AXA Advisors Interview Questions.

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Host

It's always hard to know what to expect when going in for that interview -- and preparation can make all the difference. What is the interview process like at AXA Advisors?

Any advice on striking the right note?

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Rob in East Orange, New Jersey

87 months ago

Financial Consultant in Paris, France said: The interview process is a long drawn out process, which is in itself a sales tactic. The first meeting, they will show you a video, you will meet with "successful advisors" who will later admit to you that they despise the job.

The second meeting occurs if you select to be contacted by the firm. During this meeting, you are promised tons of money. If you even decide to return, make sure to document ALL the oral agreements because so much as a sneeze on your part shows consideration and makes the contract legally binding. They will make you interview at least 4 times, after which you have already invested so much time, that most people come aboard.

Pretty accurate, Only in NYC, they didnt promise me tons of money, but they did tell me that the person that made the least cleared $48000 USD last year.

That got me. Im testing for them, but keeping my options open

We'll see.

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Fred Willets, Cherry Hill, NJ

80 months ago

Financial Consultant in Paris, France said: The interview process is a long drawn out process, which is in itself a sales tactic. The first meeting, they will show you a video, you will meet with "successful advisors" who will later admit to you that they despise the job.

The second meeting occurs if you select to be contacted by the firm. During this meeting, you are promised tons of money. If you even decide to return, make sure to document ALL the oral agreements because so much as a sneeze on your part shows consideration and makes the contract legally binding. They will make you interview at least 4 times, after which you have already invested so much time, that most people come aboard.

Once onboard the bs really piles on.....you are encouraged to sell to every friend and relative you know. Then you are to pressure these people into opening up their network of friends and relatives for you to con into buying expensive insurance policies and poor
performing mutual funds. You end up having to hide from relatives and friends, hating yourself for hurting people, and NOT making the big bucks you are promised up front. It is worse than selling Amway!

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A4Fd in Saddle Brook, New Jersey

80 months ago

Fred Willets, Cherry Hill, NJ said: Once onboard the bs really piles on.....you are encouraged to sell to every friend and relative you know. Then you are to pressure these people into opening up their network of friends and relatives for you to con into buying expensive insurance policies and poor
performing mutual funds. You end up having to hide from relatives and friends, hating yourself for hurting people, and NOT making the big bucks you are promised up front. It is worse than selling Amway!

Damn fred, You know it depends who you are dealing with.

My manager's partner has been on me for contacts but my manager told me not to worry about it.

Everyone is different Come to the Broadway office!

However, i can be speaking too soon.....

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bh22 in Iselin, New Jersey

79 months ago

A4Fd,

can i please contact you personally though email..i have questions regarding axa

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A4Fd in Saddle Brook, New Jersey

79 months ago

bh22 in Iselin, New Jersey said: A4Fd,

can i please contact you personally though email..i have questions regarding axa

Sure, send to Dredabig@yahoo.com

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Fred Willets, Cherry Hill, NJ

79 months ago

sure!

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Evr in Austin, Texas

78 months ago

"legitimately" acquired visitor's pass. You stalk the halls and peer into classrooms hoping to find a teacher during a conference period and you walk in uninvited and introduce yourself and try to make more meetings with prospects. It is supposed to branch out from there and you eventually are to infiltrate the whole school. Here's the best part about this model: you literally sign a contract with the districts agreeing not to do exactly what you're doing. You sign a Solicitor's Agreement saying that you will not conduct business meetings on school property, even if the teacher consents. You agree not to solicit new prospects, and that you can only go onto school property if a current client requests you to. So essentially what this boils down to is the company is sending you into a building that you're not supposed to be in, you explicitly agree in writing not to do what you're doing, and you walk door-to-door and bother teachers without their consent in the hopes of selling them an annuity, or preferably life insurance. The commission rate isn't particularly high, and besides, teachers aren't a particularly high income demographic to pursue. Oh and I forgot to mention, you also have to give your manager 20% of all of your commissions for "training" you. And by training I mean he/she holds your hand and lets you shadow him/her for approximately 2 weeks before kicking you out of the nest and expecting you to fly like a pro. For the most part, this position is a door-to-door insurance sales job. It's almost as bad as cold calling, except it takes much more energy and money to drive all over town from school to school just to get shot down. Oh and by the way, gas expenses are also on you.

