Brant Wong Joins Principal Asset Management℠ as Head of Retirement Solutions

Rhea-AI Summary

Principal Asset Management has appointed Brant Wong as head of retirement solutions to spearhead the expansion of their retirement investment franchise. Wong, a 30-year industry veteran and former J.P. Morgan executive, will focus on connecting client needs with product innovation across asset management and U.S. retirement businesses.

The company, which manages nearly $320 billion in retirement AUM, is expanding its investment solutions with new offerings including the Principal® LifeTime Strategic Index CITs, a passive target date fund. Recent additions to their portfolio include personalized target date options and a hybrid QDIA combining target date strategies with managed account services.

Positive

• Significant AUM of $320 billion in retirement assets
• Launch of cost-efficient Principal® LifeTime Strategic Index CITs
• Strategic hire of experienced industry veteran for retirement solutions
• Expansion of product portfolio with personalized investment options

Negative

• None.

DES MOINES, Iowa--(BUSINESS WIRE)-- Principal Asset Management℠ has hired industry leader, Brant Wong, as head of retirement solutions to lead the expansion and strategic growth of the company’s retirement investment franchise to meet the evolving needs of plan sponsors and participants.

“Principal is focused on building investment solutions designed to support Americans as they continue to reshape the ways they think about and plan for retirement,” said Kamal Bhatia, president and CEO, Principal Asset Management. “In this new position, Brant will play a key role in our retirement investment product strategy across the asset management and U.S. retirement businesses at Principal, further ensuring we are continually connecting client needs with product innovation.”

Wong is a nearly 30-year veteran of the industry and former head of retirement platforms with J.P. Morgan. He brings to Principal a depth of knowledge and experience serving the individual retirement investor and connecting those customer needs with innovative product and workplace investment solutions. Under Wong’s leadership, his team will leverage the extensive set of Principal investment solution capabilities backed by the firm’s heritage in retirement and life to maximize customer experience and drive outcomes.

“As individual Americans plan for their ideal retirement scenarios, they put their trust in established retirement investment providers who can help them feel confident in their investment choices and the adequacy of their retirement income,” said Wong. “I’m proud to be joining Principal which is one of a few firms with expertise and service along an individual’s full investment journey and are well poised to continue to develop new and innovative solutions to meet their needs.”

Principal manages nearly $320 billion in retirement AUM and is focused on building investment solutions that are increasingly personalized, meet the needs of accumulation and decumulation, and serve a variety of price points. The company continues to develop new retirement investing capabilities building upon its comprehensive Target Date Fund Series. This suite of active and hybrid target date funds has now been expanded with the introduction of the Principal® LifeTime Strategic Index CITs, a new kind of passive target date fund designed to harness the power of the investment and insurance capabilities of Principal at a cost-efficient price point. The firm has also recently added solutions providing clients with strategic personalization opportunities, including a personalized target date and a hybrid QDIA which offers both target date strategies and managed account service in one default position based on age of the participant.

About Brant Wong
Wong joins Principal with nearly 30 years of industry experience. Wong previously spent 23 years at J.P. Morgan Asset Management serving as head of retirement strategy, platforms, and national accounts. Prior to this role, he held a position at McKinsey and Company. Wong earned a Bachelor of Science in Economics from Harvard University.

About Principal Asset Management
With public and private market capabilities across all asset classes, Principal Asset Management and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 80 markets.¹ Principal Asset Management is the global investment solutions business for Principal Financial Group^® (Nasdaq: PFG), managing $ $559.1 billion in assets¹ and recognized as a “Best Places to Work in Money Management”² for 12 consecutive years.

[1] As of December 31, 2024

[2] Pensions & Investments, 2024

Investing involves risk, including possible loss of principal. Target date portfolios are managed toward a particular target date, or the approximate date the investor is expected to start withdrawing money from the portfolio. As each target date portfolio approaches its target date, the investment mix becomes more conservative by increasing exposure to generally more conservative investments and reducing exposure to typically more aggressive investments. Neither the principal nor the underlying assets of target date portfolios are guaranteed at any time, including the target date. Investment risk remains at all times.

The CITs are collective investment trusts maintained by Principal Global Investors Trust Company. The CITs are not mutual funds and are not registered with the Securities and Exchange Commission, the State of Oregon, or any other regulatory body. The CITs are available only to certain qualified retirement plans and governmental 457(b) plans. The declaration of trust, participation agreement, and disclosure documents contain important information about investment objectives, risks, fees and expenses associated with investment in a CIT and should be read carefully before investing.

Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company®. Plan administrative services offered by Principal Life. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/-dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, Iowa 50392. Principal Asset ManagementSM is a trade name of Principal Global Investors, LLC.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250227678683/en/

Media Contact: Erin Parro, 515-878-0130, parro.erin@principal.com  

Source: Principal Asset Management

FAQ

What is the current retirement AUM managed by Principal Asset Management (PFG)?

Principal Asset Management manages nearly $320 billion in retirement Assets Under Management (AUM).

What new retirement product has Principal Asset Management (PFG) recently launched?

Principal has launched the Principal® LifeTime Strategic Index CITs, a passive target date fund combining investment and insurance capabilities at a cost-efficient price point.

What is Brant Wong's previous experience before joining Principal Asset Management (PFG)?

Brant Wong is a 30-year industry veteran who previously served as head of retirement platforms at J.P. Morgan.

What new personalization features has Principal Asset Management (PFG) added to their retirement solutions?

Principal has added personalized target date options and a hybrid QDIA that combines target date strategies with managed account services based on participant age.