No commissions, no ads, no advice. This Thrivent profile draws only on public records, each linked so you can confirm it yourself.

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The short answer: is Thrivent a fiduciary?

It depends on your account: Thrivent is a fiduciary in its advisory programs, and follows the Regulation Best Interest standard as a broker. Publicly, it files with the SEC as Thrivent Investment Management (CRD #18387). According to its latest Form ADV (filed September 30, 2026), the firm reported $20.8 billion in regulatory assets under management and at least 125,755 clients across the client types it lists in Item 5.D. Its Form ADV (Item 5.E) lists how it is paid: a percentage of assets under management and fixed fees. It's all in the public filings. A few minutes is enough to confirm every line yourself.

The firm is a dual registrant, so the standard of care changes with the type of account you hold. In its advisory programs it acts as an investment adviser with a fiduciary duty. In brokerage accounts it acts as a broker-dealer under Regulation Best Interest (a best-interest obligation at the time of a recommendation, not a continuous fiduciary relationship). Our recommendation: get the account type for each Thrivent account in writing, because a household holding both kinds is working under two standards at once. Then link those accounts read-only to Truthifi so the fees on each one sit side by side. Get started with Truthifi

What "fiduciary" means: a fiduciary is legally bound to place a client's interests above its own. (More on fiduciary duty)

Thrivent at a glance

✅ Verified from public filings, last checked October 5, 2026. Thrivent (SEC CRD #18387) is a fiduciary in its advisory programs, on a fee-based basis, with $20.8 billion in regulatory assets under management. Every figure below links to its primary source.

What	Thrivent	Source
SEC CRD	#18387	IAPD
Registration	Investment adviser and broker-dealer (dual registrant)	IAPD
Registered since	May 18, 1987 (SEC)	IAPD
Fiduciary?	Yes in advisory programs, Reg BI in brokerage	SEC Reg BI
Fee model	Fee-based (commissions + advisory)	Form ADV Item 5.E (advisory); Form CRS (brokerage)
How it's paid	A percentage of assets under management and fixed fees	Form ADV Item 5.E
Regulatory Assets Under Management	$20.8 billion (Form ADV filed September 30, 2026)	IAPD
Client accounts	54,503 (26,187 discretionary)	IAPD
Employees	3,901 (2,963 in advisory roles)	IAPD
Ownership	Parent-owned	Form ADV Schedule A
Disclosures	Records carry disclosure items (common at this size). Review them directly	IAPD
HQ	Minneapolis, MN	IAPD

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Thrivent fees: what you'll pay

Thrivent fees depend on the account type: commissions in a brokerage account, an asset-based fee in an advisory program. In a brokerage account you generally pay commissions and product costs (mutual fund sales loads, markups, annuity commissions). In an advisory program you pay an asset-based advisory fee instead of per-trade commissions, plus the underlying fund expenses. The account type you're in determines what you pay. On the advisory side, look for the two methods Item 5.E names on your statement; brokerage charges are laid out in the Form CRS. Get started with Truthifi

Fee-based means cost can come from both an advisory fee and commissions, depending on the account.

Who owns Thrivent, and what conflicts does it disclose?

Thrivent is owned by Thrivent Financial Holdings, Inc., according to Schedule A of its Form ADV. (Form ADV Schedule A)

Its Form ADV Part 2A describes the firm's conflicts of interest, including how it and its advisers are paid. One detail worth pairing with ownership: the firm reports that a related person, not the firm itself, has custody of client assets (Item 9.B, covered below). If an affiliate holds your money, it's fair to ask how that affiliate is paid.

Thrivent SEC record: disclosures

Per its IAPD record, like most large firms, Thrivent's regulatory records may carry disclosure items, and at that scale the number of disclosures is not by itself a measure of wrongdoing or of the firm's quality. Disclosure counts tend to rise with headcount, so a raw tally says little about misconduct until you read what each item involves. A large firm will often show more total items than a small one because more people are registered under it. If any matter to you, read them straight from the source. Any Thrivent disclosures sit on the public record, not on anyone's characterization of them.

On the record: registered with the SEC since May 18, 1987. Notice filings in 51 jurisdictions. 3,901 employees, 2,963 of them (about 76%) in investment advisory roles. As for whether Thrivent is legit, registration is easy to confirm: it has a public CRD and public filings anyone can pull. Registration confirms it's a real, regulated adviser, but it doesn't confirm it's the right fit for you.

Reading Thrivent reviews against the public record

Star ratings and client comments describe what working with a firm felt like. They usually don't show what the firm reports to regulators. Before you weigh Thrivent reviews, line them up against three items from its filings. First, pay: a reviewer in an advisory program and one in a brokerage account were charged differently and held to different standards, so their experiences may not compare. Second, ownership and conflicts, starting with Thrivent Financial Holdings, Inc. and the Part 2A disclosures. Third, whether its Form ADV reports any disciplinary history. Read reviews alongside the record, not instead of it.

How to verify Thrivent yourself

Here's how to confirm all of it in three steps:

1. Check the SEC adviser record (IAPD): https://adviserinfo.sec.gov/firm/summary/18387.
2. Read the filings (Form ADV / Form CRS): linked from the IAPD page.
3. Confirm the entity: match Thrivent (CRD #18387, legal name THRIVENT INVESTMENT MANAGEMENT INC.) so you're reading the right firm.

What Thrivent does and who it serves

On its Form ADV, Thrivent reports providing financial planning and portfolio management for individuals and small businesses.

