AXA Advisors
2.9 of 5 237 reviews
www.axa-equitable.com New York, NY 1000 to 5000 Employees

237 Employee Reviews (View Most Recent)

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6 people found this helpful  

Big upside for right entrepreneur if you can navigate politics and understand management incentives working against you

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

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

ProsEntrepreneurial. Unlimited earnings potential, work as much or as little as you like, you're basically a small business owner. Open architecture, advisory and brokerage platform through LPL Financial (largest independent broker/dealer). Insurance products, in addition to AXA Equitable Life & Annuity can be sourced through other companies (MetLife, Genworth, Allianz, Prudential, Hartford, Genworth, WilliamPenn, Banner, etc). *See advice to management*

Cons"Eat what you kill" culture. Zero base salary, 100% commission. You need to find your own clients/prospects generally through old calling. Unless you have an established network that can provide sustainable/consistent lead sources, but that is the exception not the norm. Highly political management is all sales guys who are given incentives to increase their override over what's necessarily right for the advisor or client. *See advice to management.

Advice to Senior ManagementDistrict managers are incentivized to hire quantity over quality, and push proprietary products. This results in managers hiring whoever can breath, throwing them against the wall and seeing who sticks. Ultimately this results in a lot of people failing out of the business, but this is ok for managers because their compensation is heavily tied to first year proprietary production, where new advisors burn through their family, friends and network, and worst case are "cheap labor" cold calling for other advisors, which is justified as joint work to learn from more experienced advisors. Also managers push option 1 commissions where a higher one-time commission is paid out but no future commissions/fees are paid out because their override is tied to the bigger number and weighted more on new advisors than experienced advisors. This is bad for the advisor and client long-term: there is no longer an incentive for the advisor to service that client and the advisor is hurting himself by living sale-by-sale instead of growing a reoccurring revenue stream. It should be management goal for each advisor to build a practice that generates a reoccurring revenue stream - this will incentivize the advisor to stay longer and to service the client better. The advisor will have a more steady predictable income source and have a more valuable practice that can be sold at retirement to another advisor because the reoccurring revenue can be valued.

No, I would not recommend this company to a friend

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1 person found this helpful  

Limited direction, poor management.

Financial Advisor (Former Employee)
Peoria, IL (US)

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


Pros: Excellent product brokerage division. Senior employees who have been in the industry for… Cons: Managers unable to retain quality employees, as the training and… Advice to Senior Management: Re-evaluate the RBG program as a whole. More

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • No Opinion of CEO

 

Intern

Anonymous Employee (Current Employee)

I have been working at AXA Advisors as an intern


Pros: Rotation, flexible work hours, very nice people. Cons: Pretty much the only path you have as an option after the… No, I would not recommend this company to a friend More

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