You may be a volunteer or a paid worker, new to money advice, have years of experience, or support free money advice through your work in a related role; whatever your circumstance, the variety of membership categories means there will be something suitable for the type of work you do, your experience and your qualifications.
Associate membership is open to individuals
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:
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 This Accredited status can be rescinded where a member fails to comply with the requirements, as detailed above.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.
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, non fee-charging 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 per cent reduction from the cost of full Associate membership.
Please note that Trainee members are not able to undertake the Certificate in Money Advice Practice.
Affiliate membership is open to individuals who are not providing money advice, but are working in related roles.
In the course of their employment (paid or otherwise), Affiliates must in some way promote free, confidential and impartial money advice.
Examples of job roles normally eligible for Affiliate membership include:
Please note that this list is not exhaustive and that we assess each application for membership on its own merits.
Affiliate members must not be working for fee-charging advice agencies.
This is a category for members previously in the Accredited or Associate categories who are now unemployed or taking an extended break from work. Non-Practising members benefit from a reduced annual membership fee. See here for details of IMA membership fees.
The purpose of this category is to enable members to maintain their membership of the IMA, stay up to date with our work and developments in the sector, and to support such members back into work if desired, through access to IMA resources and qualifications.
The category also allows Non-Practising members to continue to support us as an organisation, including through holding voluntary positions, for example as Trustees or Council Representatives.
To qualify, you must not be in paid employment or self employment, and you must not be eligible for any other category of membership. The category is only open to current Accredited and Associate members, not to new applicants.
This is a category for retired people who were Accredited, Associate or Non-Practising members on the date of their retirement from work. Retired members benefit from a reduced annual membership fee. See here for details of IMA membership fees.
The purpose of this category is to enable retired members to maintain their membership of the IMA, stay up to date with our work and developments in the sector, and continue to support us as an organisation, including through holding voluntary positions, for example as Trustees or Council Representatives.
To qualify, you must not be in paid employment or self employment, and you must not be eligible for any other category of membership. The category is only open to current or previous Accredited, Associate or Non-Practising members, not to new applicants.
Honorary Fellowship is the Institute’s ultimate accolade, intended to recognise someone that has made an outstanding contribution to the free-to-client money advice sector and profession, or a significant contribution to the IMA. For full details of eligibility criteria and how an Honorary Fellowship is awarded, please see Rule 14 of the IMA’s Membership Rules and Regulations, and Article 18 of the IMA’s Articles of Association, both available here.
| Associate Membership | Accredited Membership | Affiliate Membership | Trainee Membership | Non-Practising / Retired Membership | |
|---|---|---|---|---|---|
| Provide money advice | Y | Y | N | *Y/N | N |
| Hold the appropriate FCA permissions | Y | Y | N | **Y/N | N |
| Hold insurance that covers your work | Y | Y | N | Y | N |
| Comply with the IMA Statement of Good Practice | Y | Y | Y | N | N |
| Comply with the IMA Professional Code of Conduct | Y | Y | Y | N | N |
| Comply with the IMA Membership Rules | Y | Y | Y | Y | Y |
| Hold the Certificate in Money Advice Practice | N | Y | N | ***N | ***N |
| Comply with the IMA CPD scheme | N | Y | N | ***N | ***N |
*Trainees are not expected to deliver advice until they have satisfied their organisation that they are proficient to do so.
**Appropriate FCA permissions are only required once the trainee is delivering advice.
***Affiliates, Retired and Non-Practising members can hold the CertMAP qualification and comply with the CPD scheme, but this is not a requirement for these categories.
| Associate Membership | Accredited Membership | Affiliate Membership | Trainee Membership | Non-Practising / Retired Membership | |
|---|---|---|---|---|---|
| Reduced fees for IMA training | Y | Y | Y | Y | Y |
| Free Quarterly Account journal | Y | Y | Y | Y | Y |
| Free access to Wiseradviser training | Y | Y | Y* | Y | N |
| Certificate in Money Advice Practice | Y | Y | Y | N | Y |
| IMA accreditation and CPD scheme | N | Y | Y** | N | Y** |
| Use of MIMA (Cert) initials | N | Y | N | N | N |
| Use of AIMA (Cert) initials | N | N | Y*** | N | N |
| Access to free second-tier specialist debt advice | Y | Y | N | N | N |
| Apply to be a DRO intermediary | Y | Y | N | N | N |
| Reduced fees for IMA conference | Y | Y | Y | Y | Y |
| Money Advice Group and branch meetings | Y | Y | Y | Y | Y |
| Weekly Bulletin email | Y | Y | Y | Y | Y |
| Members-only area of the IMA website | Y | Y | Y | Y | Y |
| AGM attendance | Y | Y | Y | Y | Y |
| AGM voting rights | Y | Y | N | N | Y |
| Hold IMA Board positions | Y | Y | N | N | Y |
| Hold IMA Council positions | Y | Y | N | N | Y |
* Affiliate members are eligible for a six-month initial registration with Wiseradviser if they meet the following criteria:
– the member’s employer gives free debt advice and services
– the member’s employer is authorised by the FCA to give debt advice – qualifying members working for organisations without FCA permissions will only be granted access to introductory level courses by Wiseradviser
** Only if the member has completed the Certificate in Money Advice Practice
*** Only if the member has completed the Certificate in Money Advice Practice and is compliant with the continuing professional development scheme
If you need more information about any of our membership categories, please contact us at membership@i-m-a.org.uk or on 0113 242 0048.