The Vision of Spark Advisors is to be the preferred Boutique Dealer Group in Australia, providing solutions that are technologically driven, innovative and custom built for new age financial advisors.
Our Mission is to equip our Advisors with market leading solutions to enable them to build strong, profitable businesses with client engagement of the highest level.
Our goal is to positively impact the lives of every day Australians by providing good advice through our Group.
Thus, the recruitment of our Advisors is an imperative, as is the capability
set we provide to them.
Our strategic partnerships & alliances offer our advisors leading, cutting-edge solutions. This, combined with
working within a boutique, privately owned & personable business, provides a unique value proposition to the
Advisors within our Group.
The Spark System
SparkAdvisors aims to attract the most capable and talented Advisors with the entrepreneurial ability to start their own businesses or to assist established practices improve their business systems and value propositions to deliver stronger results. Our offer to financial planners has been built specifically for planner practices who wish to remain agile, compliant and highly effective.
Are you considering moving to a
new AFSL or starting your own business?
According to Advisor ratings, there are many reasons why an advisor may choose to move to an alternative licensee, some of the more common ones consistently include:
- Uncompetitive or out of date fee structures
- Complicated advice production
- Lack of client management systems and process
- Lack of education, training and compliance support
- Lack of independence
There is a significant number of financial advisors who are either moving, or considering a move from their current license to another and furthermore there are the new advisers entering the industry each year, resulting in advisor growth remaining strong.
At Spark Advisors
We believe that the Advice Industry in Australia is about to embark in major disruptive change.
- Firstly through the large employers deleveraging their Advisor models such as those currently seen in Bank Dealer Groups potentially placing thousands of advisors on the market looking for a new AFSL to call home;
- Embracement of technology and how that can improve business practices and client experience; and
- Consumer movement from trusted brand models to trusted personal brands or individual trust platforms and the rise of the “Freelancing economy”.
At Spark Advisors, we equip and are preparing our Advisors for these changes, but most importantly help them build a successful business that they 100% own.
The growth of the freelancing economy is being fuelled through the ability to find and connect with others through social media platforms and the like.
With sites like Upwork, Freelancer, Airtasker, 99designs and Expert360 rapidly gaining popularity, an estimated 4.1 million people, or around 32 percent of our workforce, have done freelance work in the 2016 - 2017 year.
Spark Advisors sees this trend emerging into the financial planning space. In practice, this will allow Advisors to be free from the need to be part of a larger Brand that offers physical facilities for Advisors to deliver their craft and as a result, may fall into a system that mat not deliver the desired result for the Advisor or the client, but ultimately builds business assets for another.
Our future view is that companies and consumers will seek the services of on demand Advisors, thus with the support of Spark Advisors, an Advisor can plug into the Spark System and build a successful financial planning practice that is cutting edge, personal & profitable.
Upwork’s survey found the majority (58 per cent) of freelancers said they made the shift by choice. Rich Pearson, senior vice president, marketing and categories at Upwork states
Just over half (51 per cent) who left traditional employment now earn more, and of those, 69 per cent said they topped their previous income within a year. Fifty-eight per cent said they would not quit and go back to a traditional job, no matter how much it paid.
Freelancing in Australia is a powerful movement and it’s changing how people approach and even define work,” he said. “It used to be something you said out the side of your mouth, maybe you weren’t so proud to admit, but it’s becoming a much more respected and desirable career path, even aspirational.
Tech-savvy millennials now make up nearly half of the 4.1 million freelance workforce. This year, the most notable change in demographics was with millennials, with 42 per cent of now freelancing compared to just 33 per cent in 2014. They now make nearly half (47 per cent) of the freelance workforce.
Bridget Loudon, founder of freelance high-end consulting platform Expert360, said young professionals were becoming increasingly comfortable stepping out of the workforce earlier to take on freelance work.
We’re not creating a movement, we’re simply putting infrastructure around a macro shift that is clearly already happening,” she said. Expert360 has 5000 consultants on its platform, many of whom left the major accounting firms such as Deloitte, KPMG, PwC and Ernst & Young, which have churn rates of up to 30 per cent per year.
As companies begin to value it more we’ve seen the average daily rate for freelance and consulting work go up to about $1500 a day, which is about three times what you would get in an equivalent role,” she said. Expert360 has had around $21 million worth of jobs posted since launch two years ago, compared with the more than $1 billion spent annually on Upwork.