Products
For J-Shares accounts with balances below $10,000, this is the annual IRA fee.
What is $15?
This managed account solution uses our proprietary algorithm to build investment portfolios with between 17-25 MFs and ETFs for either risk-based or time-based models
What is Principal SimpleInvest?
Bonus: What triggers a SI portfolio to rebalance and how often could a rebalancing occur?
We would transfer to this team in the case of a plan-to-plan transfer (roll from term'd internal plan to active internal plan).
What is PCC Onboarding?
When a client declines a consultation, you should limit your conversation to this.
What is the transaction process (provide factual answers only)?
Before offering a consultation, you must provide this summary of what you heard from the customer
What is a confirmation of understanding?
Bonus: Provide an example of a confirmation of understanding summary.
Name 2 of the 4 investment types not available in a GS account.
Bonus: Name all 4
What are Cryptocurrency, Real Estate, Options Trading, and Gold/Precious Metals?
A target date fund that offers 5-year increments and leverages indexed funds to lower the cost
What is the Principal Lifetime Hybrid Mutual Fund?
You must do this when the client profile may not align with the recommendation.
What is resolve contradictions in your rationale?
Bonus: Where do you need to include this information?
For detailed questions about these two in-plan features, you must refer clients to PCC.
What are income and investment features?
Bonus: This is where you would refer a client interested in guaranteed income for life option.
This 3-part technique should be used when delivering both value propositions and recommendations.
What is Feature, Bridge, Benefit?
Bonus: Provide an example of a FBB for consultation or product recommendation.
An account created to help parents and students save for education expenses
What is a Coverdell Education Savings Account?
Bonus: This account is set up as an irrevocable gift to minor.
These are bank products that may provide a stable return and remove market exposure.
What is a Money Market or CD IRA?
Bonus question: This is the maximum FDIC insurance coverage amount per depositor at Principal Bank.
STAR is an acronym for.....
What is Skills Training and Results?
Bonus: This is the primary goal of STAR.
Within this timeframe, consultants can use the same inputs from a prior consultation for follow-up appts on an external asset recommendation.
What is 30 days?
When a customer makes a decision without a consultation (or maintains original decision after recommendation), this disclosure must be stated
What is "Without any recommendation on my part..."?
Among mutual fund types, this category typically has the highest risk/return profile.
What is International Equity?
This is where you can find the additional disclosures related to a GS account.
What is SharePoint GS Product Page?
Bonus: Explain the difference in the RightBridge process with GS accounts.
TAC stands for this
What is Time Available for Customer?
Bonus: This is the goal for FCI and FCIIs.
In a DISCO NO situation, we can only open an IRA for a client under this condition.
What is when the client specifically asks for it?
When quoting market values/balances to clients, you must use this specific timeframe
What is "As of yesterday's market close..."?
Bonus: When sharing the historical performance of a fund, you must disclose these three periods.
This account type is used for self-employed or small business
What is a SEP IRA?
Bonus: Explain how contributions are made and the limits
A risk-based portfolio offered within Principal's J-share mutual funds IRA
What is SAM funds?
Bonus: Explain the difference between a mutual fund and a managed account platform.
This is the leading cause of NIGOs
What is lack of documentation?
These are the two distinct paths when handling asset consolidation for existing IRA clients.
What are recommendation OR client-directed transaction?
These are the 3 times you must do the permission to discuss all accounts with Principal disclosure.
What is 1)outbound calls 2)3rd party joins 3)SF opt-out banner (client pressed 9 on automated system and declined permission)