AXA Advisors Reviews | Glassdoor

AXA Advisors Reviews

Updated April 22, 2017
633 reviews

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Full-time Part-time

633 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 is annoying really (in 22 reviews)

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

More Pros and Cons

  1. "Run after you get your licenses!"

    Star Star Star Star Star
    • 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


  2. "not a good company"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Advisor in Dallas, TX
    Former Employee - Advisor in Dallas, TX
    Doesn't Recommend
    Disapproves of CEO

    Pros

    they will teach you the business and get u all the stuff you need to get started in the financial world

    Cons

    They will cheat you out your pay. esp if you are a new comer and dont know much about how you get paid. They just want your to sell and not care about the clients

    Advice to Management

    be better people... you will make more money if you just stop focusing on the greed


  3. "Con Job"

    Star Star Star Star Star
    • 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.


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  5. Helpful (19)

    "This Should Be Your Last Choice of Career Agencies"

    Star Star Star Star Star
    • 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!!!


  6. Helpful (1)

    "Very Dishonest company"

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

    Pros

    they reward if you make them a lot of money, but thats hard to do

    Cons

    hard to get started, once started its still hard to keep going, always looking for more people to get money from, have to cold call, 12 hour days

    Advice to Management

    It should be so hard to get clients


  7. "Horrible, the management is only looking to sell at all cost to anyone"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Consultant in Miami, FL
    Former Employee - Financial Consultant in Miami, FL
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Great learning opportunity. They offer a lot of training and they have excellent systems to do financial analysis and illustrations for clients. It is a great way to get experience and then LEAVE!

    Cons

    They do not offer a base salary. You have to pay for all your expenses (including lap top, marketing materials and any other expense that you might incur to sell). Even though they sell it as if you are your "own boss" you have to go to tons of meetings so that you learn how to counter clients' ojectives, get referrals (you have to sell, sell, sell to everyone and anyone).


  8. "Terrible company for women to work at."

    Star Star Star Star Star
    • Work/Life Balance
    Former Employee - Financial Advisor
    Former Employee - Financial Advisor

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

    Pros

    You can make you own schedule and not have to go into the office. AXA does have some good life insurance and annuity products for clients.

    Cons

    Unprofessional workplace. As a woman I was always passed up for recognition and production awards even though I had out produced all counterparts multiple times over the years. I would be yelled at in my annual reviews for the way my hair looked that day rather than being praised for having the highest production. My managers insisted on taking sometimes up to 20% of my commission for just being a manager. I was also required to split my commissions with a partner (usually a new one) that could not produce yet. I often had to train my partner and split my commissions with both my manager and partner. This was awful because you eventually become 100% commission and you have to "feed" other associates. The managers set it up this way because there is very high turnover and they have to hit recruiting goals, and they do not care if the new associate succeeds because eventually the manager wants to take the clients and commissions from the failed new person. The manager ultimately wants passive income where he takes a cut from all his employees and takes all failed associates' clients and ongoing commissions. The manager ultimate goal is to NOT work and feed off of you.

    To institute this disgusting practice the manager (male) threatened me in private meetings. I had worked hard and tried to hold on and protect my business. This happened on multiple occasions. I felt I was proactive in reporting threats and behavior to the branch manager, but he placated the situation. He eventually addressed the sitution, but his poor judgement and procrastination had let a bad situation become horrible. There is no human resources available even after I asked the branch manager multiple times. I was punished by my branch by having it be accepted to be yelled at and cussed at by other employees . One example would be in talking with my compliance officer about a rationale for opening a new account and updating investment strategies. The compliance officer would yell and lose control over crossing something off a form rather than writing NA next to it. Compliance officer's actions were ongoing and others could hear him yelling at me, and some others like my old manager, would be very buddy buddy and wait outside the door to go to lunch with him. There would be no recouse.

    The horrible examples of unprofessionalism and need for human resources, and code of conduct in this office (San Diego) are paramount. This office is a locker room. You are either in or out. Also, do not be stupid, if you are in you are playing the game and stuck selling mostly proprietary products that other firms do not carry. This means that after 5 years ( or what ever it may be) and you want to change firms: you cannot without leaving your book of business and all your hard work and sacrefice with them.

