Midwestern Financial provides financial planning, portfolio management for individuals and small businesses, pension consulting, and educational seminars. Financial planning was provided to 101–250 clients last fiscal year.
Midwestern Financial reports 135 clients. They include 94 individual clients and 41 high-net-worth individuals. Of its assets, 100.0% ($173M across 548 accounts) are managed with discretion. It advised 5 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 70% | 22% |
| High-net-worth individuals | 30% | 77% |
| Charitable organizations | Fewer than 5 | 1% |
| Corporations and other businesses | Fewer than 5 | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 94 | $37.4M | 21.6% | $398K |
| High-net-worth individuals | 41 | $132M | 76.6% | $3.23M |
| Charitable organizations | Fewer than 5 | $1.75M | 1.0% | — |
| Corporations and other businesses | Fewer than 5 | $1.37M | 0.8% | — |
| Total | 135 | $173M | 100% | — |
- Clients
- 94
- Regulatory AUM
- $37.4M
- AUM share
- 21.6%
- Avg. per client
- $398K
- Clients
- 41
- Regulatory AUM
- $132M
- AUM share
- 76.6%
- Avg. per client
- $3.23M
- Clients
- Fewer than 5
- Regulatory AUM
- $1.75M
- AUM share
- 1.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $1.37M
- AUM share
- 0.8%
- Avg. per client
- —
Total
- Clients
- 135
- Regulatory AUM
- $173M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 5
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
Midwestern Financial charges 0.50%–1.00% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable. The brochure also prices 3 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$1.5M | 1.00% |
| $1.5M–$2.5M | 0.88% |
| $2.5M–$5M | 0.76% |
| $5M–$10M | 0.64% |
| $10M and above | 0.50% |
Fee details and sources
Other fees
- Early Investors Program
- Beginning-investor financial planning at a flat fee of $399, $549 or $799, paid up front.
- Financial Planning Fixed Fee
- Financial planning on a fixed fee from $250 to $35,000, negotiable and billed in advance; early termination is billed at $250 an hour.
- Pension Consulting
- Pension consulting is an annual fee of 1.00% of plan assets, determined each quarter.
Patrick Campbell owns 50% to 75% of Midwestern Financial. It has 3 employees.
Staff
- 3 employees
- 3 in advisory functions
- 3 state-registered reps
- Owns 50% to 75% of Midwestern Financial, LLC
Patrick Campbell
Control person · since May 2015
- Owns 50% to 75% of Midwestern Financial, LLC
Joseph Jay
Control person · since May 2015
Midwestern Financial’s regulatory assets grew from $139M (May 2025) to $173M (March 2026); clients rose from 122 to 135 and employees were 3 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $173M | 135 | 3 | 1 |
| May 2025May 2025 | $139M | 122 | 3 | 1 |
Besides its headquarters, Midwestern Financial has 0 offices, with 1 listed address in 1 state.
Iowa · 1 listed address
- 103 E College Street, Suite 210, Iowa CityHQ
Contact and registration details
- Legal name
- Midwestern Financial, LLC
- Headquarters
- 103 E College Street, Suite 210, Iowa City, IA 52240
- Website
- midwesternfinancial.com
- Phone
- 319-499-1620
- @midwestern-financial-group
- SEC file
- 801-132625
- Structure
- Iowa LLC
- Fiscal year end
- December
Midwestern Financial’s named custodians for separately managed accounts are Charles Schwab ($151M, 88%) and Tiaa-Cref Individual & Institutional Services ($19.9M, 12%). Midwestern Financial has custody of $28.5M for 56 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, CA · $151M88%
- Tiaa-Cref Individual & Institutional ServicesTiaa-Cref Individual & Institutional Services, LLC · New York, NY · $19.9M12%
At year end, Midwestern Financial’s separately managed accounts were mostly in funds (85%). Its reported 13F holdings for the quarter ended 30 June 2026 total $143M across 54 positions; the largest are State Str SPDR S&P 500 ETF T (10.8%), iShares TR (7.4%) and American Centy ETF TR (7.3%).
What the accounts hold
- Stocks8%
- Funds85%
- Bonds8%
- U.S. government and agency bonds6%
- State and local bonds1%
- Investment grade corporate bonds1%
- Cash1%
How many clients does Midwestern Financial have?
Midwestern Financial has 135 clients and manages $173 million for them, as of March 2026. They include 94 individual clients and 41 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 March 2026
What services does Midwestern Financial offer?
Midwestern Financial provides financial planning, portfolio management for individuals and small businesses, pension consulting, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Midwestern Financial charge?
Midwestern Financial charges 0.50%–1.00% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable.
Which custodians does Midwestern Financial use?
Midwestern Financial’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, CA), with $151M and Tiaa-Cref Individual & Institutional Services, LLC (New York, NY), with $19.9M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 March 2026
How many financial advisors does Midwestern Financial have?
Midwestern Financial has 3 investment adviser representatives registered with state securities authorities, out of 3 employees, and 3 perform investment advisory functions. None are registered representatives of a broker-dealer or 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 Midwestern Financial invest in?
At the end of its last fiscal year, Midwestern Financial’s separately managed accounts held 85% registered funds (mutual funds, ETFs, BDCs), 8% exchange-traded equities, 6% U.S. government and agency bonds, 1% state and local bonds, 1% investment grade corporate 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 Midwestern Financial?
Midwestern Financial’s direct owners are Patrick Campbell (50% to 75%) and Joseph Jay (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 27 March 2026
How does Midwestern Financial get paid?
Midwestern Financial is paid through a percentage of assets under management, hourly charges and fixed fees. 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
How do I contact Midwestern Financial?
Midwestern Financial’s main office is at 103 E College Street, Suite 210, Iowa City, IA 52240. Its phone number is 319-499-1620. Its website is midwesternfinancial.com.