AXA Advisors Reviews | Glassdoor

AXA Advisors Reviews

Updated December 12, 2017
109 reviews

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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 is annoying really (in 23 reviews)

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

More Pros and Cons

  1. Helpful (1)

    "AXA Advisors"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend

    Pros

    Possible potential for high play

    Cons

    everything else is pretty terrible

    Advice to Management

    manage your employees


  2. "Financial Advisor"

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

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

    Pros

    Overall AXA is a good company. There are Mentors that are truly interested in your success.

    Cons

    Managers that are not sensitive to diversity which includes women, working mothers and people of color. I can't speak for all branches, but the San Francisco branch is like a car salesman. They do not do holistic comprehensive Fact Find. They only care about the numbers and volume.
    Managers rush a sale to make numbers. And when numbers are not made. They blame the advisors. When you complain to upper management, they defend their managers because they only look at the numbers. Just because a manger makes a sale and it looks great on paper, it does not make them a great manager that truly cares about the success of their advisors. The SF office is a young office of 20 years old advisors and 30 year old managers that shoot from the hip. They do not bring value to the table. I have lost a few sales because of this.
     It is not an environment for mature women and working mothers. The managers do not care. They hire diversity for for quota only. There is much prejudice in the office, unless you are willing to be whorish to save your position.

    Advice to Management

    Take a lesson on management and diversity, not just look at numbers, but be truly sensitive to diversity.

  3. Helpful (1)

    "Financial Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Consultant
    Current Employee - Financial Consultant
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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

    Pros

    -Ability to make your own schedule
    -Unlimited Earning Opportunity
    -You are essentially running your own business so you get out what you put in

    Cons

    -You are essentially running your own business so management often shows lack of interest as your success or failure makes little difference to their bottom line
    -Complete lack of mentorship and guidance
    -No set sales process or coaching
    -No marketing or lead generation

    Advice to Management

    Establish a set mentorship program. Managers need to be more accountable for the success and failure of their lower level advisors. Needs to be a better screening process before advisors are allowed to open their own districts and become managers


  4. "Staff Position"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at AXA Advisors (Less than a year)

    Pros

    There are not a lot of pros for working at AXA. It is a global company but it does not have a big company feel. Not much is expected for staff employees and it provides good enough flexibility.

    Cons

    AXA seems to have a major lack of strong management. Due to the struggles of management, training and other areas suffer.

    Advice to Management

    Find stronger leaders for the management positions, provide training and support to managers, invest in your employees or turnover will remain high


  5. Helpful (1)

    "Financial Advisor"

    StarStarStarStarStar
    Former Employee - Financial Advisor in New York, NY
    Former Employee - Financial Advisor in New York, NY

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

    Pros

    Higher payouts than banks, etc. Great training provided by wholesalers on products.

    Cons

    You're absolutely on your own. If you can't get clients yourself, you can't survive. No base salary. If you don't bring in a book of business from somewhere else or have your own natural market that would be willing to open up accounts, you're looking at a dead end.

    Advice to Management

    None really as you are on your own. You're not to be managed when you accept the job. You are to manage yourself and find ways to bring in clients. It's quite simple.


  6. "Starting position"

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

    Pros

    For someone who is just starting their career, there are not any pros unless you want to do a lot of work for not a lot of money.

    Cons

    They want you to provide 200 people, either family, friends, or others you know, so you can call them attempting to see if they are not happy with their current financial situation so you can bring them over to your company. Talked to someone who worked there for a year and a half and even after you leave the company you are still responsible for the clients you brought in.
    Two types of income, either all commission 2000 a month with half commission.

    Advice to Management

    Source: interviewed with them.


  7. Helpful (4)

    "Avoid at any cost!"

    StarStarStarStarStar
    • 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 (Less than a year)

    Pros

    Possibility to get licensed, but at your own expense and there is no salary.

    Cons

    The worst experience in my life: zero support after licensing - Y.O.Y.O (you on your own); AXA mandatory training was very poor; my office space was not ready when I started, my desk phone did not work and I my business cards "by mistake" had a contact phone number of another advisor who is related to our receptionist. I found it only when my phone was fixed (2 weeks later). There are tons of problems on the management level. There is ZERO marketing support for new people with the compliance approved material. On my interview I was told that after my licensing I will be receiving 6 months payments + commissions ($1,360 per month), in reality I had only 1 month paid. I got embarrassed a few times by introducing AXA as a "full financial service" company (exactly what we were told multiple times and how AXA is introduced), but in reality the PEP Associates are set to sell ONLY insurances and annuities - no training and access to LPL. As Financial professionals we are supposed to work in the best interest of our clients. I was pushed to do replacements and fussed when I refused to do it. If you are still considering AXA career, be prepared to pay for EVERYTHING out of your pocket and good luck to you!!!

