A Legacy of Wise Planning

By Jen Leclair
Photos by John Burns

What began with a simple question about how clients should be cared for has grown into a family business focused on helping people make the most of retirement.

When Jeff Vogel started working in financial services 40 years ago, his first two clients were his parents and in-laws, both preparing for retirement. Working with them left him with a question he kept coming back to: If he were the client, how would he want to be treated and cared for?

That question has guided not only how he built his career, but how he and his sons, Jon and Andy, run the firm together.

Jeff began his career with a large New York-based financial institution while living in southwest Kansas. A decade in, he began questioning the traditional model. He wanted to build something different, a business that took the time to truly know the people it worked with.

Thirty years ago, he returned to Topeka and founded what would become RetireWise Tax and Wealth Advisors, an independent retirement planning firm built around five interconnected areas of retirement: income, investments, taxes, health care and legacy planning. The firm is guided by a philosophy it calls the Path of More: more freedom, more confidence and more meaningful experiences.

Today, Jeff and his sons run the firm together.

A PATH, NOT A FIXED PLAN

Clients often arrive at RetireWise asking for a financial plan. Andy Vogel, financial advisor and partner, says the firm intentionally thinks beyond that word.

“A plan is not a fixed document,” Andy said. “Life changes. Goals change. Families change. Circumstances around them change.”

Advisors spend time learning about clients’ concerns and help them envision what an ideal retirement could look like, starting with questions rather than a spreadsheet.

Two people may have similar careers, savings and retirement goals but hold very different values. One may hope to leave wealth to family, while another may prioritize charitable giving. Those differences can influence decisions across every area of a retirement strategy, from investments and taxes to estate planning.

The RetireWise team sees their role as helping clients gain clarity and make informed decisions in partnership with their advisors, rather than making decisions on their behalf.

Clients can leave the day-to-day details to the RetireWise team while staying involved in the bigger decisions. The team believes that the more clients understand their financial plan, the more confident they can feel about their future.

“When clients are educated and have an understanding, fear begins to go away,” Jon said.

BEYOND THE BALANCE SHEET

“When was the last time your CPA, attorney, insurance professional and investment advisor were all in the same room discussing your financial life?” Jon often asks prospective clients. The answer has always been the same: “Never.”

For most families, that is how financial planning works. An investment advisor refers clients to a CPA. The CPA recommends talking with an attorney. The attorney has a different perspective. Each professional may be highly skilled, but they typically work independently, each bringing their own priorities, processes and philosophies. The responsibility of connecting those recommendations and deciding which advice to follow often falls on the client.

Closing that gap is the whole idea behind RetireWise, the Vogels say. The firm’s integrated approach considers how decisions in one area can affect every other part of a client’s financial life. A decision about where to withdraw money, for example, may have implications for taxes, Medicare premiums, investments and estate planning.

“If you tug on one piece, it’s like a spider web,” Jon said. “It’s going to pull on everything.”

The firm’s team structure underpins that approach. Rather than operating as individual advisors with separate books of business, the team shares responsibility for serving clients across every area of the practice. RetireWise emphasizes diligence, gratitude, trust, integrity, and, above all, a team-first approach.

“Team is one of our core values,” Andy said. “We want that to be an identifying factor of who we are.”

THE MILLIONAIRES NEXT DOOR

RetireWise primarily serves people who are approaching retirement or have recently retired, individuals who have worked hard, saved diligently and achieved a level of financial success but may still feel uncertain about what is possible.

Many are what Andy describes as “the unknown millionaire next door.”

“They are very kind people,” he said. “They’ve worked hard. For many, they are the 25-year overnight success story.”

After decades of saving, some clients struggle to shift from accumulating wealth to using it. They may wonder whether they can retire, take a family vacation with all their children and grandchildren, purchase a second home or help their children and grandchildren while enjoying the lifestyle they imagined and preserving their own long-term security.

One client in particular had spent years carefully managing his investments, reviewing spreadsheets and researching his holdings nearly every Friday morning. He trusted his advisor but felt that something was missing.

The Vogels say that through the RetireWise process, he gained a clearer understanding of his entire financial picture and the support of an integrated team. Over time, he became comfortable delegating the responsibilities he had previously carried alone.“It was a complete life change for him,” Jon said.

COMPOUND INTEREST

Legacy has always been important to Jeff. When he left the large financial institution where he began his career, one of his motivations was the desire to build something that could be passed forward. He hoped that one of his three sons might someday choose to join the business. Two did.

Jon joined RetireWise after spending time in ministry and helping establish the Young Life program at Washburn University. Andy spent two decades working with Young Life before entering the financial services profession. Their backgrounds continue to influence how they approach their work. Both view their roles as financial advisors as a form of stewardship, an opportunity to serve people, build meaningful relationships and help clients navigate a major life transition.

“Success for us is that we’re living out our purpose,” Andy said.

Today, the family legacy is visible not only in the firm’s ownership but also in its culture. Jeff has watched his sons embrace and build on the approach that led him to start the company.

As Jon and Andy described the organization’s values, approach and future, Jeff listened quietly.

Then he smiled and said, “That’s legacy.”