First Midwest Investments
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
About
The firm manages roughly $10 million for a small client base and provides investment advisory services to individuals, high‑net‑worth clients, pension and profit‑sharing plans, and business entities. Its offerings include portfolio management for individual accounts and a range of retirement plan services for plan sponsors, including 401(k) plan advising, participant education, and plan search support.
The firm applies fundamental analysis to construct portfolios composed mainly of mutual funds, exchange‑traded funds and individual stocks, and it offers both discretionary and non‑discretionary management arrangements. The brochure indicates the majority of assets are managed on a non‑discretionary basis, with regular weekly portfolio reviews and quarterly client meetings.
Noteworthy for a firm of this size is the depth of its ERISA‑related work: it provides 3(21) non‑discretionary fiduciary services, assists with written Investment Policy Statements, QDIA selection, benchmarking via third‑party providers, participant advice, and fiduciary liability insurance review. The brochure also discloses an unrelated brokerage activity—introducing bank loan participants—that the firm states is not promoted to its advisory clients, reflecting a limited outside affiliation.
Client services
Expertise
Fee options
$0 - $1,000,000: 1.00% annually $1,000,000.01 - $2,000,000: 0.50% annually $2,000,000.01+: Negotiable
Account minimum: $25,000
Main office
Winona MN
Advisors at this office
1
Most active in
Minnesota
Also doing business as
First Midwest Investments · Turek, Lee M.
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
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