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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
Sep 20, 2010
Recommend
CEO approval
Business Outlook

Pros

The campus is very nice although most employee perks/benefits have been rescinded. Company has a concierge located in the parking garage that hosts area vendors. Parking garage provided, but frequent accidents occur due its parking design that seeks to maximize capacity rather than clearance.

Cons

This company has lost its way after the SEC sanctions against its former core product: the contractual mutual fund. It replaced longtime CEO Lamar Smith with Scott Spiker who has a sub-par, transient history as an executive. As USAA, its principle competitor posts record profits, returns continue to falter and are only maintained at those levels by costs savings from layoffs. Insurance sales are in nosedive decline. One single product, the proprietary managed account, is doing well albeit because the company is moving the money formerly held in the contractual accounts into those type accounts. A case for churning could easily be made and a class action is certain to follow. Most quality employees are migrating elsewhere.

1.0
Aug 25, 2010
Recommend
CEO approval
Business Outlook

Pros

The parking garage and the work out center are great features. They keep the building in fine shape. Most of the employees truly care for each other.

Cons

Lack of communication between departments. Hold themselves out as planners but are really just selling products, and the product inventory is very limited. They love the commission heavy whole life policies and depend on the revenue streams from those policies to keep the back office afloat. They were fined $12 million dollars for the way that they did business and the senior leaders are dragging the field force back to those scripts and conversations that lead to the fines. Most advisors are just sales people dressed up as planners.

4.0
Aug 9, 2010

First Command Financial Planning

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

The vision and mission statement of the company are followed without fail. The company is growing and trying to adapt to an open market after dominating the closed military market for more than 45 yrs. Though the company is in a state of growth and change, it's still supportive and most worthwhile. The advisors, particularly, are really in a fabulous situation to mold a career for themselves, on their own terms. This is a fabulous opportunity for a young entrepreneurially-minded career person.

Cons

The downside is that this is a company whose branding isn't highly visible yet. So, there is a bit of a challenge to create the "buzz" already associated with other financial firms. The company is growing and changing, and one who is not able to be highly flexible will not like this career. Also, being in a support role and not in the corporate employ is very limiting. Working for an individual advisor is a challenge, as the financial and career growth opportunities are limited.

Viewing 568 - 570 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.