Clients
Principal Securities serves 51,941 clients, 49,012 of them other individuals. The average client has about $328,000 with the firm, and high-net-worth clients hold 32% of its $17 billion in assets.
- Individuals49,012 clients66%
- High-net-worth individuals2,638 clients32%
- OtherPension and profit-sharing plans, Charitable organizations, Corporations and other businesses2%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 49,012 | $11,210,384,605 | 65.8% | $229K |
| High-net-worth individuals | 2,638 | $5,526,773,865 | 32.5% | $2.10M |
| Pension and profit-sharing plans | 29 | $20,275,532 | 0.1% | $699K |
| Charitable organizations | 41 | $77,662,755 | 0.5% | $1.89M |
| Corporations and other businesses | 221 | $189,168,339 | 1.1% | $856K |
| Total | 51,941 | $17,024,265,096 | 100% | $328K |
- Clients
- 49,012
- Regulatory AUM
- $11,210,384,605
- Share
- 65.8%
- Avg. per client
- $229K
- Clients
- 2,638
- Regulatory AUM
- $5,526,773,865
- Share
- 32.5%
- Avg. per client
- $2.10M
- Clients
- 29
- Regulatory AUM
- $20,275,532
- Share
- 0.1%
- Avg. per client
- $699K
- Clients
- 41
- Regulatory AUM
- $77,662,755
- Share
- 0.5%
- Avg. per client
- $1.89M
- Clients
- 221
- Regulatory AUM
- $189,168,339
- Share
- 1.1%
- Avg. per client
- $856K
Total
- Clients
- 51,941
- Regulatory AUM
- $17,024,265,096
- Share
- 100%
- Avg. per client
- $328K
What it does
Principal Securities provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers and educational seminars. It is paid through a percentage of assets, hourly charges, fixed fees and other arrangements.
Principal Securities provided financial planning to 1,000 clients last fiscal year and advises no private funds.
83.1% of assets ($14.15B across 60,057 accounts) are managed with discretion; $2.88B across 8,924 accounts are not. $14.13B sits in a wrap fee program the firm both sponsors and manages. 0% of clients are outside the U.S., and 1,717 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks15%
- Exchange-traded equities14%
- Non-exchange-traded equities1%
- Funds76%
- Registered funds75%
- Pooled vehicles1%
- Bonds4%
- U.S. government and agency bonds1%
- State and local bonds1%
- Investment grade corporate bonds1%
- High-yield corporate bonds1%
- Cash4%
- Other1%
- Reits1%
Custodians
Principal Securities’ client accounts are held mainly at Fidelity, with 99% of managed assets. Principal Securities has custody of $17.02B for 51,941 clients.
- FidelityNational Financial Services LLC · Boston, MA · $16.81B99%
- All other custodians$216.2M1%
Ownership and leadership
Principal Financial Services owns 75% or more of Principal Securities, and Michael Francis Murray is its CEO.
- Owns 75% or more of Principal Securities, Inc.
Principal Financial Services,
Control person · since October 2001
- Owns 75% or more of Principal Securities, Inc.
Principal Financial Services, Inc.
Control person · since October 2001
- Owns 75% or more of Principal Financial Services, Inc.
Principal Financial Group Inc.
Control person · since October 2001
Leadership
- Michael Francis MurrayPresident/Chief Executive Officer/Chair
- Craig Alan SpadaforaSenior Vice President /
- Dawn Marie RobertsChief Financial Officer
- Thomas John DroganChief Compliance Officer
- Vivek AgrawalDirector
- Chad Thomas ClaireChief Information Officer
- Amy Christine FriedrichDirector
- Cody Anthony LawlerHead of Supervision, Head of Operations
- Kenneth Allen McCullumDirector
- Douglas John RantsChief Information Security Officer
- Nathan Paul SchelhaasDirector
- Daniel Simon VanwinklePsi Aml Officer
Staff
- 1,464 employees
- 1,464 in advisory functions
- 1,395 state-registered reps
- 1,424 broker-dealer reps
- 1,004 insurance agents
- 10 soliciting firms
Reported holdings
Principal Securities’ reported 13F holdings total $8.31B across 1,539 positions, and the ten largest make up 24.2% of it.
