Spark announces advice and compliance appointments

Spark Financial Group has announced that among several changes, it has appointed Damien Kirby and Tennille Catchpole as advice and compliance coaches in the southern region and northern region, respectively.

The dealer group said the newly created roles are 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”.

Spark also announced the expansion of Shane Isbester’s role within the group to head of professional standards and governance, which it said would involve a focus on AFSL policy and governance, Quality of Advice Review response and integration, adviser onboarding, and the audit function.

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

Spark founder and chief executive Arthur Kallos said: “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.”

The appointments, which are effective from July 2023, come after Spark’s transition to a “profit-for-purpose” business at the start of the month.

The dealer group launched the Spark Legacy Program on 1 July to kick off its new model, in which 100 per cent of its profits will be donated to nominated charity partners. While the charities have not yet been disclosed, Spark said the objective of the new operating model is to “improve financial literacy among young Australians”.

At the time, Spark director and chief investment officer, Andrew Coloretti, said the new model would see the dealer group deliver on its core organisational ethos and values.

“The Spark Legacy Program is testament to the support of our executive, our advisers, and our partners who want to contribute to our society in a coordinated, structured manner,” Mr Coloretti said.

“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 wellbeing 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.”