Ms Taylor, managing director of Dunham Financial Services, will serve with immediate effect, taking over from Bruce Wilson FIFP CFP^CM.

Her appointment means she will also become President in October for a two-year term when Marlene Shalton FIFP CFP^CM steps down.

Ms Taylor said: “I feel honoured to have been elected by the Board as vice president for the IFP. I look at the outstanding contribution of the current president as well as those of former presidents such as Barry Horner CFP^CM and Jane Wheeler FIFP CFP^CM and am in awe of the commitment and passion they have shown.

“The next few years are both a challenge and an opportunity for the IFP to promote the benefits of Financial Planning to the general public and the wider adviser community. I am really looking forward to playing my part in this exciting process.”

Nick Cann, chief executive of the IFP, said: “I am sure that Becky will be an exceptional President following a long line of dedicated and successful individuals who have been able to move the profession forward and ensure that positive change happens through this role.

“Her drive and energy can only seek to serve our profession well and ensure that the team exceeds the challenging goals the IFP Board has set.”

Neil Bailey CFP^CM stepped down from the Board to focus on his firm Fortitude Financial Planning.