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BBB Accredited Business since 12/20/2013

Thrivent Financial for Lutherans Foundation

View Additional Phone Numbers625 4th Ave S, MinneapolisMN 55415-1665 Send email to Thrivent Financial for Lutherans Foundation

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BBB Accreditation

A BBB Accredited Business since 12/20/2013

BBB has determined that Thrivent Financial for Lutherans Foundation meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 16 factors. Get the details about the factors considered.

Factors that raised Thrivent Financial for Lutherans Foundation's rating include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 2 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.
  • BBB has sufficient background information on this business.

Customer Complaints SummaryRead complaint details

2 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint TypeTotal Closed Complaints
Problems with Product / Service2
Advertising / Sales Issues0
Billing / Collection Issues0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints 2

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Thrivent Financial for Lutherans Foundation
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Complaint Breakdown by Resolution

Complaint Resolution Log (2)BBB Closure Definitions
07/03/2013Problems with Product / Service | Read Complaint Details

Additional Notes

Complaint Category: Inappropriate behavior by customer service personnel

Complaint: Failure to disclose fees during a call w/customer service on change to 401K investment & inability to get Thrivent to pull tape recording to prove it
Called customer service asking for money market fund to move my 401K investment to stop losses in value. They walked me thru the account and paperwork to complete the change and never disclosed that they were going to charge me enormous fees to provide insurance that my money would not decrease more than 2/3rds of irs then current value and never told me about the fees or insurance. I didn't realize they were charging the fees until 3 years later and have asked sales, sales management, and customer service repeatedly since 2011 to pull the tapes to prove my claim to no avail. Sales at times have agreed to pull the tapes with no follow thru back to me which I would learn when I followed up that they had left the company and no one was pulling the tapes. They have them in their archives but have so far refused to pull them so I can prove my claim and force them to give me the money they stole from me.

Business' Initial Response
This letter is in response to the complaint received in your office on September 14, 2012, from Mauricia Molnar regarding her Thrivent Life Insurance Company variable annuity. It is my understanding you recently became aware that complaints sent to Thrivent Financial for Lutherans were not being received by Member Relations and that this addressing issue has since been resolved. We apologize for not responding to your initial inquiry from September 2012.

Ms. Molnar is the sole owner of an IRA variable annuity issued on August 23, 1991. Ms. Molnar contacted Thrivent Financial, requesting we review phone calls placed to our customer interaction center, claiming she was not provided sufficient information about a change involving her variable annuity, and she has asked to have her account value restored. Multiple letters were sent to Ms. Molnar explaining that she completed a form to move the funds to the Money Market Subaccount, and therefore, we were denying her request. Ms. Molnar was offered the opportunity to appeal the decision to our Member Dispute Resolution Program (MDRP). Thrivent Financial's MDRP is a multistep process available to customers to pursue resolution of their disputes. Ms. Molnar has not requested an appeal of our decision.

While it is unfortunate the phone call Ms. Molnar referenced is no longer available, having been beyond our 3
year retention period, the subaccount transfer processed on October 8, 2008, was processed as a result of a written authorization directing the change, not a phone call. The form Ms. Molnar completed listed all the subaccounts available within her contract, and the prospectus, which is sent to her every year since her contract was issued, provides information regarding the fees, expenses and risk of each subaccounts available.
Thrivent Financial has attempted to Work with Ms. Molnar to transfer her money to another product or to the Fixed Account Within the variable annuity where it would yield a minimum of 4% interest and not be subject to market fluctuation. She has not contacted Thrivent Financial to initiate any of these changes.

To assist in your review of this complaint, Thrivent Financial is providing copies of the following documentation:

. Email from Ms. Molnar dated September 14, 2012 (exhibit A); _

Letter dated September 27, 2012, and attachments sent to Ms. Molnar (exhibit B); Email from Ms. Molnar dated February 28, 2013 (exhibit C); Letter dated March 8, 2013, and attachments sent to Ms. Molnar (exhibit D); Email from Ms. Molnar dated March 25, 2013(exhibit E);

Letter to Ms. Molnar dated April 1, 2013 (exhibit F); and

Letter to Ms. Molnar dated May 14, 2013 (exhibit G).
If you need additional information, please contact me at 800-847-4836; say "directory" and enter extension 6284595. You may also contact me via e-rnail

Consumer's Final Response
(The consumer indicated he/she DID NOT accept the response from the business.)
Thrivent has again lied. When I originally contacted their local team assigned to handle my account, it was within the three years. The team told me several months after my original request that the phone records were now in archives (even though they weren't when I first discussed the issue with them and it was difficult to get the company to pull them once they went to storage. The issue is not that they simply didn't give me sufficient information on the change to my account but rather that I told them that I was tired of the value of my account dropping like a brick and did they have a money market account where I could move my money so that the value of my account would not continue to drop until I felt comfortable to put it back in the market. They said they did, told me which one offering they had, and because I did not understand their paperwork, on that same call, they walked me thru filling out that paperwork which I faxed over to them within a few days (week tops) of that date. At no time did their 800# staff tell me that my value would continue to drop significantly because they were going to charge me huge fees because they were using an annuity money market (when they had a money market that was not an annuity) that would charge me large fees every quarter to manage nothing. When I learned what they had done to me which was a long time after this trade occured, they said that I got the benefit of insurance that guaranteed that the value of my money market account would never fall below my original value when I first invested the money with them. The original they were speaking of occured in 1991 when I first invested with them and the value at that time was 1/3rd of its value when I was doing this money market trade which meant I was paying huge fees to them to basically provided a valueless insurance. I never asked for that insurance and they never told me about any of this until I realized the fees they were charging me without disclosing those fees or what those fees provided.
They have refused to pull the telephone records all along because they know that they will have to return the money they stole from me if they do. The telephone records (according to multiple Thrivent employees) exist but have simply been archived.