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A4Fd in Saddle Brook, New Jersey

78 months ago

Great feedback.

But In texas, its diff from metro areas maybe?

Cant say that for the rest of the country

Dont worry, w/ a series 7 license, you can get almost any job

I figure i get my foot in the door w/ these guys and make moves from there , learning all I can along the way.

Still studying for my 7 which i failed last month :(

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Evr in Austin, Texas

78 months ago

From what I've researched, this is the business model for all of RBG throughout the country. The RBG focuses on the educational market. An "advisor" in Colorado recently plead guilty to all sorts of fraud. Here's a link: www.planadviser.com/compliance/article.php/1657 and another: www.plansponsor.com/uploadfiles/Axaindict.pdf. The expenses of doing business are ridiculous, the main one of which is gas. The company doesn't help you pay for any of these normal expenses such as office supplies, gas, a computer, or even these blue welcome packets that you give to new clients once they have signed on the dotted line. Evidently, soon you will even have to pay rent on your cubicle. Plus there is an Errors & Omissions Insurance you are required to purchase as an advisor. It's true that you can deduct all of these expenses from your taxable income, but it's still money that's coming out of your pocket, whether or not you have to pay taxes on it or not. The managers will make promises of "limitless" income which in theory is true. But in reality, I think one would have to be lucky and extremely persistent and talented to even make around 30k for the first year, given the steep learning curve. Now take out all of those above expenses and you're probably looking at about 25k. That comes out to about $12/hr. Most full time waiters at the average restaurant make more than that. Those numbers are all somewhat speculative, admittedly. But the fact is that the company doesn't help you in basically any way. They just sit back and tell you to go out and make sales. However, there is ONE thing that I am grateful for AXA for: they sponsored me to get my 7 and 66 licenses. Even though I had to pay for them cause the company doesn't care about anyone. By having these licenses I was able to get a job at Charles Schwab, where I currently am right now and am immensely more happy. Schwab currently wasn't looking for unlicensed people quite yet so having these licenses was very

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Eric Zimmerman in New Haven, Connecticut

76 months ago

Rob in East Orange, New Jersey said: Pretty accurate, Only in NYC, they didnt promise me tons of money, but they did tell me that the person that made the least cleared $48000 USD last year.

That got me. Im testing for them, but keeping my options open

We'll see.

Rob,

Please for the love of God , get out. The company is a scam. My business partner and I left and started our own company. Don't do it.

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Eric Zimmerman in New Haven, Connecticut

76 months ago

bh22 in Iselin, New Jersey said: A4Fd,

can i please contact you personally though email..i have questions regarding axa

Email me at e.zimmerman@sbcglobal.net. I can tell you all you need to know and nothing is good.

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C in the D in Michigan

76 months ago

I would put little or no weight on the advice of Evr. While I can't speak to the personal experiences he may have had with AXA, he is obviously painting an entire company with a broad brush based on interactions with a limited number of people.

Just remember, only the relatively few people who are unhappy with a company will come online and complain. The successful people could probably care less about what is said here.

If you are happy and like the environment where you are, go for it. Just decide for yourself (not that you sound like you wouldn't).

Pulling one incident of fraud and using it to bash AXA just shows Evr's determination to be pissed off. You could probably find similar articles about any company, good or bad.

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C in the D in Michigan

76 months ago

Evr,

You seem to be hung up on all of the initial costs (financial/time/work/etc...) while admittedly not sticking around long enough to reep any of the benefits. If you were unaware of things it is your own fault for not doing the homework to find out (unless of course your managers flat out lied to you).

Yes you are an employee, but the business is very entrepreneurial in the sense that you will lot of hard work initially and sometimes not see rewards. The idea is that this eventually pays off and rewards you above and beyond. This IS NOT EASY. If anyone told you it was they were wrong.

If you are looking for a salaried 9-5 job there is nothing wrong with that, but you certainly should have known this was not the case.

