Principal Financial Group

Reviews

• RS

  Ryan Sikkema

  Feb 4, 2025
  1.0
  Terrible company to invest with. I started working for a new employer 9 months ago with an incredibly in-depth boarding process. In the paperwork the employer buried info about auto enrollment and how if you don't select out of it they will automatically sign you up for it and select the percentage for you. This started back in June2024 and I became aware of the situation in December2024. I have my own investments and a 10-year plan that did not involve a 401k with my employer. Sadly both the employer and principal are of no help. I have since put a force stop on the account so they can't take any more of my money. I tried To cancel the account and ask for a rollback check. The representative from principal was less than helpful. It sounded like I had just woken him up and his attitude was like he didn't care to be on the phone at all (he continue to yawn through the call as he started speaking). They told me the only way I could take the money out was under hardship which I don't qualify for and would have to pay back later. The biggest problem I have with principal is I have zero emails from them in 2024. They've had over $1,300 of my money since June. Due to the fact I wasn't aware of the 401k plan I didn't have an account with them until January31st. They have yet to send me anything that told me I had this account. They haven't sent me any kind of statement regarding the account. They didn't send me an email or give me a phone call about the fact that they had $1,300 of my money and what I wanted to do with it or what their plans were with it. it's February 4 2025 and my only option to get out of a plan I wanted nothing to do with isn't an option. They took my money without my consent and they're refusing to give the money back. They're due diligence is terrible at best and if you're looking for an investment to take care of you through retirement I would highly suggest going elsewhere. Even after telling the guy on the phone this is my first ever 401k and I don't understand them. He was not helpful. He didn't offer me any literature or refer me to somebody else that could help. The only thing he cared to say between his yawns were You can only take it under a hardship. It's a terrible company to invest with and their name is almost comical after what they put me throgh.

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