# Midwest Heritage Financial Advisors

> 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.

- CRD: 306308
- Filed as: MIDWEST HERITAGE FINANCIAL ADVISORS
- Legal name: Midwest Heritage Bank, FSB
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: West des Moines, IA
- Filing period: October 2026
- Form ADV filing dated: January 2, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/306308
- AdvisorCensus page: https://advisorcensus.com/firm/midwest-heritage-financial-advisors-west-des-moines-ia-306308

## Quick answers

**How is Midwest Heritage Financial Advisors compensated?**
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).

**Where is Midwest Heritage Financial Advisors located?**
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).

**Is Midwest Heritage Financial Advisors registered with the SEC or a state?**
Midwest Heritage Financial Advisors is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 306308.

**How much does Midwest Heritage Financial Advisors manage?**
Midwest Heritage Financial Advisors reports $398,657,041 in regulatory assets under management in its Form ADV filing dated January 2, 2026 (100% discretionary).

**How have Midwest Heritage Financial Advisors' assets and staff changed since 2021?**
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.

**What types of clients does Midwest Heritage Financial Advisors serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (219); high net worth individuals (115).

**Which custodians does Midwest Heritage Financial Advisors use?**
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.

**Does Midwest Heritage Financial Advisors report any disciplinary disclosures?**
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

**Does Midwest Heritage Financial Advisors state an account minimum?**
Its Form ADV Part 2A brochure dated January 2, 2026 says: "The annual fee is negotiable and there are no account minimums."

**What changed in Midwest Heritage Financial Advisors' recent Form ADV filings?**
In the February 2026 filing data: Registered or notice-filed in AZ. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated January 2, 2026)

- Account minimum: None (the brochure says it may be waived or negotiated)

> The annual fee is negotiable and there are no account minimums.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

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.

### Regulatory assets under management (Item 5.F)
- Total: $398,657,041
- Discretionary: $398,657,041
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 219 | $65,673,634 |
| High net worth individuals | 115 | $332,983,407 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 2020 (6 years)
- Employees: 6 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, FL, IA, IL, KS, MO, NE, SD, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the February 2026 filing
- Chariton, IA
- Grimes, IA

### Websites listed on Form ADV (Item 1.I)
- midwestheritage.com/investments

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $112,248,630 | 2 | January 5, 2021 |
| October 2022 | $183,219,558 | 3 | July 29, 2022 |
| October 2023 | $176,760,496 | 2 | September 19, 2023 |
| October 2024 | $223,047,510 | 2 | March 12, 2024 |
| October 2025 | $314,203,732 | 4 | January 2, 2025 |
| October 2026 | $398,657,041 | 6 | January 2, 2026 |

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.

## Changes in the filing (last 12 months)

### February 2026
- Registered or notice-filed in AZ.
- Updated its list of owners and control persons (Schedule A).

### December 2025
- Regulatory assets under management went from $314,203,732 to $398,657,041 (+27%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Midwest Heritage Financial Advisors (CRD 306308): Form ADV filing data as of October 2026.