Midwestern Financial Group

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Client assets under management

$169,721,027

Clients

135

30% high-net-worth

Advisors

of 3 employees

Firm type

Supported

1-4 advisors or >$200M in AUM

Clients per advisor

Typical

Average account size

$1,257,193

About

Midwestern Financial Group is an SEC-registered advisory firm (registration effective May 1, 2025) with a three-advisor team managing roughly $172.8 million for about 135 clients. The firm provides discretionary investment management, comprehensive financial planning, and pension consulting to individuals (including high-net-worth clients), retirement plans, and charitable organizations.

The firm combines passive and active approaches—using index mutual funds and ETFs for broad asset-class exposure alongside individual security selection and manager identification—guided by fundamental and cyclical analysis. Portfolios are constructed around client-specific investment policy statements, implemented on a discretionary basis, and reviewed at least quarterly.

Notably, MFG offers periodic educational seminars (including occasional pro bono sessions) and an "Early Investors Program" with low-cost, tiered planning packages for beginning investors, features that are less common among similar firms. The principals also operate a related business-advisory entity and hold minority interests in other private ventures; these outside activities are disclosed in the brochure and may lead to referrals between entities.

Client services

Financial planning Portfolio management Pension consulting Educational seminars or workshops

Expertise

General retirement planning Cash flow / budgeting College savings (529s, UTMA, etc.)

Fee options

Fixed

Financial planning fixed fees between $250 and $35,000; Early Investors Program fees of $399, $549, $799

Percentage

$0 - $1,500,000: 1.00% $1,500,001 - $2,500,000: 0.88% $2,500,001 - $5,000,000: 0.76% $5,000,001 - $10,000,000: 0.64% $10,000,001+: 0.50%

Project-based

$250 per hour for financial planning if agreement terminated early

Other

Fee-only: Financial planning fixed fees range from $250 to $35,000; hourly rate of $250 per hour; Early Investors Program fees: $399, $549, $799

Main office location

Midwestern Financial Group

103 E College Street, Suite 210

Iowa City IA 52240, United States

Number of offices

Most active in

Illinois · Iowa · Texas

Disclosures

Business activities & affiliations

Is not active or affiliated with:

Insurance agent

They sell insurance products and may earn commissions on those sales.

Broker-dealer / trader

They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.

Bank

They're affiliated with a bank that may offer its own financial products and services.

Trust company

They provide trust and estate administration services, typically for separate fees.

Fund sponsor

They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.

Accountant / CPA / tax prep

They offer tax and accounting services, typically for separate fees.

Lawyer

They provide legal services, typically billed separately.

Real estate agent

They facilitate real estate transactions and may earn commissions.

Other specialized services

They may provide services such as pension consulting or municipal advisory work, typically for separate fees.

Forms ADV

Form ADV Part 2: Client Brochure Form ADV Part 3: Client Relationship

Quick links

LinkedIn Facebook X Website 319-499-1620

Advisors at this firm

Patrick C

Series 63, Series 65

Iowa City, IA

Midwestern Financial Group

Patrick Campbell is a financial advisor with Midwestern Financial Group in Iowa City, IA, holding Series 63 and Series 65 licenses and bringing 16 years of industry experience. He is co-owner of MFG Business Advisors, LLC and Waste Water Supply, LLC, both non-investment related businesses. Midwestern Financial Group provides investment management and comprehensive financial planning services to individuals, pension and profit-sharing plans, and charitable organizations. The firm employs a combination of passive and active investment strategies and emphasizes investor education through seminars and a tiered offering for new investors.

General retirement planning Cash flow / budgeting College savings (529s, UTMA, etc.)

Joseph J

Series 66

Iowa City, IA

Midwestern Financial Group

Joseph Jay is a financial advisor at Midwestern Financial Group with 13 years of industry experience. He holds the Series 66 designation and has been co-owner of MFG Business Advisors, LLC since 2017. Outside of advising, he is also co-owner of Waste Water Supply, LLC, a non-investment related business. Midwestern Financial Group provides investment management and comprehensive financial planning to individuals, pension and profit-sharing plans, and charitable organizations. The firm combines passive and active strategies with ongoing account supervision and emphasizes investor education through seminars and a tiered offering for beginning investors.

General retirement planning Cash flow / budgeting College savings (529s, UTMA, etc.)

Andrew P

Series 65

Iowa City, IA

Midwestern Financial Group

Andrew Picchietti is a financial advisor at Midwestern Financial Group in Iowa City, IA, holding a Series 65 designation with three years of industry experience. Prior to joining Midwestern Financial Group, he worked in various roles including positions at Adamantine Spine Moving Company and Riverside Casino & Golf Resort. He also has experience with the University of Iowa Department of Public Safety and was a full-time student at the University of Iowa. Midwestern Financial Group provides investment management and comprehensive financial planning services to individuals, pension and profit-sharing plans, and charitable organizations. The firm uses a combination of passive and active investment strategies and emphasizes investor education through seminars and specialized programs for new investors.

General retirement planning Cash flow / budgeting College savings (529s, UTMA, etc.)

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