AXA Advisors

www.axa-equitable.com/axa/careers/axa-advisors.html
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  1. 1 person found this helpful  

    Watch out!

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

    I have been working at AXA Advisors

    Pros

    Like others have said, it is a good place to get licensed I suppose. It is a one sided sales approach, lots of insurance. old, stable company that is helpful in the tumultuous times.

    Cons

    When I left, they are trying to collect on almost $20,000 of commissions I earned because I did not stay through the life of the insurance product.
    Do NOT, I repeat Do NOT take advance commissions, which is industry standard. I can not imagine that people have to write checks to leave other firms.
    Policies are clear as mud.

    Advice to ManagementAdvice

    Even my manager did not understand the comp plan, and we did not have a BOM to help clearify the plan.

    Doesn't Recommend
    No opinion of CEO
  2.  

    Horrible, the management is only looking to sell at all cost to anyone

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Financial Consultant in Miami, FL
    Former Employee - Financial Consultant in Miami, FL

    I worked at AXA Advisors

    Pros

    Great learning opportunity. They offer a lot of training and they have excellent systems to do financial analysis and illustrations for clients. It is a great way to get experience and then LEAVE!

    Cons

    They do not offer a base salary. You have to pay for all your expenses (including lap top, marketing materials and any other expense that you might incur to sell). Even though they sell it as if you are your "own boss" you have to go to tons of meetings so that you learn how to counter clients' ojectives, get referrals (you have to sell, sell, sell to everyone and anyone).

    Doesn't Recommend
    Disapproves of CEO
  3.  

    Very Dishonest company

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

    I worked at AXA Advisors

    Pros

    they reward if you make them a lot of money, but thats hard to do

    Cons

    hard to get started, once started its still hard to keep going, always looking for more people to get money from, have to cold call, 12 hour days

    Advice to ManagementAdvice

    It should be so hard to get clients

    Doesn't Recommend
    No opinion of CEO
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  5. 15 people found this helpful  

    This Should Be Your Last Choice of Career Agencies

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Financial Consultant in Atlanta, GA
    Current Employee - Financial Consultant in Atlanta, GA

    I have been working at AXA Advisors

    Pros

    - Benefits are decent if you can stay around long enough to take advantage of them
    - The flexbility is incredible
    - Wealth building is among the best in the industry. Very comprehensive but does have long term vesting requirements.

    Cons

    There are numerous downsides to work in the AXA career system, let me debunk some of the myths you will hear recruiters talk about:

    - Your compensation is what you make of it..........flat out pitch to entice new recruits into the "exciting" world of financial based commission sales. Truth be told, you can earn a nice living for yourself if you make it long enough to see some of the "trails" and "residuals" hiring mangers will talk about. There is no way around it, you WILL NOT MAKE MONEY at AXA during your first 3-6 months. Should you stay the course and pass the Series 7 you will only be given 4-8 weeks of "training allowance" for your efforts. The "training allowance" came about as a result of AXA losing a lawsuit in CA because the majority of their new advisors were not earning a wage equivalent to minimum wage, you read that correctly, the majority of new associates have not been earning an amount equal to minimum wage. You pay over $1000 in licensing fees, burn through your contacts (nope, no leads provided either!!!), buy into the AXA system, and work 60-70 hour weeks trying to earn minimum wage at best.

    - No stability and home office or local levels. All hiring managers love to talk about stability and how AXA is so great. They are only telling you 1/2 truth, no, we did not take bail-out money. Why? Because we are headquartered in France and not eligible. What did we do instead? Took bail out money from AXA home office in France. Stability at the local level? Thats a joke. Wholesale district and branch manager turnover across the company. The majority of the talent at the agency and district level has fled for greener pastures over the past 12 months as a result of AXA's failure to adapt and change with the times. The only thing consistent at AXA is increasing expenses moved to the sales force, high associate turnover and non-competitive product offerings (detractors will argue that we have an open architecture...................) we do have the ability to sell outside of AXA if we are personally given permission from the agency manager, good luck!!! The agency managers are paid proprietary overrides at a rate nearly 10x what they receive for non-AXA business. Where is the incentive to approve your request? If they do approve the request, any non-AXA business you sell will not count towards benefits validation or wealth building. This is a publicly traded company and treated like one. In fact, they are currently in the process of transitioning a new CEO. The former CEO was excellent and did a wonderful job of navigating AXA through an incredibly difficult financial time, his reward? move over buster here comes the new guy, with new ideas, and new ties to improve the stock price.....how will he do it? Cut costs (i.e. cut salary and payouts) and drive proprietary business sales (making a difficult request even more challenging!!!)

