When you give a gift on SparkGift, you provide the name and email of gift recipient (and parent name and email if under 18). You choose a stock or fund that you would like to give and pay. Using fractional shares technology, SparkGift enables you to get a fraction of a share (if you buy $20 of a stock that is trading at $100, you’re getting 0.2 of a share). SparkGift creates a gift certificate and notifies the recipient that they have received this gift.
The gift recipient then uses the SparkGift website to create an investment advisory relationship with Spark Advisors, and completes the steps to open a brokerage account with our brokerage partner Folio Institutional. Folio Institutional provides the brokerage engine that powers numerous financial investment advisors, including Spark Advisors. Once the brokerage account has been opened and the gift accepted, Spark Advisors will place a trade in the gift recipient's brokerage account. The gift recipient logs into SparkGift to see their investment portfolio.