Thrivent Financial for Lutherans
has tapped RBC Dain Corresopndent Services
to provided clearing services for its new financial consulting group, Rick Ruckdashel, head of the financial consulting group at the former, told the MutualFundWire.com. Thrivent is the merged entity of Aid Association for Lutherans and Lutheran Brotherhood.
Thrivent feels that RBC Dain will allow it greater access to retail securities technologies, products, and systems. "RBC Dain CS is one of the largest clearing firms in the nation, and its emphasis on retail sales and service will complement Thrivent Financial's strengths and competitive financial products and long-lasting member relationships. RBC Dain CS' capabilities will enable our Financial Consulting Group to become even more efficient, creative and productive in meeting the financial needs of our members," reported Ruckdashel.
The RBC Dain systems allows Thrivent's financial advisors to gain access to non-proprietary funds, especially those that fill in style gaps. Thrivent will also be able to offer a managed account program within six months.
"Through our relationship with RBC, we are partnering with three other firms for mutual fund arena: MFS
, and Franklin
," the executive explained.
Thrivent will beging training senior financial consultants next week, and it is going to be specifically marketing to that group. The firm will begin broader marketing initiatives at the end of the calendar year.
"Thrivent Financial's strong product line, coupled with additional resources through RBC Dain CS, will enable our senior financial consultants to offer best-in-class financial solutions," added Nikki Sorum, head of business development at Thrivent. "Everyone connected with the project is filled with excitement and anticipation because we see the financial consulting group as a first step toward Thrivent Financial's future. In that future, we will have even more tools to create deeper relationships with our members, and our financial associates will have a compelling reason to enhance their professional credentials and further their careers."
"We picked RBC because of their strong retail experience. Basically, every clearing firm is going to offer you the same basic package. What set RBC apart was that not only did they know the product side, they know the distribution side as well," Ruckdashel concluded.
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