Principal Securities, Inc

CRD#1137
Investment Advisor Firm

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Overview

Principal Securities, Inc is a financial advisor company that has its headquarters in Des Moines, Iowa. It controls $6.1 billion in total assets over 31,797 accounts, placing it among the biggest investment advisory firms in the nation by assets under management (AUM). Principal Securities, Inc has a very large team of 1,603 employees, all of whom are financial advisors. Principal Securities, Inc does not act as a registered broker-dealer, signifying that the advisor is not able to buy and sell securities for its own accounts as well as its clients' and instead is required to go through a broker-dealer firm to do so. Securities are defined as exchangable fiscal assets like options, stocks and bonds.

Principal Securities, Inc manages 15,510 of its client assets on a discretionary basis. Discretionary management means that transaction judgments for the client's account are made by a portfolio manager without needing client approval. It also administers 16,287 non-discretionary accounts totaling $3.8 billion in assets under management. The company administers roughly $192,151 in assets for every account. The average advisor at Principal Securities, Inc administers about 20 client accounts, placing it among the more personalized financial advisor firms in the country.

Principal Securities, Inc's headquarters is located at 655 9Th Street, Des Moines, Iowa 50309. The firm is allowed to serve customers throughout 51 U.S. states and territories.

Assets Under Management

$6.1 billion

Number of Advisors

1,603

Disclosures

No

Office Location

655 9Th Street
Des Moines, IA 50309

Principal Securities, Inc by the Numbers

Total Assets Under Management

$6.1 billion

National Average: $3.3 billion
Total Number of Employees

1,603

National Average: 31
Total Number of Accounts

31,797

National Average: 1,935
Average Account Size

$192.2 thousand

National Average: $1.7 million

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Products and Services

Principal Securities, Inc provides multiple services, which can consist of financial planning services, portfolio management for individuals and small businesses, selection of other advisers and educational seminars. In the past financial year, the company provided 500 of its clients with financial planning services. It is engaged in selling products or offering services other than investment advice to its clients. The company is also affiliated with a number of other service providers 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

  • Offered by 44% of firms

    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.

  • Find a firm that offers this service

    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.

  • Find a firm that offers this service

    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 depend on the type of services offered. Fee types billed by Principal Securities, Inc may include any blend of the following fee structures: asset-based, hourly, fixed or other. Principal Securities, Inc participates in a wrap fee program, in which the company offers a service bundle 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 35% of firms

    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.

  • 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

  • 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 17% of firms that offer this fee type

    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.

  • 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 firm does business with a number of different customers. The firm provides services to retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 31,797 accounts, Principal Securities, Inc's biggest client type by number of accounts is retail investors, but it also serves 754 high-net-worth individuals. The SEC defines a high-net-worth individual as an investor 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). None of the company's customers are from outside of the U.S.

  • High-Net-Worth Individuals* - 2.83%
  • Other Individuals - 96.43%
  • Corporations - 0.63%
  • Charitable Organizations - 0.11%

* 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 Securities, Inc does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Principal Securities, Inc

John Murray
Wayne, PA
Conrad Beeler
Lansing, MI
Daniel Seefeldt
Indianapolis, IN
Jeffery White
Roseville, CA
Jennifer Cromer
Jacksonville, FL
Joseph Pearcy
Kalamazoo, MI
Paul Kranich
Walnut Creek, CA
Christina Loranger
Waltham, MA
Diana Hutson
Ames, IA

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This content was compiled from the SEC and FINRA