Principal Global Investors, LLC (Des Moines)

Name: Principal Global Investors, LLC
Address: 801 Grand Ave, Des Moines, IA, 50392
Telephone: 800-533-1390

Principal Global Investors, LLC is a large advisory firm based in Des Moines. It manages $295.98 billion of regulatory assets for 16,121 client accounts. It has been registered with the SEC as an adviser since 2002 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Principal Global Investors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, educational seminars and workshops, and spread lending management and advice; asset allocation services; providing model portfolios. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Principal Global Investors: assets under management

The assets under management (AUM) of Principal Global Investors, LLC is $295.98 billion. The firm's AUM has grown by 378% since the beginning of its operation, and $29.51 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $235.88 billion in discretionary accounts and $60.1 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $14.64 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $4.62 billion.

Principal Global Investors has custody of $410.81 million in cash and securities for 1 client in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 34% of the total AUM. The second-largest asset type is other assets, which make up 15% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Principal Global Investors, LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based 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 Karen Elizabeth Shaff serves?

The firm provides services to individuals, insurance companies, investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, banking or thrift institutions, corporations or other businesses, pension and profit sharing plans, state or municipal government entities, and sovereign wealth funds and foreign official institutions. The largest group of clients of Karen Elizabeth Shaff is investment companies with 39 clients and $142.55 billion of assets under management. Among the 9 most similar advisory firms, Principal Global Investors has the 4th highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $295.98 billion for 16,119 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 Global Investors also advises several private funds. Namely, two other private funds. The minimum investment commitment required of non-related persons is $500,000 for each fund.

Careers at Principal Global Investors, LLC

The company employs 1,776 people that are either part- or full-time employees. 32 percent of the employees work as investment advisers or researchers. 58 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Karen Elizabeth Shaff has been acting as President since 1 Nov 2002. Ellen W Shumway joined the executive team most recently as the Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Principal Life Insurance Company	Sole member, 100% ownership	1 Sep 1998	75% - 100%	42-0127290
Dennis Paul Francis	Executive director	1 Sep 1998	Other	4343489
Richard W Hibbs	Executive director	1 Sep 1998	Other	874204
Gregory Charles Hauser	Executive director	1 Sep 1998	Other	4372550
Tim Howald	Executive director	1 Nov 1998	Other	3070136
William Cornelius Scales	Executive director	1 Feb 1999	Other	2860861
John Barry Griswell	Board chairman	1 Mar 1999	Other	872493
Richard William Waugh	Managing director	1 Nov 1999	Other	4372103
Randall Craig Mundt	Senior executive director - real estate	1 Sep 2000	Other	4372105
Rollin Clark Woltjen	Executive director	1 Sep 2000	Other	471679
Gloria Darlene Reeg	Executive director	1 Feb 2002	Other	4521678
James Patrick Mccaughan	Chief executive officer	1 Apr 2002	Other	3074797
Michael Dennis Roughton	Counsel	1 Oct 2002	Other	2136236
Karen Elizabeth Shaff	Director	1 Nov 2002	Other	4343508
Larry Donald Zimpleman	Director	1 Nov 2002	Other	2583691
Patrick Gregory Halter	Executive director	1 Jun 2003	Other	4372565
Michael Migro	Executive director	1 Jun 2003	Other	4518525
David Michael Blake	Executive director	1 Feb 2004	Other	1836343
David Michael Blake	Senior executive director - fixed income	1 Mar 2004	Other	1836343
Jerald Lee Bogart	Executive director	1 Aug 2004	Other	1700772
Timothy Mark Dunbar	Executive director	1 Oct 2004	Other	4890244
David Linn Reichart	Executive director	1 Apr 2005	Other	3188421
Barbara Mckenzie	Senior executive director/chief operations officer - boutique operations	1 May 2005	Other	4355260
Patrick James Mcnelis	Executive director	1 Mar 2006	Other	1260939
Jill Hittner	Executive director/chief financial officer	1 Mar 2007	Other	5309846
Jeffrey Hiller	Chief compliance officer-global	1 Apr 2007	Other	2612970
Minoo Seraji Spellerberg	Chief compliance officer - north america	1 Aug 2007	Other	2756308
Patrick Gregory Halter	Senior executive director - real estate	1 Mar 2008	Other	4372565
Hazel Mcneilage	Executive director	1 Mar 2008	Other	4339908
Larry Donald Zimpleman	Board chairman	1 Jun 2008	Other	2583691
John Barry Griswell	Director	1 Jun 2008	Other	872493
Daniel Joseph Houston	Director	1 Dec 2015	Other	1354200
Michael Jon Beer	Executive director - funds	1 Nov 2016	Other	2007424
Andrew John Donohue	Chief compliance officer	1 Jan 2017	Other	2783317
Principal Global Investors Holding Company (Us) Llc	100% owner	1 May 2017	75% - 100%	81-5287564
Timothy Mark Dunbar	Director	1 Oct 2018	Other	4890244
Ellen W Shumway	Director	1 Nov 2018	Other	5590172

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Principal Financial Group	100% owner	1 Oct 2001	75% - 100%	42-1520346
Inc. Principal Financial Services	100% owner	1 Oct 2001	75% - 100%	42-1520348
Inc. Principal Financial Services	100% owner	1 May 2017	75% - 100%	42-1520348

Based in Des Moines

The principal office where Principal Global Investors, LLC performs its advisory services is located at 801 Grand Ave, Des Moines, IA 50392 The mailing address of the firm is 711 High Street, Des Moines, IA 50392. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 800-533-1390 or by fax 866-850-4024. The normal business hours are 8:00a.m. - 5:00p.m. on Monday - Friday. You can find more information about the New York firm at macrocurrencygroup.com/.