AXA Advisors Reviews in New York, NY | Glassdoor

AXA Advisors New York Reviews

Updated May 8, 2017
100 reviews

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New York, NY

3.3
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AXA Advisors Chairman and CEO Henri de Castries
Henri de Castries
32 Ratings

100 Employee Reviews

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Pros
  • It is true that you can make a lot of money right out of the gates (in 17 reviews)

  • Ability to make A LOT of money (paid for what you do) (in 16 reviews)

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

  • This of course is after you have recruited your friends and family to the company (in 21 reviews)

More Pros and Cons

  1. "Consultant"

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

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

    Pros

    -Great resources and benefits packages

    Cons

    - Long hours due to independence


  2. Helpful (1)

    "Great potential for long-term career if you're willing to put in the work.."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Consultant in New York, NY
    Former Employee - Financial Consultant in New York, NY
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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

    Pros

    -Running your own schedule: You set your own hours but its a very competitive field so if you're not working 50+ hours a week in your first two years you won't make it for long. If you put in the hours and see enough people, you're bound to get some good clients.

    -Uncapped Income: For most advisors, you're going to come across a few clients that close big cases for you and you earn big commissions. Truly uncapped but again depending on how much work you put in, and how lucky you get, to come across such big cases.

    -Plenty of resources: AXA does give you the tools to succeed but they won't hold your hand the entire way. It's up to you to go out and do the market researching, lead generating, and all other types of income-generating activities that takes for you to succeed. If you're self-motivated and can manage yourself, you're going to do great.

    -Great environment: My team was great and we all got along very well. I made very close friends in the time I was there. My team would plan team-trips once in a while just to hangout outside the office, and the company itself provides company-trips for those who qualify.

    -Location: I worked in the midtown Manhattan branch and the office was very nice. Many companies close by to prospect at, many good food choices, and access to all types of trains. When clients would come over for a meeting they mostly would compliment the nice reception/conference room area.

    -Long-term opportunities: You truly set your own future here. If you want to be just an insurance agent then you can focus on insurance and make a great living. If you want to be just an investment advisor then AXA offers great funds through LPL Financial (it will just take you a while to build your book). You can become a manager after a couple of years and train people. The choice is yours, just make a decision and commit to it if you want to last.

    Cons

    -Your entire income is through commissions. If you stop working hard and stop prospecting, then your income will show in a month or so when the business starts slowing down. This can be an issue if you don't have any savings on the side.

    -Negative Commissions: Most of the commission you take on life-insurance products are "paid up" commissions, which means that they are paying you a year's-worth of commission upfront in anticipation that the client will keep paying their premiums as they promised. If the client does not pay most of what they promised, then AXA will take back what they paid you in commissions accordingly. This can be an issue if you close a $5,000 commission client, then 6 months later the company tells you that the client stopped funding their policy and now you're in a hole of $3-5K with AXA and they will take it off from your next commission until its all paid off. Again, if you're not prospecting constantly, and managing you existing clients, then you're gonna find yourself in some tough situations.

    -Big push for insurance products: AXA is a financial firm with a strong focus on insurance (life, disability, long-term care, variable annuities, etc.) If you're not selling insurance products then your not making a lot of money.

    Advice to Management

    Focus on training agents better on whats going on in the markets. Insurance is very important but its only a piece of financial planning.


  3. "advisory intern"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Data Analyst in New York, NY
    Former Intern - Data Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at AXA Advisors as an intern (More than a year)

    Pros

    really no pros i can think of

    Cons

    repetitive work, just copy and paste


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  5. Helpful (1)

    "AXA Intern"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY

    I worked at AXA Advisors (Less than a year)

    Pros

    Everyone I worked with were very friendly and fun to be around.

