Principal Securities, Inc.

Principal Securities, Inc.

A subsidiary of Principal Life Insurance Co.

Share:

711 High St.

Des Moines, IA 50392

(888) 774-6267

principal.com

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: 598

For More Information

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

Recruitment & Staffing

2019 2018 2017
No. of reps1,7461,7821,691
No. of reps, male
No. of reps, female
No. of producing reps1,4061,5471,593
No. of producing reps, male
No. of producing reps, female
No. of reps producing $100K-$499K /year4544440
No. of reps producing $500K+ /year92710
No. of CFPs23500
No. of full-time employees289326295
No. of fee-based advisers served9759910
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 year835879Reps $879 Brokers $1,132
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
2019 2018 2017
Total revenues$320,669,984$316,187,460$299,698,627
Commission revenues$232,145,256$234,180,742$232,364,169
Securities revenues$2,414,793$3,944,250$3,440,131
Securities revenues: Stocks$1,459,686$2,885,265$2,703,666
Securities revenues: Bonds$119,644$102,471$107,681
Securities revenues: ETFs$514,184$563,869$307,505
Securities revenues: Other$321,279$392,645$321,279
Mutual fund revenues$64,503,588$65,629,430$64,381,076
Annuities revenues$55,120,974$70,431,979$75,678,829
Annuities revenues: Fixed0
Annuities revenues: Variable$55,120,974$48,120,959$49,018,840
Annuities revenues: Other00$26,659,989
Insurance revenue$27,739,045$25,120,599$17,345,670
Insurance revenues: Life$27,739,045$25,120,599$17,345,670
Insurance revenues: Disabilities
Insurance revenues: LTC
Insurance revenues: Other
Alternative revenues$37,153$19,0720
Alternative revenues: Hedge funds
Alternative revenues: Managed futures
Alternative revenues: Private placements
Alternative revenues: REITs
Alternative revenues: Other$37,153$19,072
Other commission revenues$82,329,804$91,365,504$71,518,463
Fee revenues$87,296,618$80,468,487$65,758,730
Fee revenues: Rep-managed accounts$49,301,056$47,060,806$39,778,443
Fee revenues: Firm-managed accounts$24,580,835$22,595,835$20,053,769
Fee revenues: Outside-managed accounts$12,096,260$9,949,830$5,392,777
Fee revenues: Other$1,318,467$862,016$533,741
Total revenues: Other$1,228,009$1,538,231$1,575,728
2019 2018 2017
Total account assets$67,868,637,853$54,305,196,294$53,859,076,946
Fee-based assets$9,677,961,211$7,670,785,857$7,076,258,780
Fee-based assets: Clearing firm$7,647,242,674$6,105,370,279$6,034,475,421
Fee-based assets: Advisory firm platforms000
Fee-based assets: Third-party money managers$1,652,634,210$1,121,281,311$827,992,008
Fee-based assets: Other$378,084,327$444,134,267$213,791,351
Total account assets: Other$58,190,676,642$47,078,544,704$46,996,609,517
Average assets per rep$38,870,927$30,474,296$31,850,430
Social Media & Mobile
Allows advisers to use social mediaY
Social media sites allowedFacebook
LinkedIn
Twitter
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-platform1-2 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.

Purchase the complete set of our independent broker-dealer data and profiles in an Excel spreadsheet.

For comments or suggestions about the Adviser Center, please contact us.

Disclaimer: All data and information is the property of InvestmentNews and is protected by copyright and other intellectual property laws. All rights are reserved by InvestmentNews. The data may only be used for internal business use such as to develop a mailing list but the data may not be resold, republished, redistributed, sublicensed or publicly displayed on a web site without the permission of InvestmentNews. All information contained within was obtained through InvestmentNews' annual independent B-D surveys.