Sometimes the best lessons are learned in the worst cases.
Virtually all major financial institutions have faced lawsuits. At First Command, we focus on avoiding litigation by always putting our client’s interests ahead of our own. First Command takes pride in our reputation, ethics and putting our clients first. When we receive a client complaint, we take it seriously. We treat every complaint as an opportunity for self-improvement. We use what we learn to make continuous improvements to every part of our business, from our relationship to our Advisors to the financial products we offer. Today we have a client-first culture we’ll put up against anybody.
How we work with our Advisors
First Command helps our Advisors build their own businesses, providing tools and support to guide them through the financial licensing process. That independence means we have unique relationships with each one of our Advisors, and like all relationships, that means doing the work to make it a good one.
Over the years we’ve gone to great lengths to embrace the best practices of the financial planning industry. In 2005, we required every Advisor to become an Investment Advisor Representative, which means acting as a fiduciary in the best interests of clients.
First Command has also encouraged Advisors to pursue advanced credentials. As a result, we have more than 100 Advisors with the Certified Financial Planner1 designation and many with other credentials, including the Chartered Financial Consultant (ChFC) designation and industry-specific qualifications such as the Chartered Life Underwriter (CLU) designation. Along with our internal education and a commitment to industry best practices, our Advisors are better prepared than ever.
First Command Financial Advisors:
- Put our clients’ best interests first
- Act with due care and in utmost good faith
- Do not mislead clients
- Provide full and fair disclosure of all material facts and
- Disclose and mitigate all material conflicts of interest
We’re proud of the work we’ve done in developing our relationship with each Advisor and the relationships our Advisors build with clients.
How we work with our clients
We focus on providing proactive service in flexible and convenient ways that best meet the specialized needs of our clients as they evolve. We offer a broad range of products and services to meet every client’s unique needs. With no minimum net worth to work with an Advisor, we want financial services to be accessible from the start of your military career to retirement and beyond.
We’ve also developed new systems to serve clients, like Your Credit Score, which lets clients track their credit score, and a full-featured app on iOS and Android. From asset management to retirement planning, we’re constantly looking for ways to make it easier for our clients to manage their financial futures.
How we ensure compliance
First Command has a compliance and legal staff of more than two dozen people. Our approach to a First Command lawsuit is to ensure that it never happens in the first place.
Every challenge is an opportunity to grow successfully, and our results show that we’ve done just that. In over 170 offices around the world, more than 280,000 families are served by dedicated Advisors—four out of five of whom are veterans or military spouses. We even hold an A+ rating with the Better Business Bureau.
Whether it’s imagining your financial future or building on the success of a business that’s been growing since 1958, there’s always more to learn. We’ll never stop working to earn your trust.
To learn more about how our experienced Advisors can help you build a comprehensive financial plan (and help First Command avoid anything as surprising as reading "First Command class action lawsuit"), visit: https://www.firstcommand.com/about-us/making-a-difference/