AXA Advisors Reviews | Glassdoor

AXA Advisors Reviews

Updated October 19, 2017
441 reviews

Filter

Filter

Current Employees

4.0
StarStarStarStarStar
Rating TrendsRating Trends
Recommend to a friend
Approve of CEO
AXA Advisors Chairman and CEO Henri de Castries
Henri de Castries
158 Ratings

441 Employee Reviews

Sort: PopularRatingDate

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 until you make 15 applications and/or 3,000 PCs (production credits) (in 22 reviews)

  • Long hours with a lot of sales training (in 40 reviews)

More Pros and Cons

  1. Helpful (1)

    "Run away as fast as you can"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Consultant in Dallas, TX
    Current Employee - Financial Consultant in Dallas, TX
    Doesn't Recommend
    No opinion of CEO

    Pros

    Your success corresponds directly to how hard you work

    Cons

    Horrible leadership and almost no support from managers. You are left to fend for yourself completely. Example: Had to pay to use the office printer... not joking.

    Advice to Management

    Company ethics are extremely questionable


  2. Helpful (3)

    "If this would be your first job in financial services -RUN, and don't look back"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Consultant in Edison, NJ
    Current Employee - Financial Consultant in Edison, NJ
    Doesn't Recommend
    No opinion of CEO

    Pros

    flexible schedule, ability to choose your joint work partner and decide commission splits amongst yourselves

    Cons

    Everyone lies to you, about everything. Start-up costs are never completely disclosed, same goes for on-going expenses (about $450 per month, not including health insurance costs and any marketing you want to do). IF you actually make any money, the commission statements are impossible to read, and costs are deducted -often ending in NEGATIVE commissions that go into "recovery" that they will send lawyers after you to regain. There are SO MANY negatives here, it's rediculous. Unless you have a pre-established book of business you KNOW you can work, DO NOT WASTE YOUR TIME HERE!

    Advice to Management

    pay a true base salary, have SOME sort of structured training program; mandate pairing your senior agents with newbies so they can actually learn something

  3. Helpful (1)

    "Compentence is not important"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend

    Pros

    some of the people are nice. AXA pays well at the upper levels. Benefits are good but expensive.

    Cons

    most of the good managers were forced out in 2007. there is no career path unless you have a prior attachment to the current management Hard work is rarely rewarded. Thinking out of the box is not encouraged at all. Staff is treated badly. We should keep our heads down and just be happy we have a job. If we don't like it....then leave....there are plenty of people out of work to take your place.

    Advice to Management

    Stop running the broker dealer by the buddy system. Reward accomplishments not friendships


  4. Helpful (4)

    "working as an Axa Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Professional in San Francisco, CA
    Current Employee - Financial Professional in San Francisco, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    If you like Axa Equitable as a company, than Axa is the place for you. If you want to be a more well rounded advisor and think outside the box, it is not.

    Cons

    Working at Axa Advisors is best described as working as a sales rep for Axa Equitable. The advisors have the ability to sell a multitude of financial products, but every incentive in the world to sell only Axa Equitable products, which are obviously not the most appropriate in every circumstance.

    Advice to Management

    My advice to management is that they treat thier employees better. Don't nickel and dime them as much as you do.


  5. "Run after you get your licenses!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Consultant in New York, NY
    Current Employee - Financial Consultant in New York, NY
    Doesn't Recommend
    No opinion of CEO

    Pros

    they sponser your certifications for your 7 and 66

    you have a decent choice of joint work partners that you can choose to work with

    the location of the office is convenient to get to meetings

    training provided if you are interested about insurance and insurance products and how to sell them

    if you are straight out of school, this may be a job to learn

    Cons

    -Everyone is tryign to steal eachother's businesses
    -Managers encourge you to download attorny lists thats been called again and again so that you may practice on your rebuttals
    -Have to pay for your own computer, software rentals, and all marketing materials.

    Advice to Management

    Ethics Ethics Ethics


  6. "Con Job"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Scottsdale, AZ
    Current Employee - Anonymous Employee in Scottsdale, AZ
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Good Training and proper work atmosphere.

    Cons

    100% commission scam + being pimped out (having to split whatever small commission with your managers for the first 2-3 years).
    Also have to pay every business expense from your own pocket!

    Advice to Management

    There must be a reason why they are not growing: give employees a chance with a base and much more time to validate contracts.


  7. Helpful (21)

    "This Should Be Your Last Choice of Career Agencies"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Consultant in Atlanta, GA
    Current Employee - Financial Consultant in Atlanta, GA
    Doesn't Recommend
    No opinion of CEO

    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 Management

    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!!!

  8. Helpful (4)

    "Don't start your career here!"

    StarStarStarStarStar
    Current Contractor - Financial Advisor Trainee in New York, NY
    Current Contractor - Financial Advisor Trainee in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at AXA Advisors as a contractor (Less than a year)

    Pros

    Sponsorship for Series 7, Series 66 and Life, Accident and Health exams.

    Cons

    Dishonest management
    Unknown fees- $400 to rent a desk every month + other fees like using AXA's website which they won't tell you in the hiring process
    incompetent HR-took over 6 weeks for one HR person to process my information so I could take my Series 7
    Little to know training-In less you consider tactics of harassing people on the phone training
    You can't make a long distance call or print a piece of paper without AXA charging you
    If you sell brokerage you have to pay ALL of your own transaction fees
    Get ready to fork over 50% of your commissions to your supervisor when you're starting
    NO SALARY starting out-naturally when you're starting you'll need to pass your exams and build your book so don't count on AXA to get you through those first couple of months. Just so you know the average for starting brokers is anywhere from 300-1000 salary while training.
    They'll take anyone with a pulse off the street and hire them
    They're so desperate they reach out to people that have quit and try to get them back (I've probably received about 10+ phone calls from recruiters since I stopped working there).
    Also...before you start working there just google "AXA Advsors" you'll probably hear more of the same, but check out how many law suite they've been involved in.

    Advice to Management

    None, this company is hopeless.


  9. Helpful (2)

    "Felt mislead and strung along during the onboarding process. Very poor choice for recent college grads."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Really none to speak of.

    Cons

    Dishonest, always additing caveats. Invested over $1,000 of my own money to get licenses only to find out that the reimbursement date was contingent upon further sales, not passing the tests.


  10. Helpful (3)

    "Financial Advisor"

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

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

    Pros

    Wide variety of resources since the company is international . Company provides decent sales training if you are new to sales. You will virtually be just a salesman who calls themselves a "Financial Advisor" and you don't even have to have any type of financial background to be a financial advisor which is totally ridiculously sad but true

    Cons

    Company will tell you whatever they think you want to hear to get you in the door. They will tell you that you will earn 100k + if you just work hard which only 2% of advisors really make annually . Most advisors make around 20k their first year and you will be fired if you don't meet certain quotas. It's a revolving door company policy and after most employees really see what the company is about they leave. There is over a 60% turnover rate annually so you can do the math

    Advice to Management

    TELL THE TRUTH !! Applicants deserve that at the minimum! Don't just try to get individuals in the door!


Showing 441 of 858 reviews
Reset Filters