AXA Advisors

  www.axa-equitable.com
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AXA Advisors Reviews

Updated July 26, 2014
Updated July 26, 2014
284 Reviews

3.3
284 Reviews
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AXA Advisors Chairman and CEO Henri de Castries
Henri de Castries
77 Ratings

Review Highlights

Pros
  • You can make a lot of money if you are truly dedicated and passionate about the job (or about the money) (in 8 reviews)

  • Flexible hours most of the time (in 13 reviews)


Cons
  • No base salary offered in Manasquan (in 8 reviews)

  • Sell to family and friends" marketing mentality (in 6 reviews)

More Highlights

16 Employee Reviews Back to all reviews

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  1.  

    Bad experience waste of time

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Advisor  in  Fort Lauderdale, FL
    Current Employee - Financial Advisor in Fort Lauderdale, FL

    Pros

    Big company. Not many pros unfortunately. Great location.

    Cons

    many false promises to get you in. Didnt deliver promises. Left you alone to do business like independent not office support as promised. Push there products not real full service and brokerage as claimed.

    Advice to ManagementAdvice

    Get a new manager. Get new life in the office. Do you really want to grow with new people? or just numbers game.

    Doesn't Recommend
    Disapproves of CEO
  2. 1 person found this helpful  

    Insurance Sales is all you'll be incentivized to do...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Autonomy to create your own schedule etc...

    Cons

    Somewhat deceptive management and sales tactics. Cold call or hit up your personal contacts to see who wants to buy 1) Life insurance 2) Annuities... that's all this gig is about.

    Advice to ManagementAdvice

    Be Honest

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  3. 2 people found this helpful  

    Exploits new recruits than toss away

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Professional  in  Los Angeles, CA
    Current Employee - Financial Professional in Los Angeles, CA

    Pros

    There is absolutely nothing good about this company. Wish I could give 0 stars.

    Cons

    Everything. They continually hire new people to exploit their natural market and once they are out there is absolutely zero support from the company and pushes the out. There is no chance of turning this into a life long career.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5. 3 people found this helpful  

    Financial Advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Advisor  in  Dallas, TX
    Current Employee - Financial Advisor in Dallas, TX

    Pros

    Wide variety of resources since the company is international . Company provides decent sales training if you are new to sales. You will virtually be just a salesman who calls themselves a "Financial Advisor" and you don't even have to have any type of financial background to be a financial advisor which is totally ridiculously sad but true

    Cons

    Company will tell you whatever they think you want to hear to get you in the door. They will tell you that you will earn 100k + if you just work hard which only 2% of advisors really make annually . Most advisors make around 20k their first year and you will be fired if you don't meet certain quotas. It's a revolving door company policy and after most employees really see what the company is about they leave. There is over a 60% turnover rate annually so you can do the math

    Advice to ManagementAdvice

    TELL THE TRUTH !! Applicants deserve that at the minimum! Don't just try to get individuals in the door!

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  6. 2 people found this helpful  

    Felt mislead and strung along during the onboarding process. Very poor choice for recent college grads.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Really none to speak of.

    Cons

    Dishonest, always additing caveats. Invested over $1,000 of my own money to get licenses only to find out that the reimbursement date was contingent upon further sales, not passing the tests.

  7. 4 people found this helpful  

    Don't start your career here!

    Current Employee - Financial Advisor Trainee  in  New York, NY
    Current Employee - Financial Advisor Trainee in New York, NY

    Pros

    Sponsorship for Series 7, Series 66 and Life, Accident and Health exams.

    Cons

    Dishonest management
    Unknown fees- $400 to rent a desk every month + other fees like using AXA's website which they won't tell you in the hiring process
    incompetent HR-took over 6 weeks for one HR person to process my information so I could take my Series 7
    Little to know training-In less you consider tactics of harassing people on the phone training
    You can't make a long distance call or print a piece of paper without AXA charging you
    If you sell brokerage you have to pay ALL of your own transaction fees
    Get ready to fork over 50% of your commissions to your supervisor when you're starting
    NO SALARY starting out-naturally when you're starting you'll need to pass your exams and build your book so don't count on AXA to get you through those first couple of months. Just so you know the average for starting brokers is anywhere from 300-1000 salary while training.
    They'll take anyone with a pulse off the street and hire them
    They're so desperate they reach out to people that have quit and try to get them back (I've probably received about 10+ phone calls from recruiters since I stopped working there).
    Also...before you start working there just google "AXA Advsors" you'll probably hear more of the same, but check out how many law suite they've been involved in.

    Advice to ManagementAdvice

    None, this company is hopeless.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 15 people found this helpful  

    This Should Be Your Last Choice of Career Agencies

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Financial Consultant  in  Atlanta, GA
    Current Employee - Financial Consultant in Atlanta, GA

    Pros

    - Benefits are decent if you can stay around long enough to take advantage of them
    - The flexbility is incredible
    - Wealth building is among the best in the industry. Very comprehensive but does have long term vesting requirements.

    Cons

    There are numerous downsides to work in the AXA career system, let me debunk some of the myths you will hear recruiters talk about:

    - Your compensation is what you make of it..........flat out pitch to entice new recruits into the "exciting" world of financial based commission sales. Truth be told, you can earn a nice living for yourself if you make it long enough to see some of the "trails" and "residuals" hiring mangers will talk about. There is no way around it, you WILL NOT MAKE MONEY at AXA during your first 3-6 months. Should you stay the course and pass the Series 7 you will only be given 4-8 weeks of "training allowance" for your efforts. The "training allowance" came about as a result of AXA losing a lawsuit in CA because the majority of their new advisors were not earning a wage equivalent to minimum wage, you read that correctly, the majority of new associates have not been earning an amount equal to minimum wage. You pay over $1000 in licensing fees, burn through your contacts (nope, no leads provided either!!!), buy into the AXA system, and work 60-70 hour weeks trying to earn minimum wage at best.