    Advice to Management

    Terrible business model: financial pyramid or Ponzi scheme. This is a real rip-off and scam.Your business model does not work.

  8. Helpful (7)

    "Everything You Need To Know"

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

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

    Pros

    In order to get your Series 7 license you need to be employed at a firm that will sponsor you, so you can always get your licenses and leave, except most firms with positions that require a 7 also require multiple years of experience, furthermore most firms that will sponsor you will not only pay for your licensing but also pay you while you study, not AXA. For the first six months after you pass your exams you are in "pre-employment" (you don't actually get to work for the company yet) in one of two divisions: traditional or retirement benefits group (RBG). In traditional you are making 100 cold calls a day to either households or businesses with a list that you have to buy yourself (expect to spend hundreds of dollars), I actually like making cold calls, the problem is that no one has ever heard of AXA, so expect to have to explain what your company does in every call. RBG is composed of people who sneak around schools trying to sell teachers the employer sponsored retirement plan (403(b)s) and then cross sell life insurance. Many school districts have changed their system of compensation such that the commission on a 403(b) is roughly $2. I could not make this up. If you want to make any money in RBG expect to drive for hours back and forth every day to a school district that has not made the change. Did I mention that the school's administrators and security do not actually want you there? Expect to be called into the principals office or asked to leave the premises several times per week. RBG would have been a goldmine when insurance companies first cornered the education market, but now it is highly oversaturated. Expect to hear about your last five predecessors from the people you speak to. The hurdles (production requirements) are ridiculously low compared to other firms due to all of the aforementioned reasons. You really do have the freedom to set your own schedule although if you aren't going to work 12 hours a day I would not bother. AXA has such an extraordinarily high turnover that after you leave, everywhere you go you'll meet people who were once your coworkers, which helps with networking.

    Cons

    You will likely make no money ($0) while working at AXA. They pay you $1,200 or something when you pass your exams, but that's only because they lost a lawsuit in California forcing them to. After you pay for your three licenses yourself that $1,200 quickly approaches zero. There is pressure to sell products you do not understand haphazardly to friends and family. The only retirement products you have available to sell are life insurance and annuities, making you an insurance agent. To make matters worse you can only sell AXA insurance and AXA annuities versus other options that could be less costly or produce a higher return for the client. There are other insurance companies like AIG that let you sell non-proprietary products and pays you a salary on top of commissions to do so. Managers received promotions based on their ability to sell annuities, and do not have a clue how to recruit or train new employees. Not a protocol firm, meaning you cannot take your clients with you. Many other firms will allow you to take your practice with you, furthermore firms will pay you up to 3 times your residual income in the form of a bonus, to do so, this is not available to you at AXA. There is also a severe lack of training, expect to spend one day (if that) with your manager then you are on your own to learn all about the securities industry and bring in clients.

    Advice to Management

    If you actually were to train your employees and pay them a salary, new college graduates would not be reading all of the horrible reviews about AXA scattered around the internet and would actually show up to their interviews. You have an army of inexperienced salespeople making quasi-suitable recommendations, ruining many naive clients' chances for a livable retirement. Wirehouses and regional broker-dealers pay $35,000-$50,000 in salary for the first few years while a new Financial Advisor gets on his feet, if you were to follow their lead you might actually garner some respect in the industry. For those of you thinking that I am just a disgruntled ex-employee who did not have what it took to make it, I am still a financial advisor, I just work at Morgan Stanley now. Being a financial advisor is the hardest sales job in existence and firms like AXA are a blight on the industry.


  9. Helpful (2)

    "Financial Professional"

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

    Pros

    They will set you up with good study materials for the Series 7 & 66. You have to pay for them, however.

    Cons

    Do not work for them right out of college. They only pay commission after the first month of training, and they tell you to sell life insurance to your family to make money. They also throw you out into schools immediately, to push products you know nothing about yet.

    Advice to Management

    Be more upfront about the commission schedule.


  10. Helpful (2)

    "Losing proposition"

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

    Pros

    Nice people. Can't come up with 20 words that would be pro comments for this company.

    Cons

    Absolutely the worst payout of commission in the industry. Only a few proprietary products. Only one excels over the competition. No base salary. Employee pays for all expenses, including office space, study material for exams and testing. Even after multiple years, made less money then when I was in HS! Very little internal training. No guidance in marketing, prospecting or financial strategies. Every new hire in 4 year period, left AXA for competitive companies.

    Advice to Management

    Get a grip! Your employees should be your greatest asset. Treat them and pay them like it.


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