FORT WORTH, Texas--(BUSINESS WIRE)--First Command Financial Services, Inc. announced today that its Asset Management Services (AMS) program and banking affiliate closed out the fourth quarter of 2017 holding approximately $2.3 billion in marketable securities.
According to its most recent Form 13F filings with the Securities and Exchange Commission, First Command held approximately 25.1 million shares of certain marketable securities (specifically, securities that are traded on public exchanges, including exchange-traded funds and individual stocks, but not mutual funds) as of Dec. 31. The bulk of these investments were managed on behalf of clients of the company’s AMS program, which held approximately 19.7 million shares valued at $2.1 billion.
“First Command’s AMS program continues to earn the loyalty of our clients who seek to consolidate assets into a single, easy-to-monitor investment program that provides strategic asset allocation and broad diversification,” said First Command’s Chief Investment Officer John Weitzer. “Our team of knowledgeable, experienced professionals operate within the framework of a proven process. We are honored to provide our clients with personal attention, disciplined adherence to proven financial principles and professional investment management that aligns with the goals of their financial plan and their long-term pursuit of financial security.”
In addition, First Command Bank held approximately 5.4 million shares valued at $178 million on behalf of the clients of its Wealth Management & Trust Services Group.
“Our Wealth Management & Trust Services Group is proud to act as investment manager and custodian for our high net worth clients,” said David White, president of First Command Bank. “Our fourth quarter numbers underscore the trust that these valued clients continue to place in us. We take great satisfaction in serving their unique needs and giving them the highest level of advice and service.”
First Command Financial Services, Inc. offers financial planning services, asset management services and other investment advisory services to individuals and entities. Managed accounts and mutual funds totaled approximately $27.8 billion as of Dec. 31, 2017.
First Command Bank is a federally chartered savings bank and a member of the Federal Deposit Insurance Corporation (FDIC). In addition to wealth management and trust services, the bank offers a variety of personal banking products and services that include checking and savings accounts, certificates of deposit, automobile loans, secured and unsecured personal loans, debt consolidation loans, credit and debit cards and online banking services. Commercial banking products and services offered by First Command Bank include commercial checking accounts, money market savings accounts, commercial loans, business credit and debit cards and online banking services. First Command Bank’s assets totaled approximately $749 million as of Dec. 31, 2017.
About First Command
First Command Financial Services and its subsidiaries, including First Command Financial Planning and First Command Bank, coach our Nation’s military families in their pursuit of financial security. Since 1958, First Command Financial Advisors have been shaping positive financial behaviors through face-to-face coaching with hundreds of thousands of client families.
First Command Financial Services, Inc., is the parent of First Command Financial Planning, Inc. (Member SIPC, FINRA), First Command Advisory Services, Inc., 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. , a broker-dealer. Financial planning and investment advisory services are offered by First Command Advisory Services, Inc., an investment adviser. 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. First Command Financial Services, Inc. and its related entities are not affiliated with, authorized to sell or represent on behalf of or otherwise endorsed by any federal employee benefits programs referenced, by the U.S. government, or the U.S. armed forces.