SOURCE: Principal Financial Group

DESCRIPTION:

DES MOINES, Iowa, December 9, 2021 /3BL Media/ – In a joint effort to increase the number of diverse professionals in the role of insurance wholesaler, 15 leading financial services firms along with several leading industry resource groups have teamed up to create the Coalition for Equity in Wholesaling (the Coalition). The Coalition’s initial focus is on the Black community and will serve as a blueprint as it scales a repeatable model that will ultimately be used to benefit all diverse communities.

In addition to Principal^®, initial Coalition members include: Equitable (which founded the Coalition), AIG, Brighthouse Financial, CeriFi, CUNA Mutual Group, Eagle Life Insurance Company, Finseca, Global Atlantic Financial Group, Guardian, Insured Retirement Institute, Jackson National Life Insurance Company, Kaplan, LIMRA, Lincoln Financial Group, NAIFA, Nationwide, Pacific Life, Protective, Prudential, Securian Financial, The American College for Financial Services, and Zahn Associates.

The Coalition will benefit from the knowledge of several resource partners, including the Association for Wholesaling Diversity (AWD), which has facilitated hiring, development, retention, and career advancement for Black wholesalers across the financial services industry since 2016.

A wholesaler works on behalf of a financial services company to build relationships and sell investment products and services to fellow financial professionals — investment advisory committees, financial advisors, or insurance agents. These professionals then bring solutions to their clients. The Coalition aims to increase knowledge of wholesaling as a rewarding career path and help diverse professionals network and advance in their careers.

As the Coalition’s first initiative, it has partnered with AWD to develop and offer a tuition-free Wholesaler Development Program (WDP). The program is intended to inform students about financial services wholesaling and equip them with the tools they need to become top-qualified candidates for those opportunities. The first group of students participated in the inaugural program in 2021, and we plan to significantly expand the number of participants by spring of 2022.

Members commit to fulfilling the Coalition’s mission of increasing the ranks of diverse wholesalers by fostering awareness and providing education and networking opportunities to attract talent into wholesaling, retain that talent through advancement, and create networking opportunities for current and prospective wholesalers.

More information about the Coalition for Equity in Wholesaling can be found at equityinwholesaling.com.

About Principal Financial Group^®

Principal Financial Group® (Nasdaq: PFG) is a global financial company with 18,000 employees¹ passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we’re helping more than 49 million customers¹ plan, insure, invest, and retire, while working to support the communities where we do business, improve our planet, and build a diverse, inclusive workforce. Principal^® is proud to be recognized as one of the World’s Most Ethical Companies², a member of the Bloomberg Gender Equality Index, and a Top 10 “Best Places to Work in Money Management³.” Learn more about Principal and our commitment to sustainability, inclusion, and purpose at principal.com.

¹ As of September 30, 2021
² Ethisphere Institute, 2021
³ Pensions & Investments, 2020

Equitable, AIG, Brighthouse Financial, CeriFi, CUNA Mutual Group, Eagle Life Insurance Company, Finseca, Global Atlantic Financial Group, Guardian, Insured Retirement Institute, Jackson National Life Insurance Company, Kaplan, LIMRA, Lincoln Financial Group, NAIFA, Nationwide, Pacific Life, Protective, Prudential, Securian Financial, The American College for Financial Services, and Zahn Associates are not affiliates of any member company of the Principal Financial Group^®

Principal, Principal and symbol design, and Principal Financial Group are trademarks and service marks of Principal Financial Services, Inc., a member of the Principal Financial Group^®.

©2021 Principal Financial Services, Inc. Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company^®. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities and Advisory Services offered through Principal Securities, Inc., member SIPC and/or independent broker/dealers. Referenced companies are members of the Principal Financial Group^®, Des Moines, IA 50392.​

Tweet me: .@principal is pleased to announce participation in the Coalition for Equity in Wholesaling. The Coalition’s initial focus is on the Black community and will serve as a blueprint that will be used to benefit all diverse communities. Learn more here: https://bit.ly/3dwhFLQ

KEYWORDS: Principal Financial Group, NYSE: PFG, Coalition for Equity in Wholesaling, Association for Wholesaling Diversity (AWD)