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Updated September 24, 2026. Quick answer: Principal Securities is registered with the SEC as both a broker-dealer and an investment adviser. Per its own current fee brochure, a $500,000 account would run $8,750 a year under its published fee schedule; the minimum to open an account is no fixed published minimum for SEI Investment Management Corporation Client Fee Schedule (TPMM Program, Managed Account Solutions). Is it a fiduciary? Yes, when it is acting as your investment adviser; when the same representative acts as your broker-dealer instead, the applicable standard is best-interest, not fiduciary, and its own Form CRS states representatives can earn commissions in that capacity.
Principal Securities at a glance
| Fact | What Principal Securities’ own pages say |
|---|---|
| Legal entity | Principal Securities, Inc. |
| Registration | Principal Securities, Inc. is registered with the Securities and Exchange Commission (SEC) as both a broker-dealer and an investment adviser and is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). |
| Fee on a $500,000 account | $8,750 a year, per its own current brochure |
| Minimum to open an account | No fixed published minimum for SEI Investment Management Corporation Client Fee Schedule (TPMM Program, Managed Account Solutions) |
| Cost to leave (exit fee) | See how to leave Principal Securities |
What Principal Securities’ own fee schedule charges
“The annual fee Principal Securities charges under an investment adviser arrangement for each TPMM Program is listed below. Principal Securities, through its investment adviser arrangement with SEI, sets its advisory fee as a percent of the asset value of the client’s account at the end of each quarter. The advisory fee Principal Securities collects is negotiable, but will not exceed the following fee schedule (expressed as annualized fees): SEI Investment Management Corporation Client Fee Schedule, Managed Account Solutions – Asset Value / Principal Securities Fee: $0 – $149,999, Up to 1.75%; $150,000 – $249,999, Up to 1.75%; $250,000 – $500,000, Up to 1.75%; $500,001 – $999,999, Up to 1.20%; $1 million and up, Up to 1.10%.”
Treating the published breakpoints as marginal bands (the rate on each band applies only to the dollars within that band, consistent with how Principal Securities’ own wrap-fee brochure describes breakpoint reductions applying only to amounts above a threshold): the first three bands share the same 1.75% rate, so dollars $0 to $500,000 are charged at 1.75%, the next band $500,000 to $1,000,000 at 1.20%, and anything above $1,000,000 at 1.10%. At $250,000, all dollars are in the 1.75% band: 250000 x 0.0175 = 4375. At $500,000: 500000 x 0.0175 = 8750. At $1,000,000: (500000 x 0.0175) + (500000 x 0.0120) = 8750 + 6000 = 14750. At $2,000,000: (500000 x 0.0175) + (500000 x 0.0120) + (1000000 x 0.0110) = 8750 + 6000 + 11000 = 25750.
| Account balance | Annual fee |
|---|---|
| $250,000 | $4,375 |
| $500,000 | $8,750 |
| $1,000,000 | $14,750 |
| $2,000,000 | $25,750 |
See the full breakdown, including how the figure is calculated, on Principal Securities’ own fee page.
Is Principal Securities a fiduciary?
Principal Securities, Inc. is registered with the Securities and Exchange Commission (SEC) as both a broker-dealer and an investment adviser and is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).
“When we provide you with a recommendation as your broker-dealer or act as your investment adviser, we must act in your best interest and not put our interests ahead of yours.”
The primary way our financial professionals make money is through the commissions and fees you pay Principal Securities.
Full detail, including the exact registration type and source: Principal Securities’ fiduciary status, explained.
The minimum to open an account
“There may be minimum investment requirements in the SEI models that vary based on program. Please refer to the applicable SEI Form ADV disclosure brochure for any minimums that may apply.”
No fixed published minimum for SEI Investment Management Corporation Client Fee Schedule (TPMM Program, Managed Account Solutions). See the full minimum-investment breakdown, including what that minimum would cost per year, on Principal Securities’ minimum investment page.
What it costs to leave
A dedicated how-to-leave page for Principal Securities covers the exit costs in full. The general mechanics of switching financial advisors and a dated termination letter apply regardless of firm.
What we would compare it against
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- Form ADV Part 2A Firm Disclosure Brochure: Principal Direct Advisory Accounts (Item 5, SEI Investment Management Corporation Client Fee Schedule, Managed Account Solutions) (March 30, 2026): https://secure02.principal.com/publicvsupply/GetFile?fm=MM10943C&ty=VOP&EXT=.VOP
- Principal Securities, Inc. Form CRS (March 30, 2026): https://reports.adviserinfo.sec.gov/crs/crs_1137.pdf
- SEC Investment Adviser Public Disclosure, Principal Securities, Inc. (CRD #1137): https://adviserinfo.sec.gov/firm/summary/1137
- Principal Securities, Inc., SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/1137/PDF/1137.pdf
Methodology. This page was built September 24, 2026, drawing directly on Principal Securities’ own current fee brochure and Form CRS, both linked above, plus this site’s own already-published fiduciary and minimum-investment pages for the same firm, each independently sourced when it was built. Any distinction we could not independently confirm this session is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading Principal Securities’ own Form ADV Part 2A and Form CRS. We have not used Principal Securities as a client. Principal Securities did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
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