    - AXA is one of many career agencies that introduce new advisors into the business. Do your homework and don't be afraid to interview with other firms, especially those who actually invest in new associates. I would recommend Guardian, MetLife or Mass. I know that I will get flack for mentioning these firms but I really don't care. Don't let any recruiters fool you or tell you differently, we all do effectively the same type of business, we just go at it different ways. You will sell life insurance and tons of it if you want to succeed at AXA.

    In closing, I have been a high level producer with AXA for some time and have made it through the challenges described above. My personal wealth is so tied into the AXA value prop that I have no choice but to stay. However, I have not, can not and will not ever refer anyone to work with the firm. I would challenge ANY hiring manager to argue or challenge the points outlined above. I have been pleased with my AXA experience but I doubt you will be so lucky.

    Advice to ManagementAdvice

    As a current financial consultant I would recommend that they reinvest in the field sales force and move towards a more sustainable hiring and development model, as opposed to a "call everyone you know and then be out of the business in 12 months" type of hiring model.

    Take your own advice: I can't tell you how many times in my career I have been told to invest in my business and think like a business owner. Why doesn't AXA senior management invest in field sales force? Start offering the DSF a true salary option to help smooth out some of the ups and downs and don't hold out a legally mandated minimum wage as a "training allowance" to help get them started in the business. I have personally heard a member of the AXA senior management committee (Yes, the NYC senior management committee, which tells you what kind of producer I am to have access to these persons!!!) complaining about being legally forced to offer new associates a training salary after they pass the Series 7 exam. This resentment is readily apparent in their field communications.

    Most importantly, VALUE PRODUCERS OF ALL LEVELS, as they help make the company what it is. Losing 9 out of 10 people that start and positioning yourself as the "chosen place to build a career" is flat-out misleading. If you want to be the best, then invest in your business like you mean it!!!

    Doesn't Recommend
    No opinion of CEO
  6.  

    Con Job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in Scottsdale, AZ
    Current Employee - Anonymous Employee in Scottsdale, AZ

    I have been working at AXA Advisors

    Pros

    Good Training and proper work atmosphere.

    Cons

    100% commission scam + being pimped out (having to split whatever small commission with your managers for the first 2-3 years).
    Also have to pay every business expense from your own pocket!

    Advice to ManagementAdvice

    There must be a reason why they are not growing: give employees a chance with a base and much more time to validate contracts.

    Doesn't Recommend
    Disapproves of CEO
  7.  

    not a good company

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

    I worked at AXA Advisors

    Pros

    they will teach you the business and get u all the stuff you need to get started in the financial world

    Cons

    They will cheat you out your pay. esp if you are a new comer and dont know much about how you get paid. They just want your to sell and not care about the clients

    Advice to ManagementAdvice

    be better people... you will make more money if you just stop focusing on the greed

    Doesn't Recommend
    Disapproves of CEO
  8.  

    Run after you get your licenses!

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

    I have been working at AXA Advisors

    Pros

    they sponser your certifications for your 7 and 66

    you have a decent choice of joint work partners that you can choose to work with

    the location of the office is convenient to get to meetings

    training provided if you are interested about insurance and insurance products and how to sell them

    if you are straight out of school, this may be a job to learn

    Cons

    -Everyone is tryign to steal eachother's businesses
    -Managers encourge you to download attorny lists thats been called again and again so that you may practice on your rebuttals
    -Have to pay for your own computer, software rentals, and all marketing materials.

