retirement planning

First Command Financial Advisor Salary

By Lisa Copely 26 July, 2023 2 mins read

Salary for a First Command financial advisor will differ depending on the company and department. Your experience and location will also affect your compensation package. The minimum guaranteed salary for financial advisors in first command is $60,000 annually. First Command offers a variety of benefits.

Minimum guaranteed income for the first command of financial advisor

First Command Financial Advisors are guaranteed a minimum income of $91,585. The average annual salary for this position is $36% less than the national average. First Command pays its Financial Advisors two ways. They get a salary for the first eight months, and then a commission. Based on 44 data points taken from previous job advertisements on Indeed, the salary for a First Command Financial Advisor was calculated. This information is only an estimate and should be confirmed with the employer prior to applying.

First Command is an investment management company that offers financial planning services and financial planning to military families. First Command has over 170 offices across the globe and manages billions dollars worth of client assets. Advisors are able to give financial advice, coach clients on financial behavior, and build relationships with them.

Compensation depends on department or organizational function

First Command's Financial Advisor program draws from decades of experience in helping military families. It addresses the unique needs of military families, and focuses on helping them reach their financial goals. Financial advisors are an integral component of the First Command team and support the Second Careers for veterans and military families.

First Command Financial Services employees are paid a variety of amounts, depending on the role they play and their department. The engineering and IT departments have the highest salaries, earning up to $103,329 annually. The lowest-paying positions are in the customer service and administrative departments.

Compensation depends on experience

First Command financial advisors will earn a salary based on their experience and the services they provide. Your clients are young lieutenants in the armed forces, and your compensation will reflect this. You'll be compensated well, and you'll have the ability to influence their financial futures.

First Command Financial Advisors earn a median salary of $91,585. The median salary for First Command Financial Advisors is $91,585. Assuming you pay federal taxes at a rate of 24%, this would translate to take-home pay of $80823 per year. This amounts to $3368 per paycheck.

Compensation depends on the location

First Command, a financial consulting firm that helps military personnel and their families reach financial goals, is known as a financial consultancy company. The company is located near Woodbridge in Virginia. This allows financial advisors to get involved with the military and run their own businesses. This company is well-paid and offers a comfortable living standard. Advisors are compensated based on how hard they work.

First Command's financial planners earn salaries up to $160,000. However, the majority of employees are paid between $45,000 - $110,000 each year. The highest earners can make up to $140,000. ZipRecruiter estimates that the average First Command financial advisor compensation can vary up to $65,000 depending on their location and experience.

FAQ

What is estate planning?

Estate planning involves creating an estate strategy that will prepare for the death of your loved ones. It includes documents such as wills. Trusts. Powers of attorney. Health care directives. These documents are necessary to protect your assets and ensure you can continue to manage them after you die.

Is it worth employing a wealth management company?

A wealth management service will help you make smarter decisions about where to invest your money. You should also be able to get advice on which types of investments would work best for you. This will give you all the information that you need to make an educated decision.

There are many factors you need to consider before hiring a wealth manger. Consider whether you can trust the person or company that is offering this service. Will they be able to act quickly when things go wrong? Can they easily explain their actions in plain English

What are the best strategies to build wealth?

The most important thing you need to do is to create an environment where you have everything you need to succeed. It's not a good idea to be forced to find the money. If you're not careful you'll end up spending all your time looking for money, instead of building wealth.

It is also important to avoid going into debt. Although it can be tempting to borrow cash, it is important to pay off what you owe promptly.

You can't afford to live on less than you earn, so you are heading for failure. You will also lose any savings for retirement if you fail.

It is important to have enough money for your daily living expenses before you start saving.

Do I need a retirement plan?

No. All of these services are free. We offer free consultations to show you the possibilities and you can then decide if you want to continue our services.

Who Should Use A Wealth Manager?

Everybody who desires to build wealth must be aware of the risks.

People who are new to investing might not understand the concept of risk. They could lose their investment money if they make poor choices.

The same goes for people who are already wealthy. It's possible for them to feel that they have enough money to last a lifetime. But they might not realize that this isn’t always true. They could lose everything if their actions aren’t taken seriously.

As such, everyone needs to consider their own personal circumstances when deciding whether to use a wealth manager or not.

What is wealth management?

Wealth Management can be described as the management of money for individuals or families. It includes all aspects regarding financial planning, such as investment, insurance tax, estate planning retirement planning and protection, liquidity management, and risk management.

What are some of the different types of investments that can be used to build wealth?

There are many investments available for wealth building. Here are some examples.

Stocks & Bonds
Mutual Funds
Real Estate
Gold
Other Assets

Each of these options has its strengths and weaknesses. Stocks and bonds can be understood and managed easily. However, they can fluctuate in their value over time and require active administration. On the other hand, real estate tends to hold its value better than other assets such as gold and mutual funds.

Finding something that works for your needs is the most important thing. Before you can choose the right type of investment, it is essential to assess your risk tolerance and income needs.

Once you've decided on what type of asset you would like to invest in, you can move forward and talk to a financial planner or wealth manager about choosing the right one for you.

Statistics

As of 2020, it is estimated that the wealth management industry had an AUM of upwards of $112 trillion globally. (investopedia.com)
As previously mentioned, according to a 2017 study, stocks were found to be a highly successful investment, with the rate of return averaging around seven percent. (fortunebuilders.com)
US resident who opens a new IBKR Pro individual or joint account receives a 0.25% rate reduction on margin loans. (nerdwallet.com)
Newer, fully-automated Roboadvisor platforms intended as wealth management tools for ordinary individuals often charge far less than 1% per year of AUM and come with low minimum account balances to get started. (investopedia.com)