It's not every day one encounters a company that's content to be No. 2. But that's exactly the business plan of Principal Retirement & Investor Services. While Principal serves three million investors in 40,000 employer plans, most of those plans are at companies with 1,000 workers or less.
Ever since Principal, a 125-year-old firm, entered the pension and retirement services market 60 years ago, it has concentrated on serving smaller businesses with personalized service, says Larry Zimpleman, president, Principal Retirement, and EVP of Principal Financial Group.