First Command Financial Services Advisor Reviews

Updated Jun 26, 2020

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3.7
57%
Recommend to a Friend
100%
Approve of CEO
First Command Financial Services CEO Mark Steffe
Mark Steffe
1 Rating
  1. "Not how it seems"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Financial Advisor in Mount Laurel, NJ
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I worked at First Command Financial Services full-time for less than a year

    Pros

    Working with military personnel and families

    Cons

    Very political and there was very little help. This is a SALES job. IF you do not have a list of friends and family, or have the opportunity to take over someone book of business this is job is very tough. You generate your own leads. If you are unable to you may end up paying the company to work there, rather then them pay you. Once you become on independent contractor, you have to pay for the office space you use, the marketing you do, the office manager that files paperwork. That money comes out of your commissions. So be prepared.

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    First Command Financial Services Response

    June 29, 2020Marketing Campaign Manager

    Thank you for taking the time to share your experiences. Your observation aligns with the feedback we get from our most successful Advisors. They tell us that one of the most compelling elements of this career is the opportunity to serve military personnel and their 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. As you note, our Advisors are working in a sales career. They do face some challenges, but they also enjoy many opportunities. As independent contractors, they have scheduling flexibility and unlimited earning potential. We seek individuals with internal drive, entrepreneurial mindsets and a desire for professional growth. We provide new Advisors with 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 financial coaching. They learn how to coach our clients to become financially disciplined and confident in their pursuit of financial security by addressing the spectrum of financial issues they face. We always put our clients first. We are committed to a 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 experiences.

  2. Helpful (1)

    "Work here"

    5.0
    Current Employee - Financial Advisor in Evans, GA

    I have been working at First Command Financial Services full-time

    Pros

    Very Flexible and the company has a great culture.

    Cons

    If you don't come from a military background you may struggle a little but you will still be able to make it.

  3. Helpful (3)

    "Good Starting Place"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Advisor Trainee in Biloxi, MS
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at First Command Financial Services full-time for less than a year

    Pros

    First Command is a great firm to obtain your Securities licenses. They pay for all the exams. Base salry of 4k for 6months

    Cons

    Limited Market to work with

  4. "Be wary"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Contractor - Financial Advisor 
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I have been working at First Command Financial Services for more than 10 years

    Pros

    The leading financial advisory firm focused on our military and their unique financial needs Fantastic daily work environment Local supervisor are beyond compare

    Cons

    Public facing persona of the company from the corporate level is not the same as shown to the sales force All advisors; regardless of tenure, skills, accreditation and experience, are held to the same sales matrix. A new advisor and one with 20+ years experience are graded against the same sales schedule. Senior leadership has no personal, first hand experience as an advisor with the company Most senior leaders have no experience with the military and their financial needs The field sales force is routinely ignored and marginalized by senior leadership

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    First Command Financial Services Response

    December 23, 2019Marketing Campaign Manager

    Thank you for taking the time to share your views with us. I'm sorry to hear about your negative experience. I want to stress that many members of our senior leadership team have been with the company for many years and understand the challenges and opportunities associated with military service. They understand the intricacies of this career. Most importantly, all of us at First Command are committed to meeting the needs of our clients. We teach Advisors to coach our clients to become financially disciplined and confident in their pursuit of financial security. We recognize that the best way to build and sustain a client-first culture is to establish consistency throughout our organization. I will share your comments with leadership so we can continue to bring positive change to First Command.

  5. Helpful (1)

    "Constant Change; Hope you like whole life - better sell a lot of it."

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Advisor 
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I have been working at First Command Financial Services full-time

    Pros

    Flexibility of schedule, unlimited earning potential, good people.

    Cons

    You're on the hook - pay for your office space, pay for your assistant, pay the home office each month for their "help", pay to go to regional training if you want to or not. Severely lacking in digital. Out of touch from a product perspective. If you don't have a second source of income, good luck making it.

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    First Command Financial Services Response

    December 3, 2019Marketing Campaign Manager

    Thank you for taking the time to share your experiences. We appreciate that you have noted some of the key advantages of pursuing a career as a First Command Financial Advisor, including the opportunity to work with good people. Your observation aligns with the feedback we get from our most successful Advisors. They 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.As you note, our Advisors have flexibility of schedule and unlimited earning potential. That's because they are independent contractors. We seek individuals with internal drive, entrepreneurial mindsets and a desire for professional growth. We provide new Advisors with 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 financial coaching. We have found that those who are primarily motivated to sell products do not typically enjoy long-term success. We do not focus on the sale of whole life insurance (or any specific type of financial product). Rather, we coach our clients to become financially disciplined and confident in their pursuit of financial security by addressing the spectrum of financial issues they face. We always put our clients first. We are committed to a 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 experiences.

  6. "Great Company"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Contractor - Financial Advisor in Manassas, VA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at First Command Financial Services for more than 5 years

    Pros

    FC enables FA's to build a successful practice through an extensive amount of resources and training.

    Cons

    Local growth within the company is difficult - must be willing to relocate for most promotions.

  7. Helpful (8)

    "This Is My Family"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Advisor 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at First Command Financial Services full-time for more than 5 years

    Pros

    I feel so proud knowing that what I do everyday makes a difference in others lives. The training has improved every year that I've been here and I never get tired of receiving hand written appreciation cards from some of the top executives.

    Cons

    More digital improvements are needed.

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  8. Helpful (4)

    "A select few"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Financial Advisor 

    I worked at First Command Financial Services full-time for more than a year

    Pros

    Offers a degree of autonomy to grow your business. Provides training and some resources to promote your success and growth.

    Cons

    In order to be successful you have to eat and breathe the process, so much so that you can occasionally feel like a desperate used car salesman. Thats probably just me. But I didn’t believe in pressuring people to pursue a wise plan once I expressed the sound reason and future outlook of following it. Often people would rather wallow in their present state just to avoid doing the hard but best thing for them.

  9. Helpful (3)

    "Great fit for those who love military famiies"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Advisor in San Antonio, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at First Command Financial Services full-time for more than 10 years

    Pros

    Makes you feel great knowing that you are making such a difference in the lives of military families. Helping clients understand the fundamentals of financial success and developing a path for all to achieve their goals and securing their families against the inevitable loss of government benefits. The great feeling you get when someone takes actions that are life changing!

    Cons

    The constant debate with the well intentioned , squadron/battalion expert, misinformed strong opinions that don't have to live with the tragic results of their misguided advice. When you have something so great to share and you get resistance because most people are living for today or don't understand the magnitude that poor financial behaviors can have long term. Since we are fiduciaries acting in the best interest of our clients, we have a lot of work to do gathering all the financial information before we can give advice. This can be frustrating because most don't want to go through the process of gathering the info we need or understand how important even the smallest detail can be for us to create more wealth in retirement. Other organizations tend to get rated higher on client experience because they define great service speed of transactions not how thorough a job did you do and how big a difference you make over a 30 - 40 year relationship.

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  10. Helpful (4)

    "Dont do it unless you have no other choice."

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Financial Advisor 
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I worked at First Command Financial Services full-time for more than 3 years

    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.

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    First Command Financial Services Response

    June 18, 2019VP, COMMUNICATIONS

    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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