Broker-Dealer of The Principal Ranks in Top 10
August 2, 2007 (Des Moines, Iowa) — The broker-dealer company of the Principal Financial Group® was ranked 10th out of 50 broker-dealers across the nation based on the number of its registered representatives who produced more than $100,000. Princor® Financial Services Corporation achieved the top 10 ranking in a survey published by InvestmentNews, a weekly newspaper for financial professionals. Princor Financial Services Corporation offers investment products through 2500 registered reps and is a member of the Principal Financial Group, the nation's 401(k) leader1 and a leading global asset manager.
"The Principal® offers financial professionals world-class investment management, comprehensive asset allocation solutions, and an exceptional array of retirement-focused investment products. This ranking is a testament to our commitment to help financial professionals grow their businesses," says Mike Beer, president of Princor Financial Services. "We provide the tools and services our financial professionals need to build relationships and attract new clients. Our state-of-the-art investment technology helps them be more productive, so they can focus on their most important job: serving their clients."
"We focus on registered reps who have a high level of commitment to the profession and their clients, and we help them open new markets with confidence," adds Bret Bussanmas, vice president of Sales and Marketing-Princor Financial Services. "The rollover market, for example, is huge and growing, but this type of business can present unique challenges for financial professionals. We offer a comprehensive rollover program to give our financial professionals a competitive edge in this market."
Individual Retirement Account (IRA) rollovers were estimated to top $221 billion in 2006 alone, and to nearly double by 20102. The company's rollover program gives financial professionals specialized training in the complex rollover sales process. Financial professionals can attend an all-day leadership conference with renowned IRA expert Ed Slott, receive ongoing support from a dedicated team of rollover specialists with The Principal, gain prospecting and sales ideas, and access easy-to-use marketing materials.
Bussanmas says The Principal also provides tools and resources, such as retirement income training and a dedicated advanced retirement team, to help financial professionals transition their Baby Boomer clients into retirement.
About the Principal Financial Group
The Principal Financial Group® (The Principal®)3 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies and national network of financial professionals. A member of the Fortune 500, the Principal Financial Group has $282.1 billion in assets under management4 and serves some 18.1 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
Insurance products and services issued by Principal Life Insurance Company.
1) The Principal ranks number one in total plans for all asset sizes among fully bundled 401(k) providers-2006 Spectrem Group analysis of fully-bundled 401(k) providers (companies that provide both administrative and investment services).
2) Cerulli Associates
3) "The Principal Financial Group" and "The Principal" are registered trademarks of Principal Financial Services, Inc., a member of the Principal Financial Group.
4) As of June 30, 2007.
