Principal Advised Services

CRD#297324
Investment Advisor Firm

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Learn more about Principal Advised Services

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Principal Advised Services is located at 655 9th Street, Des Moines, IA. The firm employs 58 financial advisors to manage client portfolios and provide financial guidance. Principal Advised Services is not a registered broker-dealer.

    Principal Advised Services oversees $569.5 million in assets under management across 11,801 accounts, all of which are discretionary. The services offered include portfolio management for individuals and small businesses, and the selection of other advisers. The firm caters to retail investors and high net worth investors, with retail investors being the largest client type by accounts. The fee structure at Principal Advised Services is asset-based. The firm has 15 high net worth clients and maintains affiliations with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency, pension consultant, and commodity pool advisor.

    Principal Advised Services is registered in the states of Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

    Assets Under Management

    $569.5 million

    Number of Advisors

    58

    Disclosures

    No

    Office Location

    655 9Th Street
    Des Moines, IA 50309

    Principal Advised Services by the Numbers

    Total Assets Under Management

    $569.5 million

    National Average: $8.6 billion
    Total Number of Employees

    140

    National Average: 64
    Total Number of Accounts

    11,801

    National Average: 375,227
    Average Account Size

    $48.3 thousand

    National Average: $23.0 thousand
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    Products and Services

    Services offered by Principal Advised Services include portfolio management for individuals and small businesses and selection of other advisers. However, Principal Advised Services did not provide any of its clients with financial planning services in the prior fiscal year. It is not engaged in selling products or offering services other than investment advisory services to its investment advisory clients.

    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.

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      Educational Seminars/Workshops

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

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    Fee Structure

    A financial advisor's fees largely depend on which service is provided. Fees charged by Principal Advised Services typically consist of the following fee type: asset-based.The company does participate in a wrap fee program, in which the firm offers a bundle of services for a single 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.

    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 26% 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 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.

    • Find one of the 32% of firms that offer this fee type

      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.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

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

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    Types of Clients

    The firm provides services to retail investors and high net worth investors. Out of its 2 clients, Principal Advised Services's largest client group by number of accounts is retail investors, though it also manages money for 15 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).

    • High-Net-Worth Individuals* - 0.13%
    • Other Individuals - 99.87%
    • Corporations - 0%
    • Charitable Organizations - 0%

    * 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 Advised Services does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Principal Advised Services

    David Lemke
    Urbandale, IA
    Stanley Poorman
    Des Moines, IA
    Scott Christensen
    Des Moines, IA
    Austin Siefers
    Des Moines, IA
    Lori Calloway
    Frankfort, IN
    Scott Mueller
    Lake Oswego, OR
    Paige Hardaway
    Charlotte, NC
    Ryan Steffen
    Des Moines, IA
    William Taylor
    Milwaukee, WI

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    The content in this profile was updated by SmartAsset on 6/19/2024. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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