Thrivent Investment Management Inc (“Thrivent Investment Management“) (CRD#18387) has faced numerous regulatory violations and customer complaints filed by FINRA and state regulatory organizations. If you lost money at Thrivent Investment Management, you may be able to recover your losses through FINRA arbitration.
At the Law Offices of Robert Wayne Pearce, we have investigated Thrivent Investment Management’s regulatory violations and customer complaints. We represent investors with claims of fraud, negligence, and breach of fiduciary duty against firms like Thrivent Investment Management. Even if you signed an arbitration agreement, you can still pursue claims to recover your investment losses.
The firm’s pattern of supervisory failures suggests systemic problems rather than isolated incidents. Between 2017-2024, 15 brokers electronically signed at least 120 client names on more than 260 documents without proper authorization—violations that went undetected for years because Thrivent failed to establish adequate supervisory systems.
Don’t wait to protect your rights. Securities claims have strict time limits, and waiting can jeopardize your ability to recover losses.
Can I Sue Thrivent Investment Management?
Yes, you can sue Thrivent Investment Management if you have suffered financial losses caused by the firm or its employees’ misconduct. However, most clients of Thrivent Investment Management have signed agreements that waive the right to file a lawsuit in court and instead require disputes to be resolved through FINRA arbitration.
How to Sue Thrivent Investment Management for Investment Losses
What Can I Do If I Lost Money at Thrivent Investment Management?
If you lost money at Thrivent Investment Management, you can file a claim through FINRA arbitration—the legal process designed specifically for resolving investor disputes with brokerage firms. FINRA arbitration allows you to pursue compensation even if you signed an arbitration clause in your account agreement.
The process works differently than a traditional lawsuit because arbitration cases are heard by a panel of arbitrators rather than a judge and jury. This specialized forum was created to handle investment disputes efficiently while protecting investors’ rights to seek recovery.
Thrivent’s documented regulatory failures provide a foundation for investor claims. The firm received a $325,000 FINRA fine in May 2024 for failing to establish supervisory systems to detect signature forgery and falsification. Additionally, the SEC censured Thrivent and fined it $25,000 in October 2024 for failing to comply with Regulation Best Interest when recommending mutual fund shares.
These violations directly affected investors because Thrivent’s brokers recommended Class A mutual fund shares in 529 education savings plans without considering whether lower-cost Class C shares were more suitable. This resulted in $220,000 in restitution payments to 846 affected clients—but many more investors may have suffered undiscovered losses.
The firm also failed to apply breakpoint discounts and sales charge waivers to eligible customers, causing investors to pay unnecessarily high fees. Previous sanctions include fines for inadequate supervision of private securities transactions and failure to deliver mutual fund trade confirmations to customers.
Who Can Help Me Sue Thrivent Investment Management?
Working with experienced investment fraud attorneys is essential because these cases require specialized knowledge of securities law, FINRA rules, and arbitration procedures. The Law Offices of Robert Wayne Pearce has handled Thrivent Investment Management cases and understands the specific types of misconduct this firm’s brokers have committed.
Our firm investigates whether Thrivent’s supervisory failures, unsuitable recommendations, or fee overcharges caused your losses. We handle all aspects of the arbitration process—from filing the claim to presenting evidence before the arbitration panel.
What is Thrivent Investment Management?
Thrivent Investment Management(CRD#18387) is a registered broker-dealer that operates as a full-service independent broker-dealer, providing a range of financial products and services to individual investors and financial advisors.
As a registered broker-dealer, Thrivent Investment Management is subject to regulations and oversight by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The firm is required to comply with industry standards and regulations to ensure the protection of its clients’ interests.
A failure to comply with industry standards by either its brokers or the firm itself can result in disciplinary actions, fines, or other penalties imposed by regulatory authorities. Thrivent Investment Management’s regulatory record demonstrates a pattern of such failures.
Thrivent Investment Management In Trouble – Latest News
Yes, Thrivent Investment Management is experiencing notable problems. The firm has been hit with multiple regulatory actions and fines in 2024, including a $325,000 FINRA fine in May 2024 for failing to establish and maintain a system of supervision reasonably designed to detect signature forgery and falsification.
Additionally, the SEC censured the firm and fined it $25,000 in October 2024 for failure to comply with Regulation Best Interest regarding mutual fund share recommendations. These regulatory issues appear to be systemic rather than isolated incidents.
