There are newer employer reviews for AXA Advisors

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

299 Other Employee Reviews for AXA Advisors (View Most Recent)

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  1. 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
  2. 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
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