USAA Investment Services Company

USAA Investment Services Company provides retirement-focused advice and referral services to USAA members and other individual investors, primarily through phone and digital channels. It delivers a Retirement Income Strategy Report (RIS) and facilitates referrals to a third-party broker-dealer/adviser for investment accounts rather than maintaining client accounts or managing assets.

ISCO’s advice is limited to discussions of retirement savings, asset allocation, risk tolerance, and income planning; the RIS is a point-in-time, non‑comprehensive document that relies on information clients provide. Its representatives are dual‑registered as broker‑dealer and investment‑adviser representatives and also hold insurance appointments, so they may offer annuities or life insurance products in their capacity as insurance agents.

The firm is an indirect, wholly owned subsidiary of USAA and remains registered as both a broker‑dealer and an investment adviser, but it operates principally as a referral intermediary after selling its prior brokerage and advisory businesses to another firm. Unlike most enterprise peers, ISCO does not charge percentage‑of‑assets fees, does not provide portfolio management for individual clients, and does not serve corporate or business clients.