Between 2017-2024, 15 brokers from the firm electronically signed at least 120 client names on more than 260 documents without proper authorization. These violations went undetected for years due to inadequate supervisory systems.
Why Does Thrivent Investment Management Have So Many Bad Reviews and Customer Complaints?
Independent broker-dealers like Thrivent Investment Management often struggle with supervision because of their business structure. These firms operate through a franchise-type model where financial advisors work as separate businesses rather than employees.
The typical setup involves having other independent contractors run remote supervisory offices to monitor representatives. These supervisors aren’t full-time employees of the main firm and often run their own businesses on the side. This means they can’t watch over daily operations the way an on-site manager could.
Without immediate oversight, there’s often no daily review of new accounts, securities transactions, or client communications. Nobody is there to catch forged signatures, misleading statements, or unsuitable investment recommendations before they harm investors.
This lax supervision creates an environment where sales representatives can sell securities that haven’t been properly reviewed by anyone other than themselves—the person earning a commission. The North American Securities Administrators Association (NASAA) has documented more instances of sales abuse and investor losses at these independent firms than at traditional brokerages with on-site managers.
Thrivent Investment Management Has Many Different Regulatory Problems
Thrivent Investment Management’s rapid growth has come with significant compliance failures. There have been approximately 6 state and self-regulatory body disclosure events—formal proceedings initiated by regulatory authorities like the SEC, FINRA, and the North American Securities Administrators Association (NASAA) for violations of investment-related rules or regulations.
In addition, there have been customer complaints about Thrivent Investment Management for misconduct by its securities sales and investment advisory representatives that are not reported by the firm on its Central Depository Record.
A Brief Overview of Some of the Complaints and Regulatory Problems Thrivent Investment Management Has Faced Over the Years
Thrivent Investment Management has been repeatedly censured, warned, and fined for its own misconduct and failure to supervise its financial advisors. A few of the notable FINRA Sanctions for its Supervisory Failures are below:
FINRA Censures Thrivent Investment Management for Failure to Apply Breakpoint Discounts to Eligible Customer Accounts
Brief Overview: Without admitting or denying the findings, Thrivent Investment Management consented to the sanctions and to the entry of FINRA findings that it failed to place eligible customers into the most advantageous mutual fund share classes to ensure that they received the benefits of available breakpoint discounts. Specifically, FINRA stated that the firm failed to establish, maintain, and enforce a supervisory system reasonably designed to ensure that Class A shares held by certain institutional account customers were timely converted to Class I shares. FINRA further stated that many mutual funds waive the up-front sales charges associated with Class A shares, Class I shares, Class S shares, and Class R shares for certain retirement plans, institutions, and/or charitable organizations. Some of the mutual funds available on the firm’s retail platform offered such waivers and disclosed those waivers in their prospectuses. Still, the firm failed to apply the waivers to mutual fund purchases made by eligible customers and instead sold Class A shares with a front-end sales charge or Class B or C shares with back-end sales charges and higher ongoing fees and expenses. As a result of the above-described allegations, the firm was censured.
FINRA Censures and Fines Thrivent Investment Management for Failure to Deliver Mutual Fund Trade Confirmations to Customers
Brief Overview: Without admitting or denying the findings, Thrivent Investment Management consented to the sanctions and to the entry of FINRA findings that the firm failed to deliver thousands of trade confirmations of certain categories of mutual fund transactions to customers due to coding established through an outside vendor to generate and send customer’s confirmations. FINRA stated the firm internally investigated and discovered the causes of the delivery of confirmation failures and reported these failures to FINRA. FINRA further stated an independent consultant retained by the firm determined that the coding errors in the computerized system affected certain categories of the firm’s mutual fund transactions during the approximate nine-year time period, and that the firm failed to deliver customer confirmations for 454,426 transactions, with an aggregate value of $3,324,753,206 in 207,468 mutual fund positions held by 131,194 customers. As a result of the findings, the firm was censured and fined $375,000.
NASD Fines Thrivent Investment Management for Failure to Supervise Private Securities Transactions by Employee
Brief Overview: The NASD initiated an investigation into Thrivent Investment Management that led to an acceptance, waiver, and consent with the regulator following allegations that the firm failed to establish, maintain, and enforce written supervisory procedures designed to prevent or detect a registered representative’s participation in a private securities transaction. According to the NASD, the employee purchased or procured stock for his or her own personal benefit. As a result of the above-described findings, Thrivent Investment Management paid a fine.