Note: regarding my last post www.floridasecuritiesfraud.com/securities_pgs/brokerage_fraud.html

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Fred Willets, Cherry Hill, NJ

76 months ago

AXA is a scamming, lying, rotten company. Avoid it like it is the plague. Terrible employer.

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Evr in Austin, Texas

75 months ago

C in the D,

Well I'm certainly the first to admit that I am a little determined to be pissed at AXA and am really here just to vent some of my anger with them. I can also agree that if you dug deep enough, you could probably find dirt on any company out there. The initial costs and the costs of doing business are one of the down sides of the job, but probably not the source of my discontent with the job. The majority of my frustration comes from the fact that they didn't pay me some of the commissions I had earned. After making a 403(b) sale, it's supposed to take <2 months to get paid, cause the salary reduction should be effective on the next paycheck for the teacher. I had quit after making some sales, but before getting paid for them. I still felt that I should be entitled to the commissions based on the work that I had done. Apparently, AXA felt otherwise. All of the incoming commission I had was forfeit when I quit. The even more irritating part is that some of those commissions were actually for sales that took place up to 4 months prior, so those should have come in, but for some reason did not. It wasn't a terribly large amount of money, it was really the principle that got to me. That fact that they wouldn't pay me for work that I did. And when it comes to the actual job itself, the manager that hired me was a brand new manager recruiting his first crew of henchmen to go out and make sales and give him 20% for no reason. My interview was less of an interview and more of a sales presentation. And being fresh out of college, I can concede that I didn't have all of the right questions to ask in the first place. So I didn't fully understand the job itself, but didn't have much of a choice since I just needed to get the ball rolling. I was under the impression that you were really more of a "financial consultant" since that was the job title, where you actually helped people make important decisions about their money and financial picture. I wasn't fully

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Evr in Austin, Texas

75 months ago

expecting it to be a high-pressured sales job that had absolutely nothing to do with the market, or investment decisions of any sort. It was dumbed-down so far that all the prospect had to do was to specify conservative to moderate to aggressive, and let AXA do the rest (which I'm sure they put them into their proprietary funds anyway). I had expected to actually take a more active role in deciding investments, analyzing stocks, etc. as a financial consultant, not just try to sell teachers annuities. And as far as the compensation goes, I knew it was performance based, but I didn't realize it was 100% commission. When I heard performance based, I thought along the lines of % of assets under management and better investment performance would yield better compensation. Not simply a %-based commission to rely on fully. But once again, it just comes back to me not asking the right questions, which I can admit. Either way, I'm not entirely ungrateful to the experience, as it helped me get a job at Schwab. But yes, I'm still pretty pissed that they didn't pay me what they owed me.

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Enrico in Yokosuka, Japan

75 months ago

Evr,

I would really like to hear more about AXA, I currently have several offers on the table, one of them being AXA in pittsburg. I was unaware of the initial costs involved. I am meeting them in July and was searching as much information as possible before making my final decision. I was told that you start with a salary base and it would be your choice whether you move to 100% commissions. My perspective is that this job is a financial advisor but the more I read into it, and correct me if I'm wrong, it's a sales job. I was skeptical when I heard from the interviewer over the phone about the average starting salary being 120k, without mentioning any cost involved. Thanks for your post.

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Fred Willets, Cherry Hill, NJ

75 months ago

Do not, I repeat, do not believe what the AXA people tell you. They lie through their teeth to get people involved. You will be lucky to make $30,000. a year the first few years. And that is by selling life insurance to everyone you know. They train you to sell variable life insurance for everyone as an investment. They are controlled by their parent French company, and have nothing to offer you in return for you selling to every family and friend you presently have to market to for them. Once you have sold your friends, you are taught to get everyone of their friends to buy their over-priced life insurance and annuities. They have you sell the worst mutual funds on the market, too. Your commissions are meager as their managers and vp's over you take a big chuck of your earnings for doing nothing to support your efferts. Run as fast as you can away from AXA.
Best wishes for success securing a real career path position.
F.W.

