Now Live : 2025 Global Most Loved Workplaces® — See the Top 100 Companies
The 2025 America’s Top 100 is live. See the list →
The 2025 America’s Top 100 is live. See the list →
Ladies and gentlemen, thanks for tuning in to another exciting episode of The Leader Show with Lou Carter. Today, we are joined by Mark Steffe, the CEO of First Command Financial Services. A renowned financial advisory firm, First Command is committed to supporting U.S. military service members by offering comprehensive and complimentary financial plans tailored specifically to their unique needs.
With that said, let’s find out what makes First Command a Most Loved Workplace.
Lou initiates the discussion by lauding Mark for his well-respected leadership and ability to connect with clients, despite coming from a non-military background.
The latter attributes his success to a leadership principle he learned from a development program 15 years ago: being respectful of the past, realistic about the present, and optimistic about the future. He emphasizes the importance of understanding and respecting the history and culture of a company when entering a new environment. According to him, it’s the newcomers’ responsibility to integrate into the existing culture, not to impose their own ideas or changes immediately.
Mr. Steffe highlights that those who take the time to appreciate and understand the values of First Command tend to find more success within the organization than those who try to impose a different culture.
In response to Lou’s question about the role of respect in First Command’s culture, Mark explains that respect and love are almost synonymous within their organization. Love is defined as putting others’ good ahead of one’s own. This principle governs their work, their clients, and their coworkers.
He further highlights that one must look at its history to truly understand the company’s values. First Command was founded in 1958 by Lieutenant Colonel Carol Payne, a retired Air Force officer. Payne was motivated by two significant life experiences: witnessing the financial hardships faced by families of soldiers and observing many service members who were unprepared for their retirement.
So, to tackle these issues, Payne vowed to establish a company to better equip service members for financial challenges, be they personal tragedies or long retirements. Thus, First Command was born, a company made by a service member for service members and their families.
This foundational commitment influences the organization’s mission: “coaching those who serve in their pursuit of financial security.” This mission specifically refers to military families and is viewed by First Command employees, advisors, and teams as compelling, inspiring, and unifying.
Additionally, Mark mentions that First Command’s culture is one of selfless service, drawing heavily from military principles. The company attracts employees with military backgrounds or connections, reinforcing its core belief that while no one joins the military to become rich, they shouldn’t struggle financially. First Command aims to help military families achieve and maintain financial security.
Next, the speakers talk about First Command’s unique talent acquisition process. Mark mentions that the company is proactive in recruiting military spouses and veterans, recognized consistently for its efforts in this regard.
Mr. Steffe further highlights that the appeal of First Command goes beyond those with direct military connections. He cites his own experience as someone who did not serve but was drawn to the organization’s mission and the potential positive financial impact on military families. He asserts that even those without military service can easily align with the mission if they are willing to understand, respect, and commit to supporting military families.
Overall, this dedication to caring for military families serves as the common denominator uniting all employees at First Command.
Moving on, Lou inquires about Mark’s personal journey and success. The latter shares that he grew up in a middle-class, blue-collar family in the Midwest. His father was a mechanic, and his mother was a secretary for John Deere.
From his upbringing, Mr. Steffe gleaned valuable lessons such as the importance of a strong work ethic, honesty, and humility. He learned to celebrate successes modestly and quickly move on to the next goal. This mindset has remained with him throughout his career.
Mark also emphasizes the importance of teamwork in achieving greater success than what one could accomplish alone. This team-oriented mentality, which he developed while playing sports in his youth, has been applied throughout his professional life. His approach involves understanding the mission, identifying the best strategies to address issues, and collaborating with the right people to solve problems.
In response to Lou’s follow-up questions, Mark shares two key elements that have been crucial to his success and the success of First Command: communication and teamwork.
He stresses the importance of maintaining consistent, clear, and logical communication with his team, regardless of their position in the company hierarchy. Plus, he believes that every decision should be comprehensible to all employees, even if they may not personally agree with it. Mark argues that when leadership is predictable, and decisions are understandable, trust within the organization increases.
In terms of teamwork, Mr. Steffe emphasizes the need to trust and empower employees. He strongly opposes micromanagement and advocates for a leadership style that encourages employees to take ownership of their roles.
Overall, Mr. Steffe tries to lead in a way that not only he believes is best for his team but also how he would want to be led himself.
Reflecting on his journey, Mark acknowledges the successful transition of leadership from Scott Spiker to himself, which he credits to a well-planned succession process and a solid foundation laid by his predecessor.
Stepping into the CEO role in January 2020, Mark faced immediate challenges brought on by the COVID-19 outbreak. Despite these difficulties, he and his team remained committed to their growth aspirations and five-year strategy. The company had to adapt quickly to the changing circumstances, shifting from face-to-face interactions to virtual environments and transitioning employees to remote work. Despite these challenges, First Command recorded a year of growth in terms of revenue and profitability.
Lastly, Mark expresses immense pride and gratitude for his team’s resilience, dedication, and commitment throughout the challenging period. Their ability to work through the obstacles posed by the pandemic while keeping sight of the company’s long-term plans has been instrumental in ensuring First Command’s continued success.
Lou and Mark go into much greater detail throughout this conversation.
Thank you for listening!
