The ILFM offers a clearly defined professional career path for those wishing to gain qualifications in legal finance and practice management.
Each certificate can be done as 'stand-alone' or as used together to gain the ILFM Professional Qualifications.
Tuition for the ILFM's Diploma and Associate examinations is available through correspondence courses, with students supported by a dedicated tutor providing guidance, advice and feedback on coursework papers.
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.
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.
Diploma Level - ILFM(Dip). (Legal Cashier Qualification)
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
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 (New for 2019 - inc SRA 2019 Accounts Rules)
* There are no exemptions from Legal Finance Compliance & Accounts Rules
Associate Level - AILFM
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). 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 (New for 2019)
For the ILFM Associate qualification you need to have completed 3 Certificates.
* There are no exemptions from Cert A3, Legal Practice Management or Cert A4, Tax for Legal Finance Professionals.
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.
- 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
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,
The fee for the 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.
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.