    - No stability and home office or local levels. All hiring managers love to talk about stability and how AXA is so great. They are only telling you 1/2 truth, no, we did not take bail-out money. Why? Because we are headquartered in France and not eligible. What did we do instead? Took bail out money from AXA home office in France. Stability at the local level? Thats a joke. Wholesale district and branch manager turnover across the company. The majority of the talent at the agency and district level has fled for greener pastures over the past 12 months as a result of AXA's failure to adapt and change with the times. The only thing consistent at AXA is increasing expenses moved to the sales force, high associate turnover and non-competitive product offerings (detractors will argue that we have an open architecture...................) we do have the ability to sell outside of AXA if we are personally given permission from the agency manager, good luck!!! The agency managers are paid proprietary overrides at a rate nearly 10x what they receive for non-AXA business. Where is the incentive to approve your request? If they do approve the request, any non-AXA business you sell will not count towards benefits validation or wealth building. This is a publicly traded company and treated like one. In fact, they are currently in the process of transitioning a new CEO. The former CEO was excellent and did a wonderful job of navigating AXA through an incredibly difficult financial time, his reward? move over buster here comes the new guy, with new ideas, and new ties to improve the stock price.....how will he do it? Cut costs (i.e. cut salary and payouts) and drive proprietary business sales (making a difficult request even more challenging!!!)

    - AXA is one of many career agencies that introduce new advisors into the business. Do your homework and don't be afraid to interview with other firms, especially those who actually invest in new associates. I would recommend Guardian, MetLife or Mass. I know that I will get flack for mentioning these firms but I really don't care. Don't let any recruiters fool you or tell you differently, we all do effectively the same type of business, we just go at it different ways. You will sell life insurance and tons of it if you want to succeed at AXA.

    In closing, I have been a high level producer with AXA for some time and have made it through the challenges described above. My personal wealth is so tied into the AXA value prop that I have no choice but to stay. However, I have not, can not and will not ever refer anyone to work with the firm. I would challenge ANY hiring manager to argue or challenge the points outlined above. I have been pleased with my AXA experience but I doubt you will be so lucky.

    Advice to ManagementAdvice

    As a current financial consultant I would recommend that they reinvest in the field sales force and move towards a more sustainable hiring and development model, as opposed to a "call everyone you know and then be out of the business in 12 months" type of hiring model.

    Take your own advice: I can't tell you how many times in my career I have been told to invest in my business and think like a business owner. Why doesn't AXA senior management invest in field sales force? Start offering the DSF a true salary option to help smooth out some of the ups and downs and don't hold out a legally mandated minimum wage as a "training allowance" to help get them started in the business. I have personally heard a member of the AXA senior management committee (Yes, the NYC senior management committee, which tells you what kind of producer I am to have access to these persons!!!) complaining about being legally forced to offer new associates a training salary after they pass the Series 7 exam. This resentment is readily apparent in their field communications.

    Most importantly, VALUE PRODUCERS OF ALL LEVELS, as they help make the company what it is. Losing 9 out of 10 people that start and positioning yourself as the "chosen place to build a career" is flat-out misleading. If you want to be the best, then invest in your business like you mean it!!!

    Doesn't Recommend
    No opinion of CEO
  9.  

    Con Job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Scottsdale, AZ
    Current Employee - Anonymous Employee in Scottsdale, AZ

    Pros

    Good Training and proper work atmosphere.

    Cons

    100% commission scam + being pimped out (having to split whatever small commission with your managers for the first 2-3 years).
    Also have to pay every business expense from your own pocket!

    Advice to ManagementAdvice

    There must be a reason why they are not growing: give employees a chance with a base and much more time to validate contracts.

    Doesn't Recommend
    Disapproves of CEO
  10.  

    Run after you get your licenses!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Financial Consultant  in  New York, NY
    Current Employee - Financial Consultant in New York, NY

    Pros

    they sponser your certifications for your 7 and 66

    you have a decent choice of joint work partners that you can choose to work with

    the location of the office is convenient to get to meetings

    training provided if you are interested about insurance and insurance products and how to sell them

    if you are straight out of school, this may be a job to learn

    Cons

    -Everyone is tryign to steal eachother's businesses
    -Managers encourge you to download attorny lists thats been called again and again so that you may practice on your rebuttals
    -Have to pay for your own computer, software rentals, and all marketing materials.

    Advice to ManagementAdvice

    Ethics Ethics Ethics

    Doesn't Recommend
    No opinion of CEO
  11. 2 people found this helpful  

    working as an Axa Advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Financial Professional  in  San Francisco, CA
    Current Employee - Financial Professional in San Francisco, CA

    Pros

    If you like Axa Equitable as a company, than Axa is the place for you. If you want to be a more well rounded advisor and think outside the box, it is not.

    Cons

    Working at Axa Advisors is best described as working as a sales rep for Axa Equitable. The advisors have the ability to sell a multitude of financial products, but every incentive in the world to sell only Axa Equitable products, which are obviously not the most appropriate in every circumstance.

    Advice to ManagementAdvice

    My advice to management is that they treat thier employees better. Don't nickel and dime them as much as you do.

    Doesn't Recommend
    No opinion of CEO

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