Midwest Wealth Management (MWM) provides investment advice and financial planning services. MWM offers investment management through Orion Portfolio Solutions and recommends third-party managers. MWM monitors the performance of these managers to ensure they align with your investment goals. Financial planning services cover retirement, education, legacy, insurance, investment, budget, debt management, tax, and major purchase planning, as well as cash flow analysis. Financial consulting is provided at no additional cost to advisory clients.
Fee Structure
Midwest Wealth Management offers investment management through Orion Portfolio Solutions and third-party managers.
For Orion Portfolio Solutions, the annual advisory fee is 1% of the assets they manage. This fee may be negotiable. In addition to MWM's fee, Orion Portfolio Solutions charges its own fees, which may include administration fees (0.08% - 0.45%), account maintenance fees ($25 or $50 annually), strategist fees (0.0% to 0.25%), and separately managed account fees (0.35% to 0.70%). The total annual fees for the Orion Portfolio Solutions program may not exceed 2% of assets under management.
For third-party managers, such as Gradient Investments, the fees vary depending on the portfolio type:
- Strategic Portfolios: 1.90% annually (0.90% to Gradient Investments, 1.00% to MWM)
- Tactical Portfolios: 1.75% annually (0.75% to Gradient Investments, 1.00% to MWM)
- Allocation & Defined Outcome Portfolios: 1.65% annually (0.65% to Gradient Investments, 1.00% to MWM)
- Preservation Portfolios: 1.00% annually (0.40% to Gradient Investments, 0.60% to MWM)
- Private Wealth Portfolios: 1.50% annually (0.50% to Gradient Investments, 1.00% to MWM)
For Client Directed Accounts, Gradient Investments charges a flat fee of $300 annually, and MWM does not receive any portion of this fee.