- $8.31B
- Reported 13F value
- 1,539
- Positions
- 24.2%
- In the 10 largest
- +21.8%
- Value vs. prior quarter
- Principal Exchange Traded FD · Intl Equity ETF4.8%
- Principal Exchange Traded FD · US Mega CP ETF4.3%
- iShares TR · Core S&P500 ETF3.4%
- Principal Exchange Traded FD · Cap App Sel ETF2.3%
- Principal Exchange Traded FD · Prin U S Small2.1%
- Principal Exchange Traded FD · Focu Blue CH ETF1.9%
- Principal Exchange Traded FD · Prnc Invt Grad1.6%
- Goldman Sachs ETF TR · Marketbeta US EQ1.5%
- Nvidia Corporation1.2%
- Apple Inc.1.2%
Together, the ten largest are 24.2% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $8.31B is not its $17.02B in regulatory assets and does not represent any individual client's portfolio.
Fees
Principal Securities is paid through a percentage of assets under management, hourly charges, fixed fees (other than subscription fees) and other.
Principal Securities’ fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Principal Securities has 358 offices, with 26 listed addresses across 18 states.
Iowa · 4 listed addresses
- 711 High Street, Des MoinesHQ
- 6701 Westown Pkwy, West Des Moines
- 1059 Longfellow DR Ste A, Hiawatha
- 5207 Competition DR, Bettendorf
California · 2 listed addresses
- 1478 Stone Point DR, Roseville
- 4370 La Jolla Village DR Ste 1025, San Diego
Florida · 2 listed addresses
- 4830 W Kennedy BLVD, Tampa
- 7077 Bonneval RD, Jacksonville
Minnesota · 2 listed addresses
- 8530 Eagle Point BLVD, Lake Elmo
- 11100 Wayzata BLVD, Minnetonka
North Carolina · 2 listed addresses
- 401 McCullough DR Ste 200, Charlotte
- 4141 Parklake Ave, Raleigh
Texas · 2 listed addresses
- 1900 West Loop S Ste 650a, Houston
- 5080 Spectrum DR, Addison
Alabama · 1 listed address
- 3500 Blue Lake DR, Birmingham
Colorado · 1 listed address
- 4600 S Syracuse ST, Denver
Georgia · 1 listed address
- 3625 Cumberland BLVD Se, Atlanta
Illinois · 1 listed address
- 3333 Finley RD Ste 500, Downers Grove
Kansas · 1 listed address
- 11101 Switzer RD Ste 100, Overland Park
Michigan · 1 listed address
- 3196 Kraft Ave Se, Grand Rapids
Missouri · 1 listed address
- 16305 Swingley Ridge RD, Chesterfield
Nebraska · 1 listed address
- 18205 Capitol Ave, Elkhorn
New York · 1 listed address
- 48 S Service RD, Melville
Pennsylvania · 1 listed address
- 550 E Swedesford RD, Wayne
South Dakota · 1 listed address
- 4910 S Isabel PL Ste 100, Sioux Falls
Wisconsin · 1 listed address
- 10361 W Innovation DR, Wauwatosa
Registration details
- Legal name
- Principal Securities, Inc.
- Headquarters
- 711 High Street, Des Moines, IA 50392
- Phone
- 888-774-6267
- Website
- www.principal.com
- SEC file
- 801-54949
- Structure
- Iowa corporation
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Principal Securities have?
Principal Securities has 51,941 clients and manages $17 billion for them, as of March 2026. They include 49,012 other individuals, 2,638 high-net-worth individuals and 221 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026
What services does Principal Securities offer?
Principal Securities provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Principal Securities use?
Principal Securities’ separately managed account assets are held at National Financial Services LLC (Boston, MA), with $16,808,044,743. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026
How many financial advisors does Principal Securities have?
Principal Securities has 1,395 investment adviser representatives registered with state securities authorities, out of 1,464 employees, and 1,464 perform investment advisory functions. 1,424 are registered representatives of a broker-dealer and 1,004 are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Principal Securities invest in?
At the end of its last fiscal year, Principal Securities’ separately managed accounts held 75% registered funds (mutual funds, ETFs, BDCs), 14% exchange-traded equities, 4% cash and equivalents, 1% non-exchange-traded equities, 1% U.S. government and agency bonds, 1% state and local bonds, 1% investment grade corporate bonds, 1% high-yield corporate bonds, 1% pooled vehicles (private funds and similar) and 1% reits. It advises no private funds of its own.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Principal Securities?
Principal Securities is owned through a holding company by Principal Financial Group Inc. Its direct owners are Principal Financial Services (75% or more) and Principal Financial Services, Inc. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 30 March 2026
How does Principal Securities get paid?
Principal Securities is paid through a percentage of assets under management, hourly charges, fixed fees and other arrangements. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file