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First Command Financial Services

Engaged Employer

First Command Financial Services reviews

4.4

87% would recommend to a friend

(574 total reviews)
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Mark Steffe

92% approve of CEO

88% positive business outlook

First Command Financial Services has an employee rating of 4.4 out of 5 stars, based on 574 company reviews on Glassdoor which indicates that most employees have an excellent working experience there. The First Command Financial Services employee rating is 22% above average for employers within the Financial Services industry (3.6 stars).

Reviews by job title

574 reviews
1.0
Mar 28, 2015

Over priced for lack luster service

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

They buy a lot of lunches for their employees is the only good thing about this company

Cons

Company lost its way after losing the law suit in 2004. The advisors are pushed to up sell investments that under perform the market to Service members. Advisors are encouraged to sell the funds that have the highest commissions for the sales rep regardless of the funds performance

4.0
Jan 23, 2015
Recommend
CEO approval
Business Outlook

Pros

Flexible schedule: you own your time and are accountable to yourself and your business plan. Solid compensation structure: The compensation is set up in such a way that more is shared with the top advisors in a deferred compensation plan which is extremely competitive. When you factor in this compensation stream, the overall compensation far exceeds the industry standard. Of course, if you are not a top producer you might hold a grudge about this. Values based company: Does it's best to uphold a fiduciary standard. Definitely not perfect in this, but the company is striving to get better and better. This Includes having all plans reviewed by Home Office principles to try to keep recommendations following the companies values proposition

Cons

Advisors are independent contractors. The company offers a lot of training on financial planning and sales, but almost no training on running a business. Many advisors fail simply because they were not equipped to properly run a business. Little name recognition: company was stuck in the dark ages of just word of mouth for too long and has little presence in most modern marketing outlets. Company inbred for too long. By taking an isolationism view to outside hires the company fostered a way of thinking that was slow to change and did not take into account industry changes.

2.0
Nov 4, 2014
Recommend
CEO approval
Business Outlook

Pros

Paid time off starts accruing immediately, which is a bonus over some places. They offer leadership training, but several managers will not allow their employees to participate. They have great programs like OZ and CASTLE but instead of having the professionals teach the courses, they have internal HR employees do it. You go to multiple full day courses, but each one is exactly like the previous, redundant. They possess tons of technology! Unfortunately they don't have the skills or the "formula for change" so they are not utilizing anything to the best of it's intended purpose.Office culture is pretty laid back, so going to work daily is not too stressful. Annual raises - don't get your hopes up too high, doesn't cover cost of living increase. First Command wants a feedback culture, meaning they intend to support an environment that allows open and honest feedback. This is good for employee growth, if used properly.

Cons

While they have several classes and opportunities for growth, as well as tuition reimbursement, most of the management discourages use of these, or in many cases, denies an employees ability to utilize these resources. Money is spent as if it were growing on trees for technology, supplies, training. After they do all of the spending, there is absolutely no follow through. Millions of dollars with nothing to show for it, nothing purchased is fully implemented afterwards someone will just purchase something else to do what they want. First Command has a "Family focus" but this is just in talking. When there is a situation or emergency, there is NO SUPPORT. Sending flowers does not make you family oriented. I have seen several women go through miscarriages, in each case the woman is expected at work until the time of their surgery, and then expected in the day following the "Procedure" as they call it in Human Resources. Donation of PTO is not allowed when serious circumstances should permit. It is against company policy. First Command has the biggest Business Information Services department (IT) I have ever seen in a not IT company. The turnover rate in BIS is worse than any IT department I have ever seen. Even senior management changes regularly. Positions are so hard to fill, that HR is offering double incentives if you can get someone in to be hired. All positions pay fair, but raises are below 3%. Feedback is a joke. Feedback is given to employees but never to management. Some managers severely lack in people skills, other managers feel that you cannot speak to them unless you are at their level or above. While it is well known that the management style of these people is unacceptable and causes turnover, it is ignored. If you have worked there more than a couple years, you are the way you are and people have to deal with it. If you are new, you must take whatever is given to you. In order to be promoted, you need an MBA, even if your bosses do not have more than a Bachelor's degree.

Viewing 37 - 39 of 574 Reviews

Glassdoor has 631 First Command Financial Services reviews submitted anonymously by First Command Financial Services employees. Read employee reviews and ratings on Glassdoor to decide if First Command Financial Services is right for you.