Built For More, Better, and Different: Magellan Financial

By Hope Dimick
Photos by Brian Peters

Six years ago, Magellan Financial moved into its current headquarters believing it had room to grow. Today, the company is preparing for its next chapter after outgrowing that space far sooner than expected.

Magellan Financial’s expansion reflects continued investment in people, place and long-term growth in Topeka.

The company recently announced an expansion project expected to create 175 jobs over the next five years and generate an estimated $1.37 billion in economic impact over the next decade. The project is supported through a Joint Economic Development Organization, or JEDO, incentive agreement.

For Jarrod Florence, president of Magellan Financial, the project is a practical response to growth.

“We’ve outgrown this current space and we need room to keep building the infrastructure we need,” Jarrod said. “We want to continue serving our clients, our staff, our partners and the people that we’ve made promises to.”

Magellan plans to expand into a new facility across the street from its headquarters at 1315 SW Arrowhead Road, creating room for additional employees, expanded operations and future development. Jarrod says the need became increasingly clear as the company continued serving a growing network of clients and partners across the country.

Founded in Topeka in 2002, Magellan Financial partners with independent insurance agents and financial advisors nationwide, providing marketing support, business development resources and investment management solutions designed to help advisors grow and serve their clients.

Jarrod says the decision to remain and invest in Topeka was straightforward.

“Topeka was the obvious choice. We are from here. We have built here. And now we are choosing to keep growing here.”

He adds that the region’s workforce, established business relationships and the company’s history in Topeka were key factors in the decision. As the company has evolved, so have its workforce needs. What began with a narrower operational focus now requires expertise across operations, administration, technology, marketing and software development.

MORE, BETTER AND DIFFERENT

Jarrod describes the company’s growth philosophy in three words: more, better and different. The expansion creates opportunities to add talent and strengthen operations as Magellan continues to grow.

“For us, more, better and different is not just a slogan,” Jarrod said. “It is the standard. It is how we think about serving our advisor partners, supporting our employees and building the company for the future.”

He adds that the most important investment is not a building.

“The biggest and most critical thing that we have, that we need, and that we can go find is people,” Jarrod said.

Many of Magellan’s employees have spent a decade or more with the company. Employee referrals have become one of the clearest indicators of that culture.

“If I have a bunch of people running around me that can’t wait to refer the next person to come work here, then it’s working,” he said.

BUILDING THE WORKFORCE OF THE FUTURE

The 175 projected jobs will span a wide range of functions, reflecting how much the workforce supporting financial services has changed over the past two decades.

What once centered primarily on sales and processing functions now includes operations, administration, technology, automation, digital marketing and software development.

The shift reflects broader changes across the financial services industry, where technology, automation and artificial intelligence are reshaping how organizations operate and how clients expect to be served.

“The industry is changing dramatically and fast,” Jarrod said. “Advisors and clients expect better access, faster answers and a more seamless experience. We have to keep building around that.”

To meet those expectations, Magellan has added capabilities and departments that did not exist a decade ago. Although the company was already planning for expansion, Jarrod says partnerships with JEDO and GO Topeka helped accelerate the timeline.

“They care about Topeka, and we felt that throughout the process,” Jarrod said. “They helped us think bigger, move faster and bring this next phase of growth into focus.”

The project will unfold over several years, creating opportunities for new employees and additional investment in the community.

INVESTING IN HOME

Jarrod says the expansion’s impact extends beyond job creation and economic activity.

“When a company grows, I think it has a choice. It can either take from a community, or it can invest into that community,” Jarrod said. “We’re not moving into the community here, we’re just investing more into the community that we’re already a part of.”

While Jarrod is careful not to predict exactly what Magellan will look like five or 10 years from now, he says the company’s commitment remains clear.

“We’ve been here for more than 20 years, and in a lot of ways, we feel like we’re just getting started,” Jarrod said. “This expansion says we believe in Topeka, we believe in our people and we’re committed to our standard: More. Better. Different.”