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New White Paper Helps Financial Professionals Get the Most out of Retirement Plan Provider Searches

Best practices from The Principal help financial pros showcase their value

January 18, 2011 (Des Moines, IA) - Financial professionals play an important role during the search for a new retirement plan service provider but the plan sponsor client may not always recognize their efforts.

A new white paper from the Principal Financial Group®, Best Practices: Making it Personal when Conducting Provider Searches for Plan Sponsor Clients (PDF: 290 KB), offers insight that can help financial professionals showcase their expertise and set the stage for an effective, strategic search process.

“If the desired outcomes of a search aren’t identified at the outset, the selection process can be difficult and frustrating for the plan sponsor,” said Tim Minard, senior vice president of retirement distribution at The Principal®. “Financial professionals can add tremendous value by ensuring the search process is strategic and deliberate. This white paper outlines the steps to take.”

The paper identifies six key steps to conducting service provider searches from the initial contact to the final selection. The report provides an in-depth discussion of best practices and emphasizes the importance of customizing the search for each client and his or her retirement program.

“Every retirement plan has unique needs and specific objectives that need to be considered when looking for a new provider,” said Todd Timmerman, CEBS, managing director at The Principal and author of the white paper.

“Ultimately our objective is to help financial professionals and their plan sponsor clients make the best decision for their employee participants—one that helps participants reach their retirement readiness goals.”

The Principal also offers a supplemental guide with resources financial professionals can use to customize each search and implement best practices outlined in the white paper. The white paper is available at

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About the Principal Financial Group

The Principal Financial Group® (The Principal®)[1] 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. A member of the Fortune 500, the Principal Financial Group has $305.7 billion in assets under management[2] and serves some 18.9 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.


"The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
As of Sept. 30, 2010.

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