Contributor: Andrew Walker
Trust + Transparency + Simplicity
These are core values that you’ve come to know and expect for us.
Recently you received a lengthy document outlining key updates to Thrivent Advisor Network’s Investment Adviser Registration, or more commonly known as the Form ADV. The Form ADV is a manifestation of this transparency – but here’s what you need to know:
What is a Form ADV?
In short, a Form ADV is an official document to register as an investment adviser firm. This document is required by the United States Securities and Exchange Commission (SEC) and is a disclosure outlining the investment adviser’s business, ownership, clients, employees, business practices, affiliations, and any disciplinary events of the adviser or its employees.
We agree that these details are important, which is why the SEC requires for clients to have them literal black and white – and why we discuss services, fees, and compensation in your review meetings.
How many Form ADVs will I receive?
Form ADVs are updated and distributed by the Thrivent Advisor Network annually, or when material changes are made.
The Form ADV was first delivered when we migrated to the Thrivent Advisor Network in August 2020.
Key reminder: Non-Wrap Fees
Fiduciary responsibility – or putting your needs first and foremost – was the leading prompt for us to transition to an RIA under Thrivent Advisor Network.
An important differentiator is that we moved to non-wrap fees. This allows us to show complete transparency into fees charged.
What do I actually need to know?
- Fees haven’t changed.
- We place trades in a way that is equitable across all client accounts.
- Parable may be compensated through referrals or other revenue sources.
- Parable has the ability to manage investment accounts using our expert discretion.
- Any potential trade errors made will be rectified such that Parable will bear the cost of any corrective action.
- We cannot serve as investment advisors on assets not held at Parable.
Is there any action required on my part?
No action is required on your part. The letter sent to you provides transparency into the changes and is informational in nature.
I want to read the whole document – what is relevant to me?
- The WRAP Fee section does not apply.
- The Non-WRAP Fee section is relevant for clients receiving Investment Management Services.
- The Financial Planning Services section is relevant for clients engaged in a Financial Plan agreement.
Thank you for your feedback. Please feel free to review the letter and ask questions as you have them.
We are grateful for your trust and confidence in our team.Parable Wealth Partners
Advisory Persons of Thrivent provide advisory services under a practice name or “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Parable Wealth Partners and Thrivent Advisor Network, LLC are not affiliated companies. Information in this message is for the intended recipient[s] only. Please visit our website parablewealth.com for important disclosures.
This website is intended to provide general information about Parable Wealth Partners and its services. It is not intended to offer or deliver investment advice in any way. Information regarding investment services are provided solely to gain an understanding of our investment philosophy, our strategies and to be able to contact us for further information.
We will provide all prospective clients with a copy of our current Form ADV, Part 2A (“Disclosure Brochure”) and the Brochure Supplement for each advisory person supporting a particular client. You may obtain a copy of these disclosures on the SEC website at http://adviserinfo.sec.gov or you may Contact us at firstname.lastname@example.org to request a free copy via .pdf or hardcopy.
SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.
The Securities and Exchange Commission (SEC) requires that registered investment advisers uphold a fiduciary duty to its advisory clients, meaning when providing advisory services, the adviser and its representatives must act in the best interests of each client and make full and fair disclosure of conflicts of interests.