Complaint Review: First Command Financial Services - Fort Worth Texas
- First Command Financial Services First Comm Plaza, Fort Worth, Texas United States of America
- Phone: 1-800-443-2104
- Web:
- Category: Brokerage Companies
First Command Financial Services Incompetitent, deceptive Fort Worth, Texas
*Author of original report: Status update regarding First Command Financial Services
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I have been a client of this company for more than 20 years and have watched them diminish my retirement account substantially over the past 10. In 2010 I met with my "advisor" and was advised that to increase my investment and dividends I should transfer my funds to a different type of investment plan. I did this and two years later, despite the market going up, my investment is worth even less than in 2010. I have been planning to discontinue my business with them for sometime.
Today, I received a notice from the IRS that we owed them nearly $28,000 for the "sale" of stocks. I was shocked to say the least since we were told that this was a transfer, the word sale never came up and I was certainly never advised that this action would have tax implications. Noteably, this "income" was reported to the IRS on 1099's that were never provided to us. I will post again once I meet with them, but please stay away from this company, they will cause you all kinds of grief. Clearly, someone in this company reported income to the IRS that was not income and then didn't provide me with the documents. Criminal or incompetent, either way they are bad news.
This report was posted on Ripoff Report on 06/07/2012 09:17 PM and is a permanent record located here: https://www.ripoffreport.com/reports/first-command-financial-services/fort-worth-texas-76109-4999/first-command-financial-services-incompetitent-deceptive-fort-worth-texas-894514. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 Author of original report
Status update regarding First Command Financial Services
AUTHOR: Retired mil. - (United States of America)
SUBMITTED: Friday, June 08, 2012
I wanted to provide an update to the post I did last night regarding First Command Financial Services. I was finally able to speak to my Financal Advisor from First Command regarding the correspondence I had received from the IRS. He appeared to understand exactly what had happened and indicated that they can assist in preparing the necessary documentation for the IRS that will make it clear that I don't actually owe them anything. He indicated that they wll send me computations needed by next Tuesday. I will keep on updating this post as things transpire, it would also seem that I am not the only client that has experienced this issue.


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