NU Online News Service, Oct. 3, 11:51 a.m. – The Principal Financial Group, Des Moines, Iowa, and Intuit Inc., Mountain View, Calif., today announced an agreement to jointly market and develop QuickBooks-branded retirement solutions for businesses.
Retirement services from The Principal will be available to QuickBooks customers in the coming weeks, the company says.
Under the agreement, Intuit will co-brand and market the new service to small and mid-sized businesses, including its nearly three million existing QuickBooks customers, The Principal says. The Principal Financial Group will deliver bundled retirement solutions, offering customers a choice from a number of 401(k), SIMPLE IRA and SEP IRA plans.
“As small- and mid-sized businesses work to compete with larger enterprises for employees, it becomes increasingly important to offer competitive benefits and retirement solutions,” says J. Barry Griswell, president of The Principal.
Sixty-nine percent of respondents to a recent Principal Financial Well-Being Index said a good benefits plan would encourage them to work harder and perform better, he says.
“Through this arrangement, more small business owners will soon be able to offer very competitive programs to help them attract, retain and reward key people,” Griswell says.