{
  "crd_number": 306308,
  "slug": "midwest-heritage-financial-advisors-west-des-moines-ia-306308",
  "primary_business_name": "MIDWEST HERITAGE FINANCIAL ADVISORS",
  "legal_name": "MIDWEST HERITAGE BANK, FSB",
  "dbas": [],
  "city": "West des Moines",
  "state": "IA",
  "country": "United States",
  "cbsa_code": "19780",
  "metro": {
    "cbsa_code": "19780",
    "common_name": "Des Moines",
    "msa_name": "Des Moines-West Des Moines, IA",
    "path": "/advisors/ia/des-moines"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2020-07-10",
  "years_registered": 6,
  "period": "2026-10-01",
  "filing_date": "2026-01-02",
  "carried_forward": false,
  "raum_total": 398657041.0,
  "raum_discretionary": 398657041.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 6,
  "advisory_employees": 4,
  "client_count_bucket": null,
  "clients_by_type": {
    "individuals": {
      "raum": 65673634.0,
      "count": 219
    },
    "high_net_worth_individuals": {
      "raum": 332983407.0,
      "count": 115
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AZ",
    "FL",
    "IA",
    "IL",
    "KS",
    "MO",
    "NE",
    "SD",
    "TX"
  ],
  "websites": [
    "https://midwestheritage.com/investments"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/306308",
  "city_as_filed": "WEST DES MOINES",
  "url": "https://advisorcensus.com/firm/midwest-heritage-financial-advisors-west-des-moines-ia-306308",
  "display_name": "Midwest Heritage Financial Advisors",
  "summary": "Midwest Heritage Financial Advisors is an SEC-registered investment advisory firm in West des Moines, IA, registered since 2020, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated January 2, 2026.",
  "citation": "AdvisorCensus. Midwest Heritage Financial Advisors (CRD 306308): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses"
  ],
  "quick_answers": [
    {
      "q": "How is Midwest Heritage Financial Advisors compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Midwest Heritage Financial Advisors reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees)."
    },
    {
      "q": "Where is Midwest Heritage Financial Advisors located?",
      "a": "Midwest Heritage Financial Advisors' principal office is in West des Moines, IA, according to its Form ADV; the February 2026 filing also lists 2 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Midwest Heritage Financial Advisors registered with the SEC or a state?",
      "a": "Midwest Heritage Financial Advisors is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 306308."
    },
    {
      "q": "How much does Midwest Heritage Financial Advisors manage?",
      "a": "Midwest Heritage Financial Advisors reports $398,657,041 in regulatory assets under management in its Form ADV filing dated January 2, 2026 (100% discretionary)."
    },
    {
      "q": "How have Midwest Heritage Financial Advisors' assets and staff changed since 2021?",
      "a": "In the Form ADV data for Midwest Heritage Financial Advisors: Regulatory assets under management: $112,248,630 in the October 2021 data and $398,657,041 in the October 2026 data, up 255%. Total employees: 2 in October 2021 and 6 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Midwest Heritage Financial Advisors serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (219); high net worth individuals (115)."
    },
    {
      "q": "Which custodians does Midwest Heritage Financial Advisors use?",
      "a": "Midwest Heritage Financial Advisors' most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Midwest Heritage Financial Advisors report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/306308"
    },
    {
      "q": "Does Midwest Heritage Financial Advisors state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated January 2, 2026 says: \"The annual fee is negotiable and there are no account minimums.\""
    },
    {
      "q": "What changed in Midwest Heritage Financial Advisors' recent Form ADV filings?",
      "a": "In the February 2026 filing data: Registered or notice-filed in AZ. Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 112248630.0,
      "total_employees": 2,
      "filing_date": "2021-01-05"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 183219558.0,
      "total_employees": 3,
      "filing_date": "2022-07-29"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 176760496.0,
      "total_employees": 2,
      "filing_date": "2023-09-19"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 223047510.0,
      "total_employees": 2,
      "filing_date": "2024-03-12"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 314203732.0,
      "total_employees": 4,
      "filing_date": "2025-01-02"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 398657041.0,
      "total_employees": 6,
      "filing_date": "2026-01-02"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Registered or notice-filed in AZ.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Regulatory assets under management went from $314,203,732 to $398,657,041 (+27%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated January 2, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "None",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: None (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "The annual fee is negotiable and there are no account minimums."
        ]
      }
    ],
    "quotes": [
      "The annual fee is negotiable and there are no account minimums."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/midwest-heritage-financial-advisors-west-des-moines-ia-306308.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 219,
      "fewer_than_5": false,
      "raum": 65673634.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 115,
      "fewer_than_5": false,
      "raum": 332983407.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/306308",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}