AXA Advisors
2.9 of 5 242 reviews
www.axa-equitable.com New York, NY 1000 to 5000 Employees

AXA Advisors Reviews

Updated Apr 10, 2014

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2.9 242 reviews

                             

78% Approve of the CEO

AXA Advisors Chairman and CEO Henri de Castries

Henri de Castries

(58 ratings)

41% of employees recommend this company to a friend
17 Employee Reviews Back to all reviews
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Working as a Financial Advisor was a great way to get licenses, and a LOT of headaches.

Financial Advisor (Current Employee)
Los Angeles, CA

I have been working at AXA Advisors full-time for more than a year

ProsFairly easy sales quotas, reimbursement for licensing (and thats it) . Lots of turnover means they hire almost anybody.

ConsTerrible managers in the entire WLA office. New hires are brought in to sell to their families and friends and then dumped.

No, I would not recommend this company to a friend

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RBG may seem like a good niche but doesn't compensate enough

Financial Advisor (Current Employee)

I have been working at AXA Advisors as a contractor for more than a year

ProsBesides management, almost everyone else is new so people are very friendly with one another. Even if new to the financial field, you learn a bit about it.

ConsIt takes a while to do any real business. They want you to first start off with family and friends. It may seem that's part of their strategy because they help you sign them up, and get a % of the commisssion, but won't help you to acquire any new business.

No, I would not recommend this company to a friend

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1 person found this helpful  

Will take years to become successful unless you have a significant book to begin with.

Financial Professional (Current Employee)
Smithfield, NC

I have been working at AXA Advisors full-time for more than a year

ProsTechnology getting better. Decent wholesaler access.

ConsManagement support is overall poor.No marketing at all. Expenses are high.No help unless you are producing early.Experienced sales force is disengaged with building new business.

Advice to Senior ManagementStop recruiting. Get your experienced sales force to become more willing to grow and get them to recruit for you.

No, I would not recommend this company to a friend

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It was an interesting experience

Anonymous Employee (Current Employee)

I have been working at AXA Advisors

ProsFlexibility and is great if you want to work your own hours.

ConsHave to generate your own client base

Advice to Senior ManagementCreate an assistant position for new reps to learn the business before making them agents

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1 person found this helpful  

Interesting beginning showed what didn't want with a company.

Anonymous Employee (Current Employee)

I have been working at AXA Advisors

ProsFriendly people, relatively good products

ConsVery little actual training. Overburdened division managers. No actual CRM help until on contract.

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Intern

Anonymous Employee (Current Employee)

I have been working at AXA Advisors as an intern

ProsRotation, flexible work hours, very nice people.

ConsPretty much the only path you have as an option after the internship is to become an insurance salesman.. LOTS and LOTS of cold calling.

No, I would not recommend this company to a friend

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5 people found this helpful  

RBG-Think long term if you want to make it here

Financial Advisor (Current Employee)
Oak Brook, IL

I have been working at AXA Advisors full-time for more than a year

ProsThere is unlimited earning potential, you are in complete control of your own schedule, own your own book of business, and are able to provide valuable financial services and tools to those who need it. The employee benefits are pretty good including a generous stock option plan, a nice bonus structure, and residual pay.

 It is a postion where if you can make it through the daily grind for 10+ years you will be very happy with the money made and is without a doubt a job you should only consider if you are truly looking for a long term position with a company. Don't work here if you only want to get 1-2 years of experience and move on, it's not worth it and there are better places to do that, but if you go in with a long term perspective it can be a good opportunity for those that are driven, competitive, and good in a sales/numbers environment.

ConsIt is one of the hardest jobs I've encountered and the numbers back it up as there is a little less than a 15% retention rate of employees after 4 years. A big part of this is there are a lot of costs associated with the job, for example: you rent your office space from the company and have to pay for it, the same with the mandatory company computer, as well as your licenses, the majority of the planning and organizational software necessary to do the job, and professional liability insurance among other expenses. It's not uncommon for my first salary paycheck ever month to go entirely to these costs.

