Thrivent bucks the AI layoff trend and plans to add 600 financial advisors this year

Core Insights - Thrivent plans to hire 600 financial advisors in 2026 to expand its workforce and meet rising demand for purpose-driven financial advice [1][2] - The hiring initiative is part of Thrivent's growth strategy and aims to address a talent shortage in the financial advice industry as many veteran advisors approach retirement [4][8] Company Overview - Thrivent, ranked No. 388 on the Fortune 500, manages over $212 billion in assets and serves 2.4 million clients with a workforce of more than 4,500 employees [5] - The company was founded in 1902 and offers banking and investment services to both members and nonmembers [5] Recruitment Strategy - Thrivent recruits advisors through a traditional field network and a Virtual Advice Team, where advisors serve clients remotely [2] - The recruitment program targets early-career professionals and those seeking a second career, such as teachers and business professionals [3] Industry Context - The financial advice industry is facing a talent shortage, necessitating changes in the advisor operating model to enhance productivity and attract new talent [4] - Thrivent is investing in AI to support its advisors, aiming to modernize the business while maintaining the importance of personal relationships with clients [6][7]