FAQs: TIMI Broker-Dealer Update

Why the change?

For those of you who have been with our team prior to June 2020, this may sound familiar. In the summer of 2020, our team made the decision to move from TIMI to PKS. We made this change in 2020 because we wanted to honor your trust and act as a true fiduciary.

Since 2020, TIMI has enhanced their capabilities to better compete with national broker-dealers like PKS. We are excited to transition back to TIMI based on our strong values alignment and long-standing history. 

This change is far less robust in nature compared to 2020 since your managed accounts at Fidelity are not affected.


I thought you were already associated with Thrivent?

We are! Just not in the capacity of a broker-dealer.

There are two sides to Parable:

  • The first is the registered investment adviser (RIA) side through which we offer managed accounts and financial planning services. Thrivent Advisor Network (TAN) is our registered investment adviser (RIA), a wholly owned subsidiary of Thrivent.
  • The second is the broker-dealer side through which we offer Variable annuities, Variable universal life policies, 529 accounts, etc. Purshe Kaplan Sterling Investments (PKS) is our current broker-dealer. We are changing our broker-dealer to Thrivent Investment Management Inc. (TIMI).

Thrivent is also a carrier of solutions like annuities and life insurance like Lincoln Financial, Jackson National, Prudential, etc. We have always utilized Thrivent solutions as options for our clients, even while being associated with PKS.

Which of my accounts are involved in the change?

The following types of accounts will be involved in this change:

  • Variable annuities
  • Variable universal life policies
  • 529 accounts
  • Direct held mutual funds (those not in a brokerage account)
  • Commissionable brokerage accounts (not managed brokerage accounts at Fidelity)

The following types of accounts will not be involved in this change:

  • Managed accounts at Fidelity
  • Fixed annuities
  • Whole life policies
  • Term life policies
  • Long-term care policies
  • Financial Planning relationships

Are my Fidelity accounts involved in this change?

No, this change will not affect your Fidelity accounts.

Will my account numbers change?

No, your account numbers will stay the same.

Will I still access my accounts online the same?

Yes, you will still access your accounts online the same. You shouldn’t notice a difference in your experience viewing your accounts.

Are there tax consequences associated with this change?

No, this change is not reportable.

Will I receive paper or DocuSign Forms?

Forms for the following carriers will be sent via DocuSign and require an electronic signature:

  • Thrivent
  • Jackson

Forms for the following carriers will be sent via mail and require an ink signature:

  • NEST
  • Lincoln
  • Invesco
  • Nationwide
  • Prudential
  • AXA Equitable
  • American Funds

What will the DocuSign email look like?

The DocuSign form will come from Thrivent and reference “Signature Request: Change in Registration to TIMI” in the subject line.

Here’s an example of what the email will look like so you know what to expect:

When will I receive forms?

Thrivent will start sending forms on June 17th.

We aim to have the forms signed and returned prior to July 31st.

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DISCLOSURES

© 2020 PARABLE WEALTH PARTNERS. ALL RIGHTS RESERVED.

Parable Wealth Partners is proud to be an independent practice of Thrivent, a not-for-profit membership organization of Christians that has helped millions of people achieve financial clarity and live lives full of meaning and gratitude. 

 

Investment advisory services offered through Thrivent Advisor Network, LLC., (herein referred to as “TAN”), a registered investment adviser. Clients will separately engage an unaffiliated broker-dealer or custodian to safeguard their investment advisory assets. Review the Thrivent Advisor Network Financial Planning and Consulting Services, Investment Management Services (Non-Wrap) and Wrap-Fee Program brochures (Form ADV Part 2A and 2A Appendix 1 brochures) for a full description of services, fees and expenses, available at Thriventadvisornetwork.com. Thrivent Advisor Network, LLC financial advisors may also be registered representatives of a broker-dealer to offer securities products. Visit Investment Adviser Public Disclosures or FINRA’s Broker Check for more information about our Advisory Persons.

Advisory Persons of TAN provide advisory services under a “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. 

Securities offered through Thrivent Investment Management Inc. (“TIMI”), member FINRA and SIPC, and a subsidiary of Thrivent, the marketing name for Thrivent Financial for Lutherans. Thrivent.com/disclosures. TIMI and Parable Wealth Partners are not affiliated companies