AXA Advisors Financial Advisor Reviews | Glassdoor

AXA Advisors Financial Advisor Reviews

Updated December 27, 2017
181 reviews

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Financial Advisor

3.4
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AXA Advisors Chairman and CEO Henri de Castries
Henri de Castries
72 Ratings

Employee Reviews

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Pros
  • You can make a lot of money doing very good work by working for AXA (in 18 reviews)

  • entrepreneurial, if you want to make a lot you can (in 18 reviews)

Cons
  • no base salary is annoying really (in 23 reviews)

  • This of course is after you have recruited your friends and family to the company (in 22 reviews)

More Pros and Cons

  1. Helpful (1)

    "Great career opportunity for talented individuals with incredible work ethic."

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

    I have been working at AXA Advisors full-time (More than 10 years)

    Pros

    Control your future.
    Help individuals and business owner clients achieve long term financial goals.
    Unlimited income potential.
    Flexible schedule.
    Great team environment.

    Cons

    I do not have any coms. It has been a great 20+ years with incredible income potential. This is a great place for those individuals with the work ethic and a long term view of building a great career.

    Advice to Management

    Keep being great coaches


  2. Helpful (1)

    "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in New York, NY
    Current Employee - Financial Advisor in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at AXA Advisors full-time (More than 3 years)

    Pros

    high upside, autonomy, great people, excellent sales training

    Cons

    A lot of hours, demanding schedule if you want to earn a large compensation, eat what you kill type of place.

    Advice to Management

    None

  3. Helpful (8)

    "Nightmare"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Senior Management
    Former Employee - Financial Advisor
    Former Employee - Financial Advisor
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    None. The worst job I have ever had by far.

    Cons

    Please do not make the same mistake I did. There is a reason AXA is a global fortune 500 company, but not a US fortune 500 company. Americans are smart enough to not buy into their lies. You may get a few people who feel sorry for you to buy a policy at first, but then it's all down hill. A few things you should know before working for AXA: no salary, over worked, no benefits, unprofessional managers, and micro managed. Staff avoid any questions about when salary starts, commission, etc until you have invested a thousand dollars of your own money. During the weekly training calls they call people out individually on how little they have sold. I do not know of any other company that thinks embarrassing their employees is effective. A manager who had never met me chewed me out over something I said over the training call with everyone listening. Just one example of the unprofessionalism. You will spend a thousand dollars of your own money, which is not refunded if you do not meet all of their requirements in the hazing phase. They tell you that you will learn about securities, but really they just push you to push your friends and family to buy term life insurance policies because they benefit AXA the most. Definitely be prepared to hardcore sell to all of your friends and family and be ready to lose some friends. They sell you on a dream job, but once you begin they make you feel trapped because of the money you have already invested and cannot get back. They lied about commission, telling me I would receive 100% of what I sold when in reality it is less than 1%. It's a work hard not smart career. The typical pyramid scheme where everyone over you is more concerned about there own book of business than helping you learn and build your own. There are much better insurance companies out there to work for that will actually coach and mentor you. If you want the same experience without costing a thousand dollars I suggest working for another pyramid scheme company that does not start you off a thousand dollars in the hole.

    Advice to Management

    Pay employees, even if it's just $5 an hour OR pay for all of the testing, study material, fingerprints, etc. Be upfront about how salary and commission work. Treat employees with respect, not like they are tools for you to profit from.


  4. Helpful (1)

    "Sales position / no salary/ not much planning involved"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Jersey City, NJ
    Former Employee - Financial Advisor in Jersey City, NJ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Good sales training & resources

    Cons

    Only low base salary after 6 months if you acquire certain new accounts. Sales pressure every day and continue in this industry

    Advice to Management

    Give more growing time for young people before pressure them to produce.


  5. "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Clifton Park, NY
    Former Employee - Financial Advisor in Clifton Park, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    The ability to broker a variety of financial instruments.

    Cons

    Lack of help from management specifically early on when needed most. Managers are to busy growing their practice than helping you close business.

    Advice to Management

    Don't hire so many people before your able to help you "team" succeed.


