# Midland Wealth Management

Midland Wealth Management is a Bank / Wealth / Trust based in Effingham, United States.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** Effingham, United States
- **Region:** North America
- **Address:** Rockford, IL, United States
- **Founded:** 1990
- **Assets under management:** $500M - $1B (Altss estimate)
- **Website:** midlandwealthmanagement.com
- **LinkedIn:** https://www.linkedin.com/company/midland-wealth-management

## Regulatory record

- **CRD number:** 324997
- **SEC file number:** 801-127578
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-04-29T05:00:00.000Z
- **Reports private funds:** No
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/324997

## About

Midland Wealth Management is an SEC-registered investment adviser in Effingham, IL, registered since 2023. The firm manages $3.2 billion in regulatory assets under management, $3.2 billion on a discretionary basis. It has 32 employees and 19 investment advisers.

## Sectors

- Wealth Management
- Private Banking
- Trust Services

## People

- Douglas J. Stewart — President

## Questions

### Who runs investment decisions at Midland Wealth Management?

Douglas J. Stewart serves as President of Midland Wealth Management. He oversees the firm's investment policy, portfolio construction, and fiduciary services, drawing on a career within the Midland States Bancorp ecosystem. Specific portfolio managers or investment committee members are not publicly disclosed at the individual level. The firm operates within the governance framework of a publicly traded regional bank, subject to OCC and SEC oversight of its trust and advisory activities.

### How does Midland source clients and deal flow?

As an integrated division of Midland States Bancorp, Midland Wealth Management sources clients almost entirely through the bank's 50-plus branch network and commercial lending relationships. Business owners who borrow from the bank, farmers who bank with its agricultural lending team, and depositors who outgrow retail services represent the core referral funnel. The firm does not advertise a third-party RIA distribution channel or independent advisor network.

### What is Midland's known posture on co-investments alongside external managers?

Midland does not promote co-investment programs or club-deal structures. Its trust and advisory accounts hold publicly traded securities and pooled investment vehicles, not discrete co-investment positions in private companies or real estate partnerships. For clients seeking exposure to farmland or agricultural assets, the firm's farm management services offer direct property-level administration rather than pooled LP co-investments.

## Related profiles

- [Midland States Bancorp](https://altss.com/profile/midland-states-bancorp)
- [Midwest Heritage Financial Advisors](https://altss.com/profile/midwest-heritage-financial-advisors)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/midland-wealth-management

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