SEC-registered wealth management firm Broker-dealer affiliated
Thrivent Investment Management Inc.
As of its Form ADV filed September 30, 2026, Thrivent Investment Management Inc., an SEC-registered, broker-dealer affiliated wealth management firm in Minneapolis, Minnesota, reported $20.8 billion in regulatory assets under management across 54,503 accounts, ranking #3 among all wealth firms in Minnesota by assets.
Registration
- Main office
- Minneapolis, MN
- Registration
- SEC-registered, Approved
- CRD number
- 18387
- SEC file number
- 801-29618
- Registered since
- May 18, 1987
- Latest Form ADV filing
- September 30, 2026
- Organized as
- Corporation
- Fiscal year ends
- December
- Other offices
- 1,226
Key figures
- Regulatory assets under management
- $20.8 billion
- Discretionary
- $9.5 billion (45.6%)
- Non-discretionary
- $11.3 billion
- Accounts
- 54,503 (26,187 discretionary)
- Clients
- 209,854, approximate as reported
- Employees
- 3,901
- Advisory staff
- 2,963 performing investment advisory functions
- Average account
- $381,078
- Asset growth, 1 year
- 18.7% (from $17.5 billion a year earlier)
- Asset growth, 3-year annual rate
- 18.5% (from $12.5 billion three years earlier)
- Asset growth, 5-year annual rate
- 14.2% (from $10.7 billion five years earlier)
- Client growth, 1 year
- 47.0% (from 142,759)
Broker-dealer affiliated. The firm is itself a broker-dealer as well as an investment adviser (Form ADV Item 6.A(1)). It is ranked among all wealth firms, the directory's view that includes wirehouses and broker-dealer firms, not in the main lists of independent RIAs. How firms are classed.
Growth rates come from the SEC's yearly snapshots and are left blank when the years are not comparable.
Rankings
Among all wealth firms, including wirehouses and broker-dealer firms.
Assets over time
Data table
| As of | RAUM |
|---|---|
| October 1, 2010 | $4.2 billion |
| October 3, 2011 | $4.9 billion |
| October 1, 2012 | $4.8 billion |
| October 1, 2013 | $5.5 billion |
| October 1, 2014 | $6.8 billion |
| October 1, 2015 | $7.7 billion |
| October 3, 2016 | $8.0 billion |
| October 2, 2017 | $8.7 billion |
| October 1, 2018 | $10.9 billion |
| October 1, 2019 | $11.4 billion |
| October 1, 2020 | $11.3 billion |
| October 4, 2021 | $10.7 billion |
| October 3, 2022 | $13.5 billion |
| October 5, 2023 | $12.5 billion |
| October 1, 2024 | $14.8 billion |
| September 2, 2025 | $17.5 billion |
| October 2, 2026 | $20.8 billion |
Clients and services
Client mix
| Measure | Bar | RAUM |
|---|---|---|
| High net worth individuals 17,692 clients | $11.4 billion | |
| Individuals (other than high net worth) 106,954 clients | $8.9 billion | |
| Corporations or other businesses 819 clients | $373.8 million | |
| Other 289 clients | $97.2 million | |
| Pension and profit sharing plans fewer than 5 clients | $6.3 million | |
| Banking or thrift institutions fewer than 5 clients | $0 | |
| Charitable organizations fewer than 5 clients | $0 | |
| State or municipal government entities fewer than 5 clients | $0 | |
| Other investment advisers fewer than 5 clients | $0 | |
| Insurance companies fewer than 5 clients | $0 | |
| Sovereign wealth funds and foreign official institutions fewer than 5 clients | $0 |
How the firm is paid
- A percentage of assets under management
- Fixed fees
Advisory services
- Financial planning
- Portfolio management for individuals or small businesses
Financial planning clients (Item 5.H): 18000.
Wrap fee program sponsor or portfolio manager: yes.
Other business, affiliations and custody
Other business activities (Item 6.A)
- Broker-dealer
Financial industry affiliations (Item 7.A)
- Broker-dealer
- Other investment adviser
- Commodity pool operator or commodity trading advisor
- Banking or thrift institution
- Trust company
- Insurance company or agency
- Sponsor, general partner or managing member of pooled investment vehicles
Custody (Item 9)
The firm reported no custody of client cash or securities.
Investment adviser representatives
- IARs registered with the firm
- 3,186
- Also registered through a broker-dealer
- 3,185
- Employees who are IARs (Form ADV 5.B(3))
- 3,097
Designations held by the firm's IARs: CFP 55, ChFC 48, CFA 2.
Between 653 and 3,090 of the firm's 3,186 IARs are registered in jurisdictions that require IAR CE. The source counts registrations by jurisdiction, and many IARs are registered in more than one, so the exact number is not knowable from it. IAR CE requirements by state.
Counts only. AdvisorIQ does not list individual people.
Disclosures
On Form ADV Item 11 the firm answered yes to 10 disclosure questions. See the detail on IAPD.
Succession and acquired firms
On Form ADV Item 4 the firm did not report succeeding to another adviser's business.
Similar-sized firms in Minnesota
| Firm | City | RAUM |
|---|---|---|
| Cliftonlarsonallen Wealth Advisors, LLC | Minneapolis | $14.4 billion |
| Northrock Partners, LLC | Minneapolis | $12.2 billion |
| Fiduciary Counselling Inc | St. Paul | $10.1 billion |
| Thrivent Advisor Network, LLC | Minneapolis | $6.8 billion |
| Focus Financial | Minneapolis | $6.8 billion |
The five wealth firms, broker-dealer affiliated firms included, nearest in regulatory assets with a main office in the same state.
Elsewhere
- Thrivent Investment Management Inc. on IAPD: Form ADV, brochures and disclosure detail.
- Firm website: www.thrivent.com
- Wealth management firms in Minnesota
Firm data as of October 2, 2026, from ia100226.zip. Figures are as the firm reported them; corrections are made on Form ADV and appear after the next monthly reload.
Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.