Principal Financial Reviews

Pros

Great Benefits, Competent Management at all levels

Cons

Difficult back office and paperwork

Advice to Senior Management

Simplify back office ans paperwork

Pros

Good opportunity to learn business
Salary is good.

Cons

Senior Leadership is not matured.
lack in Governance.

Pros

Principal has a good 401k platform, and they have some decent funds. If you sell life insurance and annuities, you can make some money. If you sell investments, you won't.

Cons

Principal takes no risk in their agents. You pay for everything and get a very low payout. You pay your rent, secretary, copier and all other expenses. They provide insurance and investments. They also don't match your 401k when you sell funds or other investments through their brokerage.

Advice to Senior Management

Take some investment in the people who keep this company running -- the agents. The agents should also be rewarded when they sell Principal funds with a 401k match.

Pros

Freedom and Benefits
Financial assistance for a few months

Cons

Poor training, no incentives to succeed

Advice to Senior Management

Train, provide leads and more support in helping one get started.

Pros

Excellent benefits, and competitive salaries.

Cons

Once you are out of training, you are not supported.

Advice to Senior Management

Do a better job of slotting people to jobs they are qualified for.

Pros

great history of service in the financial services arena, top 401k host in the USA, PFG has some great products

Cons

unbelievable regulatory burden that results in the typical employee spending a silly amount of time watching everything said, done or written with client interaction. this is common to most large financial services firms.

Pros

Lots of opportunities for advancement. Promote a work life balance. Great salary and benefits package. Leadership shows they care about their employees.

Cons

There are no downsides to working at Principal Financial Group. It is a great company to work for and I would recommend PFG to many other professionals.

Advice to Senior Management

Continue to do what you do. The support that leadership provides to their direct reports is second to none. Great job.

Pros

Much better professional development than is available at other financial-services companies. Principal spends a lot of time marketing new reps.

Cons

It's a pure sales job, no way around that. You're given about six months to find your stride, otherwise you're out.

Advice to Senior Management

Upper management was in a state of flux. Regional managers are hands on and supportive, and want their recruits succeed.

Pros

Salary and benefits were good

Cons

Lousy, timid, self-serving management, tolerates unethical sales practices, weak leaders

Advice to Senior Management

Dissolve the old-boy network in Des Moines and dump the management in El Dorado Hills, Cal.

Pros

competitive benefits pagackage & pay, flexible work environment

Cons

field sales office does not to promote career advancement

Advice to Senior Management

Great work!