Principal Global Investors

CRD#109002
Investment Advisor Firm

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Overview

Principal Global Investors is an advisory firm located in Des Moines, Iowa. It has $349.2 billion in assets under management throughout 10,810 customer accounts, placing it among the largest financial advisory firms in the nation by assets under management (AUM). The company has a very large group of 1,810 employees, of which 572 are financial advisors. Principal Global Investors does not act as a registered broker-dealer, signifying that the advisor cannot buy and sell securities for its clients' and own accounts and instead must go through a broker-dealer firm to do so. Securities are exchangable financial assets like options, stocks and bonds.

Principal Global Investors manages more than half of the company's accounts in a discretionary manner. Discretionary management signifies that an investment advisor has the discretion to make buy and sell choices without needing client authorization. The firm also manages eight non-discretionary accounts totaling $6.8 billion in assets. The investment advisory firm supervises an average of $32.3 million for each client account. An average advisor at Principal Global Investors manages around 19 client accounts, making it one of the more personalized financial advisor firms in the country.

The firm's central office is at 801 Grand Ave, Des Moines, Iowa 50392-0001. It is permitted to provide services to clients across 51 U.S. states and territories.

Assets Under Management

$349.2 billion

Number of Advisors

572

Disclosures

No

Office Location

801 Grand Ave
Des Moines, IA 50392-0001

Principal Global Investors by the Numbers

Total Assets Under Management

$349.2 billion

National Average: $3.7 billion
Total Number of Employees

1,810

National Average: 29
Total Number of Accounts

10,810

National Average: 2,073
Average Account Size

$32.3 million

National Average: $1.8 million

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Products and Services

Principal Global Investors offers a number of services, which can consist of portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for institutional clients, selection of other advisers, educational seminars and other services. Notably, it did not provide financial planning services to any of its accounts in the prior fiscal year. Principal Global Investors does not sell products or offer services apart from investment advisory services to its investment advisory accounts. The firm also has a number of financial industry affiliations, including with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency, pension consultant and commodity pool advisor.

Core Advisor Services

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    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 62% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

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    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 23% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

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    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 10% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Fees charged by financial advisors usually are based on which services the firm provides the client. Fee types charged by the firm most likely consist of some blend of the following fee types: asset-based, fixed, performance-based or other. Wrap fee programs, or the practice of bundling services for a single fee, are provided by the firm.

Available

  • Offered by 74% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 17% of firms

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Offered by 40% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

  • Offered by 12% of firms

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

Unavailable

  • Find one of the 35% of firms that offer this fee type

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Find one of the 2% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 1% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

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Types of Clients

The company works with a number of different clients. The firm provides services to retail investors, high net worth investors, banking institutions, investment companies, pooled investment vehicles, pension plans, charitable organizations, state or municipal government entities, insurance companies, sovereign wealth funds and corporations. Out of its 10,810 accounts, Principal Global Investors's largest client is high net worth investors, although it also serves 5,226 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 in AUM or a net worth of more than $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). About 37% of its clients are from outside of the U.S.

  • High-Net-Worth Individuals* - 48.34%
  • Other Individuals - 40.65%
  • Corporations - 8.52%
  • Charitable Organizations - 2.49%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Principal Global Investors does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Principal Global Investors

Cole Vautier
Des Moines, IA
Justin Vaught
Des Moines, IA
Brandon Miller
Des Moines, IA
Carlos Villarreal
New York, NY
Kenneth Burd
New York, NY
Kishor Bhatia
Des Moines, IA
Mark Nelson
Des Moines, IA
Beau Hillger
Des Moines, IA
Robert Nodar
New York, NY

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This content was compiled from the SEC and FINRA