  6. "Financial Advisor AXA"

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

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

    Pros

    Productive work place, helpful management, and good training programs

    Cons

    Name recognition, have to pay for equipment out of salary


  7. Helpful (11)

    "Great opportunity but there are better ones out there"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor
    Former Employee - Financial Advisor
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Great work environment. Excellent office, management is superb. They really make you want to drink the kool-aid and it sounds perfect on paper. Also, provides you with the licenses you need to go do something else. Really excellent leadership and if you succeed its a path to early retirement. Some high-level producers make upwards of over a million per year and don't work nearly as much as other people making the same. It really does show promise as a career and those who make it do really well in it. If you don't have a job out of college and you're out of options this is a great place to start. Especially if you want a series 7 license.

    Cons

    Here we go, I'm going to summarize the cons without sounding nit picky. First off, it's all commission (not out of the ordinary in this industry) therefore it costs literally nothing for them to hire you. They pay you a $1500 stipend and then the rest is up to you. They'll say to you that you can market yourself in "anyway you want" but in the end it's a smile and dial business. You'll be dialing till your fingers come off even tho they say you can use other forms of marketing. They stress "always be closing" like there's no tomorrow so you'll be as pushy as possible to the people you talk to on the phone. They brag they're better than Morgan Stanley or Wells Fargo when those companies actually have structure for their new employees. They say "you can work whenever you want" but yell at you if you try to leave before 8pm. Yes the hours are 8-8 and they expect you to work saturdays too. Most managers will make you go on the phones in the first day or two of you starting, meaning you're selling products you really have no clue about. The ethics of the business are also questionable. Because your only goal is to set the meeting you need to do it by any means necessary and I am not going to lie it was pretty fun getting someone to commit to something when you know they don't want/need the product although if you feel uncomfortable misleading people this isn't the right career choice for you. Don't let the name "Financial Advisor" fool you, that position really means "insurance salesman". And if you thought cold calling was a bad business practice theres a practice they use called blind dialing where you take a companies phone number and copy it into an excel file and dial numbers from there. These are only some of the experiences I had, but really it's different for everyone.

    Advice to Management

    My first advice would be to pay a small base salary with reduced commission. Even 500 a week which is almost poverty in New York City. It would get more people to stay and they'd feel motivated to produce more when they see a taste of the pie. Next, I wouldn't stress so much on cold calling as it's outdated and proven to be ineffective. Finally, I know they success stories are essential to keeping PEP people in the program but it would be far more effective to work on the main reason people fail LACK OF TRAINING. You have 22 year-olds calling on the phone about something they don't even know about. Find ways to revolutionize the business instead of utilizing outdated business practices from the 80s. Maybe make two programs, an investment track and insurance track instead of locking every new employee in the same business. Finally, DON'T TEACH COLD CALLING AS THE ONLY METHOD, there are other ways to utilize this business and companies around the world are employing them. Don't pretend like you're utilizing them, actually support them. Stop with the 300 dials mantra and try to improve the system instead of exploiting college grads for free labor.

  8. "Good for those who can do it"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor
    Former Employee - Financial Advisor
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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

    Pros

    Work culture is great, people want to help you. If you like to travel around the city and meet people this will be a great job for you. Can make your own schedule essentially.

    Cons

    If you don't feel comfortable monetizing your relationships, this isn't the job for you. This wasn't the ideal type of business for me in this point of my life.

    Advice to Management

    Keep up the mentality of coaching people, it's encouraging to young kids out of college.


  9. Helpful (1)

    "Definitely no shining job"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Junior Financial Advisor in New York, NY
    Former Employee - Junior Financial Advisor in New York, NY
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at AXA Advisors (More than a year)

    Pros

    entrepreneurial, if you want to make a lot you can
    fun-ish work environment
    No supervision

    Cons

    No support whatsoever
    Not great ethics
    Have to pay for a lot of stuff

    Advice to Management

    Dont position this as a financial planning job. Its a sales position and a very non-skill requiring one at that


  10. Helpful (2)

    "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Los Angeles, CA
    Current Employee - Financial Advisor in Los Angeles, CA
    Doesn't Recommend
    Negative Outlook

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

    Pros

    High Earning Upside, Office located in highly competitive area

    Cons

    Work-Life balance is terrible for incredibly low pay initially. The base salary + commission structure is a scam, and the hiring managers are known for lying about pay structure and work expectations.

    Advice to Management

    Be Transparent. Quite Lying.