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Enrico in Yokosuka, Japan

75 months ago

Fred Willets, Cherry Hill, NJ said: Do not, I repeat, do not believe what the AXA people tell you. They lie through their teeth to get people involved. You will be lucky to make $30,000. a year the first few years. And that is by selling life insurance to everyone you know. They train you to sell variable life insurance for everyone as an investment. They are controlled by their parent French company, and have nothing to offer you in return for you selling to every family and friend you presently have to market to for them. Once you have sold your friends, you are taught to get everyone of their friends to buy their over-priced life insurance and annuities. They have you sell the worst mutual funds on the market, too. Your commissions are meager as their managers and vp's over you take a big chuck of your earnings for doing nothing to support your efferts. Run as fast as you can away from AXA.
Best wishes for success securing a real career path position.
F.W.

Fred,

Thank for your input, I'm hearing more and more of the same.

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Ben Neiman in Las Vegas, California

75 months ago

For Anyone interested in AXA,

I have been with the company for over 1 1/2 years. I enjoy it. I am not going to sugar coat my remarks, and honestly the first year was very difficult. I often dipped into my savings to pay the bills. I made $35k in that first year. This year I am much happier, I am on track to make $55k. I work on the traditional side, so I can’t comment on RBG. I specialize more in asset management, asset protection, and estate planning. If you are bright, willing to work hard, and a good networker this is a great place to work at. If you are lazy, unintelligent and want to simply push products than AXA is not the place for you.

AXA’s platform allows you to sell almost any financial product under the sun and so you are inherently quite competitive with the other FCs out there. Ideally you want to match AXA's own products with a clients’ needs, but you have to be smart enough to know when other mutual funds, stocks, and insurance products are more suitable. Unfortunately too many folks join AXA and do not realize the great platform that AXA offers and get pigeonholed into selling to their family, friends and relatives financial products that are needed. When you start you need to think of your OWN business plan and find places where you can really benefit people.

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Fred Willets, Cherry Hill, NJ

75 months ago

What was your hourly rate for the 35-55K? You have reached your max!

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Erin Zhang in New York, New York

75 months ago

I was also thinking of using AXA as a stepping stone, but is it really that bad in AXA? Even in the Broadway office?!

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JPhilip Ab in El Paso, Texas

74 months ago

Evr in Austin, Texas said: expecting it to be a high-pressured sales job that had absolutely nothing to do with the market, or investment decisions of any sort. It was dumbed-down so far that all the prospect had to do was to specify conservative to moderate to aggressive, and let AXA do the rest (which I'm sure they put them into their proprietary funds anyway). I had expected to actually take a more active role in deciding investments, analyzing stocks, etc. as a financial consultant, not just try to sell teachers annuities. And as far as the compensation goes, I knew it was performance based, but I didn't realize it was 100% commission. When I heard performance based, I thought along the lines of % of assets under management and better investment performance would yield better compensation. Not simply a %-based commission to rely on fully. But once again, it just comes back to me not asking the right questions, which I can admit. Either way, I'm not entirely ungrateful to the experience, as it helped me get a job at Schwab. But yes, I'm still pretty pissed that they didn't pay me what they owed me.

hey Evr I just graduated from UT, and I got offered a job at their office in mopac. I just wanted to ask, is the traditional position just about the same as the one you had applied to. Like you I'm just eager to get a job, any for that matter. Any suggestions?

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Fred Willets, Cherry Hill, NJ

74 months ago

Host said: It's always hard to know what to expect when going in for that interview -- and preparation can make all the difference. What is the interview process like at AXA Advisors?

Any advice on striking the right note?

Do not, I repeat, do NOT waste your time going to an interview with AXA/Equitable. They do not reject anyone. What does that tell you about the company? They simply take advantage of people. You will be used to the max by their managers to sell terrible products that are overpriced. Their fees eat the clients gains, and you end up with very unhappy people chasing you! Find a real job.

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Evr in Austin, Texas

74 months ago

JPhilip Ab,

That was the office I worked at for all of 3 months. I probably know the manager you're talking with. I wouldn't work there. You can shoot me an email at evanew@gmail.com if you have any questions about my experience, I'd be glad to share them. I'd feel like I accomplished something if I saved you from getting a job there.

