Principal Financial Group Reviews 

They don't deserve a one star, worst company ever when it comes to YOUR MONEY. IT'S BAD ENOUGH YOU HAVE TO BE TAXED TO HEAVEN FOR YOUR HARD EARNED MONEY. BAD BUSINESS. STAY AWAY AND PUT YOUR MONEY SOMEWHERE WITH GOOD BUSINESS FOLLOW UP AND GIVE A DAMN

Scam artists. I'm a seasonal tax employee, and by the end of each tax season, I typically accumulate only about $200–$300 in my 401(k). Because the balance is below the $5,000 threshold required to keep the account open, I'm forced to either withdraw the funds or roll them over to another retirement plan. Yet they charge a $50 fee just to process the withdrawal or rollover. Charging a 20–25% fee on such a small balance is excessive and feels like they're taking advantage of seasonal employees.

Terrible customer service. There were multiple errors and instances of negligence throughout the process, and no one was willing to take responsibility.

On hold forever. Trying to request paperwork to transfer an account and they tell me to submit paperwork but won’t accept forms from other companies.

Impossible to get help or someone to release the funds in the account

I wish there was a star for 0!!!!! This is the WORST 401k company EVER! Request made on May 11th and today is May 28th!!!
They are rude, unhelpful and really DO NOT CARE! You can request a hardship and do everything you’re suppose to do, and they still will take you through a million steps and then take weeks to deposit your money! Somehow my account number was wrong! I’ve gotten a deposit before, but now my accounts number was wrong when I didn’t even have to key in my account number! The manager I spoke with said the accounts can not be touch, but that had to be a LIE! System make mistakes and employees do too! They had no sense of urgency about me or my children well-being and didn’t try to help with a faster solution when it’s taken 3 weeks now to receive my deposit. I will be closing my account and removing 401K with my employer if this is the company I have to deal with. It’s really really sad!

I would give this company negative stars if I could. Worst people and worst company I’ve ever had to deal with. They wait around for weeks and days and get no where with your request. They cancelled a request I had ongoing for over a month and said they didn’t get the information needed even though I have receipts of emails showing me submitting everything needed. Stay far away from from this company. Worst experience I’ve ever had.

Following my retirement, I initiated a request for fund disbursement from my IRA account with Principal/401k. Despite multiple attempts to contact your organization and discussions with several supervisors, this matter remains unresolved since March 26th, 2026. The current situation suggests a potential loss of my funds, and I have been unable to secure assistance from Principal Financial Group.

I am disgusted by their portrayal of any worker over 40 on these commercials.. the stupid jokes and childish intonation of the people that actually have money to invest goes to show you are here for a short time. Bless anyone that has their cash with you, see you when Fidelity buys you out shortly

Horrible. Customer service is a joke. GET YOUR MONEY OUT OF THIS COMPANY.

Horrible company and customer service. I left my company almost a month ago and requested a rollover to an IRA that is also with Principal and they’ve taken zero action in over a week. Their system does not allow you to do two transactions at once so I have to wait for the amounts of the IRA to be deducted before I can request the distribution of the balance. You can call customer service 5 times and get 5 different answers. They won’t even let you cancel the request. It’s like you will never get access to your money. Do not use this company.

I asked to remove money, because employment ended. I chose to do an IRA with my bank. PRINCIPAL said there is a 50.00 fee to process. When they sent the check for me to take to the bank. They took 240.00., if you remove the 50.00.processing fee they took an extra $193.00 from the 401k. I called and they said the check is the original amount that we had. I said you're lying, because the letter i received from you on behalf of my employer said this amount example- dhf78500. Principal did good until they took extra money of fees from me. Principal used to have a good reputation. I will never see them the same again, after this experience.

Horrible customer service. Rude and disrespectful to me in a very difficult situation. I would not ever choose this group to manage my or my loved ones' money again. If your employer offers this group as an option, save your time and go find a third party.

In my experience, dealing with this company when it comes to payouts has been extremely frustrating. Despite paying for a policy, it feels like they do everything possible to avoid paying claims. Some of the response to certain requests have also raised serious concerns for me.

