After a long few months, mountains of paperwork, and many emails, we have finally made our transition to Registered Investment Advisor (RIA)! We thank all of our clients for their patience as we navigated our way to the new space. We couldn’t have done it without you!
Here are a few things to keep in mind moving forward:
- Some Thrivent products will remain at Thrivent and will not transfer. You can see these as you had before at Thrivent.com.
- Some accounts, typically for tax purposes, were sent to National Financial Services. You can login to see these accounts at www.wealthscapeinvestor.com.
- If you have not done so already, creating a Schwab log-in is incredibly beneficial. You may do so by visiting www.schwab.com, selecting “log-in” and “new user.”
- We are planning to open our Black Diamond client portal by November 1st. We will send out log-in information as well as post it here closer to that time. This portal will aggregate all accounts into one place.
- Please monitor any periodic contributions or distributions of your accounts these next few months and contact us if there is an issue
We thank you for the opportunity to be your advocates in financial planning. We are so excited to start our journey in this new space with you.
Transition to a Registered Investment Adviser (RIA)
5280 Associates has transitioned to Thrivent Advisor Network (TAN) Registered Investment Adviser (RIA). This platform grants us more freedom to serve you even better. We anticipate this change may bring about questions, so we developed a list of frequently asked questions:
What is a Registered Investment Adviser (RIA)?
A Registered Investment Adviser (RIA) is a person or firm that is engaged in the business of providing advice to others and issues reports or analyses regarding securities for compensation. The Securities and Exchange Commission (SEC) requires that RIAs uphold a fiduciary duty to its advisory clients, meaning the RIA and the individuals who offer investment management and advisory services on its behalf must act in the best interests of each client while providing these advisory services. The confidence and trust placed in the RIA and the individuals serving clients are something we value and endeavor to protect. As the first word of their title indicates, RIAs are required to register either with the Securities and Exchange Commission (SEC) or state securities administrators.
Will 5280 Associates still be a part of Thrivent?
5280 Associates will be joining the Thrivent Advisor Network (TAN) a registered investment adviser (RIA) and a part of Thrivent, formed in 2019. We have chosen Charles Schwab as our custodian. Charles Schwab was named #1 Broker Overall in 2019 by Business Daily. They are also ranked #1 in customer service, and trade reliability*.
*For more information, see www.schwab.com/awards
What does this change mean for me?
In the long term, the new platform will give our practice the ability to be even more focused on providing advice-based solutions for our clients in a comprehensive financial planning capacity. We believe that this change will allow us to continue to elevate our service to our clients in ways such as technology access and proactive client communication.
In the short term, the most significant impact will be our custodial transition to Charles Schwab. The transition will involve signing paper applications, which will be pre-populated with your information and have “sign here” tabs in place to make the process for you as simple as possible. We will coordinate with local clients to have the paperwork signed in one of our offices. Our out-of-town clients will have paperwork overnighted.
Why is 5280 Associates transitioning to an RIA platform?
5280 strives to bring an unprecedented wealth management experience to Colorado’s Front Range by meeting the needs of our clients now, and in the future. In order to become a better advocate for you, 5280 is transitioning to a RIA platform. This platform will grant us more freedom in order to better serve you.
Will 5280 Associates still manage investments on the new RIA Platform?
Our investment models will not be changing with the RIA transition. In some cases, it may be better to invest in platforms available with lower costs to you. If this is the case, we will be recommending you make a change in your investment strategy to something more beneficial to you.
Disclosure: Prior to the transition to Thrivent Advisor Network (TAN), securities and investment advisory services offered through Thrivent Investment Management Inc., a registered investment adviser, member FINRA and SIPC, and a subsidiary of Thrivent. After transition to TAN, services will be offered through a new broker/dealer arrangement.