AXA Advisors

www.axa-equitable.com/axa/careers/axa-advisors.html
Engaged Employer

AXA Advisors Reviews

Updated September 1, 2015
367 reviews filtered by
  • Any Location
  • Any Job Title
  • Full-time
  • Part-time
Employment Status

Reset

367 Employee Reviews

Sort: Popular Rating Date
  1. Helpful (9)

    Consultant

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook

    I worked at AXA Advisors full-time

    Pros

    Not a ton of positives about the experience. You will encounter managers who appear to be your best friend, but everyone has their own motives (they are required to hire LOTS of agents....and they get overrides on your production). I did learn some great sales skills through the trainings and you will learn a great deal about human behavior through client interaction. It is a job based on who you know, so if you don't have a network of 1000 people to call your first day it will be a tough road.

    Cons

    You will be required to sell your friends and family insurance products, even if it is not suitable. This is how you get paid "upfront" and make your "foundation". Most of the time you will be doing joint work with another advisor since you have no previous experience within the industry, this means you will split commissions (usually 25-50% of the case). There are no leads provided, everything you do comes from your network or your cold prospecting. If you're under 30 you'll find that your only options is to become an insurance agent....yes this is an insurance company! Selling propriety products gives AXA the ability to own all of your clients so you can't leave without having to start over at another firm. Compensation is pretty terrible unless you can sell large insurance policies or large annuities. Most of the time these large cases require people to invest all of their money in 1 product....highly unsuitable for most clients. Any CFP or independent advisor can verify this and once you see the fee's and surrender schedules you'll understand why you get paid so much. On that point, the broker/dealer split for AXA is 50/50. This means you get paid 50% of the true GDC on all products...even AXA-Equitable. If you look at independent shops your payout is 80-90 percent, so you can get paid more to work elsewhere. Managers get overrides on your productions to the tune of about 30%. No one will tell you this because they want you to think that splitting your commission is fair (they will ask for 25-50% of each case, then get 30% on the back end). You will pay a good amount of money to work at AXA. Yes that is right, you have to pay to work there after you contract. Roughly, $1000/month for the first 2 years which was never disclosed to me. You will have to buy your own equipment ($1200 computer, office supplies, software, printer). Everything in the office is usually broken and no one cares to fix it, more equipment to buy on your end! Turnover is extremely high. In the 4 years I worked at AXA I saw over 55 advisors churn through the system. There are only 3 advisors who have been there over 5 years....don't confuse managers with advisors. Managers stick around cause they hire and absorb clients from the drop outs...its highly lucrative to become a manager and churn advisors every 2-3 years. I would estimate the turnover rate within the first 3 years is 95%....evidence confirmed by the fact the office is all new hires out of college. No one sticks around there unless they sell their sole to become management. I would never recommend anyone using AXA for their financial planning. They will tell you about their open platform, then stir you into a high fee/high commission insurance product. I would ask what the exact compensation is on each product (6.5% on annuities - but you only get 3.25% based on the broker/dealer split and 55% of the first year premium on life insurance). I would then ask the advisor how much of their own money they have in each product and ask them to prove it with statements....they really hate when people ask what they do with their own money because they of course use the low fee/commission options that are most suitable. If you are desperate for a job and don't mind selling your friends and family then give it a shot. No one will help you unless you can bring in a client, that is the hardest part of this industry (finding qualified prospects who trust you). GOOD LUCK!


  2. Helpful (3)

    Financial Advisor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Professional in Bala Cynwyd, PA
    Former Employee - Financial Professional in Bala Cynwyd, PA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at AXA Advisors full-time (More than a year)

    Pros

    Ability to sell both insurance and manage retirement funds. I believe this product mix allows for complete problem solving when working with a customer. The AXA name carries some level of respect: the company has not endured the financial strife that others in the industry have.

