First Command Advisory Services: AUM & Ownership

Clients

First Command Advisory Services serves 113,591 clients, 109,659 of them other individuals. The average client has about $215,000 with the firm, and high-net-worth clients hold 17% of its $24.4 billion in assets.

Regulatory assets by client type

Individuals109,659 clients82%
High-net-worth individuals3,852 clients17%
OtherPension and profit-sharing plans, Charitable organizations, Corporations and other businesses0%

Show client breakdown

Client type	Clients	Regulatory AUM	Share	Avg. per client
Individuals (other than HNW)	109,659	$20,103,217,066	82.3%	$183K
High-net-worth individuals	3,852	$4,267,303,753	17.5%	$1.11M
Pension and profit-sharing plans	4	$2,918,522	0.0%	$730K
Charitable organizations	27	$5,188,265	0.0%	$192K
Corporations and other businesses	49	$50,790,549	0.2%	$1.04M
Total	113,591	$24,429,418,155	100%	$215K

Individuals (other than HNW)

Clients: 109,659
Regulatory AUM: $20,103,217,066
Share: 82.3%
Avg. per client: $183K

High-net-worth individuals

Clients: 3,852
Regulatory AUM: $4,267,303,753
Share: 17.5%
Avg. per client: $1.11M

Pension and profit-sharing plans

Clients: 4
Regulatory AUM: $2,918,522
Share: 0.0%
Avg. per client: $730K

Charitable organizations

Clients: 27
Regulatory AUM: $5,188,265
Share: 0.0%
Avg. per client: $192K

Corporations and other businesses

Clients: 49
Regulatory AUM: $50,790,549
Share: 0.2%
Avg. per client: $1.04M

Total

Clients: 113,591
Regulatory AUM: $24,429,418,155
Share: 100%
Avg. per client: $215K

What it does

First Command Advisory Services provides financial planning and portfolio management for individuals and small businesses. It is paid through a percentage of assets and fixed fees.

First Command Advisory Services provided financial planning to 35,500 clients last fiscal year and advises no private funds.

100.0% of assets ($24.43B across 113,591 accounts) are managed with discretion. $24.38B sits in a wrap fee program the firm both sponsors and manages. 0% of clients are outside the U.S., and 1,013 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

Stocks48%
Funds50%
Cash2%

Custodians

First Command Advisory Services has custody of $21.08B for 69,312 clients.

Managed account assets by custodian

All other custodians$24.43B100%

Ownership and leadership

First Command Financial owns 75% or more of First Command Advisory Services.

Who owns the firm

First Command Advisory Services· the adviser

First Command Financial
Control person · since December 2000
Owns 75% or more of First Command Advisory Services
First Command Financial Services, Inc.
Control person · since December 2000
Owns 75% or more of First Command Advisory Services

Leadership

Tina Caddell
Vice President, Operations
Heidi Cerbone
Vice President and Treasurer
Eric Chartan
Senior Vice President, Chief Legal Officer
Casey Griffin
Senior Vice President, Chief Compliance Officer
Kelleen Richter
Executive Vice President, Chief Operating Officer
Frank Smith
Senior Vice President - Chief Information Security Officer & Chief Technology Officer
Mark Steffe
President and CEO

Staff

1,787 employees
1,155 in advisory functions
1,155 state-registered reps
1,232 broker-dealer reps
1,207 insurance agents

Reported holdings

First Command Advisory Services’ reported 13F holdings total $16.82B across 1,247 positions, and the ten largest make up 86.4% of it.

$16.82B
Reported 13F value: 1,247
Positions: 86.4%
In the 10 largest: +13.3%
Value vs. prior quarter

Ten largest positions, share of reported value

iShares Core S&P 500 ETF · Etp38.8%
iShares U.S. Equity Factor Rot · Etp12.1%
Invesco Nasdaq 100 ETF · Etp8.1%
iShares Core S&P Mid-cap ETF · Etp7.4%
iShares Core S&P Small-cap ETF · Etp5.8%
Dimensional International Core · Etp3.7%
iShares Russell Mid-cap Growth · Etp3.4%
State Street SPDR Portfolio S& · Etp2.6%
iShares MSCI Japan ETF · Etp2.5%
State Street SPDR S&P Global N · Etp2.0%

Together, the ten largest are 86.4% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 10 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $16.82B is not its $24.43B in regulatory assets and does not represent any individual client's portfolio.

Fees

First Command Advisory Services is paid through a percentage of assets under management and fixed fees (other than subscription fees).

First Command Advisory Services’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, First Command Advisory Services has 186 offices, with 26 listed addresses across 13 states.

Listed office addresses by state

Texas · 3 listed addresses

1 Firstcomm Plaza, Fort WorthHQ
6243 I-H 10 West, San Antonio
3803 Levy Lane, Killeen

Registration details

Legal name: First Command Advisory Services
Headquarters: 1 Firstcomm Plaza, Fort Worth, TX 76109
Phone: 817-731-8621
Website: www.firstcommand.com
SEC file: 801-56942
Structure: Texas corporation
Fiscal year end: September

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does First Command Advisory Services have?

First Command Advisory Services has 113,591 clients and manages $24.4 billion for them, as of July 2026. They include 109,659 other individuals, 3,852 high-net-worth individuals and 49 corporations and other businesses.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 21 July 2026

What services does First Command Advisory Services offer?

First Command Advisory Services provides financial planning and portfolio management for individuals and small businesses.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

How many financial advisors does First Command Advisory Services have?

First Command Advisory Services has 1,155 investment adviser representatives registered with state securities authorities, out of 1,787 employees, and 1,155 perform investment advisory functions. 1,232 are registered representatives of a broker-dealer and 1,207 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does First Command Advisory Services invest in?

At the end of its last fiscal year, First Command Advisory Services’ separately managed accounts held 50% pooled vehicles (private funds and similar), 48% exchange-traded equities and 2% cash and equivalents. It advises no private funds of its own.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns First Command Advisory Services?

First Command Advisory Services’ direct owners are First Command Financial (75% or more) and First Command Financial Services, Inc. (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 21 July 2026

How does First Command Advisory Services get paid?

First Command Advisory Services is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file