Principal Partners With Edelman for Personalized Retirement and Financial Wellness Guidance

Edelman Financial Engines has been selected by Principal Financial Group to offer personalized retirement advice and financial well-being guidance to select large employers on its recordkeeping platform.

The relationship, which launched last month, provides access to Edelman Financial Engines’ national network of financial planners, for in-person and virtual advice, in addition to a broad array of financial education tools and online advice.

The relationship complements existing offerings through Principal to provide personalized retirement advice as well as guidance on day-to-day budgeting, debt management and dozens of other financial topics that affect long-term financial security. All advice will be offered by Edelman Financial Engines without conflict from product sales or commission-paid advisers, the firms say.

“Employers are continuing to search for solutions that help improve financial well-being for their workers and guide them in retirement planning,” says Jerry Patterson, senior vice president, retirement and income solutions at Principal. “By utilizing Edelman Financial Engines services, we’re able to help employers provide additional advice, educational resources and support, particularly during such a pivotal time in their employees’ financial planning.”

Following a strategic review, a Principal spokesperson recently told PLANSPONSOR, “Participant experience will continue to be an integral focus for us, with strong plan design and financial wellness support that creates the best outcomes for our participants.”