Today we take a look at a company named Thrivent Funds. So, what is Thrivent Mutual funds? How does it work? What are the IRAs offered and the IRA fees? Can you store and sell back with this company? How does it compare to our #1 IRA solution? Let’s get started and find out!
Company: Thrivent Mutual Funds
Owner: Teresa J. Rasmussen ( CEO )
Who is it for: People looking to invest in an IRA.
Overall rating: [ usr 2] Not recommended
Important to mention before we go into more details of this review:
We always strongly recommend doing your research online before you choose a company to invest with. There are so many reviews online of clients being ripped off and scammed. The most common way people are getting scammed is through so-called “hidden-fees” so please investigate thoroughly before you make your decision.
With that being said, let´s continue with the review on Thrivent Mutual Funds!
The number of IRA custodians is growing every day, but that doesn’t mean they’re all good. Many of these new “companies” turn out to be awful and sometimes even a scam! Doing proper investigation is always highly recommended, even when it comes to companies that have been around for a long time. Just like the company we’ll be discussing today: Thrivent mutual funds.
What is Thrivent Mutual Funds?
Based in Minneapolis, Minnesota, and Appleton, Wisconsin, Thrivent Mutual Funds is a subsidiary company of Thrivent Financial, which is a fortune 500 company that was officially formed on January 1, 2002.
As its name implies, this company focuses primarily on providing mutual funds, but it also provides IRAs that we’ll be covering later in this review.
Thrivent Financial is a huge company with approximately 2.3 million members and 2,500 employees as of 2015.
It also has more than $134 billion in assets under management/advisement (as of 12/31/18, including Thrivent General Account, variable subaccount portfolios mutual funds and other assets )
Here’s the physical address of the company: 625 Fourth Ave South, Minneapolis, MN 55415.
After seeing the magnitude of this company, I personally expected premium services and thousands of positive reviews. But, is that really the case? Keep reading and find out!
What are the products and services offered?
Thrivent mutual funds provide several investment options for various age groups. When it comes to retirement, they do include the IRAs they offer on their website as you’ll be able to see below. An IRA is a huge commitment. The more information a custodian offers you, the better. But, this didn’t include anything about the products you invest in through your retirement account.
My conclusion from this is that this company is more targeted towards people looking to invest in mutual funds. But, IRAs aren’t their main focus and that makes them fall behind compared to competitors who offer a TON of information and solutions when it comes to retirement accounts.
Our #1 Recommended Company gives you ALL the information you need when opening an IRA account, including all the assets you can invest in, detailed fees and premium customer service!
Thrivent Mutual funds offer the following IRAs:
- Traditional IRA
- Roth IRA
- SEP IRA
Here are the minimum investments as stated on their website:
- $1,000 per mutual fund without recurring contributions, or
- $50 monthly recurring contribution for all mutual funds except for the Thrivent Money Market Fund or Thrivent Limited Maturity Bond which are $100 per month
**Want to see what IRA solution I would recommend? Click here
Here’s a screenshot of Thrivent Mutual Funds’ IRA Fees:
That’s all that I found even in the pdf files they attached. As you can see, these fees aren’t that detailed, which is definitely not good.
==> Want to take a look at our #1 recommended IRA solution instead? (waives your fees completely up to 3 years)
Can you store or sell back to this company?
There is no information on Thrivent mutual funds’ website about whether you can store or sell back to this company.
Can you get the precious metals delivered home?
This also not included on their website.
The same thing for the countries allowed, they’re not included on the site.
Ratings, Reviews, and Complaints on Thrivent Mutual Funds?
I want to start this section by sharing with you a review I found on Yelp about Thrivent’s Financial services:
This lady regretted not going through the online reviews of this company before choosing them. You definitely don’t want that to be the case for you! I can never emphasize enough the importance of the online reviews and ratings as they are a direct reflection of the experience of several customers with any company you’re thinking about.
That aside, let’s continue with the online reviews and ratings that gold retired gathers for you, as always!
Rating: A+ (1 / 5) ( out of 4 reviews ) click here to see all complaints ( opens in new window )
Rating: (1.5 / 5) click here for more details ( opens in new window )
I honestly was shocked by the number of awful reviews this company has! Apparently, the majority of people that chose them are completely unsatisfied with their service. Thrivent Financial, the mother company of Thrivent mutual funds, has more complaints than reviews on the BBB website! For me, that’s a definite sign that you should stay away from this company.
Do you Own or Represent Thrivent Mutual Funds?
If you are a representative, or associate of Thrivent Mutual Funds and have found something not to be correct in this review please, feel free to tell and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or else you got the e-mail on the about page.
Final Words and Verdict
Verdict: NOT RECOMMENDED
Overall rating: (2 / 5)
Okay, I think this sums up everything about Thrivent Mutual Funds. Just like I said above, even though this company is huge and has a lot of members, most of their clients are far from satisfied with their service.
If you’re looking to invest in an IRA you should definitely avoid this company, not only because of their extremely bad reviews but also due to the fact that IRAs are not their main focus.
This company isn’t a good choice even for people who want to invest in mutual funds!
What IRA company do we recommend?
You made a wise decision to read this review and you are a smart person. I am absolutely sure that you will find the right company that suits your particular needs the best. I would advise you to compare different alternatives against each other before you make a decision. Below you got my absolute #1 recommended IRA custodian:
That’s it for this review! I hope everything about Thrivent Mutual Funds is clear now! If you have any questions or remarks, please share them in the comments below. I’ll be more than glad to answer them. You can also share your personal experience if you have any and save someone the hassle of working with this kind of company, sharing is caring!
See you soon!
Owner of: Gold Retired.