualification (ILFM Dip) can achieve the full Associate qualification (AILFM).
What you need to complete for the AILFM
To achieve the Associate qualification you need to complete three certificates including Certificates A1 and A2 - you can then choose to complete either A3 or A4. A fee applies to each certificate taken.
- Certificate A1 - Accounting for Legal Finance Professionals
- Certificate A2 - Financial Management
- Certificate A3 - Legal Practice Management
- Certificate A4 - Tax for Legal Finance Professionals
For the ILFM Associate qualification you need to have completed 3 Certificates.
All Inclusive Coursework and Examination Fee: £495 (per Certificate)
You are given 18 months to complete the coursework and enter for the exam (each course can be completed sooner). Please check if you are entitled to any exemptions by holding other relevant qualifications.
An exam sitting is held twice a year and is a formal 3 hour, hand-written paper - see Exams page for further information.
- Full access to online course material (for 18 months)
- Dedicated ILFM tutor, inc one-to-one support
- Access to students forum
- Employer updates (if required)
- Individual Study Plan
- Full access to student resources online
- Dedicated ILFM tutor (one-to-one support)
- Sample examination Paper/Questions
- Exam preparation session (format may vary)
- Exam preparation material
- Employer updates (if required)
- One Examination Entry Fee included (students wishing to take the exam locally will be required to pay any additional costs incurred). Formal exam sittings are held twice a year, the exams are 3 hour, hand written papers.
- You are expected to sit the exam either within the 18 months given or shortly thereafter
CILEx Regulation accounts courses are designed to equip you with the skills and knowledge for accounts and financial management. It has been mapped against and meets the CILEx Regulation accounts requirements, which you must meet to be a manager in an entity regulated by CILEx Regulation.
Level 1 – this course delivers the competencies CILEx Regulation requires of all managers in an entity.
Level 2a - this builds on the knowledge and skills gained from Level 1 to be able to support commercial decisions and good financial hygiene.
What qualifications do you need to need for law?
CILEx is an exceptional path to commence working in the field of law, allowing a different pathway to becoming a lawyer if you do not have a degree in law (or a degree at all!). The CILEx route is the equivalent of a law degree, so you graduate as a lawyer (or paralegal, or Legal Executive) the CILEx way, hand in hand with a dip
Fellowship - FILFM
The Fellowship is the Institutes 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.
The ILFM are dedicated to driving innovation, education and the promotion of excellence throughout the legal sector for financial and practice management staff, with structured courses and qualifications to provide a career path in legal finance and practice management.
The Fellowship is the Institutes highest qualification and only available to full Associate level 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 Inclusive fee for the F1 - Fellowship qualification is £295
Students submit a 10,000 to 15,000 word thesis on a topic chosen from either the ILFM approved list or by submitting their own topic (relevant to legal finance or practice management) for approval from the ILFM. You are required to be an ILFM Associate member.
In addition to the written thesis, students will be required to complete a presentation to a panel. The presentation should last between 15 and 30 minutes and showcase the student’s knowledge of their chosen topic. Following the presentation there will be questions from the panel.
You will need to complete and successfully pass the thesis element of the qualification. The student will then be asked to attend their presentation, normally at the ILFM Offices. Upon registering for the Fellowship the student will be informed of the presentation dates which are available to them.
Students who successfully gain a pass in both the thesis and the presentation will be awarded with the fellowship qualification and members can use the designatory letters FILFM after their name.
England and Wales - Legal Finance Qualifications from the Institute of Legal Finance & Management
The ILFM is England and Wales' most respected training and membership organisations in the field of legal finance. Our experience and longevity of teaching, training and qualifying thousands of professionals, from legal cashiers to COFAs holds the ILFM firmly as the leading course provider and we are proud of our supportive membership. All our tutoring gives routes to a number of services and our education system is there to complement any academic path.
Institute of Legal Finance & Management UPDATE: With the introduction of the presentation, the deadline has been extended from 6 months to 12 months.
Further guidelines and the approved list of topics are available from the ILFM office. Please find more details of our membership, support, blogs and contact on our website.