AXA Advisors

www.axa-equitable.com/axa/careers/axa-advisors.html
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AXA Advisors Reviews

Updated August 10, 2015
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AXA Advisors Chairman and CEO Henri de Castries
Henri de Castries
11 Ratings

Pros
  • You can definitely make a lot of money, if you choose to focus on the life insurance side of the business (which they heavily encourage/promote) (in 8 reviews)

  • Creating your own work schedule/ Flexible Hours (This is not a 8-5 job) (in 14 reviews)

Cons
  • No base salary, heavy sales focus, no formal training (in 8 reviews)

  • Hard industry to break into, a lot of time will be devoted to establishing your Book of Business (in 6 reviews)

More Pros and Cons

84 Employee Reviews

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  1. Helpful (3)

    Good place for experienced advisors, bad for new advisors

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Saint Louis, MO
    Former Employee - Financial Advisor in Saint Louis, MO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Good place if you are an experience advisor and willing to produce at a level you were currently producing, but thats about it. AXA has good products with access to insurance, planning and wealth managment but if you do not sell enough "AXA" products you do not get benefits. It is a good place to build wealth with a hell of a stock purchase plan, 401(k), and defined benefit plan. AXA is also a very large, strong company and you do not have to worry about being bought by another company.

    Cons

    Way behind in technology, it takes waaaaay to much time to fill out paper apps. Compliance is very very strict and AXA is a very conservative company, which could also be viewed as good. If you are new to the industry, look elsewhere! There is no training at all and you are basically thrown in to sink or swim. Most of the management is sub-par and are clueless when it comes to growing new advisors.

    Advice to Management

    Develop a formal training program for new advisors BEFORE they start selling, or expect the same high turnover. Times have changed, it is time for AXA to change as well.


  2. Helpful (3)

    They get you off to a good start, then drop you for the next newbie.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Consultant in Woodbridge, NJ
    Former Employee - Financial Consultant in Woodbridge, NJ
    Doesn't Recommend
    No opinion of CEO

    Pros

    Compensation is decent. They give a sizeable bonus on top of all production your first year, then scaled it down the second year, and the third. Fourth year becomes increasingly difficult to run a practice if you have not built a strong foundation of investment assets.

    Cons

    Management pushes Life Insurance and Annuities because it is the best up-front commissionable dollars for them. They suck you dry for your family, friends and energy then management leaves you be to wither away. Your incentive to bring in investible assets is minimal, as they do not train you for this, nor do they have knowledgeable investment head honcho's to assist you. After two-years with the company, I did not have a leg to stand on as I was attempting to continuously new clients. Most of the people I entered AXA with have left due to poor management, or just realizing that this is not the way to run a business. I also received a letter in the mail from a law office, six months after leaving AXA. They state that I owe a significant amount of Pre-Paid Commissions paid by AXA to me, without them receiving payment from the policies that I was paid on. Now let's get this straight. I leave a company, six-months later they send a letter, not from their headquarters, but directly from a law-firm in New York. Sounds a little weird to me. I pulled in quite a bit of assets for them, and if you are to leave the firm and commissions have not paid out to you for a policy in under-writing, they keep the commissions, they don't send them to you. So why in the world, after I sold their products and made sure clients paid their premiums would they come after me now? A comapny with $2trillion of assets should realize that they sucked me and my family dry enough.

    Advice to Management

    Wake up. You need to run a practice that doesn't allow your employees to look at each client as an annuity/life insurance sale. Focus on trying to retain consultants by pushing for asset management, not just quick one time sales is the way to build a trust-worthy and thriving business. Don't come after employees that dedicated years of their career to your company, and ask them for money back for policies that people stopped paying. That is not my problem. You hire people to get them to pay their premiums as you made us, as employees, do to keep your company going.


  3. You need to have a large network of teacher friends

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Fort Worth, TX
    Former Employee - Financial Advisor in Fort Worth, TX
    Doesn't Recommend
    No opinion of CEO

    Pros

    Receive sponorship to take all applicable FINRA tests (Although you have to pay for them) Work for an established company

    Cons

    Expected to sell to family & friends to reach 25 clients before recieving a salary and benefits. Must snoop around schools to set meetings with prospective clients

    Advice to Management

    Treat new hires as an individual instead as someone that will not be there in a month because it can be noticed.