State of Missouri Securities Division Fines Thrivent Investment Management for Failure to Disclose Customer Complaint Against Agent
Brief Overview: The State of Missouri Securities Division initiated an investigation into Thrivent Investment Management that revealed that a registration application for one of its agents failed to disclose a prior customer complaint against the agent and did not file a correcting amendment of the agent’s Form U4 within the required thirty-day period. The firm neither admitted nor denied the allegations made or the findings of fact or conclusions of law but entered into a consent order. As a result, the firm was fined.
State of Illinois Securities Department Fines Thrivent Wealth Management for Failure to Maintain Books and Records
Brief Overview: The State of Illinois Securities Department initiated an investigation into Thrivent Investment Management that revealed the firm failed to maintain appropriate books-and-records in violation of the Illinois Securities Act. According to the Department, the firm’s violation related to certain instances in which firm representatives and supervisors failed to make appropriate documentation regarding the suitability of certain variable annuity replacement transactions. The firm neither admitted nor denied the findings of fact or conclusions of law but acknowledged that the consent order could be entered. As a result, the firm was fined $400,000.
How to File an Official Complaint Against Thrivent Investment Management or one of its Brokers, with FINRA
File an official complaint against Thrivent Investment Management or its brokers with FINRA by working with experienced investment fraud attorneys. The Law Offices of Robert Wayne Pearce has investigated Thrivent’s repeated regulatory violations, including FINRA fines, SEC censures, and client complaints for forgery, negligence, and failure to act in clients’ best interests. Investors harmed by these violations may be entitled to compensation through FINRA arbitration.
These cases can be extremely complex, and so having the support of a reputable attorney who is experienced in recovering investment losses for investors is key to your success. Many customers make the mistake of contacting Thrivent Investment Management without representation with an attorney about their complaints and have their complaints denied.
Related Read: Can You Sue Your Brokerage Firm?
How The Law Offices of Robert Wayne Pearce, P.A. Can Help You Recover Losses at Thrivent Investment Management
Our firm assists investors in navigating every step of the FINRA arbitration process—from investigating your claim to gathering evidence of broker misconduct to presenting your case before an arbitration panel. We understand the specific compliance failures and supervisory lapses that have plagued Thrivent Investment Management.
With over 45 years of experience in securities arbitration and more than $175 million recovered for investors, Attorney Robert Wayne Pearce knows how to build compelling cases against firms that fail to protect their clients. We offer a free consultation to evaluate your potential claim and explain your legal options.
Our firm works on a contingency basis for investor claims, which means you don’t pay attorney fees unless we recover money for you. This allows you to pursue justice without upfront costs.
Did Thrivent Investment Management Advisor Misconduct Cause Your Investment Losses?
If you experienced losses at Thrivent Investment Management, the firm’s documented pattern of supervisory failures and regulatory violations suggests that broker misconduct may have played a role. Common types of misconduct at firms like Thrivent include unsuitable investment recommendations, excessive trading (churning), unauthorized transactions, and failure to disclose conflicts of interest.
Thrivent’s regulatory history reveals specific problems that directly harmed investors: brokers forging client signatures, recommending higher-cost mutual fund shares when lower-cost options were available, and failing to apply fee discounts that clients were entitled to receive. The firm’s inadequate supervision allowed these violations to continue for years.
If your Thrivent advisor recommended investments that seemed unsuitable for your financial situation, if you noticed unexplained transactions in your account, or if you were charged excessive fees, you may have grounds for a claim. Our firm can investigate whether your advisor’s actions violated securities regulations or FINRA rules.
Time limits apply to filing securities claims, so it’s important to act promptly. The longer you wait, the harder it becomes to gather evidence and pursue recovery.
Consult With An Attorney Who Recovers Investment Losses Caused By Thrivent Investment Management Today
The investment loss attorneys at The Law Offices of Robert Wayne Pearce, P.A., have helped countless investors over the last 45 years recover the losses from their investment accounts that were caused by broker negligence or misconduct. The firm has extensive experience with Thrivent Investment Management cases, and Attorney Pearce is committed to seeing that those responsible for the losses you have suffered are held fully accountable.
If you’re dealing with an unethical brokerage, contact the Law Offices of Robert Wayne Pearce. We fight for clients nationwide as well as in Minnesota, North Carolina, and Arizona.
Give us a call at 800-732-2889. Let’s discuss your case and see what we can do to help you get the compensation you need and deserve.
