A streamlined onboarding experience

Your centralized hub to more efficiently onboard TPA plans at Principal®

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Tailored technology
to meet your needs

Using a human-centered approach, we’ve built our technology to work for you, providing timely answers and data that are reliable, meaningful, and accessible.

Arrow icon pointing down to read content

Tailored technology to meet your needs

Using a human-centered approach, we’ve built our technology to work for you, providing timely answers and data that are reliable, meaningful, and accessible.

Arrow icon pointing down to read content

Onboarding digital efficiencies

Built with input from TPAs, this onboarding experience is designed to help deliver efficiency, convenience, flexibility, and the ability to collaborate for a more streamlined onboarding experience.
Image of Principal Custody Solutions account dashboard overview.Animation providing more information of Principal Custody Solutions account dashboard overview - showing a summary of all account pending real-time cash balances, scheduled reports, statements, and more.
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Getting started

Once we receive the commitment, we’ll assign a dedicated client implementation manager and kick off the onboarding process for the plan’s security administrator to set up access.


The plan sponsor, third party administrator, and financial professional will all get an email with a link to the same collaborative onboarding experience.

Animation providing more information of real-time cash and security positions - including daily transactions, sweep, and pending positions.Image of Principal Custody Solutions account representing  real-time cash and security positions - including daily transactions, sweep, and pending positions.
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Convenient onboarding dashboard

Check the status and access all plans you service on the TPA website with the Onboarding dashboard, located under Block of business. Or you’ll see a quick link at the top of your Client List on the plan summary page.


Ready to provide plan provision details? Click Onboard my client.


Is there anyone at your firm who works on onboarding but doesn’t currently have a principal.com account? Make sure your firm’s security administrator adds everyone who needs access using the Manage security tab at the top of the TPA website.

Image of Principal Custody Solutions account showing individual benefit payment records.Animation providing more information of Principal Custody Solutions account showing individual benefit payment records.
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Plan onboarding hub

Easily access the hub via email from your assigned client implementation manager or the TPA onboarding dashboard— this is one shared space for everyone to collaborate and provide details to hit the plan’s effective date.


Easily see clear indicators of the status of each section: not started, in progress, or complete.


Use helpful target completion dates to stay on track and access information for everyone working on the plan, including the assigned client implementation manager.


Tip: Use this page as a guide for client check-in meetings so you’re all referencing the same information. You may find your Principal® client implementation manager using it for key milestone meetings.


Animation providing more information of Trust and Custody report categories within a Principal Custody Solutions account.Image representing the Trust and Custody report categories within a Principal Custody Solutions account.
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Security and organization information

The plan sponsor will need to complete the security information section.


The organization and payroll information section can be completed by either the plan sponsor or third party administrator—whatever makes the most sense for the plan and the way you do business.


Animation providing more information of benefit payment report categories within a Principal Custody Solutions account.Image of benefit payment report categories within a Principal Custody Solutions account.
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Providing plan details

With the security and organization information complete, we’re ready to start digitally collecting the plan provision information from the third party administrator team.


To help you smoothly get through implementation, this collaborative process is:

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Flexible

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Efficient

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Smart


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Flexible

Questions don’t have to be completed at the same time or in a specific order. It allows multiple users so each person can complete, save, and submit their details when it works for them.


Image of account representing moving cash or transaction history to and from Wells Fargo bank accounts.Animation providing more information of moving cash or transaction history to and from Wells Fargo bank accounts.
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Efficient

Responses go through validation before submission to get information in good working order the first time and to help eliminate the need to go back and forth.

Animation providing more information on trade entry and onscreen verification for accuracy.Account view of trade entry information within a custodial account.
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Smart

Questions are dynamic to only show what’s needed based on your previous responses to help get through the information quicker.

Animation providing more information on administration approvals and repairs to a custodial account. Account view providing more information on administration approvals and repairs to a custodial account.
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We’re here for you

We understand that this process is different. We’ll be with you each step of the way. Your dedicated client implementation manager will be your go-to for questions and help guide the plan through the experience.

 

In the meantime, if you need anything, please email the Principal TPA EdgeSM service team or call at 800-958-5124.

 

As more TPA plans use this experience, we’ll continue to make enhancements to help make onboarding retirement plans with us easier.

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The subject matter in this communication is educational only and provided with the understanding that Principal®  is not rendering legal, accounting, investment, or tax advice. You should consult with appropriate counsel, financial professional, or other advisors on all matters pertaining to legal, tax, investment, or accounting obligations and requirements.

 

Images are for illustrative purposes only.

 

Insurance products and plan administrative services provided through Principal Life Insurance Company®, a member of the Principal Financial Group®, Des Moines, Iowa 50392.

 

Principal®, Principal Financial Group®, and Principal and the logomark design are registered trademarks of Principal Financial Services, Inc., a Principal Financial Group company, in the United States and are trademarks and services marks of Principal Financial Services, Inc., in various countries around the world.

 

PQ13174A | © 2022 Principal Financial Services, Inc. | 2116475-042022 | 04/2022