What is the consensus on First Command Financial Services?

I'm sure someone could have a successful career working with them, and you may very well enjoy the experience. They just weren't for me, either as an investor client or as a prospective employment organization. Their business model appears to rely on a steady stream of new or unsophisticated investor clients who are willing to stay within their limited investment options. Additionally, they seem to draw risk averse clients who are drawn to insurance products as means to hedge their risk. I suppose that does add value to the military and veteran community, although I think it could be much better.

I can primarily speak from the investor perspective. I found their investment products rather limited, and the advice I was given by their advisors wasn't sound financial advice. They never assessed my level of risk aversion, and they always tried to steer me into whatever products they sold (which consisted primarily of actively managed mutual funds and insurance products). Any time I asked questions about products outside of what they offer, the financial advisors couldn't engage very deeply. It was like they only knew what First Command had, but little else. I also didn't like their fee structure where my return and their compensation were not aligned.

From an outsider perspective (potential employee), I did go to one recruitment session to try to learn more about them and to meet other prospective advisors. I was surprised that very few of them had any formal education in the field of finance and/or any experience in financial planning. First Command trained them on everything necessary to sell their limited portfolio of products. Unless things have changed (this was about 12 years ago), they also operated on a business model where you are mostly an independent financial advisor working on commission, yet you rent their name and office space to give you the legitimacy of the larger enterprise.

Just my $0.02.

Full agreement with LTC Kevin B.. They are legit but mediocre for financial investing. Working for them is more like being in sales rather than actual advising.

They are also not personable. I demanded the end of my whole life insurance policy...but still got a recruitment email from them despite me leaving a bad taste in their mouth.