    There are a lot of firms on the street. I have to admit, when I first started there I loved it and fit in for many years. I learned a lot. You will get to run a lot of meetings, learn the basics better than almost anywhere for a short time ( assuming you have no prior sales or financial experience). Then get out and move on. Build your own book with a product agnostic firm. That way you can go anywhere: wirehouse, independent, etc. This firm does have an experation date for most just like when you graduated elementary school. Think about it: you would not want your child to spend all their school years in elementary school, however they do need to attend there K-5 years there. The product, scope, and financial industry knowledge stops here at a low level. Think about what kind of advisor you want to be. At the end I learned I had outgrown the firm, and I could not be fooled or drink anymore Kool-aid in being told AXA was it. I didn't care about partying with them or fitting in. What was important was my career as a Financisl Advisor, my book of business, and growing my knowledge ( yes I stopped going to training because they only trained on a couple of products over and over again). I learned a very hard and thankful lesson here: do a good job no matter how hard, mean, or unsupportive people become of you, you will shine and make it out. Those who ridicule you, desperate to fit in, or suck up to those who are mediocare at best, will always sacrefice their self interest in their career because they have to continue to appease to get their morsels. I do want to note that not all advisors here are bad, and I met some very nice people along the way, but usually they had other circumstances that helped them side-step the toxic vortex. I am thankful to the real friends I made, for AXA giving me my start, and those who did support and help grow me. I wish them the all the best. To the others and the business model I leave you this: "It is not what you don't know that you should fear most, it is what you think you know to be absolutely true and is in fact false that is of the greatest threat.

    Advice to Management

    You need human resources to be engaged at the branch level and educate all employees on code of conduct.


  9. Helpful (3)

    "Karr Barth/ AXA Advisors Interview Experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Bala Cynwyd, PA
    Former Employee - Financial Advisor in Bala Cynwyd, PA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Very nice building. Staff seemed satisfied and content.

    Cons

    This company goes by Karr Barth Associates and AXA Advisors. They called in about 5 of us for a group interview and gave us more information about the company. Then they said they would be selecting two or three of us to come back. All the other candidates, including myself, had their master's degrees and so did everyone else I spoke with at the company. This gave me a few shreds of hope. I was called in for a second interview to speak with the president and was eventually told that I would have to pay $650-800 to get licensed and that I would have to draw from my "natural market". For those of you who don't know, that is people that you know like your parents, family, and friends. After that, I was told that I could go for 4-5 weeks without receiving a paycheck "due to the peaks and valleys associated with this type of career". Also, they asked that I work until 8pm and come in on weekends because, "It's not a job, it's a career business". Additionally, the president who interviewed me was writing on my resume the entire time I was speaking to him and not making eye contact with me or showing any other social vital signs. I did confirm my third interview (which I will not show up for) to show them that they are not the only ones who can waste other peoples' time.Thanks for the false hope and wasting my gas money. Stay away from this place.

    Advice to Management

    Get professional, it will help you not receive reviews like this.


  10. Helpful (2)

    "Life Insurance Sales"

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

    I worked at AXA Advisors full-time

    Pros

    You get to set your own hours

    Cons

    Dont know how to properly advise...they just peddle life insurance.

    Advice to Management

    Learn more about finance


  11. Helpful (1)

    "Great Training But That's It"

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

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

    Pros

    Great place if you're new to the industry. Training is good for overall product knowledge in life vehicles. You will get a good understanding of the uses and needs of life.

    Cons

    They seriously believe Cornerstone is the almighty one all best investment. Pay is crap. 2,000/ month in the rbg. You're dealing w cafe, maintenance, aids, and teachers. The creme brûlée client with wealth management needs, lol. LPL system is complete cramp. Not much is spoken about managed money. It's primarily a life insurance company.

    Advice to Management

    Pay more. Get rid of 6 month contracts and step up to the plate. Otherwise you'll be training with high turn over and be another insurance company. Wall St. will not take you seriously. If there was a way to give them half a star I would. 1 star is too high IMO.



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