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  5. Good Ole Boys Network

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Los Angeles, CA
    Current Employee - Anonymous Employee in Los Angeles, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Little oversight, freedom to control hours.

    Cons

    No help, all sales talk, poor management, wasteful meetings.

    Advice to Management

    Learn how to give new associates qualified leads, or at least help them with admin/ marketing. New Associates/ Consultants will always fail with the lack of support given. A meeting is not help.


  6. Helpful (2)

    AXA Advisors, not a job for most

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Consultant in Oak Brook, IL
    Current Employee - Financial Consultant in Oak Brook, IL
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The flexibility to create your own schedule. The ability to take personal time if needed. Experience in selling financial products to individuals.

    Cons

    The expenses are not fully disclosed with the exception of buying a computer and testing. Expenses include, testing ($1300, 900 is reimbursed), a computer (1500), workstation access (65 month), gas (easily $150 a month), business cards (30, that's right you pay for business cards!), stationary (30), extra marketing materials (10). RBG planner (25). These expenses are among others and quickly add up. The pre-contract period can be 6 months or greater in which you are not making any money. The hiring process is "churn and burn." They will hire as many people as they can to try to keep up with the attrition. This makes it difficult to get any guidance or training from mangers as they assume you will most likely be gone in a year. They don't have any sort of training orientation for new hires. Level 1 training is offered but some do not go to it until 1 year after their pre-contract date. Your job title should be "prospector," or "insurance peddler." In no way are you Advising or Consulting anyone on their financial affairs. If you find a worthwhile potential customer with assets, then you have to bring in a more experienced associate or manager to close the sale because you have not been trained in product knowledge or any necessary selling skills. You will at least get half of the sale...

    Advice to Management

    Disclose and itemize 1st year expenses! All of them! You will hire fewer people, but the ones who come on board will be much more happy knowing what to expect. You will weed out people who this business is not right for. You will actually be able to help and guide new hires to a successful career. Less is definitely more!


  7. Helpful (1)

    Not great for Newbies

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Fort Lauderdale, FL
    Former Employee - Financial Advisor in Fort Lauderdale, FL
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Flexible hours - except be ready to work evenings (to meet clients and for training) which can lead to working 12 hours or more a day.

    Cons

    The start up cost is too high. They promise to pay your licensing fees, but you have to chase people to refund anything. They concentrate on variable products, when they should also concentrate on fixed products as well. They want you to sell their products and not other vendors - because if you do you are paid less commission -underlying product driven scheme. This company is for someone who has been in the industry and has a full client list already - but be warn. Once you leave, you do not take those clients back 'cause they make you sign a contract and you cannot even call them for over one year.

    Advice to Management

    Be upfront about all the expenses (they are at least $700 a month ) also, allow newbies to sell more products instead of their own. This will definately cut down attrition - but at the end they just want your family and friends business.


  8. Look Elsewhere for Employment

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Irvine, CA
    Current Employee - Financial Advisor in Irvine, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Benefits 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.

    Cons

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


  9. Helpful (2)

    Relentless pressure to sale and nothing but sale

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Bellevue, WA
    Former Employee - Anonymous Employee in Bellevue, WA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Big company. May provide opportunities for growth if some one can break through the initial stage. Should be a proper fit for ruthless seller.

    Cons

    Pressure to sale is unrelenting. Pressure is also to sale to friends and acquaintances - which can be awkward for some. Only thing that's important to supervisor and management is the number of sale calls and sales made. Low regard for any other factors.

    Advice to Management

    New employees should get more support in development rather than just make or break by numbers alone.


  10. Stay Away

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    No opinion of CEO

    Pros

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

    Cons

    No support from senior management. Very difficult to get started. Will be cold calling for your first year to get very few apointments


  11. Completely Unexpected Fees and start up costs

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in New York, NY
    Former Employee - Financial Advisor in New York, NY
    Doesn't Recommend
    No opinion of CEO

    Pros

    large firm, lots of people, good name, and thats all i can really say on the good side of this company

    Cons

    everything else in the company is bad. not transparent at all. too many fees invovled for start up, and management doesnt care about you

    Advice to Management

    be up front with everything that you explain to new hires and not give them a false sense of hope



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