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220 E. Main Street, Suite 200
Mankato, MN 56001
Phone: (507) 625-2526
Fax: (507) 388-9977

MD Advisors Group

(507) 625-2526


Our firm was founded in September, 1949 by L.K. (Pete) Peterson, who opened an accounting office at 302 South Front Street in downtown Mankato. This ended a several month search for an accounting practice, which began when Pete responded to an article in the Reader’s Digest. The story dealt with Accounting Corporation of America (ACA) and its “Mail Me Monday” bookkeeping system. That system utilized IBM bookkeeping machines, which were the predecessors to the sophisticated computers of today.

Pete began his search for an accounting firm in 1949. He contacted the ACA and began visiting their franchise offices in various cities. In the summer of 1949 he contacted a “master franchisee” of the ACA in Rochester, Minnesota. After spending some time with the Mankato Chamber of Commerce he selected Mankato as his new home and purchased a sub-franchise from the Rochester franchisee. Pete’s area included several counties in and around Mankato.

When he opened his first office he began with only one account, a Purina feed dealer in Gaylord, Minnesota. With only that one account he hired his first staff accountant in October 1949 in anticipation of rapid growth. With the assistance of the Ralston Purina district sales manager, who also was the mayor of North Mankato, he began providing accounting services to a large number of Purina feed dealers.

Pete and his wife, Ginny, traveled across southern Minnesota and Wisconsin monthly, meeting with clients and assisting with their record keeping. As a result of eating out while on the road, he also began to work with restaurant owners and developed a second area of expertise. That area of specialization has continued for the firm to present day.

Our firm has operated continuously for over 65 years. Ownership has passed to employees as the firm’s principals have retired from the profession. The name of the firm has changed as new partners entered. Following are some of the more notable names:

L.K. Peterson Accounting1949Clapper, Landgraff, Milbrett & Co.1988
Larry Fowler Accounting 1962Landgraff, Milbrett & Otto
Fowler, Clapper & Co.1964Landgraff, Milbrett & Co., Ltd.1998
Clapper, Kitchenmaster & Co.
Milbrett, Dauk & Co., Ltd.
Clapper, Landgraff & Co.
MD Advisors Group

The firm has never left the downtown Mankato area, occupying seven different locations. Pete’s vision of personal, quality service to his clients remains strong in our firm today. We have also continued his dedication to the use of current technology in assisting our clients. While technology has changed drastically since those early days, our mission remains the same. We now provide a wide range of accounting and tax services to businesses and individuals throughout the upper Midwest. We would like to express sincere thanks and appreciation to our many loyal clients, some of which have been with us since the early days of L.K. Peterson.


Our mission is to help our clients accomplish their goals by providing the highest quality tax, accounting, bookkeeping, and related advisory services through personal attention to every client.

We strive to be our clients' best advocate and provide exceptional, industry specific service that is customized for our clients' individual and/or business needs. 


MD CPA's & Advisors is committed to outstanding customer service.  Each client is assigned a Certified Public Accountant in charge of their account. We strive to understand each client’s individual needs to provide them services that will help them accomplish their goals. To achieve this, we created the iReach method to develop and practice the following core values, and we continually ask ourselves, "Did iReach today to provide outstanding customer service?". 

Integrity is honesty, openness, and demonstrating mutual respect and trust in others. We will demonstrate integrity by upholding high ethical standards and conducting business in a manner that reflects well upon the reputation of the company and our clients.

Respect will be granted to all clients and will be extended beyond to include respect of our clients’ private and personal information.

Education is vital to providing the highest level of service. As members of the Minnesota Society of Certified Public Accountants we dedicate significant time for continuing education to ensure our staff is well educated on changes in tax law to keep up with new rules and regulations in the financial, accounting and business world.

Agility is our ability to respond to change rapidly and accurately without losing vision of our mission and values. The ever changing trends of the industry and its ups and downs require agile actions by us to ensure our clients are in control of their financial health.

Customer Satisfaction is our ultimate goal. Without the satisfaction of our clients we wouldn’t be in business. Our clients are the foundation of our company and we promise to uphold the highest level of service throughout our professional relationship.

Honesty is key to every relationship. We will provide honest, straightforward information to all our clients in order to create and preserve long lasting relationships while maintaining your financial health.

In addition, we encourage our team members to give back to the community in which they live. We are proud to support and participate in the following service clubs and organizations:

Business Networking International (BNI) - BNI is the largest business networking organization in the world. They offer members the opportunity to share ideas, contacts and most importantly, business referral. Our local chapter meets once a week to get to know more about each other’s businesses and how it can benefit our clients.

Greater Mankato Area United Way - The United Way improves lives by mobilizing the caring power of our community. Helping children succeed, strengthening and supporting families, promoting self-sufficiency and building vital and safe neighborhoods are some of the priorities of the United Way. We have several team members who participate and personally support the efforts of our local United Way.

Sertoma - The primary service project of Sertoma is assisting the more than 50 million people with speech, hearing and language disorders. Sertoma also sponsors community projects to promote freedom and democracy, to assist youth and to benefit a variety of other local community needs

American Institute of Certified Public Accountants - The American Institute of Certified Public Accountants is the national, professional organization for all Certified Public Accountants. Its mission is to provide members with the resources, information, and leadership that enable them to provide valuable services in the highest professional manner to benefit the public as well as employers and clients.

Minnesota Society of Certified Public Accountants - The Minnesota Society of Certified Public Accountants (MNCPA) is a not-for-profit professional organization. They have offered services that support CPAs and other accounting professionals since 1904. There are currently more than 9,000 members working in public accounting, industry, government and education.

QuickBooks ProAdvisor® - All Certified ProAdvisors® are specially trained experts who have earned their credentials by passing a rigorous QuickBooks certification course. They offer a wide range of services, including QuickBooks setup, training, and troubleshooting. In addition, many Certified ProAdvisors® are CPAs, small-business consultants, and tax experts.