Principal Global Investors

CRD#109002
Investment Advisor Firm

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Overview

Principal Global Investors is a financial advisory firm based in Des Moines, Iowa. Principal Global Investors oversees $296.0 billion in total assets across 16,121 accounts, making it one of the biggest investment advisory firms in the United States by assets under management (AUM). The company has a very large team of 1,776 employees, five hundred sixty-one of whom are financial advisors. Principal Global Investors does not act as a registered broker-dealer, meaning the advisor is not able to buy and sell securities for its own accounts as well as its clients' and instead has to go through a broker-dealer company to do so. Securities are defined as tradable fiscal investments such as stocks, bonds and options.

Principal Global Investors manages most of the firm's client assets in a discretionary manner. Discretionary management means that a portfolio manager has the discretion to make buy and sell judgments for the client's account without needing to seek the client's approval. Principal Global Investors also oversees 13 non-discretionary accounts with a total of $60.1 billion in AUM. The firm oversees an average of $18.4 million for every account. The average financial advisor at Principal Global Investors administers around 29 client accounts, making it about average in terms of personalization.

Principal Global Investors's main office is at 801 Grand Ave, Des Moines, Iowa 50392. It is legally allowed to serve investors across 51 U.S. states and territories.

Assets Under Management

$296.0 billion

Number of Advisors

561

Disclosures

No

Office Location

801 Grand Ave
Des Moines, IA 50392

Principal Global Investors by the Numbers

Total Assets Under Management

$296.0 billion

National Average: $3.3 billion
Total Number of Employees

1,776

National Average: 31
Total Number of Accounts

16,121

National Average: 1,935
Average Account Size

$18.4 million

National Average: $1.7 million

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Products and Services

Principal Global Investors offers multiple services, which can include 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 company does not sell products or offer services apart from investment advice to its investment advisory clients. 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 61% 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 for financial advisory services typically vary depending on which service is offered. However, fee types charged by the firm most likely consist of the following fee types: asset-based, fixed, performance-based or other. The firm does participate in a wrap fee program, in which the firm offers a bundle of services for a comprehensive fee.

Available

  • Offered by 72% 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 39% 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

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    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

Principal Global Investors does business with a broad range of clients. It caters 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 16,121 accounts, Principal Global Investors's largest client group by number of accounts is high net worth investors, though it also caters to 7,749 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 counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's accounts are non-U.S. persons.

  • High-Net-Worth Individuals* - 48.07%
  • Other Individuals - 41.83%
  • Corporations - 7.89%
  • Charitable Organizations - 2.21%

* 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

Kenneth Burd
New York, NY
Brandon Miller
Des Moines, IA
Nicholas Coppola
Chicago, IL
Beau Hillger
Des Moines, IA
Christopher Goehring
Des Moines, IA
Mark Nelson
Des Moines, IA
Robert Nodar
Glen Allen, VA
Kishor Bhatia
Des Moines, IA
Carlos Villarreal
Chicago, IL

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This content was compiled from the SEC and FINRA