Principal Securities, Inc

CRD#1137
Investment Advisor Firm

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Learn more about Principal Securities, Inc

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

    • Overview

    Principal Securities, Inc is located at 711 High Street, Des Moines, IA. The firm employs 1,349 financial advisors to manage client portfolios and provide financial guidance. Principal Securities, Inc is a registered broker-dealer.

    Principal Securities, Inc oversees $12.1 billion in assets under management across 54,844 accounts, of which 38,450 are discretionary and 16,394 are non-discretionary. Over the past year, the firm has provided financial planning services to 500 clients. The services offered include financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and educational seminars. The firm caters to retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities, and corporations, with retail investors being the largest client type by accounts. The fee structure at Principal Securities, Inc includes asset-based, hourly, fixed, and other fees. The firm has 1,512 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 Securities, Inc 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

    $12.1 billion

    Number of Advisors

    1,349

    Disclosures

    No

    Office Location

    711 High Street
    Des Moines, IA 50392

    Principal Securities, Inc by the Numbers

    Total Assets Under Management

    $12.1 billion

    National Average: $8.6 billion
    Total Number of Employees

    1,349

    National Average: 64
    Total Number of Accounts

    54,844

    National Average: 375,227
    Average Account Size

    $220.7 thousand

    National Average: $23.0 thousand
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    Products and Services

    Principal Securities, Inc offers a variety of services, which can include financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and educational seminars. In the past financial year, Principal Securities, Inc provided 500 of its customers with financial planning services. The Firm is engaged in selling products or offering services aside from investment advice to its clients.

    Core Advisor Services

    • Offered by 31% 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 46% 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 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

    Financial advisory fees largely vary depending on the financial services provided. Fees charged by Principal Securities, Inc can include some blend of the following fee structures: asset-based, hourly, fixed, or other. Wrap fee programs, or the practice of bundling services for a single fee, are offered by Principal Securities, Inc.

    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 21% 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 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 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.

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    Types of Clients

    The company manages money for a number of different customers. The company works with retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities, and corporations. Out of its 6 clients, Principal Securities, Inc's largest client type by number of accounts is retail investors, but it also manages money for 1512 high-net-worth individuals. The SEC defines a high-net-worth individual 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* - 3.51%
    • Other Individuals - 95.92%
    • Corporations - 0.48%
    • Charitable Organizations - 0.09%

    * 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

    Michael Harken
    Camdenton, MO
    Roger Goren
    Melville, NY
    Benjamin Hardy
    Almond, NY
    Martha Nielsen
    Latham, NY
    Brandon Meza
    San Diego, CA
    Caleb Robinson
    Houston, TX
    Andrew Karrmann
    Elkhorn, NE
    Reid Johnson
    Cedar Falls, IA
    William Krag
    Collierville, TN

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