Associate membership is open to individuals

• who work in the money advice sector (applicants will normally have at least 12 months’ experience – those with less may wish to consider applying for trainee membership, see below)
• whose function of employment (paid or unpaid) includes the delivery or promotion of free, confidential, independent and holistic money advice
• who do not yet hold our Certificate in Money Advice Practice qualification
• whose work conforms to and fully supports the definition of money advice as defined in our Statement of Good Practice
• who work to or promote the standards and practices set out for members in the IMA’s Statement of Good Practice
• who have the relevant FCA permissions (or who are exempt) and hold the appropriate professional indemnity insurance.

Associate members will normally be carrying out FCA-regulated activities, such as:

Debt Counselling
(1) giving advice to a borrower about the liquidation of a debt due under a credit agreement;
(2) giving advice to a hirer about the liquidation of a debt due under a consumer hire agreement.

or

Debt Adjusting – this activity comprises the following, in relation to debts due under a credit agreement or consumer hire agreement:
(1) negotiating with the lender or owner, on behalf of the borrower or hirer, terms for the discharge of a debt;
(2) taking over, in return for payments by the borrower or hirer, that person’s obligation to discharge a debt; or
(3) any similar activity concerned with the liquidation of a debt.

If you are not undertaking these activities, but are giving more general advice, primarily signposting or doing financial capability work, Affiliate membership is likely to be more suitable.

Accredited membership is open to current IMA members who satisfy the requirements of Associate membership, but also:

• have been awarded the IMA’s Certificate in Money Advice Practice,
• have satisfied the requirements for the IMA’s continuing professional development scheme, and
• continue to comply with the IMA’s Code of Conduct for Members and Affiliates.

Current Associate members are automatically awarded Accredited membership once they have successfully completed the Certificate in Money Advice Practice and, as such, non-members cannot apply for Accredited membership. This Accredited status can be rescinded where a member fails to comply with the requirements, as detailed above. Follow the links for more information about the IMA’s Certificate in Money Advice Practice and Continuing Professional Development scheme.

In order to be a member of this category you will need to have the relevant FCA permissions (or be exempt) and hold the appropriate professional indemnity insurance.

Affiliate membership is open to any individual who has some involvement in money advice and financial work in its widest sense, and who does not qualify for Associate membership. Affiliate members may be giving more general advice, primarily signposting or doing financial capability work.

Individuals may be admitted to Affiliate membership if:

(i) In the course of their employment (paid or otherwise) they promote free, confidential, impartial money advice as defined within the IMA’s Statement of Good Practice and

(ii) they work to, or promote, the standards and practices set out for individual affiliation within the IMA’s Statement of Good Practice.

Example of job roles which would normally qualify an individual for Affiliate membership include:

• Budget Support Worker
• Tenancy Sustainment Officer
• Welfare Benefits Adviser
• Financial Inclusion Officer
• Income Adviser
• Housing Officer
• Energy Adviser
• Housing Support Tenancy Officer
• Credit Union Membership Officer
• Social Policy Officer
• Benevolent Fund Officer
• Managers not providing technical supervision

Trainee membership is open to individuals who do not yet meet the requirements for Associate membership, but who can demonstrate that they have a genuine interest in, and are working towards, fulfilling the Associate membership criteria and working (paid or unpaid) in the free, not-for-profit advice sector. Applicants for trainee membership will normally have been working in money advice for less than 12 months.

Trainee members benefit from a 20% reduction from the cost of full Associate membership.

This is a category for members who previously qualified for either the Accredited or Associate membership categories, but who have either retired or now find themselves out of work. Non-Practising members benefit from a reduced annual membership fee of £36.

The purpose of this category is to support these advisers, to maintain their membership of the IMA and to provide a package of benefits to assist them in finding future work if desired.

To qualify, you must not be working for a fee-charging advice organisation or be a self-employed fee charging adviser. You must not be eligible for any other category of membership. The category is only open to previous Accredited and Associate members, not to new applicants.

The Honorary Fellows category of membership is for those members who are recognised as having made a special contribution to the money advice sector and the Institute. Nominations are approved by the Board and the announcement of new Fellows is made annually at the AGM, which takes place at our annual conference.