Registered Investment Advisor (RIA) Transition

As Perspective Planning Partners takes the final step to join the Thrivent Advisor Network (TAN), a Registered Investment Adviser (RIA) we want clear communication about our transition.

We strongly believe that this transition will put us in a better position to serve you with greater efficiency, communication, technology, and a more robust platform for comprehensive planning and advice.

Nathan Schmidt, Cfp ®

Founding Partner, Financial Consultant

FAQ

Registered Investment Adviser (RIA) is a person or firm that is engaged in the business of providing investment advice to others and issues reports or analyses regarding securities for compensation. The Securities and Exchange Commission (SEC) requires that RIAs uphold a fiduciary duty to its advisory clients, meaning the RIA and the individuals who offer investment management and advisory services on its behalf must act in the best interests of each client while providing these advisory services. The confidence and trust placed in the RIA and the individuals serving clients is something we value and endeavor to protect.

As the first word of their title indicates, RIAs are required to register either with the Securities and Exchange Commission (SEC) or state securities administrators.

Yes, Perspective Planning Partners will be joining the Thrivent Advisor Network (TAN), a Registered Investment Adviser (RIA) and a part of Thrivent, formed in 2019. As such, our focus remains on providing our clients with financial advice that helps achieve greater financial clarity and lives full of meaning and gratitude.

Clients will be signing transition paperwork in late April and early May, and the transition to TAN will occur early June.

In the long-term, the new platform will give our practice the ability to be even more focused on providing advice-based solutions for our clients in a comprehensive financial planning capacity. We believe this change will allow us to continue to elevate our service to our clients in ways such as technology access and proactive client communication (i.e. serving you better & better!).

In the short-term, the most significant impact will be our transition from National Financial Services (NFS) to Fidelity as our custodian. Fidelity is the parent company of NFS, so while this will be an internal transition, it will involve signing paper applications, which will be pre-populated with your information and have “sign here” tabs in place to make it as simple as possible for you.

Due to the current environment we are all experiencing, we have decided to do this paperwork through phone calls and the mail. We will call clients and complete the paperwork so that all you need to do is sign and return the paperwork. Helpful items for you to have for our phone call is information on your checking account and beneficiaries. We will verify the checking account you want available for ACH payments. We will need dates of birth for you named beneficiaries.

Our investment models will not be changing with the RIA transition, so the same models you currently have in place will move to the new RIA. Any changes to our models would not be a result from the transition to the new RIA. For this reason, there is very little, if any, tax implication involved in the transition for most clients. If you have any tax implications from the transition, that will be discussed prior to any changes.

Perspective Planning Partners and the TAN will bear any of the costs associated with the transition.

While the TAN model is offering us access to expanded technology and investment solutions, it also provides us with increased efficiencies that can result in lower fees, depending on the complexity of your situation and the assets you have under management.

The key difference between TAN and Thrivent is TAN is a RIA with the ability to operate independently, offer additional financial and investment solutions and access to more technology.

We have purposely chosen to stay within Thrivent because we take pride in ensuring that our shared values are at the core of our business practices.  The platforms and systems in TAN are set up to more efficiently serve larger teams. We believe clients are better served by teams that provide specialization and bring continuity that solo advisors cannot achieve alone.

There will be some transition to new systems as we move over to industry-leading technologies and platform provided by TAN, but all of these platforms are extremely intuitive and user-friendly. We will provide additional information to you based on your specific product platform.

As a practice, we have been growing and expanding our ability to serve our clients for some time. This transition positions us to serve you at a higher level. Our priority continues to operate with the same Christian values and to continue to focus on improving the lives of our clients.

Disclosure: Prior to the transition to Thrivent Advisor Network (TAN), securities and investment advisory services offered through Thrivent Investment Management Inc., a registered investment adviser, member FINRA and SIPC, and a subsidiary of Thrivent. After transition to TAN, services will be offered through a new broker/dealer arrangement.

Click here information regarding transition to the Thrivent Advisor Network