Principal Securities, Inc.
Principal Securities, Inc.
A subsidiary of Principal Financial Services, Inc.
Clearing firm: Fidelity Clearing and Custody Solutions
No. advisers: 1,746
AUM: $67,868,637,853
Year founded: 1968
Year end: Dec. 31
No. of retail offices: 586
Recruitment & Staffing
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| No. of reps | 1,747 | 1,746 | 1,782 |
| No. of reps, male | 0 | — | — |
| No. of reps, female | 0 | — | — |
| No. of producing reps | 1,282 | 1,406 | 1,547 |
| No. of producing reps, male | 0 | — | — |
| No. of producing reps, female | 0 | — | — |
| No. of reps producing $100K-$499K /year | 451 | 454 | 444 |
| No. of reps producing $500K+ /year | 87 | 92 | 71 |
| No. of CFPs | 0 | 235 | 0 |
| No. of full-time employees | 329 | 289 | 326 |
| No. of fee-based advisers served | 972 | 975 | 991 |
| Average payout per rep, per year | 0 | 0 | 0 |
| Avg. annual production of top 20% reps | 0 | 0 | 0 |
| Total payout, per year | 0 | 0 | 0 |
| Cost of E&O insurance per rep, per year | $892.50 | 835 | 879 |
| Affiliation fees charged per rep, per year | None | None | None |
| Affiliation fee coverage | — | — | — |
| $0-$249,999 | $250K-$499,999 | $500K-$749,999 | $750K-$999,999 | $1,000,000+ | |
|---|---|---|---|---|---|
| Mutual funds | up to 77% | up to 84% | up to 89% | up to 92% | up to 95% |
| Insurance | Variable Life up to 85% | Variable Life up to 86% | Variable Life up to 87% | Variable Life up to 87% | Variable Life up to 87% |
| Variable annuities | up to 77% | up to 84% | up to 89% | up to 92% | up to 95% |
| Limited parterships | up to 77% | up to 84% | up to 89% | up to 92% | up to 95% |
| Securities | up to 77% | up to 84% | up to 89% | up to 92% | up to 95% |
| Required minimum production | $25,000 | ||||
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total revenues | $316,711,169 | $320,669,984 | $316,187,460 |
| Commission revenues | $219,615,969 | $232,145,256 | $234,180,742 |
| Securities revenues | $3,805,087 | $2,414,793 | $3,944,250 |
| Securities revenues: Stocks | $2,399,637 | $1,459,686 | $2,885,265 |
| Securities revenues: Bonds | $200,198 | $119,644 | $102,471 |
| Securities revenues: ETFs | $704,608 | $514,184 | $563,869 |
| Securities revenues: Other | $500,644 | $321,279 | $392,645 |
| Mutual fund revenues | $65,493,301 | $64,503,588 | $65,629,430 |
| Annuities revenues | $51,406,850 | $55,120,974 | $70,431,979 |
| Annuities revenues: Fixed | 0 | 0 | — |
| Annuities revenues: Variable | $51,406,850 | $55,120,974 | $48,120,959 |
| Annuities revenues: Other | 0 | 0 | 0 |
| Insurance revenue | $20,211,872 | $27,739,045 | $25,120,599 |
| Insurance revenues: Life | $20,211,872 | $27,739,045 | $25,120,599 |
| Insurance revenues: Disabilities | 0 | — | — |
| Insurance revenues: LTC | 0 | — | — |
| Insurance revenues: Other | 0 | — | — |
| Alternative revenues | $9,487 | $37,153 | $19,072 |
| Alternative revenues: Hedge funds | 0 | — | — |
| Alternative revenues: Managed futures | 0 | — | — |
| Alternative revenues: Private placements | 0 | — | — |
| Alternative revenues: REITs | 0 | — | — |
| Alternative revenues: Other | $9,487 | $37,153 | $19,072 |
| Other commission revenues | $78,689,372 | $82,329,804 | $91,365,504 |
| Fee revenues | $96,067,770 | $87,296,618 | $80,468,487 |
| Fee revenues: Rep-managed accounts | $53,864,943 | $49,301,056 | $47,060,806 |
| Fee revenues: Firm-managed accounts | $28,754,970 | $24,580,835 | $22,595,835 |
| Fee revenues: Outside-managed accounts | $11,795,322 | $12,096,260 | $9,949,830 |
| Fee revenues: Other | $1,652,534 | $1,318,467 | $862,016 |
| Total revenues: Other | $1,027,431 | $1,228,009 | $1,538,231 |
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total account assets | $74,732,023,429 | $67,868,637,853 | $54,305,196,294 |
| Fee-based assets | $12,011,864,401 | $9,677,961,211 | $7,670,785,857 |
| Fee-based assets: Clearing firm | $9,342,548,399 | $7,647,242,674 | $6,105,370,279 |
| Fee-based assets: Advisory firm platforms | 0 | 0 | 0 |
| Fee-based assets: Third-party money managers | $1,847,452,813 | $1,652,634,210 | $1,121,281,311 |
| Fee-based assets: Other | $821,866,189 | $378,084,327 | $444,134,267 |
| Total account assets: Other | $62,720,156,028 | $58,190,676,642 | $47,078,544,704 |
| Average assets per rep | $42,777,346 | $38,870,927 | $30,474,296 |
| Social Media & Mobile | |||
| Allows advisers to use social media | Y | ||
| Social media sites allowed | Facebook | ||
| Dedicated mobile application for advisers? | N | ||
| Primary purpose of mobile application | — | ||
| Software Offered | |||
| Account aggregation software | Albridge Wealth Reporting (Albridge, an affiliate of Pershing) CashEdge (Fiserv) eMoney 360 (eMoney Advisor) Envestnet Yodlee |
||
| Compliance software | Protegent Surveillance (SunGard Data Systems Inc.) RegEd Smarsh |
||
| CRM | Advisor Assistant (Client Marketing Systems Inc.) Ebix CRM Smartoffice (Ebix) Microsoft Dynamics CRM (Microsoft Corp., includes Tamarac's Advisor CRM and Salentica's CRM) Redtail CRM (Redtail Technology) Salesforce CRM (Salesforce.com) SmartOffice (Ebix) |
||
| Document management | PaperClip Box.com |
||
| Financial planning | eMoney360 (eMoney Advisor) MoneyGuidePro (PIEtech Inc.) |
||
| Portfolio management | Albridge Wealth Reporting (Albridge, and affiliate of Pershing) Envestnet (Envestnet) Morningstar Advisor Workstation |
||
| Portfolio rebalancing | Advisor Rebalancing (Envestnet/Tamarac) Built in house/Proprietary |
||
| Robo-advice | |||
| Offers robo-advisory platform? | N | ||
| If not, when plans to offer a robo-platform | 1-2 years | ||
| Robo-advice services offered | — | ||
| How robo-platform developed | — | ||
| Charge for robo-advisory services? | — | ||
- Notes
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.
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