    Cons

    Costs: A never ending cascade that constantly chips away at your ability to become fully self sufficient. Office space, IT support, internet, liability insurance, senior management support, etc. Absence of Investment/Support: you are regaled with stats on how associates that are with the company for 3 years are the highest in the industry. That's great unless you're in year 1 or 2. There is a culture of "you're on your own" so don't expect any help from established advisors to work their book to pick up some scraps to help offset what you're doing on your own. You will be pushed hard to use your network of family, friends, and former co-workers to sell product to but keep in mind that after you leave, those customers get absorbed by the firm. This is straight commission so you will be worked hard and no one will care if you don't make it...another crop of young people sucked in by the promises of wealth and the ability to be their own boss will arrive. Ask why their are so many empty cubicles for such a successful firm. It's not an expansion it's churn and burn. If you have friends in the industry ask them about this place: it's positioned as a personal touch company interested in your success but they are no different that anyone else. If you are a trust fund kid or someone that has minimal personal expenses it may be worth a shot.

    Advice to Management

    Actually back up the talk about the "support" and being "invested in our success". Partner a senior associate to mentor a new hire and provide actual experience and the ability to make some small commission $.


  3. New HIre

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at AXA Advisors full-time

    Pros

    Change of pace with a great management team

    Cons

    one hour away from home


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (1)

    financial advisor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook

    I worked at AXA Advisors full-time

    Pros

    If you want to sell products to teachers and other public employees it's a great environment

    Cons

    Very much top down mgt. Little teamwork. Mrs are looking out for their own production goals

    Advice to Management

    Support traditional advisors. Change "on-boarding" process. Use team approach for selling, not by chance but as policy. Treat advisors with respect, not expendibles


  6. AXA Advisors

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great management, professional yet casual work environment, friendly co-workers, helpful attitudes, great benefits, room for advancement and growth opportunities

    Cons

    Can't say I've run into any cons yet.


  7. Helpful (2)

    Great place if you work Hard

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in San Diego, CA
    Current Employee - Financial Advisor in San Diego, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at AXA Advisors full-time

    Pros

    I've been in the industry for over a decade and have not seen a better Firm to grow with. The company has great products and allows you to focus on whatever is best for your client. The pay plan is really good for smart, hard workers. The local agency does has a lot of mentors to help new advisors. All I can say is that you have to be passionate about helping people grow their wealth and protect assets. If you are smart, passionate and willing to go out and work there isn't a better career.

    Cons

    First couple of years there is a lot to learn. Licenses can be difficult.

    Advice to Management

    Don't hire salespeople and focus on hiring people that get exciting about building a business


  8. AXA

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in San Diego, CA
    Current Employee - Anonymous Employee in San Diego, CA

    Pros

    Great Career opportunity / Good managers

    Cons

    hard work to get started, but pays off at the end


  9. Helpful (2)

    Financial Advisor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Consultant in San Diego, CA
    Current Employee - Financial Consultant in San Diego, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at AXA Advisors full-time (More than a year)

    Pros

    A lot of very smart people as colleagues (lawyers, CPAs, CFPs) Excellent pay structure if you are good with people and willing to actually work hard Very flexible schedule Management seems to really care about the advisors

    Cons

    This is NOT a good place to work if you are timid, shy, or lack confidence in your abilities Would love to get more company-generated leads, but that's probably why they pay so well versus banks and other competitors

    Advice to Management

    Consider moving training to much earlier or later in the day so that it doesn't conflict with prospecting time. Otherwise, keep up the great work!


  10. Helpful (1)

    Sales, is not financial advising

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Intern in New Rochelle, NY
    Current Employee - Intern in New Rochelle, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at AXA Advisors (Less than a year)

    Pros

    Could be a DECENT place to start a sales job

    Cons

    It's all about Prospecting. YOU HAVE TO PAY FOR YOUR LICENSES, the company does not sponsor you fully. Commission structure the only way you will make a living.

    Advice to Management

    Awful management, transparency is one thing, but it should never lead to humiliating or belittling


  11. AXA Advisors

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

    Pros

    great training, potential to help alot of clients if you win their trust

    Cons

    not the right environment if you are adverse to cold-calling, frat house

    Advice to Management

    lead support



Showing 367 of 434 reviews
Reset Filters
RSS Feed </> Embed

Your response will be removed from the review – this cannot be undone.