AXA Advisors Reviews in Los Angeles, CA | Glassdoor

AXA Advisors Los Angeles Reviews

Updated August 5, 2017
49 reviews

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Los Angeles, CA Area

3.2
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AXA Advisors Chairman and CEO Henri de Castries
Henri de Castries
21 Ratings

49 Employee Reviews

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Pros
  • You can make a lot of money doing very good work by working for AXA (in 19 reviews)

  • Ability to make A LOT of money (paid for what you do) (in 18 reviews)

Cons
  • Lying to clients, friends and family that trusts you (in 22 reviews)

  • No base salary until you make 15 applications and/or 3,000 PCs (production credits) (in 21 reviews)

More Pros and Cons

  1. Helpful (4)

    "great"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Adviser in Orange, CA
    Current Employee - Adviser in Orange, CA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    work for yourself, on your own hours, supportive team

    Cons

    commission based is what pays best salary not so good

    Advice to Management

    keep supporting new advisers


  2. "Work for yourself, but tough business"

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

    I have been working at AXA Advisors full-time (More than 5 years)

    Pros

    Great Flexibility to choose how you run your business and who to want to work with.
    Great Autonomy
    Great potential compensation
    Control over your schedule and your business

    Cons

    Training is limited to life insurance products only, you have to find other ways to learn investments and other insurances. Quality of training is dependent on your branch/location. Corporate support and technology is pretty poor. Difficult business, most people don't make it.

    Advice to Management

    Broaden training areas and fix the NOC and Tech

  3. "liers"

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

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

    Pros

    nothing good! management is in 0 level!

    Cons

    lying, lying ,lying.Never trust this company.

    Advice to Management

    Hiring is not important, more important train and support your workers. You only thinking about your pocket,nothing else.


  4. Helpful (1)

    "Lies Lies and more Lies"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Finance in Los Angeles, CA
    Former Employee - Finance in Los Angeles, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at AXA Advisors full-time (More than 3 years)

    Pros

    Make a lot of money

    Cons

    Lying to clients, friends and family that trusts you


  5. Helpful (2)

    "Sales job"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Registered Representative in Los Angeles, CA
    Current Employee - Registered Representative in Los Angeles, CA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at AXA Advisors full-time

    Pros

    The employees are all great, the senior employees are very helpful, and the hours are very flexible. Also the company events are cool

    Cons

    It's a sales culture because most of your salary is based on commission which incentivizes you to sell products and service


  6. Helpful (1)

    "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

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

    Pros

    flexibility and unlimited income potential

    Cons

    low income in year 1-3, little practical support, poor culture


  7. Helpful (4)

    "Financial Professional"

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

    I have been working at AXA Advisors full-time (More than 8 years)

    Pros

    Very rewarding career. I wake up every day knowing I have the ability to help people plan for their retirement and the future of their families. You definitely need to be self-motivated, organized and very entrepreneurial. There is no cap on earnings and payouts are liberal compared to most broker dealers.

    Cons

    You earn a living by helping people plan for the future. This is a career not a job to take for a paycheck. You have to be "on your game" every day and dedicated to your clients and your business.

    Advice to Management

    Make sure new candidates understand success as a financial professional requires long hours, evenings and often weekends meeting with potential clients, and a deep commitment to help improve the lives of others.

  8. Helpful (1)

    "Hard Work but worth it"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Consultant in Los Angeles, CA
    Current Employee - Financial Consultant in Los Angeles, CA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great Training Programs
    Don't need a natural market
    Great Upside Income Potential
    Family oriented work environment
    You build your own business
    Get to have hands on communication with clients and help them reach their financial goals
    Not a desk job, every day will bring something new/exciting
    Great mentorship programs

    Cons

    With White Collar work, comes White Collar hours in the beginning
    Hard work, be ready to step out your comfort zone
    Have to have a lot of sacrifices to secure a strong future

    Advice to Management

    Keep the culture strong with the LA branch. Not all branches across the US have a great culture as we do in LA. Continue to weed out negative people, this work isn't for everyone and that's ok. Make sure we recognize that before bringing on new consultants.


  9. Helpful (10)

    "Read this for honesty. Not "entrepreneurial" -- it's just sales"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Professional in Los Angeles, CA
    Current Employee - Financial Professional in Los Angeles, CA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at AXA Advisors full-time

    Pros

    -Technically uncapped earning potential

    -Total scheduling freedom

    -For someone with little technical ability, no novel ideas, but a desire/ability to grind through repetitive, unstimulating tasks, it can be a lucrative career (it's just a numbers game at the end of the day, and you have to stick around long enough to throw lots of darts at the board)

    -If you have a warm market of family or ethnic connections, you can make decent money selling reasonably competitive products.

    -You can learn a lot about the insurance industry, and then leave to go apply it somewhere more technical.

    -You will get some access to a house book of orphaned accounts, which can be a decent way to get your income and referrals started in the beginning (but don't expect miracles).

    -AXA is one of few insurance companies to do international underwriting on foreign nationals. If you are lucky enough to have access to such people, you can make great money in that market. Chinese advisors are in especially high demand right now.

