Ms Wheeler, who was credited with concept of the Accredited Financial Planning firm, has packed up work after a long career, which included working with Paradigm Norton in the last two years. Previously she ran her own business, Direction Financial Planning, which was based in Taunton.

Barry Horner CFPCM, chief executive of Paradigm Norton and another ex-IFP President, said: “ I know that Jane is very much looking forward to her retirement and spending more time with her family as well as travelling and seeing more of the world. Jane has made an enormous contribution towards the building of the financial planning profession both in the UK and internationally.

“I had the privilege of following in her footsteps after she had served the IFP Board for many years and was the President between 2006 and 2008. Jane was also a Board member of the international FPSB and served tirelessly and diligently on this Board too.

“The concept of the Accredited Financial Planning firm was also one of Jane's bright ideas which has established itself as the mark of excellence for firms in the UK. We all wish Jane well and thank her for all that she has done to further the financial planning profession.”

Rebecca Taylor, who stepped down as IFP President in October, named Ms Wheeler as one of the “incredible people” she had “the privilege of learning from”.

Ms Wheeler was, with Mr Horner, one of four past IFP Presidents who publicly backed the merger with the CISI, saying she expected it to give the emerging profession a great boost with enhanced resources.

She said teaming up with the CISI is going to enable the IFP to “develop the profession of Financial Planning for the benefit of consumers in the UK which I believe to be very important”.