Midland Financial Advisors, Inc. (Delafield)

Name: Midland Financial Advisors, Inc.
Address: 524 Milwaukee St., Delafield, WI, 53018
Telephone: 262-303-4503

Midland Financial Advisors, Inc. is a large advisory firm based in Delafield. It manages $243.28 million of regulatory assets for 1,112 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Arizona, California, Florida, and 7 other states.

Midland Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Midland Financial Advisors: assets under management

The assets under management (AUM) of Midland Financial Advisors, Inc. is $243.28 million. The firm's AUM has grown by 27% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $229.79 million in discretionary accounts and $13.49 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $215.77 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $287.05 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 55% of the total AUM. The second-largest asset type is investment and business development companies, which make up 38% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Midland Financial Advisors, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Eric Andrew Chojnicki serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Eric Andrew Chojnicki is individuals with 319 clients and $121.96 million of assets under management. Among the 8 most similar advisory firms, Midland Financial Advisors has the 3rd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $242.55 million for 394 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Midland Financial Advisors doesn't advise any private funds.

Careers at Midland Financial Advisors, Inc.

The company employs 9 people that are either part- or full-time employees. 78 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Eric Andrew Chojnicki has been acting as President since 1 Mar 2017. Heath William Sorenson joined the executive team most recently as the Coo.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Daniel William Wilson	Managing director	1 Aug 2009	Other	2810851
Naomi Karol Ackley	Cco	1 Oct 2016	Other	6289332
Eric Andrew Chojnicki	President	1 Mar 2017	Other	3207622
Heath William Sorenson	Coo	1 Mar 2017	Other	4528655
Inc. Midland States Bancorp	Parent company	1 Mar 2017	75% - 100%	37-1233196

Based in Delafield

The principal office where Midland Financial Advisors, Inc. performs its advisory services is located at 524 Milwaukee St., Delafield, WI 53018, which is also the mailing address of the firm. An additional office of the firm is in Clayton, MO. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 262-303-4503 or by fax 262-303-4325. The normal business hours are 8:00 am - 4:30 pm on Monday - Friday. You can find more information about the New York firm at cedarpointinvestments.com.