Midwest Financial Partners

What Midwest Financial Partners does

Midwest Financial Partners Investments, Inc. (dba Midwest Financial Partners, Inc., dba MFP) is a privately held Registered Investment Adviser founded in 1934 and headquartered at 912 W. St. Germain Street, Suite 300, St. Cloud, Minnesota. The firm delivers personalized financial advisory services under formal client service agreements through properly licensed representatives, with revenue generated through recurring advisory fees. Its core offerings span death and disability planning, education expense planning, retirement planning, investment accumulation and distribution, and business succession — serving individual and family clients as the primary segment and business clients as a secondary segment, primarily within Minnesota.

The firm operates with approximately 27 associates organized across specialized roles including Financial Advisors, a Retirement Plan Advisor/Chief Compliance Officer, Portfolio Manager, Director of Operations, Tax and Investment Coordinators, Paraplanners, Insurance Coordinator, Technology Strategist, and a Trading Specialist. Client engagement is supported through two third-party technology platforms: the Envestnet Tamarac Client Portal — implemented in Q1 2019 to replace Morningstar as the firm's "one-stop-shop" for advisory asset allocation and performance reporting — and Pershing's NetX Investor, which provides clients access to monthly account statements, with Pershing also serving as the clearing firm for client accounts.

Distribution is entirely direct and relationship-based, relying on licensed representatives, referrals, and an Investor Access portal for client reporting. The firm operates from a single St. Cloud office, has no disclosed institutional or venture backing, no subsidiaries, no public listings, and no disclosed M&A, funding, or geographic expansion activity. Ownership appears to be retained by founders and/or management, consistent with an independent, relationship-driven regional RIA model.

Name

Midwest Financial Partners

Legal name

Midwest Financial Partners Investments, Inc.

Website

https://mfpmn.com

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

11–50 employees

Short description

Midwest Financial Partners is a privately held Registered Investment Adviser based in St. Cloud, Minnesota, providing retirement, wealth, and financial planning advisory services to individual families and businesses primarily in Minnesota.

Ownership category

akta.pro rank

Product category

Investment Advisory Services

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Fee-Only Advisory (FSAEAAAL)

Keywords

• Investment advisory services
• Retirement planning
• Wealth management
• Financial planning
• Asset management

Headquarters

HQ city

Saint Cloud

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Investment Advisory Services: The firm operates as a Registered Investment Adviser and generates revenue through advisory fees. Services are provided under client service agreements. Advisory fees are only rendered when a client service agreement is in place.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Midwest Financial Partners is a Registered Investment Adviser providing personalized financial advisory services. The firm helps individual and business clients plan for death, disability, education expenses, and retirement, while also offering investment accumulation and distribution strategies. Services are delivered by licensed financial advisors under client service agreements, with portfolio management and reporting supported by third-party technology platforms (Envestnet Tamarac and Pershing's NetX Investor).

Product overview

Midwest Financial Partners operates as a Registered Investment Adviser offering a unified financial advisory service rather than discrete software products. The core offering consists of personalized financial planning services for death and disability planning, investment accumulation and distribution, and retirement. Client engagement is supported through two integrated technology platforms: the Envestnet Tamarac Client Portal (providing asset allocation tools and performance reporting) and NetX Investor via Pershing (providing account statement access). The firm positions these platforms as conveniences to help clients manage and simplify their financial lives.

Differentiator

Problem solved

Functional benefit

Products and services

• Financial Advisory Services

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature2 records

Partnerships

Two partnerships are on record, tiered core.

• Envestnet TamaraccoreTechnology or IntegrationEnvestnet Tamarac provides advisory asset allocation and performance reporting functionality. This platform replaced Morningstar as the firm's 'one-stop-shop' for advisory services in Q1 2019. Clients access this platform through the MFP portal for portfolio management and performance tracking.
• PershingcoreTechnology or IntegrationPershing provides the NetX Investor platform enabling client access to monthly account statements. Through Pershing's platform, clients can view and manage their investment accounts. Pershing serves as the clearing firm for client accounts.

Scale indicators1 record

Recent moves3 records

Expansion highlights3 records

Broad incumbents

• Mercer Advisors: Large national RIA providing wealth management, investment advisory, tax, estate, and family office services. Overlapping services but broader geographic footprint and scale.
• Cetera Financial Group: Large IBD/RIA platform providing compliance, technology, and operations support to independent financial advisors. Indirect peer through advisor-services infrastructure that serves similar small/mid RIA firms.
• Edelman Financial Engines: Large national RIA offering financial planning, investment management, and retirement income planning for individuals. Overlapping target customer and service mix at much larger scale.

Direct peers

• Carson Group: RIA platform serving individuals and families with financial planning, investment management, and coaching services for advisors. Comparable fee-only RIA focus and partner-style growth strategy.
• Creative Planning: Fee-only RIA providing comprehensive wealth management, tax, estate, and retirement planning to individuals and families nationwide. Direct comparable to MFP's full-service RIA offering.
• Sanctuary Wealth: RIA platform supporting independent financial advisors with compliance, technology, and operations infrastructure. Comparable independent RIA positioning with partner-network growth model.
• Buckingham Strategic Wealth: Fee-only RIA providing comprehensive financial planning, investment management, and tax services for individuals and families. Closely aligned service mix and client profile to MFP.
• Moneta Group: Independently owned RIA serving high-net-worth individuals and families with comprehensive financial planning, investment management, and retirement services. Highly comparable mid-size independent RIA model.
• Mariner Wealth Advisors: National RIA offering comprehensive financial planning, investment management, tax, estate, and retirement services to individuals and families. Same core RIA service model as MFP, though at significantly greater scale.

Regional players

• Plante Moran Financial Advisors: Midwest-based RIA affiliated with Plante Moran accounting firm, offering financial planning and investment advisory to individuals and businesses. Geographic and service overlap with MFP.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Midwest Financial Partners