AXA Advisors

  www.axa-equitable.com
  www.axa-equitable.com
There are newer employer reviews for AXA Advisors

 

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  • 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

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

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  1. 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
  2.  

    AXA Advisors- OK intern place if you like sales

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

    I have been working at AXA Advisors

    Pros

    Ability to learn about financial products.

    Cons

    No respect given to subodinates.

    Advice to ManagementAdvice

    Pay your interns and give them real work. Not make caller lists only!

    No opinion of CEO
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