Tate is retiring after seven years as a board member, including four as president.
Dowling has been a member of the IFA and its predecessor organisations since 1990. He has been on the board for the past two years and is director of Status Financial Services, based in Wellington.
Two new directors have been appointed to the IFA board: Vanessa Bourke from Wellington and Meredith Cornelius from Nelson.
They take up their appointments in July and replace Jordi Garcia and Michael Dowling.
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