Thrivent Advisor Network has hired an industry veteran from LPL Financial to serve as senior business development officer to support the company’s rapid growth, the company announced today.
Gary Foster has served in various business development roles for the past 15 years of his two-decade financial services career, according to a press release announcing the hiring. He most recently was regional director, vice president of business development at LPL. Prior to that, he worked in business development for Motif Capital, Pershing Advisor Solutions and Raymond James Financial Services, where he started his career.
Foster is the second senior-level industry executive recruited by Thrivent Advisor Network within the past two months to serve as senior business development officer. In October, Matthew Sines came on board from Raymond James, where since 1993 he held various management and sales roles and most was recently regional director/vice president, business development consultant.
The press release noted that Foster has extensive experience working directly with financial advisors in a variety of capacities, including advising those leaving wirehouses in search of options that support advisor independence.
Luke Winskowski, head of Thrivent Advisor Network, said in a statement that Foster will play an integral role in further establishing the firm as a landing spot for advisors who desire access to the RIA world, while also having the backing of a network, the common connection of shared values and the ability to support and grow their business.
Foster said he has followed Thrivent throughout his career. “What really struck me from the very beginning of my interaction with Thrivent's new hybrid RIA was the focus on shared values and purpose-driven approach to finances, with advisors who are dedicated to serving the whole client—not just their wealth, but also their health, values and purpose,” he said.
Minneapolis-based Thrivent Advisor Network is a hybrid platform offered by its parent company, Thrivent, a not-for-profit financial services organization founded by Lutherans. It has experienced rapid growth since its founding in 2019, the press release said. It had more than $1.3 billion in assets under management as of July 2020. The company said it has since had significant growth and it expects its total year-end AUM will approach $4.5 billion.