Principal Asset Management

CRD#109002
Investment Advisor Firm

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Learn more about Principal Asset Management

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

    • Overview

    Principal Asset Management is located at 801 Grand Ave, Des Moines, IA. The firm employs 700 financial advisors to manage client portfolios and provide financial guidance. Principal Asset Management is not a registered broker-dealer.

    Principal Asset Management oversees $377.2 billion in assets under management across 6,824 accounts, of which 6,816 are discretionary and 8 are non-discretionary. The services offered 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 firm caters to a diverse range of investors, including 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. Retail investors are the largest client type by accounts. The fee structure at Principal Asset Management includes asset-based, fixed, performance-based, and other fees. The firm has 324 high net worth clients and maintains affiliations with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency, and commodity pool advisor.

    Principal Asset Management is registered in the states of Alabama, Arizona, Colorado, Alaska, Arkansas, California, 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

    $377.2 billion

    Number of Advisors

    700

    Disclosures

    No

    Office Location

    801 Grand Ave
    Des Moines, IA 50392-0001

    Principal Asset Management by the Numbers

    Total Assets Under Management

    $377.2 billion

    National Average: $8.6 billion
    Total Number of Employees

    1,955

    National Average: 64
    Total Number of Accounts

    6,824

    National Average: 375,227
    Average Account Size

    $55.3 million

    National Average: $23.0 thousand
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    Products and Services

    Principal Asset Management provides a variety of 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. Notably, Principal Asset Management did not provide financial planning services to any of its customers in the previous fiscal year. The Firm is not engaged in selling products or offering services other than investment advisory services to its investment advisory customers.

    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.

    • Find a firm that offers this service

      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 for financial management largely are based on the financial services offered. Fees charged by Principal Asset Management likely consist of some blend of the following fee structures: asset-based, fixed, performance-based, or other. The firm does participate in a wrap fee program, in which the company offers a bundle of services 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

    The firm works with a number of different investors. It 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 11 clients, Principal Asset Management's biggest client type by number of accounts is insurance companies, though it also caters to 324 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 under management or a net worth of at least $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* - 4.75%
    • Other Individuals - 80.25%
    • Corporations - 14.68%
    • Charitable Organizations - 0.32%

    * 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

    Sunita Advaney
    Forest Hills, NY
    Kyle Porter
    Folsom, CA
    Samantha Kintzle
    Des Moines, IA
    Edward Kakenmaster
    Chicago, IL
    Juliana Thomas
    Des Moines, IA
    Emily Marr
    Des Moines, IA
    Matthew Quick
    Des Moines, IA
    Jordan Fahr
    Des Moines, IA
    Justin Vaught
    Des Moines, IA

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