Principal Securities, Inc.

Principal Securities, Inc.

A subsidiary of Principal Financial Services, Inc.


711 High St.

Des Moines, IA 50392

(888) 774-6267

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

For More Information

CEOMichael F. Murray
Recruiting ContactBetsy Jepsen
(515) 878-1704
Compliance ContactMeaghan Alvarez
(515) 248-0487
Marketing ContactCasey Mathias
(888) 774-6267
Technology Operations ContactJosh Nigg
(888) 774-6267

Recruitment & Staffing

2020 2019 2018
No. of reps1,7471,7461,782
No. of reps, male0
No. of reps, female0
No. of producing reps1,2821,4061,547
No. of producing reps, male0
No. of producing reps, female0
No. of reps producing $100K-$499K /year451454444
No. of reps producing $500K+ /year879271
No. of CFPs02350
No. of full-time employees329289326
No. of fee-based advisers served972975991
Average payout per rep, per year000
Avg. annual production of top 20% reps000
Total payout, per year000
Cost of E&O insurance per rep, per year$892.50835879
Affiliation fees charged per rep, per yearNoneNoneNone
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: Fixed00
Annuities revenues: Variable$51,406,850$55,120,974$48,120,959
Annuities revenues: Other000
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: Disabilities0
Insurance revenues: LTC0
Insurance revenues: Other0
Alternative revenues$9,487$37,153$19,072
Alternative revenues: Hedge funds0
Alternative revenues: Managed futures0
Alternative revenues: Private placements0
Alternative revenues: REITs0
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 platforms000
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 mediaY
Social media sites allowedFacebook
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)
Compliance software Protegent Surveillance (SunGard Data Systems Inc.)
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 (
SmartOffice (Ebix)
Document management PaperClip
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
Offers robo-advisory platform?N
If not, when plans to offer a robo-platform1-2 years
Robo-advice services offered
How robo-platform developed
Charge for robo-advisory services?
  • 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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