DASH Technology chief executive Andrew Whelan has announced he will step down after nearly six years in the role.
On Friday, Whelan announced in a LinkedIn post that he was “moving on from DASH to pursue a new adventure”.
Whelan joined the business in 2021 – at which time it was still operating as WealthO2 – as chief distribution officer and has spent the last five-and-a-half years building it from a start up to a key fintech provider in the financial advice sector.
According to his post, DASH has grown its funds under administration (FUA) by 10 times since he took the helm in late 2021 and now has six times the revenue and staff.
“Every milestone we hit was the result of people showing up, adapting, solving problems and putting clients first, even when it wasn’t easy. To everyone at DASH – thank you,” Whelan said in his LinkedIn post.
“We’ve been lucky to work with some of the most impressive businesses as clients and partners from financial advisers through to industry funds. And while we haven’t been perfect at times, the support we have received has been far above expectations and we can’t thank you enough.”
DASH confirmed the move to Money Management, stating that he has stepped down as CEO and the board has “commenced a formal search process to appoint a permanent CEO”.
“In the interim, executive director Darren Pettiona will assume the role of interim CEO, ensuring continuity for clients, partners, and staff while the recruitment process is completed,” it told Money Management.
“The board remains focused on executing DASH’s strategic growth plans and is confident the business is well positioned for continued success under its experienced leadership team.
“Having guided the company through a significant period of growth and innovation, Andrew leaves a strong foundation for the next phase of DASH’s development.”
Pettiona also joined DASH in January 2021 as executive director, strategy. He is also the chair of ROAR Software and director of Midas, as well as the founder of HUB24.
DASH confirmed that Whelan gave his notice two months prior to his leaving, though the reason for his leaving is still unclear at this time.
Money Management contacted Whelan for a comment but has yet to respond.
The announcement does come at an interesting time for the business, which just signed a deal with the Association of Independently Owned Financial Professionals (AIOFP) last month.
In late May, the association signed a head of agreement with DASH to launch a white label platform – Foundation Adviser Wrap – a decision the AIOFP said was in response to member concerns regarding the security of their businesses and client relationships, citing moves from major platforms to restrict access for certain dealer groups, pointing the finger at Macquarie, Netwealth and HUB24.
Following a “multi-month review of potential platform parters”, DASH was selected for its ability to support both advisers and their clients and maintaining critical governance frameworks.
The technology firm also received a $5 million cash injection from capital fund Bailador Technology in March building on an existing relationship which saw Bailador invest $20 million in July 2024 as well as a subsequent $10 million in October 2024.