Advisors Seeking both Independence and Community Join Thrivent Advisor Network

MINNEAPOLIS, July 8, 2020 /PRNewswire/ -- Thrivent Advisor Network (TAN), the platform for independent purpose-driven advisors looking to deliver fiduciary advice as members of a community with shared values, welcomes 49 Financial to the network. Led by founder and CEO Travis Penfield, 49 Financial takes a holistic approach to counseling clients, including financial planning, investment management and insurance solutions. With over 60 financial advisors that represent an average advisor age of 24, 49 Financial is a leader in next generation advisor development.

"Thrivent Advisor Network was created for advisors who want to help their clients build lives full of meaning and gratitude in ways that go beyond the simply financial," said Luke Winskowski, Head of Thrivent Advisors Network at Thrivent. "Our platform resonates with advisors who represent the next generation of leadership for the advisory profession - like the team at 49 Financial. These advisors believe financial clarity is achieved through talking about values with their clients, such as the fusion of finance and faith. The advisors TAN is attracting have a sincere desire to grow, not simply for financial success but in order to change the world for the better by helping their clients lead more fulfilling lives."

Headquartered in Austin, Texas, 49 Financial has additional offices in Dallas, Houston and Atlanta, with plans to expand to additional major metro markets over the next few years. The firm currently consists of seven founding senior advisors and more than 60 other advisors who were attracted to TAN not only because of their shared values, but also because Thrivent has business and professional development resources that 49 Financial would be unable to duplicate on its own. 49 Financial plans to grow to more than 225 advisors by the end of 2020.

49 Financial's future growth strategy calls for recruiting both industry veterans and young advisors just out of college, supporting them with comprehensive training and a wide and deep bench of experienced professionals. Among its unique characteristics is 49 Financial's commitment to the biblical reference that "two are better than one", and every client has a minimum of two advisors who work with them.

"In leaving the traditional insurance broker-dealer model, we considered going completely independent with our own RIA," explained 49 Financial CEO Travis Penfield. "But what we really wanted was to be able to do a better job of helping our clients achieve financial clarity, not to be distracted by the technical and administrative requirements of operating an RIA. We didn't know there was a better way to achieve what we wanted. But when we discovered the Thrivent Advisor Network, it was like an answer to our prayers."

As a member of Thrivent Advisor Network, 49 Financial will have access to operational support, innovative business models and premium offerings that will allow their advisors to strengthen client relationships and accelerate multi-generational growth. In addition to compliance, financing and platform services, advisors joining TAN can also take advantage of Thrivent's business development and lead generation programs, including specialized counseling from "growth coaches" for entrepreneurs with aggressive expansion plans.

TAN gives advisors the freedom to build the kinds of relationships where they and their clients are allowed to fully express their values—whether relating to faith, community or mission—in the context of investment management and financial planning. Since the launch of the Thrivent Advisor Network initiative in late 2019, approximately 130 Thrivent financial advisors have chosen to transition to this new hybrid RIA platform, bringing close to $4 billion in assets under administration with them.^* In addition, TAN is recruiting values-driven advisors from throughout the industry and has several well-established and successful teams in the transition pipeline.
⁺Forecasts of these forward-looking estimates are subject to revision.

About Thrivent Financial Network
Thrivent, a more than 100-year-old Fortune 500 company serving more than two million people, created the Thrivent Advisor Network (TAN) in response to market demand for fiduciary-driven advice that fuses finance and faith. TAN is a new hybrid RIA platform representing a unique opportunity for advisors who seek the freedom that comes from owning their own practice but still want the human connection and support that comes from being part of a community of like-minded professionals with shared values. TAN is positioned to serve as a significant partner to advisors looking to expand their capabilities, boost their brand visibility, and amplify their voice.

Certain Advisory Persons of Thrivent provide advisory services under a practice name or "doing business as" name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. 

SOURCE Thrivent Advisor Network