Wealth & Finance International - January 2017

Wealth & Finance International 12 Strength Through Unity or more than a century Thrivent helped its nearly 2.4 million member-owners make wise money choices that reflect their values. This is achieved through offering a broad range of products and services, including life insurance, annuities and mutual funds, along with guidance from financial rep- resentatives nationwide. These products help clients to grow assets, prepare for retirement and stay protected. Uniquely, the firm is a creative form of non-profit known as a fraternal benefit society. By definition, a fraternal benefit society is a not-for-profit organisation that provides insurance to its members and has to carry out social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic or religious purposes for the benefit of its members and the public. This combination of charity work and financial services makes the firm truly unique. Another key differentiator is that the firm have to operate under the lodge system, which means a member of the “society” is a member of a local group of the society (which is self-governing). Other unique aspects include the fact that fraternal benefit societies have representa- tive governments (local and national boards elected by members), and members share a common bond that can be religious, ethnic, vocation- al or another common bond. Therefore, with this individual focus and collective mind-set, client’s individual needs, aims and objectives are all taken into account when Thrivent start working with new clients. The firm have more than 2,300 financial representatives in all 50 states who can help clients ascertain what is most importance. They each work out of a regional financial office (RFO) located close to the client and apply their local knowledge and vast experience to understand the clients’ needs. As they begin to understand their financial situation, they will partner the client with a local Thrivent Financial team or RFO. Together, they will determine the financial solutions, products and services that are right for them, ensur- ing that the client makes the very most out of their money. In addition, the firm offers the Thrivent Financial Guidance Team®, a unique unit that ensures clients get one-on-one support from licensed financial representatives. This dedicated team offers a variety of prod- ucts and services including annuities, life insurance and mutual funds. They will work with clients to address questions, provide guidance and, if needed, connect them with a local Thrivent Financial representative. For clients who are looking for technological, remote access to their accounts and information MyThrivent acts as the ideal resource. This innovative solution allows users to conveniently view and manage their Thrivent accounts online 24 hours a day. MyThrivent gives them secure access to their insurance, individual mutual fund, annuity and broker- age accounts. In addition, clients can also find local member (chapter) information, designate Choice Dollars® and get additional financial resources. This innovative approach saw the firm improve its yearly dividend and as such, in 2017, solid business fundamentals, including rigorous ex- pense management, strong investment practices and careful underwrit- ing of new business, contributed to the creation of surplus to allow the organisation to distribute back to the members who have contributed to its success. As such eligible members of will receive an estimated $319 million in dividends in 2017. This figure represents a 2% increase from last year’s dividend distribution of approximately $312 million. Ultimately, the financial solutions Thrivent offer and its community involvement both drive toward the same goal; the success of its mem- bers, their families and their communities. As such looking to the future this will remain the firm’s ongoing focus as it seeks to build upon this success and support even more members. Company: Thrivent Financial Address: 625 Fourth Ave. S., Minneapolis, MN, 55415-1624 USA Phone: 800-847-4836 Fax: 800-225-2264 Website: https://www.thrivent.com/ Thrivent Financial is a not-for-profit membership financial organisation that helps Christians be wise with money and live generously. We profile the firm, who were recently awarded Stock Broker of the Year 2016, and explore the innovative range of services it offers. F 1612WF27 “Uniquely, the firm is a creative form of non-profit known as a fraternal benefit society.”