Thrivent Investment Management, Inc. is a Minneapolis-based financial advisor firm with billions in client assets under management (AUM). The firm has a client base that comprises individuals (both with and without a high net worth), but it also has some institutional clients. Thrivent offers investment management services that are tailored to its clients' individual needs, as well as a variety of financial planning services.
Thrivent is a fee-based firm. This means that certain members of its advisory staff can earn commissions for selling financial products to clients. That's different from a fee-only firm, which avoids conflicts of interest by skipping such commissions and only collecting advisory fees directly from clients.
Thrivent Investment Management Background
Thrivent Investment Management is unique in that it works with its clients to help them "make financial choices guided by their Christian values," according to the company's website. The firm has been ranked by Ethisphere as one of the world's most ethical companies for 13 years running. Thrivent was established in 2002 when Lutheran Brotherhood and the Aid Association for Lutherans merged, although it traces its roots all the way back to 1902.
The team's leadership team includes president and CEO Teresa J. Rasmussen.
Thrivent Investment Management Client Types and Minimum Account Sizes
Thrivent Investment Management works with a wide range of clients. While most are individuals without a high net worth, the firm also serves high-net-worth individuals, retirement plans, churches, charities and businesses.
The minimum account sizes at this firm depend entirely upon what type of account you're looking to open:
- Managed Accounts Programs
- Advisor: $25,000
- Advisor Guided: $25,000
- SELECT: $25,000
- Income-Focused: $25,000
- Genesis: $25,000
- Shepherd: $25,000
- Impact: $25,000
- Advantage: $25,000
- Shield: $25,000
- SMA: $100,000 - $250,000
- UMA: $250,000
Services Offered by Thrivent Investment Management
Thrivent specializes in investment management and financial planning services. Financial planning typically relates to one or more of the following financial topics:
- Retirement planning
- Risk management
- Investment planning
- Major purchase planning
- Education planning
- Income tax planning
- Estate planning
- Business continuation planning
- Special needs planning
The firm's investment management services come as a variety of different programs, which include slightly different types of investments and strategies:
- Advisor: This non-discretionary service focuses on individual stocks, bonds, mutual funds and exchange-traded funds (ETFs).
- Advisor guided: This is the same as the Advisor program, but it is instead discretionary, meaning advisors have the ability to make investment decisions without the client's approval.
- Advantage: Another non-discretionary investment advisory program that invests in individual securities, mutual funds, unit investment trusts (UITs), exchange-traded products, options, bonds, CDs and alternative investments.
- SELECT: This discretionary program utilizes model portfolios that consist of mutual funds, ETFs and closed-end funds that are managed by an affiliated platform manager.
- Income-focused: This works like the SELECT program, but it's centered around dividend investments which provide consistent income.
- Genesis: This discretionary program consists entirely of Blackrock ETF model portfolios.
- Shepherd: Similar to the Genesis program, this discretionary service offers portfolios comprised of Vanguard ETF model portfolios.
- Shield: The model portfolios in this program are managed on a discretionary basis and are designed to minimize the risk of losses.
- Separately managed account (SMA): SMA sub-advisors provide discretionary investment management services by investing in equities, fixed-income securities, mutual funds and ETFs.
- Unified managed account (UMA): This works just like the SMA program, but it also uses SMA and mutual fund/ETF sleeves.
This firm also offers what it calls the AdvisorFlex Managed Variable Annuity program. As its name indicates, this program consists of advisors aiding clients in the management of their AdvisorFlex Variable Annuity.
Thrivent Investment Management Investment Philosophy
The investment philosophy at Thrivent varies considerably between accounts and programs. When selecting a program or strategy, the firm takes into account such information as a client's financial goals, investment preferences, risk tolerance and liquidity needs.
Most programs can be tailored to target varying degrees of risk and volatility, from aggressive to conservative. Advisors use a wide range of strategies, research materials, financial models and projections to help them inform their ultimate investment decisions.
Fees Under Thrivent Investment Management
Fees vary based on the type of account that you hold at Thrivent Investment Management. Although shown in annual rates, the firm charges the following fees on a quarterly basis:
| Advisor, Advisor Guided, SELECT, Income-Focused, Genesis, Shepherd & Shield Fee Schedules | ||
| Assets Under Management | Maximum Dedicated Planning Fee | Maximum Annual Fee Rate |
| Up to $99,999 | 0.80% | 2.00% |
| $100,000 - $249,999 | 0.75% | 1.85% |
| $250,000 - $499,999 | 0.70% | 1.70% |
| $500,000 - $999,999 | 0.60% | 1.55% |
| $1,000,000 - $2,999,999 | 0.33% | 1.45% |
| $3,000,000 - $4,999,999 | 0.20% | 1.25% |
| $5,00,000 - $9,999,999 | 0.10% | 1.00% |
| $10,000,000 and above | 0.05% | 0.90% |
| Advantage Fee Schedule | ||
| Assets Under Management | Maximum Dedicated Planning Fee | Maximum Annual Fee Rate |
| Up to $99,999 | 0.80% | 1.60% |
| $100,000 - $249,999 | 0.75% | 1.55% |
| $250,000 - $499,999 | 0.70% | 1.50% |
| $500,000 - $999,999 | 0.60% | 1.45% |
| $1,000,000 and above | 0.33% | 1.35% |
| SMA & UMA Fee Schedules | |||
| Assets Under Management | Maximum Dedicated Planning Fee | Maximum Annual Fee Rate | |
| Up to $99,999 | 0.80% | 2.50% | |
| $100,000 - $249,000 | 0.75% | 2.50% | |
| $250,000 - $499,000 | 0.70% | 2.50% | |
| $500,000 - $999,999 | 0.60% | 2.40% | |
| $1,000,000 - $2,999,999 | 0.33% | 2.30% | |
| $3,000,000 - $4,999,999 | 0.20% | 2.20% | |
| $5,000,000 - $9,999,999 | 0.10% | 2.00% | |
| $10,000,000 and above | 0.05% | 1.90% | |
Learn more about advisors' typical costs here.
What to Watch Out For
As a fee-based firm, certain members of Thrivent Investment Management's staff can receive commissions for the sale of financial products. While this could introduce a potential conflict of interest, the firm is still a fiduciary, and is therefore legally obligated to act in clients' best interests at all times
Thrivent also has eight disclosures listed on its Form ADV – all but on of which are attributed to affiliates of the firm.
Opening an Account With Thrivent Investment Management
Those looking to work with Thrivent Investment Management have several contact options. On its website, you can submit a form and have a representative contact you to answer your questions or help you find an advisor. You can also search for advisors by location or call (888) 847-4836 to be connected directly with an advisor over the phone.
All information is accurate as of the writing of this article.
Retirement Planning Tips
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