OFG Financial Services, Inc.
As a part of the upcoming Financial Service Summit, GO Topeka would like to spotlight some of the financial service organizations headquartered in Topeka & Shawnee County. We begin with OFG Financial Services, Inc.
OFG is a full-service broker/dealer. Its office is located at 120 SE 6th Ave # 105, in the heart of Downtown Topeka. The company has 12 employees at the Topeka office and 80 independent brokers licensed in 20 different states. OFG offers a variety of services in areas such as mutual funds, variable annuities and employee benefits programs. However, the company specializes in retirement and investment planning.
A Timeline of the Company’s History
OFG Financial Services began as Columbian Securities in Topeka, KS. It primarily functioned as a major bond house.
In addition to bonds, Columbian Securities started offering mutual funds through its mutual fund department.
KSTA (formerly Kansas State Teachers Assoc.) endorsed Security Benefit and Columbian Securities to be the plan provider of 403(b) retirement plans for school districts. They were also selected to educate school employees on financial literacy. This set-in motion the close relationship with both Security Benefit and Kansas schools.
Ken Ogdon, president/owner, left his position as an elementary school principal in Wichita to head up the 403(b) department for Columbian Securities.
Leading the way in his field, Ogdon purchased the retail side (stock/insurance/mutual funds) of Columbian Securities.
The company changed its name to Ogdon Financial Group on Apr. 1, 1992. It would later become OFG Financial Services, Inc.
Interesting Company Facts:
- OFG primarily works with schools, both public and private, secondary and post-secondary, in various states, including Kansas, to provide employees with 403(b) plans and Section 125 plans also called “Cafeteria” employee benefits plan (this plan covers life insurance, health insurance, disability coverage, etc.).
- OFG is Security Benefit’s only partner authorized to sell Security Benefit 403(b) products in Kansas schools.
- At nearly a century old, the organization has been touted as “the oldest bond house west of the Mississippi River”.
- OFG, in partnership with Security Benefit, helped institute employer matching funds for 403(b) plans in public education institutions.
- The company brings economic activity into the area with 1/3 of its revenue being generated from outside the state of Kansas.