AXA Advisors

  www.axa-equitable.com
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284 Employee Reviews (View Most Recent)

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Intern

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

Pros

Rotation, flexible work hours, very nice people.

Cons

Pretty much the only path you have as an option after the internship is to become an insurance salesman.. LOTS and LOTS of cold calling.

Doesn't Recommend
Neutral Outlook
No opinion of CEO

Other reviews for AXA Advisors

  1. 6 people found this helpful  

    Big upside for right entrepreneur if you can navigate politics and understand management incentives working against you

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

    Pros

    Entrepreneurial. Unlimited earnings potential, work as much or as little as you like, you're basically a small business owner. Open architecture, advisory and brokerage platform through LPL Financial (largest independent broker/dealer). Insurance products, in addition to AXA Equitable Life & Annuity can be sourced through other companies (MetLife, Genworth, Allianz, Prudential, Hartford, Genworth, WilliamPenn, Banner, etc). *See advice to management*

    Cons

    "Eat what you kill" culture. Zero base salary, 100% commission. You need to find your own clients/prospects generally through old calling. Unless you have an established network that can provide sustainable/consistent lead sources, but that is the exception not the norm. Highly political management is all sales guys who are given incentives to increase their override over what's necessarily right for the advisor or client. *See advice to management.

    Advice to ManagementAdvice

    District managers are incentivized to hire quantity over quality, and push proprietary products. This results in managers hiring whoever can breath, throwing them against the wall and seeing who sticks. Ultimately this results in a lot of people failing out of the business, but this is ok for managers because their compensation is heavily tied to first year proprietary production, where new advisors burn through their family, friends and network, and worst case are "cheap labor" cold calling for other advisors, which is justified as joint work to learn from more experienced advisors. Also managers push option 1 commissions where a higher one-time commission is paid out but no future commissions/fees are paid out because their override is tied to the bigger number and weighted more on new advisors than experienced advisors. This is bad for the advisor and client long-term: there is no longer an incentive for the advisor to service that client and the advisor is hurting himself by living sale-by-sale instead of growing a reoccurring revenue stream. It should be management goal for each advisor to build a practice that generates a reoccurring revenue stream - this will incentivize the advisor to stay longer and to service the client better. The advisor will have a more steady predictable income source and have a more valuable practice that can be sold at retirement to another advisor because the reoccurring revenue can be valued.

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

    Decent so far

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    *everyone is friendly and wants to see you do well
    *managing team does well with pre contracting meetings to help you see what's in store when you pass all your licensing exams
    *they don't bs with you, they tell you straight up that this is a difficult profession, you get out of it what you put in

    Cons

    *have you pay for your tests up front (reimburse after you contract)
    *paynwont be great to start
    *at the beginning the only way you'll make decent money is by going through your natural market

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