AXA Advisors Reviews | Glassdoor

AXA Advisors Reviews

Updated May 23, 2017
642 reviews

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642 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. "Hostile - Horrible place to learn the business"

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

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

    Pros

    The branch structure is designed to really help new people learn and grow in the business. Training in various locations throughout the country is always a nice perk.

    Cons

    The branch I was at had a lot of issues, an absentee Branch Manager and zero support. Orphaned clients have talked about a "revolving door" of advisors.

    Advice to Management

    Take a good look at the branches in New York.


  2. Helpful (2)

    "Chop shop"

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

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

    Pros

    Sponsorship for Series exams, entrepreneurship, time management.

    Cons

    Pressure to solicit family and friends, poor guidance, salaried for only the first month then 100% commissions.
    It's a tough business and extremely difficult to begin with any company in this industry.

    Advice to Management

    Focus on providing more guidance for your employees to help get the ball rolling. Stop pressuring new hires to ask all their family and friends for business and instead help them develop a book of clients. Also provide longer financial support for your new hires rather than the one month make it or break it.


  3. Helpful (3)

    "Legal corporate pyramid scheme"

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

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

    Pros

    Unlimited "days off", follow the school schedule for work days

    Cons

    Commission-based pay, paying for office space, miserable co-workers, cannibalistic office mentality, constant pressure to sell life insurance

    Advice to Management

    Quit


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  5. Helpful (2)

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

    Star Star Star Star Star
    • 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.


  6. Helpful (3)

    "Financial Advisor"

    Star Star Star Star Star
    • 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!


  7. Helpful (1)

    "Don't do it"

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

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

    Pros

    Flexible schedule(depending on your manager and how long you've been there), Potential for good income(but not very common)

    Cons

    Poor training, No base salary, Poor benefits(no 401k match), Force you to sell to your family and friends, Have you tell prospects you sell outside products but base your benefits requirement and bonus on AXA Equitable proprietary products, Have you sell primarily life insurance and annuities regardless of clients best interest, every expense is paid for by the advisor including but not limited to: computer rental(required), Errors and Omissions insurance(required), cubicle or office(required), office supplies, personal office equipment(printer, additional monitor, etc), postage on work related documents, etc. No one knows who the company is so you have to sell them on using you and the company. Claim you get several resources from company but most are no longer legitimate since they have been recycled so many times by employees that have quit.

    Advice to Management

    Coach your employees instead of badgering them when they are doing poorly.


  8. Helpful (1)

    "I paid for my Series 7 & 66 so my managers had no vested money in me and if I worked out great if not oh-well."

    Star Star Star Star Star
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend

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

    Pros

    If you have 3-5yrs, work 10-12hrs, love smiling & dialing & live at home you might make it.

    Cons

    You eventually pay for your space, computer, etc. & if you are producing and actually making a living But, however, don't meet your current year goals you could be let go, even after 2yrs...

    Advice to Management

    Have a vested interest, help create business, build/demand teams and be part of the teams and if their is someone that has knowledge of a certain area of the business/financial markets harness/hone in on it. This way AXA will not be a swinging door company..


  9. Helpful (1)

    "Not what it seems after you get there"

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

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

    Pros

    Good training if you are new to the industry

    Cons

    All promises made in the beginning are not necessarily true. All the leads that AXA is supposed to give to you are either old, or have been recycled so many times by all of the advisors who have come and gone. VERYexpensive, all costs of doing business, office, ink, printer, postage, computer back up , computer phone etc etc is charged to the advisors.

    Advice to Management

    Be honest about the costs of being an advisor at AXA. The way it was explained to me made it sound very minimal and easy to "work off" on a monthly basis, not true at all. You are either micromanaged or left totally alone depending on who your manager is, neither one provides a productive environment.


  10. Helpful (3)

    "Don't fall for the lies..."

    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
    Negative Outlook
    No opinion of CEO

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

    Pros

    Earned and was reimbursed for my NY Insurance license and my Series 7 & 66 exams. Received some valuable insight into the workings of the financial industry.

    Cons

    I almost went bankrupt and nearly had a nervous breakdown. Spent the last month or two just spaced out, staring at my computer screen and wondering why I didn't continue studying to be an accountant.

    Highly aggressive sales and prospecting environment that encourages use of deceit and intellectual property misappropriation such as lifting corporate directories from conference rooms at target companies to gain access to prospects. Managing VP's tacitly condone misrepresenting relationship between AXA Advisors and other companies to add false legitimacy and get appointments. Advisors are routinely expelled/ banned from office buildings.

    You have to sell your soul to be successful. I saw through the lies pretty fast but was in deep denial, and chased a few opportunities that did not pan out. Hours are not flexible in reality, because your managing VP will guilt you into being there 12 hours a day.

    Watch out for the full of himself guy that has hair like a troll doll.

    Advice to Management

    Clean house, it's not just about the money but also integrity. Put the rotten apples in the trash.


  11. Helpful (2)

    "Waste of time"

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

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

    Pros

    People are motivated and really want to make money

    Cons

    Management is inept, no support is given whatsoever, you need to fight to earn the right to get paid a salary - and then they ridicule you if you try and choose it, management is clearly trying to just suck people dry and move on

    Advice to Management

    Rethink the entire way you do business


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