In her role as a non-executive director Ms Godfrey will chair the company's investment management division and oversee consumer insight.
She has previously headed investment strategy for wealth manager Brooks Macdonald and chaired the investment committee at Credo Capital.
In 2015 Ms Godfrey founded the now closed robo-adviser Moola and sold the business to employee benefits provider JLT in 2018 before leaving last year.
She said: "I’m excited to get stuck in at IWP as we build a service to help people afford the future they want for their families.
"Post-pandemic, people’s priorities will continue to shift towards building the finances to support a more flexible working life. I look forward to ensuring the voice of the customer is heard and that they remain central to the business as it grows."
Since coming to market last year IWP has completed eleven acquisitions, including a string of deals throughout lockdown, in pursuit of its ambitions to manage £5bn of assets this year.
Acquired firms keep their own branding upon joining IWP but share the consolidator's master brand on a national level.
David Inglesfield, chief executive at IWP, said: "I am thrilled that Gemma is joining the team, she will represent the voice of the customer for IWP, helping to ensure we place client interests front and centre of everything we do.
"Gemma’s track record as a consumer champion will help us build on this strong heritage as we continue to grow the business."
Earlier this year FTAdviser revealed IWP was set to launch an adviser academy in 2021, in a move it hopes will eventually see 50 advisers graduate to join the business each year.
Mr Inglesfield said he hoped to launch the academy in 2021, but admitted it would take a couple of years to get it fully up and running with a "significant commitment" on the part of IWP.
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