As a part of its long-standing commitment to understand the needs of small and medium-sized businesses, Principal® today announced the launch of a unique digital offering designed to help business owners and leaders uncover planning needs to help protect the financial well-being of their business and prepare for the future. The Principal® Business Needs Assessment is the latest innovation added to its suite of simple, integrated services and solutions for small businesses.
“Despite the recent economic slowdown, business owners are optimistic about the future. In our most recent Principal Financial Well-Being IndexSM research half of business owners report they’re growing,” says Amy Friedrich, president of U.S. Insurance Solutions for Principal. “As small businesses return to focusing on growth, they’re returning to long-term planning. Our new Business Needs Assessment offering helps them plan.”
This resource is now available to employers looking to know how well-positioned they may be regarding their priorities. The offering includes three distinct modules. Using each of the assessments, users can evaluate the needs of their business, their employees and their lifestyle. All three parts embody a relevant area of focus for small and medium-sized businesses. Measured independently, users can decide to take a single assessment or complete all three of them in less than 15 minutes.
“Expanding our digital solutions helps us build awareness, improve education and simplify the financial planning experience for small and medium-sized businesses,” said Friedrich.
Key benefits include:
- Meeting business owners and leaders on their terms – This offering can be used with all business sizes and types -for profit, not for profit, privately held and publicly traded- as well as businesses in any industry. Whether the user is taking the assessment individually or with the help of a financial professional, there are no in-person meetings required.
- Actionable recommendations and next steps – This organized approach provides a streamlined way for business owners and leaders to assess and review their business’s broad needs. It helps prepare them to meet with a financial professional and take control of their business path.
- Personalized results – The dynamic nature of this offering provides different tracks and adjusts the assessments based on the nature of the business and specific areas of interest. And, the results are complimentary and available to download immediately after finishing the assessment.
- Integrated services and solutions – The personalized results connect the user to an array of resources and offerings from Principal including the company’s Benefit Design Tool℠, Retirement Wellness Planner, Life Insurance Calculator, Income Protection Calculator, in addition to qualified plans and a variety of other informative resources.
“The new platform is going to be a gamechanger for small and medium-sized businesses,” says Mark West, national vice president of business solutions for Principal. “The Business Needs Assessment meets business owners and leaders where they are today. It encourages them to chart their journey and provides helpful steps they can use for the financial well-being of their business, their employees and their lifestyle.”
Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. Our employees are passionate about helping clients of all income and portfolio sizes achieve their goals–offering innovative ideas, investment expertise and real-life solutions to make financial progress possible. To find out more, visit us at principal.com.
Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., 800-247-1737, member SIPC and/or independent broker/-dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392.
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