Principal Securities, Inc. (Des Moines)

Name: Principal Securities, Inc.
Address: 655 9 Th Street, Des Moines, IA, 50309
Telephone: 888-774-6267

Principal Securities, Inc. is a large advisory firm based in Des Moines. It manages $6.11 billion of regulatory assets for 31,797 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 47 other states.

Principal Securities provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 499 clients. On top of advisory services, the firm doesn't engage in other business activities.

Principal Securities: assets under management

The assets under management (AUM) of Principal Securities, Inc. is $6.11 billion. The firm's AUM has grown by 277% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.33 billion in discretionary accounts and $3.78 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $150.25 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $232.06 thousand.

Principal Securities has custody of $6.93 billion in cash and securities for 31,033 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 75% of the total AUM. The second-largest asset type is exchange traded securities, which make up 16% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Principal Securities, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Nora Mary Everett serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Nora Mary Everett is individuals with 25,690 clients and $4.55 billion of assets under management. Among the 9 most similar advisory firms, Principal Securities has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $6.1 billion for 26,641 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Principal Securities doesn't advise any private funds.

Careers at Principal Securities, Inc.

The company employs 1,603 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 1,453 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Nora Mary Everett has been acting as President since 1 Jun 2008. Amy Christine Friedrich joined the executive team most recently as the Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Principal Financial Services	Owner	1 Oct 2001	75% - 100%	42-1476367
Nora Mary Everett	Director	1 Jun 2008	Other	5511200
Nicholas Michael Cecere	Director/senior vice president	1 Jul 2011	Other	1513551
Gregory Bernard Elming	Director	1 Jan 2013	Other	1896297
Karen Elizabeth Shaff	Executive vice president/general counsel/secretary	1 Jan 2014	Other	4343508
Kara Marie Hoogensen	President/chief executive officer/chair	1 Feb 2015	Other	2782240
Julie Sinn Leclere	Senior vice president/managing director	1 Mar 2015	Other	2641189
Deanna Strablesoethout	Director	1 Apr 2015	Other	6467090
Jeffrey Alan Van Baale	Chief information officer	1 Apr 2015	Other	6476362
Scott Allen Christensen	Chief financial officer	1 Jun 2015	Other	6462933
Traci Lea Weldon	Senior vice president	1 Oct 2015	Other	2203819
Jennifer A R Litchfield	Vice president/chief compliance officer	1 Oct 2015	Other	5209574
Lee Marvin Harms	Chief information security officer	1 Jul 2016	Other	6663355
Gina Graham	Vice president and treasurer	1 Jan 2017	Other	6758164
Douglas Brian Hodgson	Vice president/chief compliance officer	1 Jul 2018	Other	5994479
Michael Francis Murray	President/chief executive officer/chair	1 Jul 2018	Other	2074275
Julia Marie Lawler	Director	1 Jul 2018	Other	4372586
Julie Sinn Leclere	Chief operations officer	1 Jan 2019	Other	2641189
Amy Christine Friedrich	Director	1 May 2019	Other	7097797

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Principal Financial Group Inc.	Owner	1 Oct 2001	75% - 100%	42-1476366

Based in Des Moines

The principal office where Principal Securities, Inc. performs its advisory services is located at 655 9 Th Street, Des Moines, IA 50309 The mailing address of the firm is 711 High Street, Des Moines, IA 50392 0200. An additional office of the firm is in Addison, TX. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 888-774-6267 or by fax 515-235-9235. The normal business hours are 8:00 - 5:00 on Monday - Friday. You can find more information about the New York firm at principal.com.