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Thrivent Investment Management Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

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 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 ranked by Ethisphere as one of the world's most ethical companies for 10 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 and Mary Jane Fortin, who also serves as president and chief commercial officer. 

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: $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 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
  • 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 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.
  • 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 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's financial planning services, 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 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 12 disclosures listed on its Form ADV  seven of which are attributed to affiliates of the firm and five of which are attributed to the firm itself. 

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) 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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  • When you’re planning out your income for retirement, don’t forget to add in Social Security payments. Although Social Security won’t be enough to retire on, it can be a valuable addition to your existing retirement funds. To find out how much you’re in line to receive, stop by SmartAsset’s Social Security calculator.

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.

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