He Bought A Church | Converted Church Offers Complementary Financial Services
Photos by JOHN BURNS
A ONE-STOP SHOP
When a vacant church adjacent to his southwest Topeka home became available for purchase, Steve Reichle, a registered independent advisor with Midwest Financial Partners, saw potential in converting the property into a one-stop shop for customers seeking assistance for a variety of services — retirement and estate planning, wills, trusts, accounting consultation and more.
Initially, Reichle’s interest in buying the abandoned building stemmed from a preservation angle, both to restore the structure to a viable use and to protect the aesthetics of his neighborhood.
After purchasing the Good Shepherd Church/Arising Faith at 7630 SW 21st St. at a one-day auction in January 2020, he offered the building to another church he thought might be interested. When the pastor passed on the opportunity, Reichle started considering the possibilities that could come from repurposing the structure into shared office space.
A CONCEPT IS CREATED
“People are often overwhelmed at the prospect of preparing for retirement and creating an estate plan,” Reichle said. “I thought having one place for them to go for complementary services would make the process more convenient and less stressful.”
Reichle pitched his concept to Deborah Mikoleit, founder and president of Mikoleit Inc., which provides accounting and tax services for small businesses.
Professional acquaintances with mutual clients, Reichle and Mikoleit both operated their businesses in separate strip malls near Wanamaker Road and each had considered upgrading their offices to accommodate growth and add amenities.
“When I realized my company was going to occupy half the building, we discussed the possibility of me becoming a co-owner,” Mikoleit said. “I liked the idea of designing our workspace and being able to walk clients across the hall to meet with a financial planner instead of handing them a business card to follow up with someone on their own.”
An initial hurdle included working with the Shawnee County Planning Commission to change the property’s zoning from residential to commercial. Bryan Falk, Falk Architects Inc., and his team assisted Reichle and Mikoleit with the rezoning efforts and drew up plans to transform the sanctuary, a nursery and other spaces into offices and a glass-walled interior conference room.
Murray & Sons Construction Co. executed the vision from start to finish in about four months and the project was completed in May 2022.
Instead of being a hindrance, the high-ceilinged sanctuary was “an asset because we could run all of the duct and electrical work through the top so we didn’t need to break up any concrete,” said Scott Murray, vice president of Murray & Sons Construction Co. “The remodel went really smoothly and if something did come up, we got the owners involved right away so they could weigh their options.”
“Giving new life to an existing building makes sense for a lot of reasons from a value standpoint,” Falk said. “It’s more energy efficient and better for the environment to renovate because you’re using resources that are already available.”
Falk credits Reichle with having a strong vision for what he wanted to accomplish to help shape their planning discussions.
“We love solving problems for clients and helping them realize their ideas in the most cost-effective, beautiful way possible to make their space more visually appealing and functional,” Falk said. “It was great for us to be part of a renovation that will grow the economy and build their business.”
Murray agreed. “With every project, we want the owners to be happy with what they end up with and have it finished on time and within budget.”
VALIDATING A LEAP OF FAITH
Although buying the church took a leap of faith, Reichle said serendipitous turns along the way have validated his decision.
For example, just one day after he received the keys to the property, he noticed a police officer parked in the lot doing paperwork.
“Through our conversation, I found out his wife was an estate planning attorney with Riordan, Fincher & Mayo PA, which had offices across the hall from us at our previous location,” he said. “Now Lauren Bartee and Andy Mayo are here one day a week or as needed to provide legal services for our clients. It just seemed like this venture was destined to work from the beginning.”
The model is a more comprehensive version of a similar business configuration at Midwest Financial Partners’ Overland Park office where its registered independent advisors work in proximity with specialists in accounting, annuities, health care and Medicare.
Cole Reichle, a registered independent advisor with Midwest Financial Partners, works in Overland Park four days a week and in Topeka one day a week.
He discovered his father’s plans for a consolidated financial services complex through a phone call.
“I asked where he was because there was wind in the background and he said he was outside the courthouse getting ready to buy a church,” Cole said. “We communicate daily so he kept this one close to the vest because he wanted to confirm things before making an announcement and surprising me.”
Although the move caught him by surprise, Cole said now he’s “amazed by how well it all turned out.”
Mikoleit, a certified public accountant who started her business in 1996 after working at BNSF for several years, said the comprehensive financial services model has been well received.
“When our clients want to roll their company 401(k) plan into an IRA, the Midwest Financial Partners team can guide them through the process and provide input on Social Security options based on their individual situations,” she said. “Our clients also like having ample parking and a bright and open office to come to consult with us.”
Among their myriad responsibilities, Mikoleit and her son Nathan, an enrolled agent and a registered independent advisor with Midwest Financial Partners, and staff assist clients with tax implications for Required Minimum Distributions, pensions and other retirement considerations.
“We’ve been able to take a bigger, collaborative approach to what we’re doing to help people do the right things to prepare for the future,” Reichle said. “We have the freedom to be our own bosses, yet we work as a team with people who share our values for serving customers.”
HOLISTIC APPROACH TO FINANCIAL PLANNING
High-quality customer service delivery is an embedded management philosophy throughout the financial services complex.
“The most satisfying thing about this work is providing good advice to people one-on-one and having them know that they can reach out at any time to talk through their questions,” Mikoleit said.
“As fiduciaries, our practice provides holistic financial planning to accomplish an individual’s goals,” said Rick Ryan, a registered independent advisor with Midwest Financial Partners. “If someone has a sum to invest, we don’t just look for a place to put the funds. We work with the individual to cover investment, tax, estate planning, retirement planning and risk management considerations to understand how we can best help and add value.”
He said recently a couple came in seeking assistance when their previous financial professional only wanted to communicate with them through text messages.
“People are looking for face-to-face conversations to navigate economic complexities, and that’s what we provide,” Ryan said. “We have a serve vs. sell philosophy and our new office arrangement complements that.”
When client conversations delve into taxation concerns, Ryan said, “Deborah’s team has a higher level of tax expertise, so it’s easy to bring them into the discussion. Our customers appreciate the convenience.”
The convenience aspect is not only beneficial for clients but also for the professionals who share the collective space.
“We don’t pretend to know everything so it’s handy to have great relationships with experts in other specialties who are nearby,” Cole said. “We’re all rowing in the same boat and are invested in the same things to help our clients.”
Working in an industry built on relationships, Reichle appreciates the importance of cultivating connections with colleagues as well as clients.
“Every day the financial services business changes, so being able to work together and learn from one another helps us stay informed so our clients can achieve their goals,” Reichle said. “Having a one-stop shop benefits all of us.”
