Long-time Principal exec to retire

NOV 05, 2009
The Principal Financial Group Inc. said Tuesday its president of insurance and financial services will retire at the end of this year. John Aschenbrenner, 60, has spent 37 years with the Des Moines based insurance, retirement and financial services company. He was named to the current position in 2003. He will be succeeded by Dan Houston, 48, president of retirement and investor services, who will assume leadership of the life, health and specialty benefits businesses in addition to his current role leading the U.S. asset accumulation business segment. Principal Financial has $280.4 billion in assets under management and serves 18.6 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Shares rose 36 cents, or 1.4 percent, to close at $27.12. They fell 34 cents in after-market trading.

Latest News

UBS sees a net loss of 111 financial advisors in the Americas during the second quarter
UBS sees a net loss of 111 financial advisors in the Americas during the second quarter

Some in the industry say that more UBS financial advisors this year will be heading for the exits.

JPMorgan reopens fight with fintechs, crypto over fees for customer data
JPMorgan reopens fight with fintechs, crypto over fees for customer data

The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.

The average retiree is facing $173K in health care costs, Fidelity says
The average retiree is facing $173K in health care costs, Fidelity says

Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.

Advisor moves: NY-based Coastline wealth adds three teams with over $430M in assets
Advisor moves: NY-based Coastline wealth adds three teams with over $430M in assets

Raymond James also lured another ex-Edward Jones advisor in South Carolina, while LPL welcomed a mother-and-son team from Edward Jones and Thrivent.

Gen Z is grappling with a financial balancing act, new report reveals
Gen Z is grappling with a financial balancing act, new report reveals

Rising costs, low wages are making it hard for young Americans to move ahead

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.