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Thrivent Sets Up Financial Consulting Unit

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NU Online News Service, July 30, 2:12 p.m. – Thrivent Financial for Lutherans, Minneapolis, a fraternal benefit society, has agreed to use RBC Dain Correspondent Services, Minneapolis, a unit of Royal Bank of Canada, as the clearing firm for its new Financial Consulting Group.

The new Thrivent consulting unit will sell mutual funds, managed account programs and stock brokerage services from outside organizations to Thrivent’s 3 million members, Thrivent says.

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Thrivent recently began testing the consulting group concept by setting up a pilot program involving 25 financial advisors, and the company says it may eventually put half of its advisors in the unit.