January 21, 2017 9:28 AM ET

Capital Markets

Company Overview of First Command Financial Services, Inc.

Company Overview

First Command Financial Services, Inc. provides financial planning services for American military families. The company develops and delivers financial plans and solutions to assist American families in their efforts to reduce debt, build savings, and pursue their financial goals. It provides investments services in the areas of retirement, education, income, and asset management; securities and brokerage services; property/casualty, life, disability income, long-term care, and small business insurance solutions; personal and commercial banking products; and tax services. The company serves American military families, service-members, and federal employees. First Command Financial Services, ...

1 FirstComm Plaza

Fort Worth, TX 76109-4999

United States

Founded in 1958

Phone:

817-731-8621

Fax:

817-738-1023

Key Executives for First Command Financial Services, Inc.

Chief Executive Officer and Director
Age: 60
Chief Financial Officer and Executive Vice President of Financial & Administrative Services
Chief Executive Officer of First Command Bank and President of First Command Bank
Executive Vice President, General Counsel and Secretary
Age: 56
Head of New York Office
Compensation as of Fiscal Year 2016.

First Command Financial Services, Inc. Key Developments

First Command Financial Services, Inc. Launches Analyzer Tool for Military Families Considering New Retirement System

First Command Financial Services, Inc. is rolling out a new planning tool designed to help current active-duty families decide between opting in to the new, blended retirement plan and sticking with their traditional pension. Called The New Military Retirement Analyzer, this proprietary tool is designed for First Command Financial Advisors to show career service members how anticipated benefits under the new system compare to the current pension program. The analysis is intended to give military members unique insights into their own family finances so they can make informed decisions about their retirement planning. The new system, which goes into effect on January 1, 2018, calls for a 20% reduction in current retirement pay in exchange for a defined contribution program of automatic and matching Thrift Savings Plan contributions, a mid-career continuation pay bonus and options to receive a portion of retirement pay as a lump sum. Proponents say the new structure will offer greater financial flexibility and pave the way for a higher percentage of service members to leave the military with at least some retirement savings. But among current service members, the argument in favor of lifetime financial security is making the traditional pension the preferred option.

First Command Financial Services, Inc. Announces Advisory Board Changes

First Command Financial Services, Inc. announced the appointment of two retired senior military leaders to serve on the First Command Military Advisory Board. Fleet Master Chief Petty Officer Charles Chuck Clarke joins the Board after serving more than 29 years in the U.S. Navy, culminating in his assignment as the 17th Fleet Master Chief for the United States Fleet Forces Command. When he retired in April 2016, he was one of the top five enlisted Sailors in the service.

First Command Financial Services Announces Affinity Partnership with Association of the United States Army

First Command Financial Services has announced that it has entered into affinity partnership with the Association of the United States Army (AUSA), offering members of the non-profit organisation a suite of banking products and services designed to meet the unique needs of America's career military. As AUSA's exclusive financial services affiliate, First Command is offering a branded Platinum Visa and other products and services through its First Command Bank subsidiary. The new offerings were unveiled during the 2015 AUSA Annual Meeting & Exposition at the Walter E. Washington Convention Center in Washington, D.C. In addition to the AUSA-branded credit card, First Command Bank offers AUSA members financial products, such as current accounts, money market savings accounts and certificates of deposit.

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