![]() When you sweep, you are doing something that you want to do. A client may choose to further their planning engagement with Thrivent through its Dedicated Planning Services (an investment advisory service) that results in written recommendations for a fee.The example I use to teach my students is this: sweep account. Thrivent provides advice and guidance through its Financial Planning Framework that generally includes a review and analysis of a client’s financial situation. Visit or FINRA’s BrokerCheck for more information about our financial advisors. ![]() Only individuals who are financial advisors are credentialed to provide investment advisory services. Insurance products, securities and investment advisory services are provided by appropriately appointed and licensed financial advisors and professionals. Registered representative of Thrivent Investment Management, Inc. Securities and investment advisory services offered through Thrivent Investment Management Inc., a registered investment adviser, member FINRA and SIPC, and a subsidiary of Thrivent. Thrivent is the marketing name for Thrivent Financial for Lutherans. In this case, you'd review what's swept periodically and send it along to another investment or otherwise put it to use. Holding funds temporarily. Particularly if your sweep account is culling overage from a brokerage account, you might use this system as an intermediary for uninvested cash you haven't decided what to do with yet.For example, you could use the funds as the source account for your automatic bill-paying or, conversely, have it be your monthly allowance for nonessential spending. ![]() Setting aside money for short-term use. You could funnel excess money into an account that stores it for you to pay for a short-term need.This strategy can be particularly useful for building an emergency savings fund or earmarking money for a specific purpose like a vacation or a down payment on a home. It then conservatively can earn interest or returns until you need it for a short- or midterm goal. Managing savings. You could have money over a certain amount in a banking or brokerage account set to sweep into a high-yield savings account, money market account or certificate of deposit (CD).Some of the main ways you might use a sweep account include: You can use a sweep account to help you manage money in many ways, although your options likely will be limited to what your particular financial institution offers. We recommend you read the privacy policies of those sites as they may be different from Thrivent's policy. ![]() Insurance, securities, investment advisory and trust and investment management accounts and services offered by Thrivent, the marketing name for Thrivent Financial for Lutherans, or its affiliates are not deposits or obligations of Thrivent Federal Credit Union, are not guaranteed by Thrivent Federal Credit Union or any bank, are not insured by the NCUA, FDIC or any other federal government agency, and involve investment risk, including possible loss of the principal amount invested.Īny data or personal information collected by websites other than Thrivent is not covered by Thrivent's privacy policy. Deposit and lending services are offered by Thrivent Credit Union, the marketing name for Thrivent Federal Credit Union, a member-owned not-for-profit financial cooperative that is federally insured by the National Credit Union Administration and doing business in accordance with the Federal Fair Lending Laws. You are now leaving the Thrivent website. ![]()
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