Elms announced in early October that he was stepping down due to ill-health. He was replaced by marketing director Karen Barrett.
He has been applauded by the industry for “working tirelessly” to raise the profile of IFAs in his 10 years at IFAP.
IFA Promotion chairman David Graham says: “Although fully aware of the health issues which resulted in David’s early retirement last October, his sudden death on Tuesday was both unexpected and shocking. I will miss him a lot.
”David’s drive, enthusiasm and total commitment to promoting the positive benefits of independent, professional financial advice to both consumers and the media, have put IFAP in the strong, influential position it holds today.
All of us at IFAP will continue to fulfil his ambitions for the betterment of the whole of our industry. Our thoughts and support are with his family and friends at this sad time.”
Syndaxi Chartered Financial Planning managing director Rob Reid says: “The success of IFAP in what has been a difficult environment over the last few years was down to David’s single-minded determination to get the message across. It’s just sad that he will not be here to see a professional marketplace come to fruition.”