Principal Asset Management

CRD#109002
Investment Advisor Firm

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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.

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    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

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    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

Matthew Quick
Des Moines, IA
Jordan Fahr
Des Moines, IA
Juliana Thomas
Des Moines, IA
Kate Davidson
Austin, TX
Justin Vaught
Des Moines, IA
Jason Topp
Tampa, FL
Dejha Krajcar
Lambertville, MI
Cole Vautier
Des Moines, IA
Hunter Foubert
Des Moines, IA

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