If you're thinking about getting through this company, I would strongly recommend looking into the reviews and doing thorough research first. In my experience as an investor, Bitci Stack Asset Platform which I found on Trustpilot has been the only investment platform I've successfully withdraw my funds without fees

Legalized theft. I left a company after 6 months and it's 50.00 to move money out of the account for Roth account AND 401K. THANK GOD I HAVE MY MONEY IN TWO OTHER investment firms. If you are starting a company that offer principal as their 401k manager do yourself a favor and open an IRA. P

Terrible customer service. Update below:

I received an email that I would have a call w/ a financial advisor (Windy Seto) scheduled for 2/13/26. Awesome! Then, the day before, she has to reschedule- no biggie, life happens. Then, I receive an email later that day that "I am cancelling our one-on-one advice meeting for the following reason: your employer sponsor plan does not offer In Plan Advice services."

Why would you reach out to me in the first place? Incompetent preparation that led to a false hope. It worries me that these people are "managing" my money when they can't manage this.

UPDATE, 3/4/26:

I was contacted by one Sean McConnell, I presume Windy's manager. He apologized for the back-and-forth, but followed with "based on how your plan's access tool is configured, we're unable to conduct one-on-one advice meetings for your plan" (a masterful display of obfuscating jargon). It's disappointing to see a professional of any level (let alone a leader like him) lose sight of the bottom line: the customer's experience.

I will update this engagement as it progresses.

Principal mishandled a 401k to IRA transfer, sent the wrong tax documents two years too late, withheld money that they shouldn't have, and then when I called support they hung up on me.

My employer, following my departure, rolled my 401K into an IRA with one company, then that company, after I set my investments, transferred my account to Principal. It took me a bit to find out about the transfer, but only after getting an annual statement from Principal. Well, none of my investment transferred. They placed my funds into savings-like account to earn 0.4% yearly. Needless to say, they charged me more in fees than earned interest. So once I advised of this, they said this is what my employer chose. Then I advised that I wanted them to send me a check, made payable to my other broker, with BFO listing me, so I could move it. They can't do that. Claim it's not possible without withdrawal penalties, and that they can't even close transfer the account at my request. Says I have to initiate a transfer from my broker. Then told me there was a transfer fee, a check fee to send to broker, and then a close account fee. In the end, the fees charged on the account over about 9 months total around $400 and the account only earned about $22 in interest.

Oh hell no. The "no frills" financial management company. My employer has this plan. The plan and its offerings are downright paltry with little selection and the software tools to manage your money are weak. The site seems to experience issues on a weekly basis too. They charge $25 per check to do a rollover, which is pretty terrible; no way around it. Transferred my assets to a big league player, like Fidelity. Light years more professional in every facet.

Poor attitude, too many hoops and logistics, not helpful at all. I would never recommend this company foor anything.

It’s taken me awhile to write this review but my experience has gotten to be so stressful and unbearable, I’ve gotten to a point of actually wanting to not be here because of Principal’s roadblocking to prevent me from being able to access my long term disability benefits that I’m entitled to and eligible for. The transition from STD to LTD (including final STD payment) has been the most stressful, anxiety provoking experience I’ve ever navigated. I have expertise in this space and I can’t imagine how people navigate it without some knowledge and support. Deadlines change arbitrarily and without ample notice causing distress (ie: finding out the week benefits are due to be paid that more information is needed which now allows them to disregard the earlier deadline and extend it), all information was provided ahead of time but they still request more (even information that doesn’t apply to the date of treatment which again creates unnecessary delays), I’ve had emails go ignored and have had to follow up multiple times to get a response. I’ve had the analyst intimidate and basically verbally reprimand me via phone to not send emails by being forced to answer calls on the spot when I’ve said my diagnosis does not support this. It does absolutely seem that they are only trying to delay payment (it’s now been 3 weeks and counting since ANY payment and prior to that the payment was also delayed at least 3+ weeks), and looking for any little thing they can find to deny you, all while your financial stress grows and they require you to continue treatment (ie: basically putting you into debt by requiring you to incur healthcare costs without stable income), yet you’re also not supposed to work as that jeopardizes the claim, so you’re in a constant limbo where they can request anything even when it doesn’t apply, change deadlines and tell you at the last minute, give themselves extensions whenever it serves them with no regard for the real life impact of what that means for you in terms of your ability to address even basic needs.