    -A good way to get pure sales experience, which you can take elsewhere (my recommendation would be tech sales)

    Cons

    Dont get AXA Equitable, which is the insurance company, confused with AXA Advisors, which is the wholly owned subsidiary you are working for (where all your problems stem from). Aside from the fact that your experience will partially depend on which branch you get hired in (some provide way more support than others, another fault), here is the truth about AXA and the industry:

    -The industry is contracting. Individual sales are less lucrative than they used to be, so now you are making up for it in volume

    -The general public has little faith in your profession or your industry

    -There are no legal definitions for terms like "financial advisor", so you are lumped in with fly-by-night insurance salesmen (in the public's eye, at least)

    -Technology is gradually automating more of the products you sell, making them cheaper to deliver to the customer directly. People can now buy property/casualty/liability/health/term insurance online. You can get mortgages online. What makes you think permanent life insurance is so sacred it can't be sold online, allowing companies to cut out their commissioned sales forces? AXA managers will assure you permanent life products and annuities are too complex and special to sell online, but at one time the same was said about brokerage accounts and managed money (now being threatened by ever evolving robo advisors).

    -The average middle class client will soon have little need for you; they will be able to get on demand advice online from a fee-based advisor anywhere, and that will rapidly devolve into a price war between thousands of registered "advisors" competing for the same piecemeal business. Do you want to wade into that arena? No. Which means:

    -You will eventually try to target a much smaller pool of wealthy, complex clients who have a legitimate need for a financial advisor, except they will be flooded by solicitation from agents just like you.

    As far as AXA Advisors goes:

    -Salary is worthless and untenable for someone who doesn't have a big cushion of savings or family support, especially if you have student loans / bills. (24k year one, 12k year two, that's it)

    -You will be actively discouraged from soliciting managed money business and from spending time learning in depth market trading concepts (the excuses will sound something like "It takes forever to make money doing that, why not sell insurance, which has bigger commissions?" Or "Just give me (your manager) the managed money and I'll put you in on an insurance or annuity case"). Would you trust an "advisor" who has such little understanding of trading that their excuse is "I don't pretend to know the market, I'm just here to help you manage your risk"? Because that's someone who only knows insurance.

    -Another refrain you will hear is that you are here to counsel people against their worst behaviors and impulses (like buying high and selling low). Are you looking to become a behavioral therapist or a technical professional?

    -AXA is an insurance company first and foremost. And when you are a hammer, every problem looks like a nail. Despite everything you hear about the "open architecture" you supposedly have available to you, an AXA product or service is somehow magically the final answer almost every time.

    Additionally:

    -All the products you sell are commoditized, so it is much more difficult to differentiate yourself from the other solid products out there. So now you are selling uphill / with one arm tied, since you can't rely on the strength or novelty of your products to pique people's interest into meeting with you.

    -You can't control or change the products you offer

    -You can't control the pricing or competitiveness of your products

    -You will encounter tooth and nail resistance if you leave and try to take your clients with you.

    Does any of that sound "entrepreneurial" to you? What entrepreneur in their right mind would enter into such an arrangement? At best you can be considered a franchisee--you are expected to adopt someone else's brand and products as your own, with no control. And no equity.

    If you are a true "entrepreneur", find a way to efficiently fund your living expenses while developing your idea. If you are a good salesperson, you could do well here, but you are better off finding a company with a more specialized / differentiated product that you will be able to leverage more clearly and effectively.

    Ask a long-time AXA producer (preferably in a producer group), who isn't a partner or in management, what the industry was really like "back then" and how much better it used to be. You will continually hear the party line from management about how much easier you have it because of the tools available to you, but the reality is that 20 or 30 years ago the general public was much more open to doing business with you and you would have been paid way more for doing it.

    If you are totally set on a career in financial services, and you are going in "cold" (i.e no connections in the industry or very warm, wealthy markets to sell to) do whatever you can to get into another company that has an actual hands-on advisor "track". They will groom you over a period of a few years to learn the business, support established advisors, learn techniques, get your CFP / other credentials, all while obtaining an actual livable salary (which allows you to focus on learning and frees you of low-end ethical dilemmas, like selling something to people who don't need it, or selling a higher commission product). Make sure the company you choose will allow you to learn insurance AND investing, and you will become a true, well rounded "advisor".

    Advice to Management

    The classic agency model is dead. Focus on hiring bright, qualified candidates that you can groom, instead of farming the churn and burn


  10. Helpful (1)

    "Financial Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Consultant - Sales Force Associate in Irvine, CA
    Former Employee - Financial Consultant - Sales Force Associate in Irvine, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at AXA Advisors (More than a year)

    Pros

    You get to learn alot about insuranc based investment products such as life policies, variable life policies and Universal Life policies. You will also learn alot about annuities and how they can sometimes help clients in certain situations when they are necessary. You get to work the brokerage and investments side of the business as well through brokerage products bring offered by LPL You will gain some real knowledge on how these policies work and who they benefit.

    Cons

    The con is dealing with complete idiocy when it comes the National Operations Center and working with their underwriters for Life Insurance and the excessivesness it takes to get a policy issued. The Con is also the fact that all of the business you work hard to bring in becomes theirs once you leave. You can leave axa and agree to not reach out to your clients at leaving but its ok for AXA to send you bills months down the line if the client hasnt continued paying their premium. Ive caught multiple when they were still indeed paying for their insurance but somehow I still owe AXA money ?its AXA's business and not my job to keep those clients after I had left... that is not responsibility .

    Advice to Management

    Management needs to do more for their employees by actually leading by example. Instead of talking about how rich you were when you did this. We didnt have Rooney leading the line and showing us how to prospect outside.


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