AXA Advisors Reviews

Updated August 18, 2014
Updated August 18, 2014
286 Reviews

3.2
286 Reviews
Rating Trends

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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)

  • 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

54 Employee Reviews Back to all reviews

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  1. 2 people found this helpful  

    Tough to breakeven

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Professional
    Former Employee - Financial Professional

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

    Pros

    They hire virtually anybody out of college as there is virtually no overhead per employee.

    Cons

    It is near impossible to do what is right for the client and still earn a decent living in the first 5 years. Annuity products are pushed hard from the top down.

    Advice to ManagementAdvice

    Align incentives with doing what's best for the clients, do a better job of selecting and supporting new advisors.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2. 4 people found this helpful  

    Good learning experience, wouldn't recommend

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

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

    Pros

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

    Cons

    Commission 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 ManagementAdvice

    It'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.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3.  

    Completely Unexpected Fees and start up costs

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

    I worked at AXA Advisors

    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 ManagementAdvice

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

    Doesn't Recommend
    No opinion of CEO
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  5. 2 people found this helpful  

    Relentless pressure to sale and nothing but sale

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Bellevue, WA
    Former Employee - Anonymous Employee in Bellevue, WA

    I worked at AXA Advisors

    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 ManagementAdvice

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

    Doesn't Recommend
    No opinion of CEO
  6.  

    Stay Away

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

    I have been working at AXA Advisors

    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

    Doesn't Recommend
    No opinion of CEO
  7.  

    Look Elsewhere for Employment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Financial Advisor  in  Irvine, CA
    Current Employee - Financial Advisor in Irvine, CA

    I have been working at AXA Advisors

    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.

    Doesn't Recommend
    Disapproves of CEO
  8. 2 people found this helpful  

    AXA Advisors, not a job for most

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

    I have been working at AXA Advisors

    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 ManagementAdvice

    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!

    Doesn't Recommend
    Disapproves of CEO
  9. 1 person found this helpful  

    Not great for Newbies

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

    I worked at AXA Advisors

    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 ManagementAdvice

    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.

    Doesn't Recommend
    Disapproves of CEO
  10.  

    Good Ole Boys Network

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

    I have been working at AXA Advisors

    Pros

    Little oversight, freedom to control hours.

    Cons

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

    Advice to ManagementAdvice

    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.

    Doesn't Recommend
    Disapproves of CEO
  11.  

    You need to have a large network of teacher friends

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Financial Advisor  in  Fort Worth, TX
    Former Employee - Financial Advisor in Fort Worth, TX

    I worked at AXA Advisors

    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 ManagementAdvice

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

    Doesn't Recommend
    No opinion of CEO

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