The form counts Thrivent's clientele three different ways, and the figures aren't meant to match. Item 5.D counts clients by type: at least 125,755 in all. Item 5.F counts the accounts inside its regulatory assets under management: 54,503. Item 5.H counts financial-planning clients in its last fiscal year: about 18,000.

Its Form ADV (2026) Item 5.D breakdown by client type:

Client type	Clients	Assets managed
Individuals	106,954	$8.89 billion
High-net-worth individuals	17,692	$11.40 billion
Pension and profit-sharing plans	Fewer than 5	$6.3 million
Corporations or other businesses	819	$373.8 million
Other	289	$97.2 million

Of the 54,503 accounts, 26,187 (about 48%) are discretionary (the firm can trade without seeking your approval first) and 28,316 are non-discretionary (Item 5.F). Its main office is in Minneapolis, MN.

What the table shows that a headline figure doesn't: high-net-worth individuals are about 14% of Thrivent's clients by count, yet they hold about 55% of the assets managed ($11.40 billion of $20.8 billion). Individuals make up about 85% of clients and hold $8.89 billion. If you sit on the larger, smaller-balance side of that book, it's reasonable to ask how service differs between the two groups. The gap between clients and managed accounts is a question too: if your relationship isn't one of those 54,503 accounts, you may be a planning or brokerage client, under a different standard.

It reports it does not itself take custody of client assets, though a related person does (Form ADV Item 9.B).

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Confirming the firm is the easy part. Seeing everything you hold is the valuable one.

Confirming Thrivent is registered takes a few minutes. No advisor, however good, sees your whole financial life by default. The held-away retirement plan, a spouse's portfolio and the costs inside a fund show up scattered and unreconciled. This is where Truthifi comes in.

How Truthifi can help

Truthifi links your accounts read-only and shows what you own, how it's allocated, how it's performing and where the risk sits, including single-stock exposure, returns next to a benchmark, a fee breakdown of the fees on each account, by type, and your Truthifi Score. You can share the accounts you choose with your advisor at Thrivent. Get started with Truthifi

Prefer your own AI? A paid Truthifi plan lets you connect an AI assistant that supports MCP sign-in, such as Claude. Truthifi Connect is the lighter membership for people who only want to use their own assistant. Questions about your fees need Monitoring or Monitoring Plus+. Get started with Truthifi · See how Truthifi keeps your accounts secure

Ask AI about your Thrivent accounts

Once your accounts are connected read-only, you can ask in plain English:

• "What do I own across my Thrivent accounts and everything else, and how is it allocated?"
• "What am I paying in fees across these accounts?"

Try it with Truthifi: start for free at app.truthifi.com and run a Monitoring Checkup (limits apply).

No commissions, no ads, no advice: Truthifi is not an investment adviser and doesn't give investment, tax or legal advice. Its access to your bank and brokerage accounts is read-only. Start free (limits apply). Monitoring Checkup is free. Link up to 10 connections, per Truthifi's published plan limits. Plans and limits are on the pricing page → truthifi.com.

One idea to carry into your next Thrivent meeting: a firm that holds two standards at once can apply both to the same family. Bring each account statement, not the reviews, and ask which standard it falls under.

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FAQ

Is Thrivent a fiduciary? It depends on your account. In its advisory programs it acts as a fiduciary. In brokerage accounts it follows the SEC's Regulation Best Interest standard. Ask which type of account you have.

What are Thrivent's fees? They depend on the account. Brokerage accounts generally pay commissions and product charges. Advisory programs charge an asset-based fee instead of per-trade commissions, plus underlying fund costs. See the Form CRS.

Who owns Thrivent? Thrivent is owned by Thrivent Financial Holdings, Inc., as listed in Schedule A of its Form ADV.

Does Thrivent have complaints or disclosures? Its regulatory records may carry disclosure items, as is common at its size. A disclosure is not proof of wrongdoing. Read any directly on BrokerCheck and the firm's Form ADV.

Is Thrivent legit? Thrivent is registered with the SEC (CRD #18387) and its filings are public on the SEC's IAPD site, which confirms it is a real, regulated firm. Registration doesn't tell you whether it's the right fit or what you'll pay, so read the fee and conflict sections of its Form ADV.

Can AI help me check whether I'm getting good value? Yes. Start free (limits apply): Monitoring Checkup is free and lets you link up to 10 connections. You can also connect an AI assistant you already use (such as Claude). On Monitoring or Monitoring Plus+ you can ask it, in plain English, about the fees on each of your accounts. Truthifi is not an investment adviser and doesn't give investment, tax or legal advice.

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About this profile

Truthifi built this profile from the firm's own SEC filings (Form ADV and, where filed, Form CRS). Every page is reviewed by the Truthifi Team before publishing. The Truthifi advisor fact packs are an ongoing series checking U.S. investment advisers against their public filings, one firm at a time.

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• What is a fiduciary?
• Fee-only financial advisor: costs and how to find one
• Are you paying too much? Why that might be the wrong question
• How to ask AI about your real investment accounts
• Robo-advisor vs. human financial advisor: which is better?
• All advisor fact packs on Truthifi

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A note on sources. The facts on this page come from publicly available documents, Thrivent's SEC and FINRA filings, each linked inline so you can verify it yourself (SEC data current as of October 5, 2026). This is general information, not financial or legal advice, and Truthifi is not affiliated with Thrivent. Regulatory records change, so always confirm against the official sources linked above. Spot something that should be corrected? Email us at support@truthifi.com.