Thrivent, a Minneapolis-based financial services firm with $193 billion in client assets, is planning a major hiring push in 2025, with plans to add 600 new financial advisors across its employee and independent advisor channels.
The firm is already on track to meet the goal this year, said Nick Cecere, Thrivent’s chief distribution officer. Many of the recruits are new to the advisor space, and will get training and mentorship by joining Thrivent’s employee channel or an affiliated team. Either way, Cecere said the demand is there for staffing beyond the firm’s current base of about 3,200 client-facing advisors.
“The war on talent isn’t coming, it’s already here in terms of our industry,” he said. “We’re leading the pack in terms of hiring good, talented people to join the ranks of the being a financial advisor.”
Cecere said the firm’s advisor base has been growing at a 2% rate this year after ending 2024 up 4%. Thrivent’s investment in hiring new advisors is, he said, a response to two trends in the space: an aging workforce and a growing demand for “purpose-based” financial advice.
“We are equally positioned not only attract, but retain advisors through our value-driven culture,” he said. “We have really strong, best-in-class support. And that’s really important when you are bringing on advisors who are new to the industry.”
The announcement comes as the advisor industry is in constant discussion around its aging workforce and lack of a robust pipeline for new advisors. Earlier this year, consultancy McKinsey forecast a shortfall of 100,000 advisors for the demand by 2034.
Cecere said the firm sees hiring opportunities both in established regions where advisors may be retiring, and building out in places where it hasn’t had a large presence, including serving “more diverse communities.” Its five regional hubs of focus are Denver, Atlanta, Minneapolis, Milwaukee and Dallas.
Thrivent sees new advisors coming from various backgrounds, ranging from other financial services jobs to second-generation advisors to graduates with financial degrees or the CFP designation.
Cecere also pointed to its mission-driven focus as a draw for younger employees. In 2024, the firm donated $331 million to communities in the U.S. in efforts that Cecere said are often led by its financial advisors.
#Thrivent #Plans #Add #Financial #Advisors