The institute for professionals working in legal accounts, compliance and law firm management.
Click here for our ILFM Information Pack
The Institute of Legal Finance & Management is the leading education and membership organisation in the legal sector, supporting legal finance, compliance and practice management professionals across England, Wales & Northern Ireland.
It provides qualifications, training, knowledge, support and information for anyone working in legal accounts, compliance and law firm management. Our members include legal cashiers, accounts managers, compliance officers for finance and administration (COFAs), practice managers, MLRO & MLCO's and sole practitioners.
We offer recognised professional qualifications, regular training days on issues relevant to the industry, regulatory information and many support features and services, including an industry professional journal. The ILFM has become the professional membership of choice for thousands of leading professionals in the legal & accounts sector, including many considering a new career in the legal sector.
The ILFM is dedicated to driving innovation, advancing education and promoting excellence throughout the legal sector. Our training and education programs aim to raise awareness, advocate good business practice and maintain high standards, to ensure that clients’ money and assets are protected and treated ethically, as well as protecting the law firms and its employees at the same time.
We enjoy a close and robust working relationship with the Solicitors Regulation Authority (SRA), the main legal sector’s regulator, but we remain completely independent in our activities and in our advice to members.
“Under Tim’s stewardship of the Institute, we have forged an excellent and mutually beneficial relationship. We have liaised closely with Tim and his colleagues in implementing our new Standards and Regulations and we are very grateful for the Institute’s technical expertise and understanding of the Accounts Rules. In particular, the Institute gave us a real insight into how the new Rules will impact firms and their finance and compliance functions. We recently spoke at the Institute conference which was an excellent event... look forward to continuing our work in 2020 and beyond.”
Sean Hankin, Head of Forensic Investigation and Intelligence at the SRA
Who is behind the ILFM?
The ILFM is a membership organisation: a not-for profit company limited by guarantee. Our HQ and main administrative team are based in London and is headed by a Chief Executive together with the ILFM's Senior Leadership Team, supported by a volunteer council, whose members are elected at an annual general meeting.
If you would like to find out more about the council or would like to stand for election, please contact the office.
History of the ILFM
The ILFM was founded in 1978 and, until 2010, was known as the Institute of Legal Cashiers and Administrators (ILCA).
Who are our ILFM members?
The ILFM's members represent a large percentage of professionals in the legal industry: some belong to law practices, both large and small, while others are self-employed and work from home. With thousands of like minded peers, the ILFM is the perfect community for those in this profession.
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Mission Statement
We are the leading education authority and membership body for those in legal finance and accounting, outsourced legal cashiering, COFAs, compliance roles and practice management in England, Wales, and Northern Ireland.
We are dedicated to driving innovation, education and the promotion of excellence throughout the legal sector for financial, compliance and practice management professionals.
Through training and education, we look to raise awareness and advocate good business practice and high standards to ensure the protection and ethical treatment of client money and assets.
Women in Law Pledge
We are proud signatories to the Women in Law Pledge created by the Law Society, the Bar Council of England and Wales and the Chartered Institute of Legal Executives (CILEx). Our organisation is committed to the progress of gender equality, elimination of gender discrimination and pledges to make positive change for the legal profession.
Women in Finance Charter
In full support of this initiative, the ILFM signed the Women in Finance Charter, and set a target to ensure the representation of women in senior management roles within ILFM was a minimum of 50% as an ongoing target.
Tim Kidd, Chief Executive of the ILFM, is the member of the senior management team responsible for gender diversity and inclusion and strongly supports the ILFM as a Charter signatory.
Our progress update
The ILFM has met its target of 50% of representation of women in senior management roles and is reporting 61.5% for 2022 and is on track to maintain this for 2023.
HM TREASURY WOMEN IN FINANCE CHARTER: ANNUAL REVIEW 2023 MONITORING THE PROGRESS OF SIGNATORIES AND HOLDING THEM TO ACCOUNT