    Advice to ManagementAdvice

    Ethics Ethics Ethics

    Doesn't Recommend
    No opinion of CEO
  9. 2 people found this helpful  

    working as an Axa Advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Financial Professional in San Francisco, CA
    Current Employee - Financial Professional in San Francisco, CA

    I have been working at AXA Advisors

    Pros

    If you like Axa Equitable as a company, than Axa is the place for you. If you want to be a more well rounded advisor and think outside the box, it is not.

    Cons

    Working at Axa Advisors is best described as working as a sales rep for Axa Equitable. The advisors have the ability to sell a multitude of financial products, but every incentive in the world to sell only Axa Equitable products, which are obviously not the most appropriate in every circumstance.

    Advice to ManagementAdvice

    My advice to management is that they treat thier employees better. Don't nickel and dime them as much as you do.

    Doesn't Recommend
    No opinion of CEO
  10. 4 people found this helpful  

    Don't touch axa with a 10 foot pole!

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

    I worked at AXA Advisors

    Pros

    If you're a cold calling machine...prepare to be a millionaire!
    Of the less than 1% who make it successfully the contracts and comissions are some of the highest in industry.
    They have joint partners and experts in all types of planning.
    They have advisors and offices everywhere!
    The experienced advisors are some of the best planners in the industry,very professional and polished.
    Great place for advisors who come with a market already and can easily achieve goals,you will make more money here.

    Cons

    Poor management
    Pre contract period where you give all your natural market with no comitment from axa
    No pay..at all...must put up over $500 out of pocket for exams..
    Spray and pray environment........interview 1000 people...5 crazy people join..cold call till you die..see dozens come and go..demoralizing...
    Stressful environment with management breathing down your neck for calling hours, 15 appts etc..
    If you do not raise between $3k to $7k in first 6 months...you're most likely done..and they keep your natural market will be passed on to another senior adviser..they claim work hours are flexible..but expect you there 8am to 8pm every day of the week..including Saturday...
    Many other companies are far more competitive than Axa in terms of initial compensation and you can get a contract right away somewhere else...people do not buy companies..they buy you
    One of the worse places for new people to start as an advisor

    Advice to ManagementAdvice

    If you offered a small base for the first few years with comissions,your company would interview and retain higher quality people. Which would mean less time wasted by mangers interviewing 1000 low quality people to find gem. As well, this would greatly improve the reputation of the firm as management would be more selective with candidates and would make being an axa advisor something to aspire. As well, the gorilla campaign cannot erase the bad taste left in the mouths of thousands of failed pre contract advisors and their orphan clients who were their natural market. What a terrible system..even if it makes you profitable. Simply attract good people with nice initial compensation and fire those who do not meet expectations.

    Doesn't Recommend
    Disapproves of CEO
  11. 2 people found this helpful  

    Very unethical.

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

    I worked at AXA Advisors

    Pros

    Freedom to work how and when you want.
    Very little to no micro-management.
    Incredible amount of earning power if you stick with it 5+ years or have people working under you.

    Cons

    The interviewer completely misrepresents the position as being a financial advisor that helps people with their finances. In reality you are a sales person that will end up mainly selling life insurance to people who don't need it.
    Very unethical sales strategies.
    The best way to make money is basically lie (mostly by omission but sometimes outright) about the products features, and if you are an ethical person you will go broke from paying gas and food expenses.
    No help and very little pay first 2 years.
    More of a fraternity than office.
    They call it a multi-level marketing strategy, which are fancy words for pyramid scene. Your boss will make money on everything you sell.
    Working there will give you absolutely no skills or experience that will be transferable to another employer.

    Advice to ManagementAdvice

    Represent the job accurately to new recruits. Explain that it is a sales position. Monitor sales practices more closely (stop employees lying to get a sale).

    Doesn't Recommend
    No opinion of CEO

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