They are a company that is riddled with account teams that are suppose to handle customers' needs whose only concerns are to new investment dollars and their own personal commissions. I say this because in my first meeting with the account team which was within the 3 years, I dealt with my irritation over my money they had helped themselves to for doing absolutely nothing but insuring my value in a money market wouldn't drop by more than 2/3rd's and they should have requested the telephone records at that time and then it would have been within 3 years, and yes I told them I had dealt with the 800# folks to do the change along with all the details of what had been discussed, and not discussed, in that conversation. The 800 customer service staff is either incompetant or dishonest which I like to assume incompetant.

This is a company that used to be Lutheran Brotherhood and back then was a good company to do business with but since they became Thrivent, they have obviously gone downhill fast to the point of having no view to customer service and their ethics are terrible. Their own account team guy told me they have a high turnover rate and that even they have a hard time getting their customer service department to do what needs to be done for customers. Within 6 months of their first contact with me, the account rep had left the company. I have plead my case to numerous people in their company verbally and in writing. When their customer service team sends me a reply, it takes a long time to receive it and it ignores the facts laid out in my explanation of what occured.

I think the most significant testament to their regard for their customers is the fact that it took them 9 months to reply to a customer's Better Business Bureau complaint because they simply have such little regard for customer issues.

It is sad to know how far they have fallen over the years in terms of serving their customers in an honest and ethical manner. They will never get my investment business again.

Mauricia Molnar

Business' Final Response
Dear Ms. Wallace:
This letter is in response to Ms. Mauricia Molnar's Complaint regarding her Thrivent Life Insurance Company Variable annuity contract.
As indicated in my previous response to the BBB dated May 24, 2013, Thrivent has responded to Ms. Molnars concerns advising that the call she indicated took place sometime prior to a subaccount transfer that Was processed on October 8, 2008, is not available. Thrivent retains calls for a period of 3 years after which time they are deleted; they are not archived as Ms. Molnar contends. When our office Was contacted regarding Ms. Molnar's request to review a call she placed sometime prior to October 8, 2008, the 3-year retention period had already expired and the call Was no longer available.
While it is unfortunate the phone call Ms. Molnar referenced is no longer available, as previously communicated, the subaccount transfer processed on October 8, 2008, Was done as a result of a Written request signed by Ms. Molnar. Within her Variable annuity contract, Ms. Molnar has the opportunity to invest in a Variety of stock- and bond-based subaccounts and a fixed account. Information regarding the fees, expenses and risk of the subaccounts is disclosed in the prospectus she is sent every year. The form Ms. Molnar completed clearly indicated this Was a transfer being done Within her Variable annuity contract, not to a new mutual fund money market account as she contends. Because the stock- and bond-based subaccounts Within the Variable annuity are market based, the accumulated Value Within the contract is subject to change on a daily basis. Ms. Molnar, when she purchased the variableannuity, acknowledged she understood the Accumulated Value may increase or decrease daily based on the investment experience of the Variable account, as referenced on the Application for Variable Annuity (copy enclosed).
We are sorry Ms. Molnar has such a negative opinion of Thrivent. We have attempted to Work With her to resolve her concerns. Thrivent has offered her the opportunity to appeal the decision through our Member Dispute Resolution Program as a means to bring closure to this matter. Thrivent's Member Dispute Resolution Program is a multi-step program available to our members to pursue resolution of their disputes. It includes Appeal, Mediation, and Binding Arbitration. The program is
Thrivent Life insurance Company is a wholly owned subsidiary of Thrivent Financial for Lutherans
designed to provide a fair, timely and efficient reVieW of their complaints. It is not mandatory for Ms. Molnar's product, but it is available should she choose to utilize it. At this time, she has not requested an appeal of our decision. I am including a brochure about Thrivent's Member Dispute Resolution Program for your review.
If you need additional information, please Contact Ine at SOO-8474836; say directory and enter extension 6284595. You may also Contact me Via e-mail at kelly,

Complaint Resolution: Company resolved the complaint issues. The consumer acknowledged acceptance to BBB.

