Principal expands Direct-to-Consumer IRA offering
Principal Financial Group launched Principal SimpleInvest, the company’s new digital advice program that provides retirement savers with access to personalized investment advice online as well as guidance from financial professionals. This complements Principal’s lineup of retirement offerings for consumers and brings an additional option to those who want a more digital experience.
Principal® SimpleInvest uses mutual funds and ETFs managed by Principal Global Investors as well as the trading services of RobustWealth – a digital wealth management firm acquired by Principal in 2018. Together they bring roughly 69,000 different portfolios that combine both active and passive investments to investors with a minimum of $1,000 to invest.
“Our focus at Principal is on helping people save enough now to have enough for their future, and digital solutions are just one more way we can do that. Principal SimpleInvest combines very sophisticated technology with a human connection intended to offer meaningful financial guidance to help people – at any place in their savings journey – save enough for their future needs. Principal SimpleInvest was built for our customers who want choices, experiences and personalized investment advice that meets them where they are, as well as technology that helps their portfolio stay aligned with their financial goals.” – Mamadou Sow, Head of Direct to Consumer at Principal.
The program was first offered as an IRA rollover option for former Principal 401(k) plan participants. It’s the latest Principal offering building on the firm’s goal of improving retirement outcomes for all, following its acquisition of Wells Fargo’s retirement business earlier this year.
Key features include digital, personalized investment portfolio creation and management; financial guidance with a team of advice and planning consultants; and access to financial wellness courses/tools. Principal SimpleInvest accounts are professionally managed, pairing financial technology with a team of investment adviser representatives who can assist with portfolio questions.
Principal SimpleInvest is a digital platform available to customers online with chat and phone support options available.
