Reviews

This profile includes reviews for Principal Financial Group's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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Principal Financial Group has 46 locations, listed below.

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  Principal Financial Group

  711 High Street Des Moines, IA 50392-0001

  
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  Principal Financial Group

  575 7th St Des Moines, IA 50392-0002

  
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  Principal Financial Group

  4555 Lake Forest Drive Suite 230 Blue Ash, OH 45242

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  Principal

  Indianapolis, IN 46268

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  Principal Financial Group

  1110 Montlimar Dr Ste 250 Mobile, AL 36609

Review Details

• Review fromGabbie A

  Date: 08/08/2023

  1 star
  This is the worst financial institution I have ever worked with. My former employer used principal for 401(k) program. After being laid off, I needed to roll over my account to my new employer. receiving the checks was not difficult, but rolling them into my new 401(k) was made impossible by principle. They could not provide me with very standard documentation, called a letter of determination, which basically just proves that this is a valid 401(k) tax exempt account. I called probably upwards of 10 times and all they could tell me was that I needed to get this from my now former employer. my former employer, then had to go through a run around communicating with them, and finally getting the form from them and sending the form back to me. As I was trying to roll the funds into my new account at Fidelity, they did their best to accommodate, but the documentation the principal provided was completely inadequate. Since I already had the checks, I had no other option but to create a completely separate *** to roll the funds into. this was not worst case scenario, but principal could not have been any less helpful. These are standard financial documentations, and I am pretty sure that it is illegal to not provide this to your customers. avoid them at all costs. I am extremely lucky that their gross negligence did not cost me any penalties or tax implications.

• Review fromBonda B

  Date: 08/04/2023

  1 star
  I requested a withdrawal from this company July 10th, which was approved, but as of today (August 4) I still have not received my funds. I called the company on last Monday to inquire about the withdrawal and was told that an email was sent to me verifying that I wanted to withdraw the funds. After verifying, I was told it would take 1-2 bds to process and then 1-2 bds to be deposited into my account. I noticed they had a different bank listed so I called Principal and was told that I entered the information incorrectly and was given a sequence number to contact SC Fed CU. I contacted that bank to let them know I was provided a sequence ID number for funds sent to them, but I dont have an account. The representative told me she didn't see any funds coming in for the amount given and the sequence number. When I went back online to review the transaction, I noticed that my ****************** CU account number was listed but the bank name was SC Fed CU. I contacted Principal back and was told that the money came back and once process, a check would be mailed to me within 5-7 bds. I asked to speak with a supervisor and explained that this was an error on their part because I received a withdrawal from them earlier this year. The supervisor confirmed that my account was the same for the past 3 transactions, but this time the routing number changed. I advise the supervisor that I did not change the routing number, this was something done on their part because the request was made to have it direct deposit, and I didnt have to enter my bank information because it was already on file. The supervisor assured me that the funds were being processed so instead of me having to wait on mail, they would work on getting it sent to the correct account. I advised the supervisor that I was in need of the money by Aug 5th. As of today, Aug 4th, the money is not in my account and I was told it was just sent to my account. I am livid with this company and pulling out all funds.

• Review fromJames J

  Date: 08/01/2023

  1 star
  They charge fees to manage your money which is appropriate but then also charge $50 for every withdrawal or transfer.

• Review fromKristofer C

  Date: 07/23/2023

  1 star
  Worst experience closing down company 401k. They were slow, led to additional fees, and then were incorrect in their calculations costing even more fees. Do not use this company.

• Review fromJustin M

  Date: 07/18/2023

  1 star
  I am attempting to make a withdrawal of my 401k for a down payment of new home. Everyday they ask for some other document then say its not good enough. Then last week I got a email stating they need something else and need to provide by the end of the day or the request will be closed out. I called 20 minutes after this email and was told my request was closed out and that I need to start a new withdraw request. I am was so upset, now I have a new request processing and once again getting the run around. My loan closes in 12 days, and at this point I do not know if I will be able to close on it. This is my money, give it to me!!!!!!

• Review fromBrandon D

  Date: 07/18/2023

  1 star
  Believe that a company that was started in 2023 and no information had been sent to me by mail about my 401k and it being automatically taken out of my account. In this matter I tried to contact the company with nothing helpful. They informed me I was past the deadline for me to pull the money being taken from me without any knowledge.

• Review fromRyan K

  Date: 07/17/2023

  1 star
  I asked them to transfer my IRA to my Roth IRA at a different firm. They said ok we can do that. I waited for over two months for them to transfer and just today they say oh wait we can't do that. I can't believe it took two months to tell me that. These people are inept. I might sue them for the time I've lost in the market. Market has gone up 20 percent.

• Review fromPorsche E

  Date: 07/13/2023

  1 star
  Horrible, deceitful insurance company. Enrolled through employer. Poor decision I made. The company does NOT pay for pre-authorization claims. Office sent over numerous of claims various dates. The company response is that they didn't receive any claims. How so when it was electronically sent over consistently. Not a credible source.!! Fraudulent business that needs to be prohibited!! This entire company are con artists!

• Review fromLisa D

  Date: 07/07/2023

  1 star
  The left hand doesn't seem to know what the right hand is doing. I had to send them their own correspondence to get clarification on my pension fund. My call was forwarded to 4 different people who gave inconsistent responses. Still waiting to get clarification. The customer service person told me that according to my plan I cannot access my own statements, which from my understanding would be a federal offense according to ERISA! Will see if this ever gets resolved!

• Review fromDelores D

  Date: 07/07/2023

  1 star
  I requested my own funds for a vacation I was taking, had to call 7 times to get a spousal concent form to them because none of THEIR methods were available or working. Was told I was finally all set and I had to "wait 7 business days" at the end of 7 business days, while I was already on vacation I still did not have the funds in my account. Called and had to speak to a manager several times becuase they claimed they had no record of my form coming in. It is now Friday I have two days left of my vacation which is now ruined becuase I don't have MY money I needed to be able to do the things we wanted to do on vacation. I will be moving all of my funds immediately!