The ILFM is pleased to offer a limited number of Scholarships & Member Sponsorship opportunities each year and some funding assistance.
Iceberg Scholarships
ICEBERG (part of Paragon Bank)
PROUD SPONSORS OF ILFM SCHOLARSHIPS and funding assistance.
Qualifications - Training - Membership
Iceberg, one of the leading providers of practice finance to law firms across the UK, has welcomed the opportunity to support the professional development of legal students by funding the latest ILFM scholarships.
Michael Stevenson, Managing Director of Iceberg, said:
“At Iceberg, we are passionate about bringing out the best in our workforce through further learning so we are delighted to do the same in the legal sector by sponsoring the latest ILFM scholarships.
We work with many law firms, so partnering with the ILFM on this worthwhile project was a perfect fit as we offer its members the opportunity to learn and grow in their role or become further qualified.
Iceberg knows only too well that encouraging professional development and knowledge is one of the most important benefits a business can give its people.”
Iceberg provides practice finance to UK law firms and welcomes the opportunity of working with law firms who offer exceptional service and who give sound professional advice.
This funding is provided to firms of all sizes, is easy to apply for and applications are usually turned around in 48 hours. The loans are unsecured, supplementary to bank facilities and come with flexible repayment terms.
Working closely with Resolution - the membership organisation that represents matrimonial lawyers - Iceberg has also developed an innovative and simple to use litigation finance facility for matrimonial clients. It also provides loans for IHT and other fees in probate situations.
To find out more about ICEBERG's services please click HERE
The ILFM has a generous budget each year that we can use at our discretion to help its Members with ILFM Qualification studies and courses.
If you would like to apply for an opportunity please fill in the application form below and email it directly to Tim.Kidd@ilfm.org.uk with a short cover email.
Click here for an Application Form
CASE STUDY ONE
ILFM Diploma - Iceberg Scholarship Case Study
Jenny Gillman
Having started her career in law and finance when she was 22 years old, Jenny Gillman spent many years in legal finance software training, but was drawn back to legal cashiering!
On her return to legal practice accounting and finance in 2010, Jenny realised that further in-depth training in this area was essential, at which point she became a member of the Institute of Legal Finance & Management (ILFM).
Why studying the ILFM Diploma is important
From starting her early career in a law firm’s accounts department, with no training, she had learned on the job, but quickly realised that bookkeeping in a legal practice has many complexities and regulations that require fundamental and niche studies.
Jenny wanted to study with the ILFM to help her confidence at work, gain the knowledge to aid that confidence and to protect the firm and its client money practices.
She read an article about the scholarship in the ILFM’s Legal Abacus magazine, and because finances were tight (children at university!) Jenny applied for the scholarship independently and did not ask her employer to pay for the course.
Inspired by her daughter’s studies at university, Jenny was over the moon when she was accepted for the scholarship, funded by specialist lender to legal firms, Iceberg, and really excited about doing the course. Having left school at 16 it could have been overwhelming, but Jenny said she found she loved studying again, and as the course covered everything, she did in her current job it was all relevant, therefore immediately felt able to apply the modules to her learning.
Invaluable Qualifications in Legal Finance
The ILFM Diploma course was invaluable for Jenny, as at the time of studying the course she was fine tuning the processes and procedures within her law firm’s accounts department, whilst making sure all policies were written and put in place. Without a scholarship Jenny might not have had the confidence to ask her employers to pay for her studies.
About Jenny Gillman
When Jenny eventually stepped down as head of accounts at her law firm, she knew she could do so knowing that everything was running efficiently, together with seamless compliance with SRA Accounts Rules.
The scholarship and course gave Jenny the knowledge and confidence to review procedures and make the changes needed.
“I am so thankful to Iceberg & the ILFM for accepting me for the scholarship and allowing me to achieve this much valued qualification. It was a huge personal achievement for me and has given me such a wealth of knowledge. My tutor at the ILFM was amazing, and I will always be so proud of what I have achieved.”
Jenny has moved from her firm to another firm to the coast to and is a part time Legal Cashier and Credit Controller at her current firm.
Commenting on their support of the scholarships Iceberg’s Managing Director, Michael Stevenson, said:
“I am delighted that Iceberg’s sponsorship of ILFM scholarships is helping to transform the lives of talented and inspiring candidates. Practices thrive not only because of exceptional legal talent, but also thanks to the skills and dedication of their administrative teams. By supporting ILFM scholarships, Iceberg is proud to support a vital element of our sector – and I look forward to following the success of candidates in the years ahead.”
CASE STUDY TWO
ILFM Diploma - Iceberg Scholarship Case Study
Sarfraz Ahmed
Sarfraz stumbled into legal industry when a friend (solicitor) set up a law firm and needed help with Practice Management side of the business. With 10 years in the Army, and 6 years in luxury retail customer service (Harrods), operations, people management and client care came as second nature so the opportunity was not very daunting.
With a very objective view Sarfraz took the firm through quality marks and expansion plan with the help of transferable skills from previous jobs but always felt the need to acquire industry specialist qualifications in legal accounting. Long behold a visiting legal cashier directed Sarfraz to the ILFM back in 2014 and a special journey started.
Why studying the ILFM Diploma is important
Despite having a couple of honours and another couple of Post Graduate degrees in the bag, Sarfraz was convinced that legal industry specific qualifications were invaluable and best way to progress the career and there was nowhere better to go than ILFM.
Having previous and existing experience in other elements of practice management, legal finance was the gap to bridge. To understand the specifics of legal cashiering work, supervision of accounts staff, fulfilling the compliance requirements of the regulator and quality standards; all pointed towards the need to become a specialist in legal finance, with a deep understanding of the Solicitors Accounts Rules.
Sarfraz completed the Diploma level soon after which not only enabled him to help he firm but also enhanced his own profile. The first qualification only increased the appetite for further learning so he went on to complete Associate Accounting and Financial Management courses in subsequent years.
As the years rolled by, Sarfraz re-located from London to Yorkshire and had a young family when he was willing to go again and complete the last course of Associate level qualifications. During the conversations with ILFM colleagues Sarfraz was introduced to Iceberg Scholarship program which came as a welcome news given the financial responsibilities in personal life. His application for scholarship with Iceberg was successful providing an opportunity for a long standing student of ILFM to continue his progress.
Sarfraz has now successfully completed the Associate Legal Practice Management course and has proudly added ‘AILFM’ next to his name on professional profile.
Sarfraz believes it is ILFM’s qualifications that has helped him start his journey at a high street law firm and progress his career to national and global law firms within legal finance area. Iceberg has put the ‘icing’ on the cake by funding him to complete the last element and Sarfraz heartedly thanks both.