First Command News & Events

FOR IMMEDIATE RELEASE - May 29, 2013

Relationships And Reputation Fuel Financial Planner Hires By Servicemembers, First Command Reports

First Command Financial Behaviors Index® identifies friends and family as trusted referral sources

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FORT WORTH, Texas — When it comes to choosing a financial planner, servicemembers are seeking guidance from the people and institutions they trust.

Recent survey findings from the First Command Financial Behaviors Index® reveal that half of middle-class military families (senior NCOs and commissioned officers in pay grades E-6 and above with household incomes of at least $50,000) who work with a planner based their hiring decision on relationships and reputation.

The Index reveals that servicemembers rely on:

  • Recommendations by friends (15 percent)
  • General referrals or recommendations (10 percent)
  • Recommendations by family members (10 percent)
  • Reputation of the financial planner (8 percent)
  • Hiring friends or family members who are financial planners (6 percent)

In addition, 16 percent of respondents said they picked their planner by working through a bank or financial institution and 9 percent relied on research.

Regardless of method, the majority of military families appear to be pleased with the choices they’ve made; 83 percent say they trust their own planner.

“Financial planning is a trust-based profession built on human connections and personal relationships,” said Scott Spiker, CEO of First Command Financial Services, Inc. “Servicemembers are looking to put their trust in a financial coach, someone who understands their needs and offers a sense of security and hope as they work to get their financial lives squared away.”

About First Command Financial Behaviors Index®

Compiled by Sentient Decision Science, Inc., the First Command Financial Behaviors Index® assesses trends among the American public’s financial behaviors, attitudes and intentions through a monthly survey of approximately 530 U.S. consumers aged 25 to 70 with annual household incomes of at least $50,000. Results are reported quarterly. The margin of error is +/- 4.3 percent with a 95 percent level of confidence. Financial Behaviors Index

About Sentient Decision Science, Inc.

Sentient Decision Science was commissioned by First Command to compile the Financial Behaviors Index®. SDS is a behavioral science and consumer psychology consulting firm with special vertical expertise within the financial services industry. SDS specializes in advanced research methods and statistical analysis of behavioral and attitudinal data.

About First Command

First Command Financial Services and its subsidiaries, including First Command Bank and First Command Financial Planning, assist American families in their efforts to build wealth, reduce debt and pursue their lifetime financial goals and dreams—focusing on consumer behavior as the first and most powerful determinant of results. Through knowledgeable advice and coaching of the financial behaviors conducive to success, First Command Financial Advisors have built trustworthy, lasting relationships with hundreds of thousands of client families since 1958.

First Command Financial Services, Inc., is the parent of First Command Financial Planning, Inc. (Member SIPC, FINRA), First Command Insurance Services, Inc. and First Command Bank. Financial planning services and investment products, including securities, are offered by First Command Financial Planning, Inc. Insurance products and services are offered by First Command Insurance Services, Inc. in all states except Montana, where as required by law, insurance products and services are offered by First Command Financial Services, Inc. (a separate Montana domestic corporation). Banking products and services are offered by First Command Bank. In certain states, as required by law, First Command Insurance Services, Inc. does business as a separate domestic corporation. Securities products are not FDIC insured, have no bank guarantee and may lose value. A financial plan, by itself, cannot assure that retirement or other financial goals will be met.

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