DES MOINES — Principal Financial Group announced Monday that it has entered a cross-marketing alliance with Frank Russell Co., an investment product and services subsidiary of Northwestern Mutual Life Insurance Co.

Starting in September, Principal will make Frank Russell’s multimanager LifePoints Funds family available to employees of its defined contribution clients.

The LifePoints Funds include a series of five risk-based asset allocation portfolios that invest in Russell mutual funds and are managed by a team of independent investment professionals.

Frank Russell Investment Management Co., the company’s U.S. distribution subsidiary, has selected Principal as its primary provider of defined contribution products it distributes through independent financial intermediaries, including registered financial advisers, banks, and insurance agents and brokers.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.