Edelman Financial Engines Working with Principal® to Offer Comprehensive Financial Help to Employees

Edelman Financial Engines, America’s top independent financial planning and investment advisor, has been selected by Principal Financial Group®, a global leader in retirement plan services, to offer personalized retirement advice and financial wellbeing guidance to select large employers on its recordkeeping platform.  The relationship, which launched last month, adds to robust wellness offerings from Principal by providing access to Edelman Financial Engines’ national network of financial planners, for in-person and virtual advice in addition to a broad array of financial education tools and online advice.

A recent Edelman Financial Engines survey found that 84% of workers1 would value a financial advice benefit from their employer. The relationship addresses this growing demand by complementing existing offerings through Principal to provide personalized retirement advice as well as guidance on day-to-day budgeting, debt management and dozens of other financial topics that affect long-term financial security. All advice will be offered by Edelman Financial Engines without conflict from product sales or commission-paid advisors.

“We’re honored to support over 10 million American workers on a journey towards greater financial wellbeing and retirement readiness,” said Kelly O’Donnell, Executive Vice President at Edelman Financial Engines and head of the firm’s workplace business. “Alongside Principal, a leader in providing best-in-class recordkeeping and wellness solutions, we have a great opportunity to further expand access to high-quality, independent financial help to more employers and their employees.”

Principal is a top three defined contribution recordkeeper and a leader in the industry, serving more than seven million retirement plan participants and individual clients.2

“Employers are continuing to search for solutions that help improve financial wellbeing for their workers and guide them in retirement planning,” said Jerry Patterson, senior vice president, Retirement and Income Solutions at Principal. “By utilizing Edelman Financial Engines services we’re able to help employers provide additional advice, educational resources and support, particularly during such a pivotal time in their employees’ financial planning.”


About Principal Financial Group®

Principal Financial Group® (Nasdaq: PFG) is a global financial company with 17,000 employees3 passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we’re helping more than 34 million customers4 plan, insure, invest, and retire, while working to support the communities where we do business, improve our planet, and build a diverse, inclusive workforce. Principal® is proud to be recognized as one of the World’s Most Ethical Companies5, a member of the Bloomberg Gender Equality Index, and a Top 10 “Best Places to Work in Money Management6.” Learn more about Principal and our commitment to sustainability, inclusion, and purpose at principal.com.

Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., 800-247-1737, member SIPC and/or independent broker/-dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, Iowa 50392.

1. “Closing the Financial Advice Gap”, Edelman Financial Engines white paper, 2019.

2. By number of 401(k) plans PLANSPONSOR Recordkeeping Survey, July 2020. Principal and Wells Fargo IRT combined Plansponsor.com data as of July 2020. Future market share is subject to change and will not be updated until next release of applicable data.

3. As December 31, 2020

4. As December 31, 2020

5. Ethisphere Institute, 2021

6. Pensions & Investments, 2020


About Edelman Financial Engines

Since 1986, Edelman Financial Engines has been committed to always acting in the best interests of our clients. We were founded on the belief that all investors – not just the wealthy – deserve access to personal, comprehensive financial planning and investment advice. Today, we are America’s top independent financial planning and investment advisory firm, recognized by Barron's1 with 145+ offices2 across the country and entrusted by 1.3 million clients to manage more than $245 billion in assets.3 Our unique approach to serving clients combines our advanced methodology and proprietary technology with the attention of a dedicated personal financial planner. Every client’s situation and goals are unique, and the powerful fusion of high-tech and high touch allows Edelman Financial Engines to deliver the personal plan and financial confidence that everyone deserves. For more information, please visit EdelmanFinancialEngines.com.

1. The Barron’s 2023 Top 100 RIA Firms list, a ranking of independent advisory firms in its eighth year, is qualitative and quantitative, including assets managed by the firms, technology spending, staff diversity, succession planning and other metrics. Firms elect to participate but do not pay to be included in the ranking. Ranking awarded each September based on data within a 12-month period. Investor experience and returns are not considered.

2. Edelman Financial Engines data, as of Dec. 31, 2022.

3. Edelman Financial Engines data, as of September 30, 2023.

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