Last year private equity firm FPE Capital announced a deal to pump an undisclosed sum into the Financial Planning fintech to help accelerate growth.

Dynamic Planner did not reveal the amount invested but said it was “significant.”

Dynamic Planner said that the new investment from FPE Capital would not affect its “independent focus.”

New chair Mr Whitfield has had a four decade career in financial services in a variety of roles.

He founded Thomson Online Benefits in 2000, which he led for 17 years as CEO. The firm was a start-up but now employs 500 people in over 20 countries. It provides global benefits software. 

Since 2018, he has focused on guiding other tech companies. 

Ben Goss, CEO at Dynamic Planner, said: “We warmly welcome Michael as our new chair. He has world class experience of scaling a UK FinTech business internationally and understands the importance of culture and client focus in a successful business. I and the team look forward to working with him.

“I would like to thank Neil Brown, our previous chair for his chairmanship, advice and support over the years.”