Arthur Kallos

National dealer group Spark Financial has partnered with technology providers Oko Platforms and Voyant in enabling its financial advisers to offer sustainable investing solutions to clients and also improve practice cash flow management.

Oko Adviser is a sustainability investing platform which allows advisers to work with clients on existing or proposed investment solutions, while Voyant offers financial planning and wealth management software.

Spark Financial Group chief executive, Arthur Kallos, said the technology provided by Oko Platforms and Voyant will work in sync with Spark Financial’s existing software system, and drive client growth among Spark Financial’s advisory network.

“The combination of the Oko and Voyant softwares will mean our advisers can offer clients – of all demographics and wealth phases – a more comprehensive suite of products, including sustainable investments, as well as model complex scenarios that help clients visualise their financial goals.

“The two sets of software are complementary to one another and collectively work to strengthen the tool kit of our advisers, particularly important at a time when accessing quality, affordable financial advice is paramount,” he said.

The partnerships follow the recent announcement by Spark Financial Group that it had transitioned to a profit-for-purpose business model. Under the new arrangement, Spark Financial will be donating 100 per cent of its profits to nominated charity partners, including the Financial Basics Community Foundation, with the aim of improving financial literacy among young Australians.

According to Mr Kallos, the partnership with Oko Platforms in particular will be key to Spark Financial fulfilling the sustainability pillar of the profit-for-purpose model.

“There’s an increasing desire for clients to work within sustainable value investments, and it’s not just millennials and younger investors wanting to make a positive impact and drive meaningful change,” he said.

Oko Platforms chief executive, Tom Culver, said the platform aggregates sustainability data making it available to advisers who can then better inform clients on investment solutions appropriate to their personal sustainability preferences.

“Financial advisers often find themselves challenged by the evolving client demands to incorporate sustainability into investment advice.

“They play a critical role in merging client expectations on sustainable values and financial outcomes, we’re confident our partnership with Spark will deliver this for its Advisers and their clients,” he said.

Voyant vice president of business development, Australia and Europe, Stephen Brown said: “The current level of market uncertainty along with cost-of-living pressure have reinforced the need to plan ahead and consider investments more strategically.”

He continued: “Voyant is designed to remove the complexity around financial planning while enabling Spark advisers to visually demonstrate necessary cash-flow levels at each life stage so clients can invest accordingly.”

Spark Financial Group commenced operating in 2018 with five authorised representatives. It currently supports 80 financial advisers within its network, who collectively manage over $1.5 billion in funds under management.

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Arthur Kallos

National dealer group Spark Financial has announced its participation in the upcoming Adventure All Stars TV series, a global philanthropic initiative which donates proceeds to Australian charities.

Spark Financials’ involvement follows its recent announcement that it has transitioned to a profit-for-purpose business model, with 100 per cent of its profits donated to nominated charity partners.

Six advisors from the Spark Financial network have been selected to take part in the series, which is broadcast in 25 countries to an audience of 100 million people. These include Simran Dhillon, Tim Lee, Shane Isbester, Dan Diprose, Josh Eisemann, and John Cachia who, as part of the program, will be transported to a secret destination to undertake a week of adventure. Filming takes place 20-25 August 2023.

As part of the pre-filming requirements, all cast members raise funds and awareness for a nominated charitable cause. All proceeds from the six participating advisers will be distributed to Spark Financial Group’s philanthropic partner, Financial Basics Community Foundation.

According to Spark Financial chief executive, Arthur Kallos, the ethos of the Foundation closely reflects that of Spark Financial.

“The Foundation embodies Spark Financials’ belief in the power of financial literacy and providing educational resources to young Australians from an early age.

“We are driven by our commitment to improve financial literacy standards among young people, including those who are disadvantaged.

“Our participation in Adventure All Stars reflects these core values. By donating all proceeds to the Foundation, we are making a lasting difference in the lives of individuals and communities,” he said.

Prior to the commencement of filming, all cast members raise funds for a designated charitable cause which, in turn, has earned them a role in the TV series. Unlike traditional experiential or reality TV shows, Adventure All Stars cast members do not receive appearance fees, ensuring all net proceeds are directed to charity.

“Adventure All Stars isn’t just about showcasing destinations; it’s about inspiring action. Through this program, our advisors are actively participating in an adventure that resonates with our ethos of making meaningful contributions to society,” said Mr Kallos.

