The remaining 16 members of the trade body’s board will elect a new chairman from within its ranks, while London and Country will also nominate a replacement for Bunton as its member.
AMI chief executive Robert Sinclair (pictured) said it had been a pleasure working with Bunton for many years – including being part of the team that separated AMI from the former Association of Independent Financial Advisers (AIFA).
“Pat has been a passionate advocate of consumer-focused advice and the role that advisers play in delivering great results to the UK population,” he said.
“He has given his time and considerable expertise and knowledge for no reward other than knowing he was doing the right thing.
“The intermediary sector owes him a great debt for the work he has done on the mortgage market review, mortgage prisoners, the ongoing competition review, revision to the compensation scheme and a regulator that listens to the mortgage advice community.”
Sinclair added that Bunton’s input would be missed by AMI, regulators and government.