04/29/2013Problems with Product / Service | Read Complaint Details

Additional Notes

Complaint Category: Failure to respond to phone calls or written requests for assistance or support

Complaint: Delay in responding to both telephone calls and letters. The first response was made January, 2013, and as of now no resolution has been made.
For social security number ending 8867. An incorrect 1099 form was issued for tax year 2011. It was reported using our son's sister's name but our son's social security number. The IRS sent a notice indicating that our son didn't report income for a sale of stock when in fact it was our daughter who received income from sale of stock. It was promised that a corrected 1099 form should be sent out in 2 weeks. In early February, 2013, I called in inquiring about it and was told it was sent January 28, 2013, via fax to our accountant, which was more than 2 weeks later. It was incorrect in that it listed our daughters name but son's social security number with $0.00. Our accountant indicated that the IRS would not accept this. Our accountant sent sent a letter to Thrivent on February 16th, and as of March 9 nothing had been received. I contacted Thrivent again on March 13 and told them nothing had been sent again. They told me it took time, but by this time (which was 2 1/2 months after 1st inquiry with them was made), the IRS had sent a collection letter so I told Thrivent it needs to be taken care of right now. At the end of the conversation Thrivent's representative was to call our home on March 14th indicating when both our accountant (by fax) and our son (my mail) could expect the 2nd corrected 1099. My husband took the call and was told it would be faxed to the acountant and our son would also receive a copy. Today, March 15, nothing has been received by accountant. I called again today (March 15) and was told it could possibly be faxed to accountant today but by the latest Monday, March 18. I told them I was not happy with them and was again told that these things take time. I believe that 2 1/2 months is more than enough time for the 2nd corrected 1099 to be sent.

Business' Initial Response
This is in response to the complaint you filed with the Better Business Bureau of Minnesota and
North Dakota. Please accept our apologies for the difficulties you recently experienced _with the tax reporting for redemption made in 2011 from *********'s mutual fund account. i

I would like to explain what happened with the tax reporting. The applications for *********'s_
mutual fund account and *****'s account were dated 12/ 19/ 1996. The Social Security Number
(SSN) for ***** was listed on *********'s application and vice versa. Unfortunately, Thrivent _ Investment Management was unaware that the numbers for ********* and ***** were wrong on
the applications, as the error was not brought to our attention until January 2013.

In order to change the SSN for ********* and ***** on our records, we needed signed verification of the actual SSNs. We received Incorrect" W95 on January 16, signed by ********* and *****, respectively. The forms confirmed that the SSNs We received on the applications were, in fact not correct. After receiving the W95, the corrected tax forms for ********* were mailed out on January 28. You also requested a corrected form for *****, per the request of your accountant. Form 1099-B that
you were waiting for (showing zero distributions in 2011 to *****) was faxed to your accountant,
****, on March l5, along with an apology letter explaining the errors.

the corrected tax forms took longer to generate than we anticipated, and we regret any
inconvenience that this delay may have caused. Please accept the enclosed $50 Visa gift card as a token of appreciation for your patience while this matter was resolved.

Consumer's Final Response
(The consumer indicated he/she DID NOT accept the response from the business.)
We are still waiting for a response from the IRS. In the letter that Thrivent sent with corrected 1099 forms they stated that they had not filed these 1099s with the IRS because they never reported anything under their account number. The IRS does not use Thrivent's account numbers they use an individual SS#. Our son is not able to file his 2013 Income Tax Return until this is resolved. It was never mentioned to us that the application was wrong in any of the conversations I had with Thrivent. We do not feel that is is right that our son's name has been tarnished because of this error.

Complaint Resolution: BBB determined the company made a reasonable offer to resolve the issues, but the consumer did not accept the offer.

Industry Comparison| Chart

Financial Services, Investment Advisory Service, Insurance Services, Insurance - Life, Insurance - Homeowners, Insurance - Accident & Health, Mutual Funds

Additional Information

BBB file opened: 03/07/2011Business started: 11/04/1982

This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Minnesota Department of Commerce
85 7th Pl E Ste 500
Saint Paul, MN55101-6013
(651) 539-1500

Type of Entity

Non-Profit (Comp)

Business Management
Principal: Brad Hewitt (President and CEO)
Contact Information
Richard Kleven
Business Category

Financial Services, Investment Advisory Service, Insurance Services, Insurance - Life, Insurance - Homeowners, Insurance - Accident & Health, Mutual Funds

Products & Services

According to the information provided by Thrivent Financial for Lutherans, this company offers financial, insurance and investment services to their members.

Alternate Business Names
Thrivent Investment Management Inc, Thrivent Insurance Agency Inc
BBB Program Participation
This company has agreed to use special procedures including arbitration, if necessary, to resolve disputes through their participation in the following programs: BBB Identification, BBBOnLine.
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If you choose to do business with Thrivent Financial for Lutherans Foundation, please let them know that you contacted BBB for a Business Review.

Map & Directions

Map & Directions

Address for Thrivent Financial for Lutherans Foundation

625 4th Ave S

Minneapolis, MN 55415-1665

To | From


1 Locations

  • 625 4th Ave S 

    Minneapolis, MN 55415-1665(800) 847-4836
    (612) 340-7000

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Minnesota and North Dakota. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*Thrivent Financial for Lutherans Foundation is in this range.


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We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.


Additional Phone Numbers

  • (800) 847-4836
  • (612) 340-7000

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