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Damien Kirby and Tennille Catchpole have been appointed to the newly created role of advice and compliance coach in the southern region and northern region respectively. The role is intended to strengthen communication between the group’s 80 financial advisers and executive, as well as assisting with the delivery of client service and practice management.

Further, in recognition of the increased industry focus on governance, Spark Financial Group has also announced the expansion of Shane Isbester’s role within the group to head of professional standards and governance.

Under the expanded remit, Mr Isbester will focus on AFSL policy and governance, Quality of Advice Review response and integration, adviser onboarding, and the audit function.

Head of practice development, Cathy Kildea, will also take on the additional role of advice and compliance coach, serving newly recruited financial advice practices.

According to founder and CEO, Arthur Kallos, the appointments have been made at a critical juncture in both the growth trajectory of Spark Financial and the evolution of the financial advice sector.

“As Spark Financial continues to prioritise its mission of delivering quality advice to clients, the addition of Damien and Tennille to the team along with the expanded remits of Shane and Cathy, will be of great value to our adviser base and their clients.

“Ensuring we have the necessary guidance and coaching in place will go some way in setting up our advice practices amid an ever-changing regulatory environment.

“On behalf of the organisation, I would like to extend a warm congratulations to Damien, Tennille, Shane and Cathy, and look forward to seeing their contributions to Spark Financial,” he said.

All appointments are effective from July 2023.

The appointments follow Spark Financial’s recent announcement that it has transitioned to a profit-for-purpose operating model. The Group will be donating 100 per cent of its profits to nominated charity partners, which will improve financial literacy among young Australians.

The Spark Legacy Program will provide several mechanisms that allow its advisors to participate in several initiatives that positively impact their local communities and drive meaningful change, including those relating to financial hardship, financial abuse and mental health issues.

Under the profit-for-purpose model, the Spark Legacy Program agrees to support financial literacy and well-being through easy-to-understand products and services, and appropriate tools and resources to facilitate understanding and decision making about financial products and services.

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Andrew Coloretti

National dealer group Spark Financial Group will officially begin operating as a profit-for-purpose organisation from this Saturday, 1 July, when it launches its Spark Legacy Program.

The Group will be donating 100 per cent of its profits to nominated charity partners, the first of which will be announced in the coming weeks. The objective of the new operating model is to improve financial literacy among young Australians.

Spark Financial Group director and chief investment officer, Andrew Coloretti, said with all profits being directed to charity in perpetuity, the organisation will be delivering on its core organisational ethos and values.

“The Spark Legacy Program is testament to the support of our executive, our advisors and our partners who want to contribute to our society in a co-ordinated, structured manner.

“Transitioning a business model from for-profit to profit-for-purpose is no easy feat and not a decision the executive has taken lightly, but we’re proud to be changing direction in such a way.

“It has been a trying few years for many people, punctuated by COVID lockdowns and the resulting economic uncertainty. The opportunity to improve the financial well-being of young Australians, in particular, is one that has been embraced by our network.

“We are determined to stand for something and make a real, tangible difference to the lives of people who have a low level of financial literacy or little access to financial literacy education,” he said.

The Spark Legacy Program will provide several mechanisms that allow its advisors to participate in several initiatives that positively impact their local communities and drive meaningful change, including those relating to financial hardship, financial abuse, and mental health issues.

“We’re in a unique position to shift perceptions and reframe society’s view of money to be well beyond just the fortunate few,” he said.

Under the profit-for-purpose model, the Spark Legacy Program agrees to support financial literacy and well-being through easy-to-understand products and services, and appropriate tools and resources to facilitate understanding and decision making about financial products and services.

The Spark Legacy Program will also comprise of a charity fund, Spark Hope, which will be overseen and governed by an independent trustee, and become a mechanism for Spark advisors to contribute towards the program’s initiatives.

“Our new model will ultimately result in young and vulnerable Australians being better informed about money and where and how to invest.

“It’s an opportune time for the broader financial services industry to unite and consider both its individual and collective contributions to the common good,” said Mr Coloretti.

Spark Financial Group commenced operating in 2018 with five authorised representatives. It currently supports 80 financial advisers within its network, who collectively manage over $1.5 billion in funds under management.

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