Thrivent “glorified pyramid scheme”, Former rep review, “An Endless Game of Who do you Know” , “you are creating a negative image for yourself and becoming a multi level marketing company”
A former Financial Representative employee provides a review of Thrivent:
“I worked at Thrivent full-time for more than a year”
Cons
“Corporate leaders are out of touch and rarely helpful, but push advisors to attend corporate meetings.”
“All advisors are pushed to sell annuities and life insurance over any other financial planning tool.”
“You will feel that your plans must include variable annuities or life insurance. You will find yourself feeling pressured to sell annuities for the wrong reasons.”
“Advice to Management
Figure out what type of organization you want to provide. If you want to be a full service financial planning institution, hire people that show competency as financial planners. Stop hiring advisors because of their pre-existing networks. This may work well for a while, but you are creating a negative image for yourself and becoming a multi level marketing company. Get rid of “community engagement” all together and increase advisors commissions, or hire these people with large networks and no financial services experience as community engagement leaders. Develop leads through these community engagement leaders and send the leads to the advisors that earned their position because of their experience, not because of who they know.”
