# MWA Financial Services, Inc.

> MWA Financial Services, Inc. is an SEC-registered investment advisory firm in Rock Island, IL, registered since 2016, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated May 1, 2026.

- CRD: 112630
- Filed as: MWA FINANCIAL SERVICES, INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Rock Island, IL
- Filing period: October 2026
- Form ADV filing dated: May 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/112630
- AdvisorCensus page: https://advisorcensus.com/firm/mwa-financial-services-inc-rock-island-il-112630

## Quick answers

**How is MWA Financial Services, Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), MWA Financial Services, Inc. reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**Where is MWA Financial Services, Inc. located?**
MWA Financial Services, Inc.'s principal office is in Rock Island, IL, according to its Form ADV; the June 2026 filing also lists 25 other offices (Schedule D, Section 1.F).

**Is MWA Financial Services, Inc. registered with the SEC or a state?**
MWA Financial Services, Inc. is an SEC-registered investment advisory firm, registered since 2016. Status as filed: Approved. CRD 112630.

**How much does MWA Financial Services, Inc. manage?**
MWA Financial Services, Inc. reports $639,989,844 in regulatory assets under management in its Form ADV filing dated May 1, 2026 (0% discretionary).

**How have MWA Financial Services, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for MWA Financial Services, Inc.: Regulatory assets under management: $65,469,160 in the October 2021 data and $639,989,844 in the October 2026 data, up 878%. Total employees: 663 in October 2021 and 721 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does MWA Financial Services, Inc. serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (1,905); high net worth individuals (76); charitable organizations (17).

**Which custodians does MWA Financial Services, Inc. use?**
MWA Financial Services, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Assetmark Trust and Pershing LLC as custodians holding 10% or more of its separately managed account assets.

**Does MWA Financial Services, Inc. report any disciplinary disclosures?**
Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.D(1) (another regulator's finding of a false statement or omission, or of dishonest, unfair, or unethical conduct) and 11.D(2) (another regulator's finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/112630

**What changed in MWA Financial Services, Inc.'s recent Form ADV filings?**
In the June 2026 filing data: Item 11 disclosure answers changed: 2 yes answers, previously 3 (now no: 11.D(4)).

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- Assetmark Trust
- Pershing LLC

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: $639,989,844
- Discretionary: $0
- Non-discretionary: $639,989,844

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 1,905 | $504,643,056 |
| High net worth individuals | 76 | $118,333,766 |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 17 | $9,697,558 |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 14 | $7,315,464 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2016 (10 years)
- Employees: 721 total, 164 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 2 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(1): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/112630

### Other offices (Schedule D, Section 1.F), as of the June 2026 filing
- Amarillo, TX
- Bettendorf, IA
- Brookfield, WI
- Columbus, OH
- Conway, AR
- Culver City, CA
- Dallas, TX
- Davenport, IA
- Denton, TX
- Edmond, OK
- Edwardsburg, MI
- Grand Rapids, MI
- Huntsville, AL
- Laguna Hills, CA
- Lansing, MI
- Lexington, KY
- Mansfield, OH
- Maumee, OH
- Milwaukee, WI
- Ontario, CA
- Phoenix, AZ
- Raleigh, NC
- Tulsa, OK
- Wales, WI
- Wilmington, NC

### Websites listed on Form ADV (Item 1.I)
- modern-woodmen.org
- Facebook @MODERNWOODMEN
- Instagram @modernwoodmen1883
- LinkedIn @modern-woodmen-of-america
- X @MODERNWOODMEN
- YouTube @ModernWoodmen1883

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $65,469,160 | 663 | August 25, 2021 |
| October 2022 | $101,321,860 | 675 | May 17, 2022 |
| October 2023 | $135,611,907 | 689 | March 31, 2023 |
| October 2024 | $216,092,715 | 685 | July 17, 2024 |
| October 2025 | $376,859,066 | 674 | June 5, 2025 |
| October 2026 | $639,989,844 | 721 | May 1, 2026 |

Regulatory assets under management: $65,469,160 in the October 2021 data and $639,989,844 in the October 2026 data, up 878%.
Total employees: 663 in October 2021 and 721 in October 2026.

## Changes in the filing (last 12 months)

### June 2026
- Item 11 disclosure answers changed: 2 yes answers, previously 3 (now no: 11.D(4)).

### May 2026
- Item 11 disclosure answers changed: 3 yes answers, previously 2 (now yes: 11.D(4)).
- Registered or notice-filed in RI.

### April 2026
- Item 11 disclosure answers changed: 2 yes answers, previously 3 (now no: 11.D(4)).
- Employees performing advisory functions went from 134 to 164.
- Regulatory assets under management went from $376,859,066 to $639,989,844 (+70%).
- Changed its office addresses in Huntsville, AL.
- Changed its office addresses in Wilmington, NC.
- Added an office in Amarillo, TX.
- Added an office in Columbus, OH.
- Added an office in Conway, AR.
- Added an office in Culver City, CA.
- Added an office in Edwardsburg, MI.
- Added an office in Grand Rapids, MI.
- Added an office in Lansing, MI.
- Added an office in Maumee, OH.
- Added an office in Phoenix, AZ.
- No longer lists an office in Castro Valley, CA.
- No longer lists an office in Greenwood, IN.
- No longer lists an office in Lewiston, ME.
- No longer lists an office in Palm Desert, CA.
- No longer lists an office in Roanoke Rapids, NC.
- No longer lists an office in Spearfish, SD.
- No longer lists an office in Waterford, WI.
- Updated its list of owners and control persons (Schedule A).

### March 2026
- Registered or notice-filed in DC.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. MWA Financial Services, Inc. (CRD 112630): Form ADV filing data as of October 2026.