Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Pension Consulting Services
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Pension & Profit Sharing Plans
- Charitable Organizations
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Midwest Financial Group LLC Overview
Midwest Financial Group LLC is a fee-only registered investment advisory firm that has been in business since 2015. Based in Overland Park, KS, the company provides investment advice only to clients. Midwest Financial Group LLC offers a range of services, including financial planning, portfolio management for individuals and small businesses, and pension consulting services. The firm's fee-only structure ensures that clients receive unbiased investment advice without any conflict of interest. Looking to help clients achieve their long-term financial goals, Midwest Financial Group LLC provides personalized investment strategies that best match the client's risk profile and investment objectives. The firm believes in delivering exceptional service that exceeds client expectations and strives to build lasting relationships with every client.
MIDWEST FINANCIAL GROUP LLC is a renowned financial advisory firm that caters to a wide range of clients with varying needs. The firm specializes in offering personalized financial services to individuals of all income levels, including high net worth individuals seeking to establish long-term wealth-building strategies. Additionally, MIDWEST FINANCIAL GROUP LLC provides financial guidance to pension or profit sharing plans, helping them navigate complex regulatory requirements to secure retirement benefits for their employees. Moreover, the firm extends its services to charitable organizations, helping them maximize their philanthropic impact while maintaining fiscal responsibility. With its vast expertise in the financial industry, MIDWEST FINANCIAL GROUP LLC is a trusted partner for clients in achieving financial security. MIDWEST FINANCIAL GROUP LLC offers flexible fee structures to better serve its diverse clientele. The firm provides various payment options depending on the type of service provided. For clients seeking asset management, MIDWEST FINANCIAL GROUP LLC charges a percentage of their assets under management (AUM) as compensation. This method aligns the clients' and the firm's interests and incentivizes optimal performance to grow their portfolios. However, hourly rates may be more suitable for clients seeking comprehensive financial planning services. This fee structure enables clients to pay their financial advisors per hour of consultation time, calculated based on the time and effort spent on their financial needs. Alternatively, fixed fees may be more suitable for clients seeking specific services that require a defined scope of work. This fee structure provides clients with a transparent and predictable cost structure, ensuring that there are no surprises when it comes to billing. Overall, MIDWEST FINANCIAL GROUP LLC offers an array of fee structures to meet the diverse needs of its clients and provide them with personalized and cost-effective financial solutions.
Typical Clients, Fee Structures & Investment Minimum
The Part 2 Brochure for Midwest Financial Group LLC does not mention an investment minimum for their Wrap Program account. The firm has not set a minimum investment amount, but they do reserve the right to decline certain accounts if they do not feel it would be beneficial or economical for the client.
How This Office Can Help Platteville, WI Residents
Pine Grove Financial Group provides customized financial planning services to individuals and businesses in Red Wing, MN. With a team of experienced financial advisors, the company helps clients navigate the complex world of finance and make smart investment decisions. Whether someone is planning for retirement, looking to invest their savings, or starting a business, Pine Grove Financial Group can help identify goals and design a personalized financial strategy. Red Wing, MN residents may be facing a range of financial situations, from managing debt to saving for college or putting money aside for unforeseen emergencies. Pine Grove Financial Group offers guidance on everything from budgeting and saving to investing in stocks and bonds, helping clients identify and prioritize their financial goals, and setting realistic timelines for achieving them. The company also offers comprehensive tax planning, estate planning, and retirement planning services, helping clients navigate potential pitfalls and make the most of their investments over the long-term.
Services Offered by Midwest Financial Group LLC
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Midwest Financial Group LLC most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Unavailable
Subscription (Newsletter or Periodical)
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Midwest Financial Group LLC is registered to service clients in the following states:
- Alabama
- California
- Florida
- Georgia
- Iowa
- Kansas
- Louisiana
- Missouri
- Nebraska
- Oklahoma
- Texas
Disciplinary History
Midwest Financial Group LLC does not have any disclosures. Please visit it's Form ADV for more details.