AXA Advisors
2.9 of 5 239 reviews
www.axa-equitable.com New York, NY 1000 to 5000 Employees

AXA Advisors Reviews

Updated Apr 15, 2014

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2.9 238 reviews

                             

79% Approve of the CEO

AXA Advisors Chairman and CEO Henri de Castries

Henri de Castries

(56 ratings)

41% of employees recommend this company to a friend
63 Employee Reviews Back to all reviews
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Grinding sales role

Financial Advisor (Current Employee)
New York, NY (US)

I have been working at AXA Advisors full-time

ProsPeople are great and the managers are all incredibly smart and talented.

Conslong hours, 8 to 8 everyday, cold calling is what you'll spend 80% of your time doing.

No, I would not recommend this company to a friend

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Good Learning Experience

Financial Professional (Current Employee)
Houston, TX (US)

I have been working at AXA Advisors full-time for more than a year

ProsFlexible Schedule, Make your own hours, great coworkers

People I worked with were very friendly and helpful when asked a question.

ConsVery sales driven, which is not what I expected. Lots of pressure to hit minimum 'numbers'.

Typically long hours, and not much emphasis on work/life balance.
Lots of fees associated with running your 'business'.

Advice to Senior ManagementBe more upfront about job expectations and during interview process including fees and expenses, amount of time spent in field, income expectations.

No, I would not recommend this company to a friend

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Employment requires more luck than hardwork

Financial Consultant (Former Employee)
Stamford, CT (US)

I worked at AXA Advisors full-time for more than 3 years

Pros*Free to set schedule (most of time, if traditional, or non-RBG group)
*Easy to join even with no finance background; may help you get experience other firms need before they'll consider you.
*Online training and frequent branch training (though sometimes too frequent).
*Cumulative quotas means, if you are lucky, one big case can set you ahead for years. (Though falling behind can also make the next "validation" period much harder.).

Cons*High turnover rate - majority stay less than a year; better (or luckier) offices keep maybe 25% of new hires past 4 years, though a lot retain less than 5%.
*Rigid quotas (Contrary to popular opinion, they CAN make AN exception once if you miss the deadline however it's VERY rare. Even if you do, you must make up the missing production on top of your next quota or else.)
*Sure, can set own schedule, but new "advisors" should expect to spend 80% or more of their time as a telemarketer/mailbox stuffer if you want to stay expect 80+ hrs/wk unless you have a lot of rich friends/family or if you pay for an assistant.
*Cannot retain clients upon leaving. Your accounts will eventually be given out in orphan call lists for other new hires to telemarket. (Note: Plenty of firms do not put a non-compete in their contract.)
*Even if you close more life sales than your peers, a string of bad luck could cause every one of your cases to be rejected by underwriting.

Advice to Senior ManagementBranch and district managers: Thanks for the training and all your support the past three years.
Divisional/national VPs: While quotas are necessary to maintain the bottom line, consider giving un-validated DSF/ESF an option to stay if they pay for their office space/expenses. Thus, those destined to fail no longer suck company resources and those who simply had really back luck with underwriting don't become a competitor with intimate knowledge of AXA's market.

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Internship

Intern (Former Employee)
New York, NY (US)

I worked at AXA Advisors as an intern for less than a year

ProsLearned how to work the phone

ConsA large amount of down time

Advice to Senior ManagementMore structured internship

Yes, I would recommend this company to a friend

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Good Sales Training / Poor Sales Leads

Financial Representative (Former Employee)
Columbia, MD (US)

I worked at AXA Advisors full-time for more than a year

ProsIf you already have a network of people who you can target for financial services, there is the potential for significant income. Allows you to use products outside of AXA, but it is not encouraged. Good sales training.

ConsPotential clients aren't familiar with AXA. Expect to be on the phone making a lot of cold calls if you don't have a lead network in place. This would be fine, except that you have to pay for/produce the leads yourself. For younger individuals, it focuses more on annuities then on managed money to accumulate wealth, which is more expensive for the client.

Advice to Senior ManagementWould be easier for those starting out if they worked under a mentor. Sales could be supplemented by supporting mentor. Base salary. Have a system in place to provide leads.

No, I would not recommend this company to a friend

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AXA Advisors Internship

Wealth Management Intern (Former Employee)
New York, NY (US)

I worked at AXA Advisors as an intern for less than a year

ProsGot to work directly with a wealth management adviser.
Received a lot of responsibilities right away in researching various mutual funds.
I also was able to accompany my supervisor while she met with clients and brought me along on presentations of various mutual funds.

ConsA lot of administrative work.
Many days of making copies, faxes, and scans.
Work also consisted of researching new clients for the firm which consisted off filling up phone lists during the evening.

Advice to Senior ManagementUse more mentorship to show interns how portfolios are set for different clients. Teach interns, and give them more responsibility rather than administrative tasks.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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"A great way to get started in financial advisory."

Anonymous Employee (Current Employee)

I have been working at AXA Advisors full-time

ProsThe company offers many financial services and thus offers advisors multiple platforms to earn and find their own personal niche.

ConsDo not expect to learn /or apply much about financial concepts. This is pretty much sales job. Requires a lot of initial personal investment (time, licensing fees). Hopefully you get a good manager (as I did) that will help you get a foothold in business early before you start to branch out.

Advice to Senior ManagementSupport your advisors as far as infrastructure or tools. This is a major global corporation and advisors should not have to go into their own pocket to enhance their marketing capabilities.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Able and willing!!!

Anonymous Employee (Former Employee)

I worked at AXA Advisors

ProsAwesome training for those new to the industry and/or profession. It's truly graduate level training at least twice a week. Homework assignments and all but for real life scenarios and client interactions.

ConsMake sure you know your fellow associates well because they will steal commissions which is important because you start out pre-contract (100% commission).

Advice to Senior ManagementPaid Training!!!!

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after being independent for years AXA seemed like a nice fit for a career agency

Financial Planner (Current Employee)
Sarasota, FL (US)

I have been working at AXA Advisors full-time for more than 5 years

ProsBranch Manager in Tampa Florida was great

ConsCompliance and expense no district manager in Sarasota

Advice to Senior Managementfind a way to lower advisor expenses

Yes, I would recommend this company to a friend

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Local branch managers make/break your experience. Mine was great.

Financial Advisor (Former Employee)
Wichita, KS (US)

I worked at AXA Advisors as a contractor for more than a year

ProsGreat training for consulting process. Very systematic in weekly sales meetings- not just ra ra sessions; focused on helping the producer. Fair payout if you're willing to work. Great opportunity for those who push themselves.

ConsThey require you to have a minimum percentage of your production be with proprietary products- thankfully they have some pretty good products. Some in upper management get to pushing the company Kool-Aid in a heavy handed way. If you stick to doing right by the client you'll be okay.

Advice to Senior ManagementToo proprietary product focused... it's a dinosaur business model. Also, not a single advisor, not even the 30 year veterans, were able to read commission statements.

Yes, I would recommend this company to a friend

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