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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)
      avatar

      Mark Steffe

      92% approve of CEO

      88% positive business outlook

      Ratings by category

      4.6

      Culture & values

      4.6

      Diversity & inclusion

      4.3

      Work/Life balance

      4.3

      Senior management

      4.3

      Career opportunities

      4.1

      Compensation and benefits

      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).

      Ratings by demographic groups

      Reviews by job title

      574 reviews
      1.0
      Sep 20, 2010

      Disingenuous Company Incompetent Senior Leadership

      Former longterm employee
      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      The campus is very nice although most employee perks/benefits have been rescinded.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.

      2.0
      Jun 3, 2021

      Great coworkers and disappointing management

      Marketing operations
      Recommend
      CEO approval
      Business Outlook

      Pros

      Great coworkers Retirement benefits (ESOP) Reaction to the pandemic with employees working remotely

      Cons

      Departmental management (Marketing, specifically) Leadership development Constantly changing priorities Not staffed appropriately (more people who generate work than people to do the work) Work/life balance

      avatar
      First Command Financial Services Response
      5y
      Thank you for sharing your perspective with us. As an employee-owned company, we are committed to creating and sustaining a culture that inspires our employees and makes them feel appreciated. Encouraging feedback and constructive criticism from our employee owners is part of that commitment. We invite employees to discuss business-related problems with their supervisors or with any members of management. That open door policy is highly valued by our workforce. In our most recent employee experience survey, more than 90 percent of employees said they have confidence in the leadership of this organization and believe leaders care about their employees’ well-being. Specifically, the employees in the Client Experience and Marketing department gave the highest average scores in the company. First Command has been named one of the Best Companies to Work for in Texas by Texas Monthly, the Texas Association of Business, Texas Society for Human Resource Management and Best Companies Group. This recognition was based in large part on results of an employee survey. In that survey roughly nine out of 10 First Command employees said they would recommend working here to a friend. In addition to surveys, we rely on the results of reviews on Glassdoor and other sites to gain critical insights. We will be sure to make our leadership aware of your post so we can continue to improve.
      1.0
      Jun 14, 2019

      Dont do it unless you have no other choice.

      Financial advisor
      Recommend
      CEO approval
      Business Outlook

      Pros

      You have the ability to work with deserving clients. Great for gaining experience.

      Cons

      To start with First command holds its self out to pay "you" the advisor the most commission possible. Now that I have worked at another firm and have several friends at other top firms in the industry I have discovered that their pay out multiples are the same in some cases and lower in most cases. The kicker to this is that on top of paying you a lower or average rate for the work you do virtually all other firms cover you technology, office, travel, benefits and education costs. This shows a huge flaw in the payment system alone. While the First Command Leadership promotes a narrative of empowering families their commission packages, sales competitions and leadership are all geared to selling the highest commission product to clients. The only way to survive in this company is to continually sell insurance products. This model creates a glaring conflict of interest and when it is address you are told "its just the way it is" In my experience District advisors where either absent or only mildly interested when trying to create a sustainable practice. I was even told I was take bread off of my DA's table after he swept the majority of clients out of my office and into his book so he could get paid more. Despite have a strong base of clients in the area First command leadership chose to actively not service existing clients and instead promote only new accounts. The scars of this practice where evident when I met with several legacy clients who had been passed from advisor to advisor with little to no notification, service or real planning. After talking with several other current and training advisors at other firms I discovered First command actually has the shortest training and mentorship period in the industry. where most firms will pay you while you get licensed first command has you do this on your own time. The difference is dramatic when you consider the 6 months you have to "go independent" vs. the 1-5 years most firms use to teach you how to build a sustainable practice. The culture is very used car sales in fact I even I was even pitched life insurance in my interview. so choose wisely when considering this a career option.

      avatar
      First Command Financial Services Response
      7y
      Thank you for your commitment and service to First Command clients and your willingness to share your perspective in a public forum. We appreciate that you have noted the ability to work with deserving clients as a positive element of serving at First Command. Our most successful Advisors tell us that one of the most compelling elements of this career is the opportunity to serve military families in a meaningful way. Four out of five First Command Financial Advisors come from the ranks of veterans and military spouses. For these Advisors, the career is about serving those who serve. It is about staying connected to the military community in a way that adds value to the lives of service members and their families by helping them pursue their financial objectives and goals. We must respectfully reject other claims in this posting. We are confident in the value of the opportunities we extend to those who wish to build a career at First Command. We offer competitive compensation. We provide comprehensive training and support. New Advisors go through an extensive training program designed to equip them to succeed as independent contractors. Advisors learn how to build and grow their own business, serve new clients, and provide quality, face-to-face coaching. We are at all times honest and transparent in our dealings with Advisors. We provide our Financial Advisors with the opportunity to realize financial success. However, we have found that those who are primarily motivated to sell products do not typically enjoy long-term success. Because in all of our dealings we put our clients first. First Command Financial Advisors focus on coaching clients to become financially disciplined and confident in their pursuit of financial security. We train them to address the spectrum of financial issues that clients face. Our focus is on risk management (insurance), cash management (banking) and investments to achieve long-term goals including retirement. We are committed to a client-first culture that reflects the highest ethical standards and best practices of the financial services industry. Again, thank you for taking the time to share your perspective.
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      ReviewsFirst Command Financial Services 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.