Principal Securities, Inc.

• A percentage of assets under your management
• Hourly charges
• Fixed fees (other than subscription fees)
• Other

Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ

The brochure lists different fees for different services or strategies. See the firm's brochure (dated March 30, 2026) for its fees and any account minimum, on the SEC's IAPD site.

$17,024,265,096 as of October 2026, filing dated March 30, 2026.

A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means

A firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.

• Financial planning services
• Portfolio management for individuals and/or small businesses
• Portfolio management for businesses (other than small businesses) or institutional clients
• Pension consulting services
• Selection of other advisers (including private fund managers)
• Educational seminars/workshops

Registration

SEC-registered investment adviser. Status as filed: Approved.

Registered since

1997 (28 years)

Employees

Total: 1,464. Performing investment advisory functions: 1,464.

Wrap fee program participation

Yes.

Custodians (Schedule D, Section 5.K(3))

National Financial Services LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

Other offices (Schedule D, Section 1.F)

25 other offices, as of the April 2026 filing

Addison, TXAtlanta, GABettendorf, IABirmingham, ALCharlotte, NCChesterfield, MODenver, CODowners Grove, ILElkhorn, NEGrand Rapids, MIHiawatha, IAHouston, TXJacksonville, FLLake Elmo, MNMelville, NYMinnetonka, MNOverland Park, KSRaleigh, NCRoseville, CASan Diego, CASioux Falls, SDTampa, FLWauwatosa, WIWayne, PAWest des Moines, IA

States registered or notice-filed

51 states or jurisdictions

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SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration

9 Reports 9 disclosure items on Form ADV Item 11. View on IAPD.

Questions answered yes on this filing

Regulatory matters Items 11.C to 11.G

• 11.C(1) Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?
• 11.C(2) Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
• 11.C(4) Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
• 11.C(5) Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?
• 11.D(1) Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?
• 11.D(2) Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
• 11.D(4) In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?
• 11.D(5) Has another federal regulator, a state regulator, or a foreign financial regulator ever denied, suspended, or revoked the registration or license of the firm or an advisory affiliate, prevented either by order from associating with an investment-related business, or restricted either one's activity?
• 11.E(2) Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. What happened, and who was involved, is on the Disclosure Reporting Pages of the IAPD record. Reading a firm's disclosures

Regulatory assets under management: $9,321,392,748 in the October 2021 data and $17,024,265,096 in the October 2026 data, up 83%.

Total employees: 1,536 in October 2021 and 1,464 in October 2026.

As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.

1. April 2026
   • Employees performing advisory functions went from 1436 to 1464.
   • Regulatory assets under management went from $14,827,718,110 to $17,024,265,096 (+15%).
   • Added an office in Addison, TX.
   • Added an office in Bettendorf, IA.
   • Added an office in Birmingham, AL.
   • Added an office in Chesterfield, MO.
   • Added an office in Denver, CO.
   • Added an office in San Diego, CA.
   • No longer lists an office in Amherst, NY.
   • No longer lists an office in Bethesda, MD.
   • No longer lists an office in Miami, FL.
   • No longer lists an office in Minneapolis, MN.
   • No longer lists an office in Phoenix, AZ.
   • No longer lists an office in Raleigh, NC.

Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.