FAQs

Membership

How do I become an IFA member?

The enrolment process is simple: all you will need to do is complete the enquiry form and provide copies of your professional financial qualifications together with a payment of £150.00 to cover the administration fee.  You can do this by simply filling out the following enquiry form

What are the benefits of being an IFA member?

To see our whole range of benefits, click here.

What are the levels of membership?

There are three levels of membership:

FINANCIAL ACCOUNTING EXECUTIVE
Playing an important part in supporting the organisation and its finance manager or team, the Financial Accounting Executive is often responsible for drafting final accounts and interpretation of financial information. Financial Accounting Executives may use the post nominal letters FAE. Progression to Associate level would be recommended as an individual’s career requires.

ASSOCIATE
Associates of the Institute have achieved a level of competency considered necessary to manage or lead the finance function of an organisation. They have an advanced level of skill and ability and are often responsible for all aspects of financial management and reporting, They are also likely to have responsibilities related to regulation and compliance for the business and require broad management skills.  An Associate may use the post nominal letters AFA.

FELLOW
Fellow level is the highest level of IFA membership and demonstrates that the individual has senior, leadership experience or qualities. The qualification level demonstrates competence in all aspects of financial management and in strategic management. Fellows may use the post nominal letters FFA. 

How much are the annual subscription fees?

These vary according to where you spend the majority of your time and what level of membership you are.

For a list of fees by country, click here.

My membership lapsed - how can I come back?

If your membership has lapsed within the last 24 months you will need to get in touch with the membership team at membership@ifa.org.uk to pay the required fees and admin charges.

However, if your membership lapsed over 24 months ago then you will need to complete a new enquiry form and £150 administration fee.

The best thing to do in either case is to call us and we can chat through your options: 020 7554 0730.

Where can I find the Members' Handbook?

If you are a member with the IFA, you can view your Handbook by clicking here.

Then click on the area relevant to you and then the "Essential Information" option on the left hand side. The Handbook is on that page as a download, along with several other important documents.

Please note that you will be required to sign in.

Can IFA members give insurance and pensions advice?

IFA members are not permitted to advise on insurance, pensions etc without holding an individual licence from the FSA.

Education

How do I become an IFA student?

The enrolment process is simple: all you need to do is complete the enquiry form by clicking here.

If you are training through one of our accredited training providers they will register you for the relevant qualification.

Can I get any exemptions?

If you have previous finance or accountancy qualifications you may be eligible for exemption from some of our modules / units. In order for us to assess your exemptions eligibility you will need to complete and return the student registration form including the exemptions section and return everything to the IFA with relevant certificates/transcripts.

This can now all be done online - just click here.

How long does it take to study for the exams?

There is no hard and fast rule – the study period can vary depending on your previous background, how fast you learn, and how much time you can devote to study. However, as a general guide, each module/unit is expected to take approximately 140 hours of studying.

Technical

Which banks and building societies accept IFA members?

All banks and building societies should accept IFA members for signing off accounts. As of the 16th November 2011, the IFA became the only UK non-chartered body to achieve full IFAC membership. This has given our members more recognition around the world. 

Whilst we will aim to provide an up to date list, and will conduct annual reviews of each banks criteria to make sure this stays updated, we are aware that banks and building societies criteria do change unexpectedly, and if you notice that our name is not on their approved list, please contact via email or phone and we shall investigate.

T: 020 7554 0730
E: mail@ifa.org.uk


To view the full list of approved banks and building societies, click here.

Last updated 13/08/2015. 

How do I log in to the website?

All members have been assigned a new password due to the online payment facility we have recently started offering.

This password was on the back of your subscription renewal letter sent out in October.

If you did not get this, or have simply forgotten your password, you can still access the website: just go to the homepage, find the log-in box on the right and click "Forgotten Login?"

Then enter your email address and follow the instructions you will be send via email.

If this doesn't work, you have changed your email address or you have any other queries, please send an email to mail@ifa.org.uk

Do you have a list of members?

We have a list of practising members you can look at either to find your nearest accountant or to check they are registered with us.

You can find an accountant by clicking here and typing in their postcode, town or county.

If a member is employed, they will not appear on this list but this does not mean they are not a member.

If you have any problems, give us a call on 020 7554 0730.

What is the FTA?

The FTA (Federation of Tax Advisers) is the tax faculty of the IFA. They merged with the IFA in 2009 and their offices are also based at Burford House.

To find out more about them or to become a member or student, please visit the FTA website.

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