Ace Your Interview at Principal Financial Group with These Top Questions and Answers

Interviewing at a leading global financial company like Principal Financial Group can seem intimidating. With over 140 years of experience providing investment management, insurance solutions and retirement services, they are looking for top talent to join their team.

I know first-hand how nerve-wracking these interviews can be. I interviewed at Principal a few years ago for a financial advisor role right out of college. While I didn’t end up getting the job it was a valuable learning experience that helped me succeed in later interviews.

In this ultimate guide I’ll share my insider knowledge to help you ace your upcoming Principal Financial Group interview. I’ve researched some of their most common interview questions and provided sample answers to help you craft winning responses.

Let’s get started!

Overview of Principal Financial Group’s Hiring Process

The typical hiring process at Principal involves:

• Submitting an online application
• One or more preliminary phone/video interviews
• In-person interviews at a local office

The number of interviews varies by job, but HR and departmental managers are often present. For jobs that deal with clients, you can expect to go through multiple interviews where your technical knowledge and communication skills will be tested.

The overall process can take 2-6 weeks from initial application to final offer. The principal wants to hire people who will fit in with their culture, so don’t just prepare answers; show how you agree with their values, such as honesty, teamwork, and new ideas.

Now let’s look at some of the specific questions you’re likely to encounter.

Common Interview Questions and Answers

Q1: Why do you want to work for Principal Financial Group?

This is a very common opening question aimed at gauging your interest in the company and the role. The interviewer wants to know you’ve done your research and see Principal as a good career fit, not just any job.

Sample Answer: I’m excited to apply my skills in financial services at a leading company like Principal. After researching your core values and mission to help clients achieve financial security, I felt inspired by your commitment to ethics and innovation in this industry. I also appreciate your focus on diversity, equity and inclusion. If hired as a financial advisor, I look forward to leveraging my background in retirement planning and investment analysis to provide customized guidance to clients. Principal’s global footprint and range of financial solutions present an opportunity for me to grow my expertise and make a positive impact.

Q2: What do you know about Principal Financial Group?

Along with assessing your interest, interviewers want to confirm you’ve done your homework on the company. Be ready to demonstrate basic knowledge of their history, services, values and competitive positioning.

Sample Answer: Principal Financial Group has over 140 years of experience providing financial investment, insurance and retirement solutions. You serve over 19 million customers in over 80 countries. Some highlights I’ve learned are:

• You manage over $650 billion in assets under management and administration.

• Your extensive range of services includes life insurance, mutual funds, annuities and pension plans.

• Your core values emphasize ethics, customer focus, engagement, inclusion and innovation.

• You’ve been recognized as one of the World’s Most Ethical Companies.

I’m impressed by your leadership in retirement services and dedication to sustainable, responsible investment strategies. If I were hired, I would be excited to contribute to those goals as Principal continues growing globally.

Q3: How does this position align with your career goals?

With this behavioral interview question, the hiring manager wants to understand why you feel this role is the right next step for you professionally. Show how it builds on your background and supports your future aspirations.

Sample Answer: As someone passionate about financial planning, this client service associate role strongly aligns with my career goals. It would allow me to apply my analytical skills and financial knowledge to provide personalized guidance and solutions to clients. By interacting directly with clients and working cross-functionally, I can continue developing well-rounded expertise in retirement, investments, insurance and more. This experience can open doors to advance into a financial advisor position down the road. Most importantly, I’ll get to make a positive difference in people’s lives by helping them achieve financial security. This sense of purpose is important to me.

Q4: What do you think makes a successful financial advisor?

Questions like this allow interviewers to assess your understanding of the role along with the soft skills needed to excel. Tailor your answer to the specific position while highlighting abilities like relationship-building, communication, ethics and strategic thinking.

Sample Answer: In my opinion, the top qualities of a successful financial advisor are:

• Strong listening skills to deeply understand each client’s unique needs and goals. This helps build trust.

• Excellent communication skills to explain complex financial topics in an accessible way.

• Analytical abilities to review clients’ situations and provide sound, customized strategies.

• Attention to detail when assessing financial statements and managing portfolios.

• Commitment to continuing education to stay current on the latest financial trends.

• Ethical integrity to ensure every recommendation puts the client’s interests first.

If hired, I would leverage my background in customer service and financial analysis to embody these qualities while helping clients achieve their financial objectives.

Q5: How do you stay up-to-date on financial regulations and compliance standards?

Given the highly regulated nature of financial services, interviewers want to know you have a handle on staying compliant. Demonstrate you’re proactive about understanding regulatory changes and their implications.

Sample Answer: I recognize that compliance is critically important in this industry. To stay current, I take a proactive approach:

• I subscribe to email newsletters from FINRA, the CFP Board and other industry groups that share regulatory updates.

• I attend webinars and conferences from organizations like the Financial Planning Association that often cover new regulations.

• I leverage social media by following thought leaders who regularly comment on important policy changes.

• Within any company, I would ask about regular compliance training opportunities to refresh my knowledge.

Staying up-to-date on financial regulations allows me to incorporate changes into client communications and portfolio strategies in a timely manner. I’m committed to maintaining compliance every step of the way.

Q6: How do you prioritize tasks when managing multiple client accounts and deadlines?

Time management abilities are crucial in this fast-paced industry. Provide a structured approach to prioritizing which conveys your organization, communication and ability to multitask.

Sample Answer: When managing multiple client accounts, I prioritize based on three key factors:

1. Urgency – What deadlines are coming up soonest? These time-sensitive tasks take priority.

2. Importance – Does this task have significant impact on the client’s finances or our relationship? Higher importance means higher priority.

3. Effort – Larger, more complex tasks may require advance planning and resources.

I stay organized by keeping a tracking system of all major deadlines and tasks, segmented by client. This helps me plan my time efficiently. I also communicate expectations clearly with clients and team members so we’re aligned. By balancing these priorities, I can provide quality service to all my accounts, even when dealing with high volumes.

Q7: Describe a time you had a disagreement with a colleague. How did you handle it?

With this behavioral question, the interviewer is probing your communication skills and professional maturity. Illustrate how you express disagreements constructively while finding solutions.

Sample Answer: Early in my career, I was working on a client presentation with a colleague who had a different vision for the deck. I valued his perspective but felt strongly that my approach would resonate better with this particular client based on my experience.

Rather than argue, I suggested we first outline our individual approaches separately. We then met to review the merits and drawbacks of each. Through this collaborative process, we merged our ideas into one deck that represented the best of both.

By first listening to understand his view, I maintained a professional rapport even amid disagreement. We found compromises that played to both our strengths. I learned the power of open communication and level-headed debate in leading teams.

Q8: How would you respond if a client questioned your financial recommendations?

Client objections are inevitable, so interviewers want to know you can handle challenges smoothly. Prove you’re willing to educate clients while standing firmly behind sound recommendations.

Sample Answer: If a client questioned my financial recommendations, I would respond with transparency and patience. First, I’d seek to fully understand their concerns and reasoning. I may ask probing questions to identify the root of their hesitation.

Next, I would walk through my rationale again, explaining the research and analysis supporting my strategy. I would welcome their input to ensure we shape solutions collaboratively. If needed, I would offer to rerun projections or outline pros/cons of alternatives.

Above all, I would remain professional, focusing on what’s best for the client. My goal is their full understanding and buy-in, even when doubts arise. I take feedback as an opportunity to strengthen their trust and confidence.

Q9: Tell me about a time you successfully educated a client on a complex financial topic.

Financial advisors need to make complex topics