    Cons

    Interns were pretty excluded from everything, most people didn't know us


  6. Helpful (3)

    "Financial Professional"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Professional in New York, NY
    Former Employee - Financial Professional in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    - By being immediately thrown to the wolves in their sink or swim environment, I was able to learn and develop certain skills quicker than at other places
    - Pizza on Wednesdays

    Cons

    -Their staff is completely inept, and oftentimes you are payed significantly less money than you earned. And on top of that, after they underpay you, they find ways of making it so that you owe them money, not the other way around (based on the experience of the majority of my coworkers as well as my own). AXA will bleed your wallet as much as they can while you are there.
    - Successful advisors love talking about how much money they made, but none of them address how much they had to spend to make that money (mostly because if they do, their accomplishments are no longer impressive).
    - You are given minimal support and have to dive blindly into everything you do. They will not help you get leads, and you will receive minimal (if any) guidance on how to build your book of business from the ground up.
    - The "Financial Professionals" are salesmen with no financial acumen or literacy. Most AXA Advisors are able to memorize presentations, which makes them appear to have the knowledge and skillset that they actually lack
    - Their commission system and awards oftentimes make FP's have to chose between doing what is best for their client, and doing what is best for their them personally or their family. It is rarely the same thing.
    - They want their FP's and FA's to blindly buy into what they tell them. Regardless of any evidence contrary to what they say. "I know it hasn't worked for you yet, but just trust the process". This often causes the smart and knowledge-oriented employees to seek opportunities elsewhere.

    Advice to Management

    - Invest in your new FP's. The money you save with the sink or swim approach ultimately costs you more since most FP's do not have the resources to survive in that environment and ultimately do a bad job of bringing in clients.
    - Get with the times, and create a greater focus on wealth management. The current way of doing things will become obsolete in the next 5-10 years.
    - Do a better job of training your employees on actual investment education. That way your advisors could bring distinctly more value to their clients than their clients opening a simple Vanguard account


  7. "Chop Shop"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in New York, NY
    Former Employee - Financial Advisor in New York, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Interesting people, light-hearted atmosphere

    Cons

    Pyramid Scheme esq, little to no training at all, on your own.

    Advice to Management

    Improve training


  8. "AXA Advisors - Great experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Neutral Outlook

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

    Pros

    - there are very few places that you can start out as client facing
    - great experience in sales and communicating
    - really knowledgeable people

    Cons

    - money
    - for your first 2-4 years this is a sales job, don't let anyone tell you otherwise
    - getting paid for a case, then having the case fall through, then having to pay AXA back

    Advice to Management

    -set correct expectations
    - there is no accountability for senior partners. After cold calling 250+ numbers a day and setting meetings rejection after rejection, it becomes disheartening when you do sit down with someone who needs financial help and nothing is done. There's two sides to everything and its up to you to completely buy in.


  9. "Internship"

    Star Star Star Star Star
    Former Intern - Intern in New York, NY
    Former Intern - Intern in New York, NY
    Doesn't Recommend

    I worked at AXA Advisors as an intern

    Pros

    During interview, you are given the option to decide if you want to proceed with business development or recruiting

    Cons

    Internship not recommended for graduate students here most of what you do here is very basic what a middle school student could do. Terrible when it comes to responding back to emails... very unprofessional attitude towards interns

    Advice to Management

    You hire graduate interns from the top universities and then make them do copy paste job..relates to Steve Jobs excellent comment on hiring smart people


  10. "Great colleagues, autonomy, and mentors"

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

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

    Pros

    If you really are entrepreneurial and want to grow your own practice with the help of some of the most successful advisors in the company, then this place is great. No one that I've met is shy about opening their doors and sharing there best practices and going even farther than what's needed to help you.

    My biggest regret was not coming here right after college as I toiled around with Wall Street and all its bureaucracy and job volatility for many years before I had enough with people always having control over what I can make, where I can go with it, and will I be there in January after layoffs/bonus(maybe).

    Def a good place to be if you are hardworking (I was putting in 60+ hrs a week in banking and figured if I'm doing that, I might as well do it for my own business and get the opp to make more $), smart, and want to be in control

    Cons

    Not a con but it does require persistence, dedication, and motivation to stay on track. If you fall off, a good manager like I have/had will pick you up and find your drive again. If you're lazy or said all the right things in the interview and took this thinking it was going to be different than what was explained, you're wrong. This business is not for the lazy or weak. You need to commit.

    Advice to Management

    Keep hiring, developing the right people who focus on retention and development and this place will continue to break records and change the view of many when it comes to risk and asset mgmt.


  11. "2 Years in"

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

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

    Pros

    This job rewards those who really put in the effort, if you think this an easy 9-5 JP morgan job, dont do it.

    Cons

    You need to be here early and stay late, clients will reject your work and you need to learn to go out and move past it

    Advice to Management

    Management here is different based on your team, some have distant approaches while others like to hover. Find the right match for you.


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