Principal Asset Management

CRD#109002
Investment Advisor Firm

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Overview

Principal Asset Management operates as a financial advisory company headquartered in Des Moines, Iowa. The firm handles $279.1 billion in assets across 13,656 client accounts, making it one of the biggest investment advisory firms in the United States by assets under management (AUM). The firm has a very large group, including 683 financial advisors. Principal Asset Management does not act as a registered broker-dealer, meaning the company cannot buy and sell securities for its accounts and those of its customers and instead has to go through a broker-dealer firm to do so. Securities are defined as tradable fiscal assets such as options, bonds and equities.

Principal Asset Management administers the majority of its client assets on a discretionary basis. Discretionary management is a structure in which transaction judgments are made by an investment advisor without needing the customer's permission. The company also administers 53 non-discretionary accounts totaling $8.3 billion in assets under management. The advisory firm's average account size is $20.4 million. An average advisor at Principal Asset Management administers around 20 client accounts, making it one of the more individualized firms in the country.

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

Assets Under Management

$279.1 billion

Number of Advisors

683

Disclosures

No

Office Location

801 Grand Ave
Des Moines, IA 50392-0001

Principal Asset Management by the Numbers

Total Assets Under Management

$279.1 billion

National Average: $8.6 billion
Total Number of Employees

1,925

National Average: 64
Total Number of Accounts

13,656

National Average: 375,227
Average Account Size

$20.4 million

National Average: $23.0 thousand
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Products and Services

Principal Asset Management offers a variety of financial services, including 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. The firm does not sell products or offer services aside from investment advisory services to its investment advisory customers. It is also affiliated with a number of other companies in the financial services industry, 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 46% 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 20% 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 6% 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. However, fee types charged by Principal Asset Management can include the following fee structures: asset-based, fixed, performance-based or other. The firm participates in a wrap fee program, in which the company offers a service bundle for a comprehensive fee.

Available

  • Offered by 69% 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 26% 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 32% 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 10% 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 21% 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 1% 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 0% 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

Principal Asset Management does business with a broad range of customers. The firm works with 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 13,656 customers, Principal Asset Management's largest client is retail investors, although it also serves 336 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 in AUM or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 5% of its customers are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 2.46%
  • Other Individuals - 41.46%
  • Corporations - 52.42%
  • Charitable Organizations - 3.66%

* 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 Asset Management does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Principal Asset Management

Kyle Vanourny
Overland Park, KS
Matthew Quick
Des Moines, IA
Jason Arata
Folsom, CA
Bradley Hanus
Des Moines, IA
Kate Davidson
Austin, TX
Jennifer Graves
Charlotte, NC
James Beilstein
Houston, TX
Angela Ault
Bainbridge Island, WA
Thomas Monahan
Redondo Beach, CA

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