AXA Advisors

  www.axa-equitable.com
  www.axa-equitable.com
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AXA Advisors Reviews

Updated September 26, 2014
Updated September 26, 2014
292 Reviews
3.3
292 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
AXA Advisors Chairman and CEO Henri de Castries
Henri de Castries
78 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)

  • Creating your own work schedule/ Flexible Hours (This is not a 8-5 job) (in 13 reviews)


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

  • And its commission based salaries for the most part so good luck building up that book of business to gain a decent earnings (in 6 reviews)

More Highlights

54 Employee Reviews Back to all reviews

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  1. 1 person found this helpful  

    not as expected

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Fifnancial Advisor  in  Edison, NJ
    Former Employee - Fifnancial Advisor in Edison, NJ

    I worked at AXA Advisors part-time for more than a year

    Pros

    work own hours,n ice trainees

    Cons

    lack of training, cold calls all the time

    Advice to ManagementAdvice

    better training

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    Only for financial professionals who want to make this their lifelong career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  New York, NY
    Former Employee - Anonymous Employee in New York, NY

    I worked at AXA Advisors full-time

    Pros

    -My team had good sales training
    -Opportunity to make a lot of money, if you work hard enough or get lucky

    Cons

    -Experience at the company can vary widely based on which team you're on
    -Office, desks, cubicles, bathrooms are pretty beat up
    -Risky pay structure, you risk having to pay back money made if your sale doesn't stick
    -Ambiguous organizational structure

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3. 2 people found this helpful  

    Decent Products - Terrible Management/Business Practices

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor  in  Woodbridge, NJ
    Former Employee - Financial Advisor in Woodbridge, NJ

    I worked at AXA Advisors full-time for more than a year

    Pros

    They train you quite a bit on the axa annuity and life insurance products. They are not so apt to train you in asset management (less revenue producing). They are good at ensuring management makes as much money from you as possible before you struggle and fall out of the business.

    Cons

    They are a greedy company. Management is all about their bottom line, not about producing strong all around producers. They will make you target your family as opposed to setting up a support structure around external sources. THEY WILL HOUND YOU AFTER YOU LEAVE THE COMPANY FOR ANY PAYMENT FOR POLICIES LAPSED EVEN 4 YEARS AFTER I LEFT THE COMPANY. I am not a person who would have someone buy a policy to drop it right after I left the company, but they have had these experiences in the past. BE AWARE - THEY WILL SEND LAWYERS AFTER YOU REGARDLESS OF YOUR TIME AWAY FROM THE COMPANY. I CANNOT RETAIN CLIENTS WHEN I NO LONGER WORK FOR THE COMPANY! It is the company's responsibility to retain clients after their costs and business practices force you out of the business.

    Advice to ManagementAdvice

    Stop harrassing ex-employees to pay for the inability of your teams to stop attrition. The most important thing for business is a positive word of mouth. Clearly, that is not the thought process running through the minds of management. Very upsetting, and frustrating as someone who came in out of college and thought I was working for a company that cared...

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5.  

    Better off coming here if you are already experienced

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor  in  New York, NY
    Former Employee - Financial Advisor in New York, NY

    I worked at AXA Advisors full-time for more than a year

    Pros

    Great for self starters and you get sponsored for your series 7, 66, and life and health giving you the ability to do everything from insurance to managed money.

    Cons

    Management gets the most comp on Vul's and Va's so the training is specifically geared to those products and services if you want to call it training at all.

    Advice to ManagementAdvice

    Need to provide more and better training to new reps

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6. 1 person found this helpful  

    Highly unstable pay

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

    I worked at AXA Advisors full-time for less than a year

    Pros

    There's no limit to how much you can make in this industry. The longer you stay in this company, the higher the chances of succeeding (3 years+)

    Cons

    One can go on a a whole year with only one client, which can make them a few hundred to thousands. You will need to be able to support yourself for months at some times.

    Advice to ManagementAdvice

    Need newer and innovative ways to prospect.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  7.  

    Unless you have experience...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor  in  Wilmington, NC
    Former Employee - Financial Advisor in Wilmington, NC

    I worked at AXA Advisors for more than 3 years

    Pros

    I can't think of any.

    Cons

    No training
    Exhorbitant monthly fees
    Mandatory LPL subscription
    Product portfolio that is poor

    Advice to ManagementAdvice

    Invest your time in a quality training program and not simply throw the new recruits to the wolves expecting them to sell your overpriced variable annuities let alone variable life. Unless the Branch Manager is invested in their success, new recruits will fail. As for the DM's...let them recruit, develop, and manage new recruits. Don't hold DM's to both a recruiting and personal production requirement.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Cut-throat environment, not much learning as an intern

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Intern  in  New York, NY
    Former Employee - Intern in New York, NY

    I worked at AXA Advisors as an intern for less than a year

    Pros

    Great office space, in the heart of NYC, and a few good people who want to befriend you.

    Cons

    Cut throat environment, everyone is out to get promoted. People are generally uninterested in you, unless they can see that they can step on you to further their own growth and be noticed by the senior CFPs. As an intern, you don't really learn much, so you shouldn't let this go longer than a summer.

    Doesn't Recommend
    Disapproves of CEO
  9.  

    Terrible Managing Principal and horrendous training

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Professional  in  Troy, MI
    Former Employee - Financial Services Professional in Troy, MI

    I worked at AXA Advisors full-time for less than a year

    Pros

    Paid (minumum wage) four week training

    Cons

    Sitting eight hours a day training only on a computer.
    Phone calling eight hours a day required.
    only one eight hour day to have managing principal go on appointments with me in three weeks.
    Too many agents (22) for one managing principal to work with.

    Advice to ManagementAdvice

    Get more managers to help train agents.
    Do not shout at agents when they ask a question about the Gryphon system (Do not call lists). It is important to follow compliance and avoid a $11,000 fine to the agent and repercussions to the company.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 5 people found this helpful  

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

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

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

    Pros

    There 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.

    Cons

    It 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 ManagementAdvice

    Do 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.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  11. 1 person found this helpful  

    Limited direction, poor management.

    Former Employee - Financial Advisor  in  Peoria, IL
    Former Employee - Financial Advisor in Peoria, IL

    I worked at AXA Advisors full-time for more than 3 years

    Pros

    Excellent product brokerage division. Senior employees who have been in the industry for decades and built successful careers can be an excellent resource, but it is self-initiated.

    Cons

    Managers unable to retain quality employees, as the training and assistance is sub-par. Limited potential as a new advisor.

    Advice to ManagementAdvice

    Re-evaluate the RBG program as a whole.

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