Financial Advisor at First Command Financial Planning
Air Force veteran Fred Semasko went from building bombs to building financial portfolios.
by Warren Duffie

Unlike many kids, Fred Semasko understood the value of money growing up. His mother saved cash relentlessly and his father was a keen investor in the stock market.

“When I was 6 years old, I could read and understand the stocks page of the newspaper,” Semasko said. “My dad also would take me to the local bank to look at the stocks ticker. So I knew how money worked from an early age.”

So it’s no surprise that Semasko eventually applied this knowledge to a career in finance. Since leaving the Air Force in 2003, the former senior master sergeant has built a booming business as a financial advisor for First Command Financial Planning.

Helping Others Secure Their Financial Futures
Semasko, 51, lives in Shalimar, Fla., in the state’s panhandle’s pristine “Emerald Coast.” He describes his job as “helping clients make smart decisions about their money.” He provides guidance on a wide range of services, including saving, homeownership, investing, college planning, and the biggest thing on people’s minds nowadays –- retirement.

“Building trust is the key component of what I do,” Semasko said. “People rely on me to help them make good decisions. They pay me to worry about their money so they don’t have to.

“Many of my clients have recommended me to their closest relatives, which I consider the ultimate compliment,” he continued. “I like to joke with them that they can trust me because my No. 1 customer is my mom in New Jersey. The only difference between the service I provide to her and them is that I tell her I love her when I get off the phone.”

Trust-Building Pays Off
Such personalized service has grown Semasko’s business from 25 customers to 464, representing millions of dollars in assets. He works with two full-time assistants, which includes his wife, also a retired Air Force veteran. Semasko usually arrives at the office at 7:30 a.m., confers with his assistants about pressing issues and appointments, and spends the rest of his day in client meetings. He returns around 4 p.m. to do research and revise or expand customers’ financial plans before heading home at 7 p.m.

About 75 percent of Semasko’s clients are active-duty and retired military – not surprising since his office is near Naval Air Station Pensacola, Fla. and Eglin Air Force Base, Fla.

“Did you know when you leave the military you stand to lose – including benefits, allowances, and insurance – around $1 million in total benefits?” Semasko asked. “I look at ways to help veterans recoup some of these benefits through a variety of investment funds, IRAs, and government programs.”

A Financial Company Created by Military Veterans
As a Registered Investment Adviser firm, First Command Financial Services, develops and delivers comprehensive financial services to assist American families in their efforts to build wealth, reduce debt and pursue their lifetime financial goals and dreams. The company serves over 292,000 clients, managing $18.6 billion in assets.

Through a combination of independent advice and personalized financial plans encouraging consistent investing, carefully selected insurance and adequate savings, First Command has a rich history of establishing lasting relationships with hundreds of thousands of client families since 1958.

“The company was started by a World War II pilot and three other officers,” Semasko said, “out of the trunk of a Volvo. They saw a need for military families that lost husbands and fathers and were left with nothing. They determined that military veterans needed a way to save and invest for the future.”

A Munitions Technician with a Knack for Money
In 1978, Semasko had just graduated from Ramapo College of New Jersey with a degree in sociology and communications. The Sayerville, N.J., native was wondering what to do with his life when a buddy contacted him and asked Semasko to join the Marines with him.

Semasko thought this was a great idea and rushed home to tell his parents. His father took him aside and said if he wanted to enlist, he should choose the Air Force instead.

Semasko shipped out to boot camp at Lackland Air Force Base – followed by munitions training at Colorado’s Lowry Air Force Base.

“It’s funny how my job involved working with bombs, explosives, and missiles, but my true passion was finance,” Semasko said. “I was always advising people about savings accounts, stocks, and mutual funds. People seemed to really like what I said.”

Turning a Hobby into a Career
During his Air Force career, Semasko was stationed in New Mexico, Japan, England, and Desert Storm, to name a few. Returning stateside in 2002, Semasko decided it was time to return to civilian life.

During his military career, Semasko was a loyal First Command customer. In fact, he often hosted parties in which his advisor held informal seminars and training.

“My advisor told me repeatedly that I should do finance for a living,” Semasko said. “My wife and friends told me the same thing, so I decided to give it a shot.”

After several interviews with First Command, Semasko enrolled in the company’s training program, which lasted several months. By the time of his separation in 2003, he had set up his office and was ready for business. At first, things were slow as his initial commissions didn’t kick in for three months. Semasko and his family lived off their savings and his wife’s active-duty salary. However, within a year, business was very good.

“After only a month, I knew this was the job for me,” he said. “I highly recommend this line of work to veterans. Many of the company’s employees, customers, and officers are former military, and the environment is very close-knit, like a base. Also, your organizational skills, discipline, and attention to detail will come in handy.”