Erwin W. Boehmler, 79, retired educational director of the Investment Bankers Association of America, died of heart failure Friday at the Rossmoor Community Center near his home in Silver Spring.

A business and financial consultant, he joined the association in Chicago in 1948, moved to the IBA offices here in 1954, and retired in 1967.

A former resident of Westmoreland Hills, Mr. Boehmler moved to Rossmoor in Silver Spring about seven years ago.

He was born in Chicago and graduated from Northwestern University, where he also earned law and business administration degrees.

Mr. Boehmler was feature editor and manager of the statistical department of the Chicago Journal of Commerce from 1927 to 1934.

He then was lecturer, professor, chairman of the business administration department and dean of the Cental YMCA College in Chicago from 1933 to 1945.

After that he spent three years as director of training with the consulting firm of George Fry and Associates.

Mr. Boehmler lectured at the North-western University School of Commerce from 1946 to 1954. After coming here he lectured at George Washington University for eight years.

He was founder and codirector of the Institute of Investment Banking at the Wharton School, University of Pennsylvania, from 1961 to 1966.

A frequent contributor to business and financial publication. Mr. Boehmler was the editor and coauthor of "Financial Institutions," a widely used college textbook.

He belonged to professional organizations as well as the Masons, the National Press Club, Kiwanis, Metropolitan Methodist Church and the Inter-Faith Chapel at Rossmoor.

He is survived by his wife, Lucile, of the home; a daughter, Jean B. Bissey, of Rockville: a son, E. William Jr., of New York City, and four granchildren.

The family suggests that expressions of sympathy may be in the form of contributions to the Inter-Faith Chapel Building Fund.