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First Command Financial Services

Engaged Employer

First Command Financial Services reviews about "pay"

89% positive business outlook

Reviews by job title

87 reviews
5.0
Sep 5, 2012

Great Company

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Been with the company for over 10 years, Seen a lot of changes, some good, some not so good, but this company has made every effort to include employees in major decisions. They offer employee stock and 401K, pay is comparable to market.

Cons

There are those who might find the company not the best fit for them. Some management changes effected how things are done, which cause some to change jobs. This company goes thru a lot of changes and if you don't like changes, this is not a company for you.

2.0
Feb 27, 2013
Recommend
CEO approval
Business Outlook

Pros

Flexible hours, base pay, good kick off program. You don't have to pay to play.The company is pro military.

Cons

You do not get leads. Any sales you make will be from personal contacts. You are not allowed to sell to anyone with GHI under $40,000 or active duty under E5. Get good at obtaining and meeting with referalls, it is the only way your business will grow. They do not invest much in marketing, other than hiring people with good looking networks. Once your personal well runs dry, you have no leads to turn to. This usually results in the advisor looking for another company to work for within a couple of years.

1.0
Dec 17, 2013
Recommend
CEO approval
Business Outlook

Pros

The company contributes 15 percent of your salary to the ESOP (Employee Stock Ownership) which is yours after you are vested. Not bad

Cons

I really don’t know if the IT management staff wants the department to fail but that is what it appears. Either that is the case or they do not know what they are doing. The department as had a 30 percent turnover rate and for good reason. It is basically unbearable to be there. The pay and health insurance is not all that good.

2.0
Dec 27, 2013
Recommend
CEO approval
Business Outlook

Pros

1- Support for military families and the ability to implement military benefits into comprehensive financial plans. 2- There is a large selection of investment and insurance products for advisors to recommend to clients. 3- Training program for new advisors at the corporate level is very detailed. 4- Monthly income for new advisors - if they can make the gates (minimum required sales).

Cons

1- The company talks about doing what's best for clients, but the compensation system for advisors pressures them to sell whole life insurance. 2- Slow to pay advisors their commissions and fast to take money on charge backs. 3- Very challenging gates for the first year advisor. Investments sold by the first year advisor does not count towards the quarterly gates (only insurance sales). Only one year program for new advisor income before going to 100% commission. 4- Financial planning software is outdated and not user friendly.

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.

1.0
Jan 7, 2013
Recommend
CEO approval
Business Outlook

Pros

It’s a job. You may get lots of free meals and event tickets from vendors that FirstCommand will never buy anything from.

Cons

Extremely antiquated technology and way thinking. Low pay. No opportunity for advancement. No remote work opportunities. No department budgeting for new equipment or to maintain existing equipment. All funds must be a onetime project approval from the CIO and board. A CIO that can barely spell IT much less run a IT shop (a senior citizen - formally from Cash America Pawn). Good old boy network. Every vendor ends up hating you because they encourage taking all free comps and stringing them along for more freebies but never ever buying anything. This company doesn't even believe in trying to succeed. It relies only on word of mouth and referrals for all their business. The CEO has even stated several times that they have no desire to grow the company and the goal is to increase profit at a very small rate. Ask yourself before you think about working here… have you ever heard of FirstCommand financial planning …and that is the way they want to keep it - NO JOKE!

1.0
Feb 11, 2014
Recommend
CEO approval
Business Outlook

Pros

The gym is excellent and the covered parking is a plus. The rank and file employees are generally very friendly.

Cons

Shallow, narcissistic senior management that could not work at similarly sized real financial firms. Very low pay in comparison with peer groups. Recent lay-offs indicate financial instability. Very low new client creation neccessary for growth. Run!

Viewing 25 - 27 of 87 Reviews

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