Products
Products Part Deux
Guest Speakers
DOL Leftovers
Potpourri
100

For J-Shares accounts with balances below $10,000, this is the annual IRA fee.

What is $15?

100

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?

100

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?

100

When a client declines a consultation, you should limit your conversation to this.

What is the transaction process (provide factual answers only)?

100

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. 

200

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?

200

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?

200

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?

200

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. 

200

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.

300

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. 

300

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. 

300

STAR is an acronym for.....

What is Skills Training and Results?

Bonus: This is the primary goal of STAR. 

300

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?

300

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..."?

400

Among mutual fund types, this category typically has the highest risk/return profile.

What is International Equity?

400

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. 

400

TAC stands for this

What is Time Available for Customer?

Bonus: This is the goal for FCI and FCIIs. 

400

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? 

400

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. 

500

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

500

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.

500

This is the leading cause of NIGOs

What is lack of documentation?

500

These are the two distinct paths when handling asset consolidation for existing IRA clients.

What are recommendation OR client-directed transaction?

500

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)