Midwest Financial Associates provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and pension consulting.
Midwest Financial Associates reports 301 clients. They include 260 individual clients, 26 high-net-worth individuals, and 13 pension and profit-sharing plans. Of its assets, 100.0% ($124M across 632 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 86% | 41% |
| High-net-worth individuals | 9% | 51% |
| Pension and profit-sharing plans | 4% | 7% |
| Corporations and other businesses | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 260 | $51.1M | 41.2% | $196K |
| High-net-worth individuals | 26 | $63.1M | 51.0% | $2.43M |
| Pension and profit-sharing plans | 13 | $8.53M | 6.9% | $656K |
| Corporations and other businesses | Fewer than 5 | $1.18M | 1.0% | $592K |
| Total | 301 | $124M | 100% | — |
- Clients
- 260
- Regulatory AUM
- $51.1M
- AUM share
- 41.2%
- Avg. per client
- $196K
- Clients
- 26
- Regulatory AUM
- $63.1M
- AUM share
- 51.0%
- Avg. per client
- $2.43M
- Clients
- 13
- Regulatory AUM
- $8.53M
- AUM share
- 6.9%
- Avg. per client
- $656K
- Clients
- Fewer than 5
- Regulatory AUM
- $1.18M
- AUM share
- 1.0%
- Avg. per client
- $592K
Total
- Clients
- 301
- Regulatory AUM
- $124M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Midwest Financial Associates charges 0.65%–0.90% a year for its Portfolio management services. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Pension, 401(k) and profit sharing plan fees
- Fees for pension, group 401(k) and profit sharing plans are charged on an annualized basis and may be as low as 0.20%.
CJT356 Trust owns 75% or more of Midwest Financial Associates and is in turn owned by Timothy Knauf (75% or more). The leadership team of Midwest Financial Associates includes President Timothy Knauf. It has 4 employees, 1 of them in advisory roles.
Leadership
- Timothy KnaufCCO President
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
Staff
- 4 employees
- 1 in advisory functions
- 2 state-registered reps
- 3 insurance agents
- Owns 75% or more of Midwest Financial Associates, Inc.
CJT356 Trust
Control person · since January 2020
- Owns 75% or more of CJT356 Trust
Timothy Knauf
Control person · since July 2001
Besides its headquarters, Midwest Financial Associates has 0 offices, with 1 listed address in Illinois.
Illinois · 1 listed address
- 4615 E State Street, Suite 102, RockfordHQ
Contact and registration details
- Legal name
- Midwest Financial Associates, Inc.
- Headquarters
- 4615 E State Street, Suite 102, Rockford, IL 61108
- Website
- Not reported
- Phone
- 779-210-2930
- SEC file
- 801-135945
- Structure
- Illinois corporation
- Fiscal year end
- December
Midwest Financial Associates uses Charles Schwab ($116M) as custodian for its separately managed accounts. Midwest Financial Associates has custody of $1.16M in client assets for 1 client.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $116M100%
At year end, Midwest Financial Associates’ separately managed accounts were largely in stocks (39%) and funds (33%).
What the accounts hold
- Stocks39%
- Funds33%
- Bonds27%
- Investment grade corporate bonds23%
- State and local bonds4%
- Cash1%
How many clients does Midwest Financial Associates have?
Midwest Financial Associates has 301 clients and manages $124 million for them, as of July 2026. They include 260 individual clients, 26 high-net-worth individuals, and 13 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 7 July 2026
What services does Midwest Financial Associates offer?
Midwest Financial Associates provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Midwest Financial Associates charge?
Midwest Financial Associates charges 0.65%–0.90% a year for its Portfolio management services. The fee is billed in advance and is negotiable.
Source: FIRM BROCHURE, filed 7 July 2026
Which custodians does Midwest Financial Associates use?
Midwest Financial Associates’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $116M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 7 July 2026
How many financial advisors does Midwest Financial Associates have?
Midwest Financial Associates has 2 investment adviser representatives registered with state securities authorities, out of 4 employees, and 1 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 3 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Midwest Financial Associates invest in?
At the end of its last fiscal year, Midwest Financial Associates’ separately managed accounts held 39% exchange-traded equities, 33% registered funds (mutual funds, ETFs, BDCs), 23% investment grade corporate bonds, 4% state and local bonds and 1% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Midwest Financial Associates?
Midwest Financial Associates is owned through a trust by Timothy Knauf. Its direct owner is CJT356 Trust (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 7 July 2026
How does Midwest Financial Associates get paid?
Midwest Financial Associates is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Midwest Financial Associates registered with the SEC?
Yes, Midwest Financial Associates has been registered with the SEC as an investment adviser since 23 April 2026. Its CRD number is 158573 and its SEC file number is 801-135945.
Source: Form ADV Part 1A, Item 1, filed 7 July 2026; IAPD firm record
How do I contact Midwest Financial Associates?
Midwest Financial Associates’ main office is at 4615 E State Street, Suite 102, Rockford, IL 61108. Its phone number is 779-210-2930.