Broker-dealer firm · DES Moines, IA
Principal Securities, Inc.
SEC-registered investment adviser · CRD 1137 · SEC 801-54949
At a glance
Principal Securities, Inc. is an SEC-registered investment adviser based in DES Moines, Iowa, with $17.0 billion in regulatory assets under management as of its Form ADV filed March 30, 2026. Its largest client group by assets is individuals, and it reports 51,650 individual clients. By Form ADV it is a broker-dealer firm, ranked 51st of 391 broker-dealer firms and 970th of 17,210 SEC-registered advisers by assets.
Main office 888-774-6267principal.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $17B
- Rank among broker-dealer firms
- #51 of 391
- Rank among all SEC RIAs
- #970 of 17,210
- Rank in Iowa
- #7 of 91
- Individual clients
- 51,650
- High-net-worth clients
- 2,638
- Accounts
- 68,981
- Discretionary
- 83% of AUM
- Employees
- 1,464
- Advisory staff
- 1,464
- Offices
- 359
Owners and executives on its Form ADV
- Michael Francis MurrayPresident/chief Executive Officer/chair
- Amy Christine FriedrichDirector
- Douglas John RantsChief Information Security Officer
- Craig Alan SpadaforaSenior Vice President / Head of Advisory and Platform
- Chad Thomas ClaireChief Information Officer
- Daniel Simon VanwinklePSI AML Officer
- Kenneth Allen McCullumDirector
- Thomas John DroganChief Compliance Officer
- Cody Anthony LawlerHead of Supervision, Head of Operations
- Nathan Paul SchelhaasDirector
- Dawn Marie RobertsChief Financial Officer
- Vivek AgrawalDirector
Custody and brokerage
Broker-dealer
Hybrid RIA
Principal Securities, Inc. is a hybrid RIA: 1,424 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: Principal Funds Distributor, Inc. and Sami Brokerage LLC.
- Principal Funds Distributor, Inc. ↗CRD 43261
It doesn’t hold client accounts or customer funds itself. Its annual audited report filed with the SEC, March 2026
- Sami Brokerage LLC ↗CRD 18217
An introducing broker-dealer: its trades clear through National Financial Services (Fidelity), which holds the brokerage accounts. Its annual audited report filed with the SEC, March 2026
Its Form ADV brochure (filed March 2026) names Principal Securities as the broker-dealer its advisers are registered with.
Securities, advisory products, and brokerage services are offered through Principal Securities, Inc., Member SIPC. ii MM10943C-19
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Individuals | 49,012 | $11B | 66% |
| High-net-worth individuals | 2,638 | $5.5B | 32% |
| Corporations or other businesses | 221 | $189M | 1% |
| Charitable organizations | 41 | $78M | <1% |
| Pension and profit sharing plans | 29 | $20M | <1% |
Disciplinary disclosures
Principal Securities, Inc. answers yes to 16 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for businesses and institutions
- Pension consulting
- Selecting other advisers
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗principal.com ↗
AtlasMembers
The full record on Principal Securities, Inc.
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 59 peers of its type and size
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- Owners and executives, with titles and stakes
- 12 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 3Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Principal Securities, Inc. manage?
Principal Securities, Inc. reports $17.0 billion in regulatory assets under management across 68,981 accounts, 83% of it on a discretionary basis, on its Form ADV filed March 30, 2026.
What kind of firm is Principal Securities, Inc.?
Principal Securities, Inc. is a broker-dealer firm by its Form ADV answers. The firm is itself registered as a broker-dealer as well as an investment adviser. It reports a bank or thrift among its related persons. A public reporting company controls it.
Who are Principal Securities, Inc.’s clients?
By assets, its largest client types are individuals ($11.2 billion, 49,012 clients); high-net-worth individuals ($5.5 billion, 2,638 clients); corporations or other businesses ($189 million, 221 clients).
Does Principal Securities, Inc. have any disciplinary history?
Principal Securities, Inc. answers yes to 16 disclosure items in Item 11 of Form ADV, which covers criminal, regulatory and civil matters involving the firm or its advisory affiliates. The details are on the SEC’s adviser search.
Where these numbers come from
Every figure is Principal Securities, Inc.’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-03-30), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →