SEC-registered wealth management firm Broker-dealer affiliated
First Command Advisory Services
As of its Form ADV filed July 21, 2026, First Command Advisory Services, an SEC-registered, broker-dealer affiliated wealth management firm in Fort Worth, Texas, reported $24.4 billion in regulatory assets under management across 113,591 accounts, ranking #5 among all wealth firms in Texas by assets.
Registration
- Main office
- Fort Worth, TX
- Registration
- SEC-registered, Approved
- CRD number
- 281958
- SEC file number
- 801-56942
- Registered since
- July 28, 2005
- Latest Form ADV filing
- July 21, 2026
- Organized as
- Corporation
- Fiscal year ends
- September
- Other offices
- 186
Key figures
- Regulatory assets under management
- $24.4 billion
- Discretionary
- $24.4 billion (100.0%)
- Non-discretionary
- $0
- Accounts
- 113,591 (113,591 discretionary)
- Clients
- 114,604, approximate as reported
- Employees
- 1,787
- Advisory staff
- 1,155 performing investment advisory functions
- Average account
- $215,065
- Asset growth, 1 year
- 10.6% (from $22.1 billion a year earlier)
- Asset growth, 3-year annual rate
- 15.8% (from $15.7 billion three years earlier)
- Asset growth, 5-year annual rate
- 10.7% (from $14.7 billion five years earlier)
- Client growth, 1 year
- 3.0% (from 111,266)
Broker-dealer affiliated. The firm is affiliated with a bank (Item 7.A(8)) that is part of a group with a broker-dealer (Item 7.A(1)) or controlled by a public company (Schedule D, Item 10.A). It is ranked among all wealth firms, the directory's view that includes wirehouses and broker-dealer firms, not in the main lists of independent RIAs. How firms are classed.
Growth rates come from the SEC's yearly snapshots and are left blank when the years are not comparable.
Rankings
Among all wealth firms, including wirehouses and broker-dealer firms.
Assets over time
Data table
| As of | RAUM |
|---|---|
| October 3, 2016 | $9.6 billion |
| October 2, 2017 | $10.6 billion |
| October 1, 2018 | $11.9 billion |
| October 1, 2019 | $13.0 billion |
| October 1, 2020 | $13.5 billion |
| October 4, 2021 | $14.7 billion |
| October 3, 2022 | $18.9 billion |
| October 5, 2023 | $15.7 billion |
| October 1, 2024 | $17.5 billion |
| September 2, 2025 | $22.1 billion |
| October 2, 2026 | $24.4 billion |
Clients and services
Client mix
| Measure | Bar | RAUM |
|---|---|---|
| Individuals (other than high net worth) 109,659 clients | $20.1 billion | |
| High net worth individuals 3,852 clients | $4.3 billion | |
| Corporations or other businesses 49 clients | $50.8 million | |
| Charitable organizations 27 clients | $5.2 million | |
| Pension and profit sharing plans 4 clients | $2.9 million |
How the firm is paid
- A percentage of assets under management
- Fixed fees
Advisory services
- Financial planning
- Portfolio management for individuals or small businesses
Financial planning clients (Item 5.H): 35500.
Wrap fee program sponsor or portfolio manager: yes.
Other business, affiliations and custody
Other business activities (Item 6.A)
None reported.
Financial industry affiliations (Item 7.A)
- Broker-dealer
- Other investment adviser
- Banking or thrift institution
- Insurance company or agency
Custody (Item 9)
The firm reported custody of client cash or securities, $21.1 billion in total.
Investment adviser representatives
- IARs registered with the firm
- 1,027
- Also registered through a broker-dealer
- 1,023
- Employees who are IARs (Form ADV 5.B(3))
- 1,155
Designations held by the firm's IARs: CFP 107, ChFC 63, CFA 3.
Between 87 and 421 of the firm's 1,027 IARs are registered in jurisdictions that require IAR CE. The source counts registrations by jurisdiction, and many IARs are registered in more than one, so the exact number is not knowable from it. IAR CE requirements by state.
Counts only. AdvisorIQ does not list individual people.
Disclosures
On Form ADV Item 11 the firm answered yes to 4 disclosure questions. See the detail on IAPD.
Succession and acquired firms
On Form ADV Item 4 the firm did not report succeeding to another adviser's business.
Similar-sized firms in Texas
| Firm | City | RAUM |
|---|---|---|
| Valic Financial Advisors, Inc. | Houston | $29.2 billion |
| United Capital Financial Advisors | Irving | $24.6 billion |
| Prospera Financial Services, Inc. | Dallas | $14.4 billion |
| Kestra Private Wealth Services, LLC | Austin | $13.5 billion |
| Sarofim Trust Co | Houston | $13.0 billion |
The five wealth firms, broker-dealer affiliated firms included, nearest in regulatory assets with a main office in the same state.
Elsewhere
- First Command Advisory Services on IAPD: Form ADV, brochures and disclosure detail.
- Firm website: www.firstcommand.com
- Wealth management firms in Texas
Firm data as of October 2, 2026, from ia100226.zip. Figures are as the firm reported them; corrections are made on Form ADV and appear after the next monthly reload.
Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.