Thrivent Advisor Network LLC

Item 5 – Fees and Compensation

The following paragraphs detail the fee structure and compensation methodology for our non-wrap account services.

A. Fees for Advisory Services
Investment Advisory Services
You will pay an investment management fee (“Advisor Management Fee”) quarterly in advance of each calendar
quarter pursuant to the terms of the Investment Management Agreement. In certain instances, the billing start date may
be delayed based on our discretion.

The annual rate for your Advisor Management Fee for investment advisory services under this Disclosure Brochure will
not exceed 2% of your assets under management and is based on several factors, including, but not limited to the:
  •       services offered to the Client,
  •       complexity of services to be provided to the Client, and/or
  •       level of Client assets managed by us.

Therefore, the Advisor Management Fees vary among Clients and is negotiable.

Further, Clients participating in the TAN Wrap Fee Program may be charged a higher overall fee. Please see the Wrap
Fee Program Brochure for more information.

The quarterly Advisor Management Fee is based on either a fixed percentage fee, linear breakpoint fee, or tiered
incremental fee:
      •    Fixed Rate: a fixed percentage rate that does not change as the assets under management (“AUM”) in
           your account or household accounts change.
      •    Tiered Breakpoint: a blended fixed rate that applies a different rate for each level of AUM based on
           a breakpoint schedule.
      •    Linear Breakpoint: a fixed rate of the total AUM of your account or household accounts based on a
           breakpoint schedule.

Clients that expect their accounts to grow over time or expect to add additional assets under management with us
may pay more fees under a fixed percentage fee or tiered incremental fee schedule than under a linear breakpoint fee
schedule above the first fee breakpoint. Advisory Persons have a conflict of interest in choosing a fixed percentage
fee or tiered incremental fee schedule over a linear breakpoint fee schedule. We conduct supervisory reviews and
require Advisory Persons to charge reasonable fees that are in line with industry standards for investment advisory
services provided to Clients.

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The Advisor Management Fee in the first quarter of service is prorated from the inception date of your account(s)
to the end of the first quarter. The Advisor Management Fee will take into consideration the aggregate assets under
management with us, including cash and cash equivalents, and all securities held in accounts managed by us will be
independently valued by the designated broker-dealer/custodian (herein the “Custodian(s)”). We will not have the
authority or responsibility to value portfolio securities in your account.
You may make deposits to and withdrawals from your account(s) at any time, subject to our right to terminate an
account. Deposits may be in cash or securities provided that we reserve the right to liquidate any transferred securities
or decline to accept particular securities into your account(s). You may withdraw account assets on notice to us, subject
to the usual and customary securities settlement procedures. Refer to the Investment Management Agreement for
further information about deposits and withdrawals in the account. Advisory Persons design portfolios as long-term
investments and the withdrawal of assets may impair the achievement of a Client’s investment objectives. Advisory
Persons may consult with you about the options and ramifications of transferring securities. However, you are advised
that when transferred securities are liquidated, they may be subject to transaction fees, fees assessed at the mutual
fund level (i.e., contingent deferred sales charge), and/or tax ramifications.

Use of Independent Managers
For Client account(s) implemented through an Independent Manager, the Client’s overall fees may include our Advisor
Management Fee (as noted above) plus advisory fees and/or platform fees charged by the Independent Manager(s),
depending on the Independent Manager selected and as applicable.

B. Fee Billing
Investment Advisory Services
Clients provide written authorization permitting Advisor Management Fees to be deducted by the Custodian at the
direction of TAN to be paid directly from their account(s) held by the Custodian as part of the Investment Management
Agreement and separate account forms provided by the Custodian. The Advisor Management Fee will be calculated
by us and deducted from your account(s) by the Custodian. We will send an invoice to the Custodian indicating the
amount of the fees to be deducted from your account(s) at the respective quarter-end date. The amount due is
calculated by applying the quarterly rate (annual rate divided by calendar days in a quarter) to your total assets under
management with us at the end of the prior quarter, including any month-end accruals of dividends and interests.
Clients will be provided with a statement, at least quarterly, from the Custodian reflecting deduction of the Advisor
Management Fee. It is your responsibility to verify the accuracy of these fees as listed on the Custodian’s brokerage
statement as the Custodian does not assume this responsibility.
Unless otherwise instructed, account values (excluding non-managed assets, and fee-based annuities and fee-based
529 accounts billed by the sponsor) of households will be combined to determine the applicable Advisor Management
Fees (“Household Billing”). For example, account values may be combined for you and your minor children, joint
accounts with your spouse or domestic partner, and other types of related accounts. Advisory Persons are primarily
responsible for identifying which accounts should be householded together, but ultimately you will decide. In certain
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Item 7 – Types of Clients

TAN offers investment advisory services to individuals, high-net worth individuals, families, trusts, estates, businesses,
and retirement plans. TAN does not impose a minimum account size for the services described in this Disclosure
Brochure; however, depending on the Advisory Person that you work with, certain investment strategies and
Independent Managers will require a minimum size to effectively implement the investment mandate.