Principal Funds, a mutual funds provider, announced plans to ramp up its investment-only strategy aimed at third-party asset accumulation advisors.

The IO plan offers funds and services to financial professionals with third-party administrators, registered investment advisors, recordkeepers and other investment platforms, according to Principal Funds, a unit of Principal Financial Group Inc., Des Moines.

To run the IO program, the company has hired Mark Marwede as its managing director. Marwede, most recently a senior vice president at Fidelity Investments, will direct 4 directors of IO sales and a wholesale distribution team.