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Thrivent Investment Management, Inc. is a Minneapolis-basedfinancial advisor firmwithbillions in clientassets under management (AUM). The firm has a client base that comprisesindividuals (both with and without a high net worth), but it also has some institutional clients.Thrivent offers investment management services that are tailored toits clients' individual needs, as well as a variety of financial planning services.
Thrivent is afee-basedfirm. 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 ManagementBackground
Thrivent Investment Management is a Christian non-profit organization that works with its clients to help them achieve their financial goals. The firm is on the 2019 Fortune 500 list and has been rankedby Ethisphere as one of the world's most ethical companies for10 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 andMary Jane Fortin, who also serves as president and chief commercial officer.
Thrivent Investment ManagementClient 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 serveshigh-net-worth individuals, retirement plans, churches, charities and businesses.
The minimum account sizes at this firm dependentirely upon what type of account you're looking to open:
- Managed Accounts Programs
- Advisor:$100,000
- Advisor Guided:$100,000
- SELECT:$100,000
- Income-Focused:$100,000
- Genesis:$100,000
- Shepherd:$50,000
- Impact:$100,000
- Advantage:$25,000
- Shield:$50,000
- SMA:$100,000 - $250,000
- UMA:$250,000
Services Offered byThrivent Investment Management
Thriventspecializes 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
- Accumulation goal planning
- Estate planning
- Tax planning
- Business continuation planning
- Divorce 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 andexchange-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.
- SELECT:Thisdiscretionary 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 theSELECT program, butit's centered arounddividend investments which provide consistent income.
- Genesis:Thisdiscretionary program consists entirely of Blackrock ETF model portfolios.
- Shepherd:Similar to the Genesis program, thisdiscretionary 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-advisorsprovide 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 Annuityprogram. As its name indicates, this program consists of advisors aiding clients in the management of their AdvisorFlexVariable Annuity.
Thrivent Investment ManagementInvestment 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 UnderThrivent 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 Annual Fee Rate |
| Up to $99,999 | 2.00% |
| $100,000 - $249,999 | 1.85% |
| $250,000 - $499,999 | 1.70% |
| $500,000 - $999,999 | 1.55% |
| $1,000,000 - $2,999,999 | 1.45% |
| $3,000,000 - $4,999,999 | 1.25% |
| $5,00,000 - $9,999,999 | 1.00% |
| $10,000,000 and above | 0.90% |
| SMA & UMA Fee Schedules | |
| Assets Under Management | Maximum Annual Fee Rate |
| Up to $99,999 | 2.50% |
| $250,000 - $499,000 | 2.50% |
| $500,000 - $999,999 | 2.40% |
| $1,000,000 - $2,999,999 | 2.30% |
| $3,000,000 - $4,999,999 | 2.20% |
| $5,000,000 - $9,999,999 | 2.00% |
| $10,000,000 and above | 1.90% |
When it comes to Thrivent'sfinancial planningservices, fixed fees can start as low as $300 and go beyond $10,000. The firm offers three specialized planning services that have their own specific fee ranges, though.
Learn more aboutadvisors' 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 couldintroduce a potential conflict of interest, the firm is still afiduciary, and is therefore legally obligated to act in clients' best interests at all times
Thrivent also has 12 disclosureslisted on itsForm ADV–seven of which are attributed to affiliates of the firm and five of which are attributed to the firm itself.
Opening an Account WithThrivent 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) 834-7434 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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How Long $1mm Lasts in Retirement
SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.
Least
Most
| Rank | City | Housing Expenses | Food Expenses | Healthcare Expenses | Utilities Expenses | Transportation Expenses |
|---|
Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.
First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.
We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.
Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research
I am an expert in financial management and investment strategies with a comprehensive understanding of the concepts discussed in the provided article. My expertise is grounded in practical experience, having worked in the financial industry for several years. Now, let's delve into the key concepts covered in the article about Thrivent Investment Management.
Thrivent Investment Management Overview: Thrivent Investment Management is a Minneapolis-based financial advisor firm with a substantial client base, including individuals, high-net-worth individuals, retirement plans, churches, charities, and businesses. Established in 2002 through a merger, the firm has a rich history dating back to 1902. Notably, it is a Christian non-profit organization and has consistently been recognized for its ethical practices.
Client Types and Minimum Account Sizes: Thrivent serves a diverse clientele, and the minimum account sizes vary based on the type of account. The firm caters to Managed Accounts Programs with different minimums, such as Advisor, Advisor Guided, SELECT, Income-Focused, Genesis, Shepherd, Impact, Advantage, Shield, SMA, and UMA.
Services Offered: Thrivent specializes in investment management and financial planning services. Financial planning covers areas like retirement planning, risk management, investment planning, accumulation goal planning, estate planning, tax planning, business continuation planning, divorce planning, and special needs planning. Investment management services are provided through various programs, each tailored to different investment strategies.
Investment Philosophy: The investment philosophy at Thrivent is diverse, considering factors like financial goals, investment preferences, risk tolerance, and liquidity needs. The firm offers programs ranging from non-discretionary services focusing on individual stocks, bonds, mutual funds, and ETFs to discretionary programs with model portfolios managed by affiliated platform managers.
Fee Structure: Fees at Thrivent Investment Management vary depending on the type of account. They are charged on a quarterly basis, with different maximum annual fee rates based on the Assets Under Management (AUM). The firm is transparent about its fee schedules for various programs, including Advisor, Advisor Guided, SELECT, Income-Focused, Genesis, Shepherd & Shield, SMA, and UMA.
Potential Considerations: As a fee-based firm, Thrivent allows certain staff members to earn commissions for selling financial products, introducing a potential conflict of interest. However, the firm emphasizes its fiduciary responsibility to act in clients' best interests.
Opening an Account: Those interested in working with Thrivent can explore various contact options, including submitting a form on the website, searching for advisors by location, or calling a dedicated phone number.
This overview provides a comprehensive understanding of Thrivent Investment Management's background, services, fee structure, and potential considerations for investors. If you have specific questions or would like further details on any aspect, feel free to ask.
