New players are once again looking to get into the fund industry. The latest is Midwest Trust Co., a Kansas City area firm headed by Bradley Bergman. Unified Fund Services Inc. is helping the firm with the funds' creation.

Bergman told The Business Journal of Kansas City that the trust firm plans to open its first two funds this summer in a joint effort with its Financial Counselors Inc. affiliate, an investment advisory firm. He expects to file a prospectus with the SEC for the pair of funds in June.

One fund will likely invest in large-cap equities and other in taxable bonds. Financial Counselors will act as the advisor for both funds.

The funds are intended as a way for the advisory firm's clients with smaller account balances to invest in the firm's portfolios. The funds will waive any minimum investments for clients of Midwest Trust and its affiliates.

"Right now, our average account is $1 million," Bergman told the paper. "This allows us to serve clients who have $50,000 or $100,000 more comfortably than we have."

The funds will also be sold through broker-dealers, according to the paper.  

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