Midwest Capital Advisors, LLC

CRD#125389
Investment Advisor Firm

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Overview

Midwest Capital Advisors, LLC is located at 630 Kenmoor Ave. SE, Grand Rapids, MI. The firm employs 7 financial advisors to manage client portfolios and provide financial guidance. Midwest Capital Advisors, LLC is not a registered broker-dealer.

Midwest Capital Advisors, LLC oversees $947.3 million in assets under management across 891 accounts, of which 886 are discretionary and 5 are non-discretionary. The services offered include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, educational seminars, and other services. The firm caters to retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities, corporations, and other types of investors, with retail investors being the largest client type by accounts. The fee structure at Midwest Capital Advisors, LLC includes asset-based, fixed, and other fees. The firm has 100 high net worth clients.

Midwest Capital Advisors, LLC is registered in the states of Illinois and Michigan.

Assets Under Management

$947.3 million

Number of Advisors

7

Disclosures

No

Office Location

630 Kenmoor Ave. Se
Grand Rapids, MI 49546

Midwest Capital Advisors, LLC by the Numbers

Total Assets Under Management

$947.3 million

National Average: $8.6 billion
Total Number of Employees

8

National Average: 64
Total Number of Accounts

891

National Average: 375,227
Average Account Size

$1.1 million

National Average: $23.0 thousand
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Products and Services

Midwest Capital Advisors, LLC offers a number of financial services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, educational seminars, and other services. However, Midwest Capital Advisors, LLC did not provide financial planning services to any of its customers in the prior fiscal year. It is not involved in selling products or offering services apart from investment advisory services to its investment advisory accounts.

Core Advisor Services

  • Offered by 31% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 46% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

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    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

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    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

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    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 6% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Fees for financial advice usually depend on which service is provided. Fees billed by Midwest Capital Advisors, LLC likely consist of any combination of the following fee types: asset-based, fixed, or other.

Available

  • Offered by 69% of firms

    Percentage of Assets

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    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 32% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

  • Offered by 10% of firms

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

Unavailable

  • Find one of the 21% of firms that offer this fee type

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Find one of the 1% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 26% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

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Types of Clients

The company works with a broad range of investors. The company works with retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities, corporations, and other. Out of its 7 clients, Midwest Capital Advisors, LLC's biggest client group by number of accounts is pension plans, though it also serves 100 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 in AUM or a net worth of more than $1,50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments).

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  • High-Net-Worth Individuals* - 26.39%
  • Other Individuals - 56.46%
  • Corporations - 15.83%
  • Charitable Organizations - 1.32%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Midwest Capital Advisors, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Created with Highcharts 6.0.7
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Financial Advisors at Midwest Capital Advisors, LLC

Jack Tunge
Grand Rapids, MI
Olivia Terry
Grand Rapids, MI
Mark Satkoski
Grand Rapids, MI
Shane Myas
Grand Rapids, MI
Stephen Witte
Grand Rapids, MI
Jeffrey Freeberg
Grand Rapids, MI
Michael Desmyter
Grand Rapids, MI

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SmartAsset’s free advisor matching tool makes it easier to find a vetted advisor so you can make an informed decision and choose one that you feel best suits your individual needs. Click here to find your advisor matches today.

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The content in this profile was updated by SmartAsset on 6/19/2024. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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