Midwest Capital Financial Advisors provides financial planning and consulting, investment portfolio management, and retirement plan services. For investment management, they gather information about your financial situation, goals, and risk tolerance to create and manage a portfolio. They manage accounts on a discretionary basis, meaning they can make trades without asking you first. They may also recommend unaffiliated investment managers.
Fee Structure
Midwest Capital Financial Advisors manages your investments for a fee based on a percentage of the assets in your account. The fee varies depending on where your account is held (Moneyblock, Interactive Brokers, or American Funds Service Company) and the amount you have invested. Fees may be negotiable, except for accounts held at American Funds Service Company.
Here's how the fees work depending on the custodian:
Moneyblock:
- Fees are based on the account's asset value as of the last business day of the prior calendar quarter. For example, an account valued at $300,000 would pay 1.25% on the entire account value. An account valued at $510,000 would pay 1.00%.
Interactive Brokers:
- Fees are calculated daily and deducted at the end of the quarter, using a tiered fee schedule. For example, an account valued at $300,000 would pay 1.25% on the first $25,000, plus 1.00% on the next $75,000, plus 0.75% on the next $150,000, plus 0.50% on the remaining $50,000.
American Funds Service Company:
- Fees are calculated daily and deducted at the end of the quarter. For example, an account valued at $40,000 would pay 0.80% on the entire account value. An account valued at $310,000 would pay 0.20%.