You spend about the first 3 months of work without any form of salary so in additional to trying to learn about all the products and services, you are required to try to sell these products in order to make money, even though you do not know enough to adequately sell them. Additionally in the short term the pay isn't competitive with other companies in the industry, it gets better after about 5 years and catches up, but that is due to the compounded residual pay in addition to the bonus structure.

There is a terrible work/life balance as I typically find myself leaving home by 5:30am and getting back home after 10pm. This is mainly because the job is at it's core a sales job, which would be fine, but in addition to going through the typically sales process (prospecting, making calls, preparing for appointments, running appointments, closing the sale) you don't have an assistant of any type so you are also responsible for the administrative half of the sale (filling out paperwork, processing paperwork from start to finish, following up with and correcting any errors made by yourself, the client, or the home office-who unfortunately are very understaffed and as a result make an immense amount of mistakes). This gets better after time when you can afford to hire an assistant to handle the follow up and paperwork, but again that is an entirely out of pocket expense with no company support.

There isn't a very clear channel of communications at any level of the company. When paperwork needs to be followed up on you can easily wait on hold for 30+ minutes just to talk to 4 different people about the same problem before ever getting to someone who can solve it. There needs to be a restructuring and a serious reevaluation of how best to provide insurance.

Advice to Senior ManagementDo more to develop and support new employees. There is no reason to be charging the employees to use office space just to increase the bottom line. It shouldn't be an acceptable practice or considered normal in the company to hire 20 people and after 10 have quit, lose another 5 on top of that just because even though they are good at the job, they simply can't afford to continue to work at the company. Something seriously needs to be done about that. Additionally, there needs to be some encouragement and support for a life outside of work. Your sales staff shouldn't be spending an extra 30 hours/ week doing activities that don't bring in money for themselves or the company. An easy fix would to be to provide a few administrative assistants that handle the follow up of paper work and take some of that responsibility from the financial professionals, so instead of paperwork the FP's can do what they are supposed to be doing, which is make sales and bring in money.

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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4 people found this helpful  

Good learning experience, wouldn't recommend

Financial Consultant (Current Employee)

I have been working at AXA Advisors full-time for more than 3 years

ProsLots of resources, strong insurance brands, LPL Financial Brokerage Platform

ConsCommission Only, Extremely high cost to operate your practice (at least 20-30k per year), Nickel and dimed for supbar technology and marketing material. No formal training program with a focus on small account production. Compensation & Benefits are too tied to your insurance production. They claim independent open-architecture but the only products they really want you to sell is AXA Equitable Life Insurance and Annuities.

Advice to Senior ManagementIt's not AXA Equitable, it's AXA Advisors. Insurance is not the end all be all for financial planning. Invest in your producers with a base salary and stop charging them for everything. Also, train your producers to build a pipeline of prospects with minimum asset levels. They spend far too much time servicing non profitable clients with under 100k in assets and don't have the platform to support HNW clients. They can't live and die by VUL and VA's because post financial crisis clients expect a lot of liquidity and are very fee conscious.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Stay Away

Anonymous Employee (Current Employee)
New York, NY

I have been working at AXA Advisors

Prosyou work for your self, what you put in you get out. Nice offices. People are very friendly and willing to help

ConsNo support from senior management. Very difficult to get started. Will be cold calling for your first year to get very few apointments

No, I would not recommend this company to a friend

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Look Elsewhere for Employment

Financial Advisor (Current Employee)
Irvine, CA

I have been working at AXA Advisors

ProsBenefits are pretty good.
Freedom to determine schedule.
Possibility for high earnings.
Company reputation not associated with the rest of financial services industry and the bailouts and lawsuits.

ConsConstant pressure to sell insurance products.
Forsaking of client well being for profit.
Excessive costs passed on to employees.
Lack of management support.

No, I would not recommend this company to a friend

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Glassdoor is your free inside look at AXA Advisors reviews and ratings — including employee satisfaction and approval rating for AXA Advisors CEO Henri de Castries. All 17 reviews posted anonymously by AXA Advisors employees.