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J Costa in Neptune, New Jersey

73 months ago

This sounds just like Bankers Life & Casualty. Got sucked into that and now today I received a call from AXA. Almost fell for going in for that first "interview" because they put word financial in front of it and almost didn't see it coming. Not gonna do it this time! Nope, I had my fill with Bankers and this is the same damn scam. I can smell it a mile away. At Bankers you went in for the first interview which should have been the first red flag. You go into a rally room with football crap all over the place and a score board. I thought to myself, is this AL Williams all over again. Second red flag was to get you to come back for the second round, which I foolishly did. In the second round they still did not ask any questions about me. Third round was the "one-on-one" and it was still, all about them and what they are going to do for me. They didn't even know my background let alone if I a criminal. Went and got my license and the fun began. No training, just thrown to the wolves with another fresh piece of meet to assist you. I knew more than they did. What a joke. If AXA is anything like this, I won't even give them the common courtesy of canceling. I just won't show up.

Tired of the scams and lies in this world. How do they sleep with a clear head. Hope they get what is coming to them.

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Fred Willets, Cherry Hill, NJ

73 months ago

Same old, same old...best wishes for success finding a real job, with a company that has integrity and something to 9ffer you for your hard work.

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STL in Saint Louis, Missouri

69 months ago

Fred Willets, Cherry Hill, NJ said: Same old, same old...best wishes for success finding a real job, with a company that has integrity and something to 9ffer you for your hard work.

Fred,

So who would you consider talking to for a financial advisor position? Any suggestions? My options here in Saint Louis are pretty limited, but I want to find a reputable company...

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Donkey in Fort Worth, Texas

68 months ago

Evr from Austin, TX has made some excellent points. As I read what he had to say I started to realize he was talking through exactly what I have dealt with over the past few weeks. Four interviews later and the exact job description that Evr offered, I sat at a table in Dallas, TX today only to learn of all the fees one must pay, the contracts one must sign and the basic rights one must give up in order to service AXA.

Obviously this type of job will require licensing fees, etc. However, AXA itself is not willing to invest in its own employees, at all. My very best friend who currently works for UBS warned me about the scamming ways AXA utilizes to acquire employees and I was saddened to realize he was absolutely correct on all accounts.

To anyone who is looking to begin a lucrative career with AXA, do some research. I know there are a few people here who defend the company, but I can assure you with utmost accuracy that you will indeed run into the exact hurdles that have been described above.

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Donkey in Fort Worth, Texas

68 months ago

As for the process, you will be required to fill out a "Natural Market Profile" detailing as many people you know of who make between 75k-100k per year. This of course will be introduced to you during your 1st or 2nd interview, with the pressure already on you to know at least "100" prospects that fit within this range (Exact wording, 100 prospects making 75k-100k per year). If you fail to produce a significant amount of prospects for your "Natural Market Profile", you will then be pushed over to the RBG side of AXA. I need not go into details about this side as Evr has clearly and accurately covered it as well.

Again, and as my final word, do your research and always be skeptical of any company not willing to invest in its employees without the employee making significant sacrifices beforehand. To even be contracted you will have to obtain approximately 25 clients, pass testing (which is understood), and reach other goals. No pay, at all, for at least six months.

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Evr in Austin, Texas

68 months ago

Here's an update. I don't remember if I detailed this in any of my posts, but after leaving AXA, I was told by my manager that I would be paid for all the commissions for sales I had made that were in the pipeline that hadn't hit quite yet. Typically, when you have a question about your job, you ask your manager, and TYPICALLY, they actually know the answer with some remote degree of certainty. Well, AXA isn't the typical company. I was never paid on the incoming commissions, and I imagine they all went to him anyway since they have to go to someone (convenient). So first of all, AXA screwed me by not paying me on sales I legitimately made. This was about a year ago. Recently, I received a "Recovery Plan Statement" that mentioned negative commissions and unpaid premiums and that I actually owed them money! I just now got a notice from some debt collection agency trying to collect on that balance. Bottom line, AXA will screw you by not paying you for work you do, and also by trying to take back what they actually do pay you. Leaving them was by far the best career decision I've ever made.

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restless828 in Diamond Bar, California

68 months ago

i got a phone call from AXA today. they said they got my info from monster.com, and asked me to come in for an interview. i didn't know anything about the company, nor did they mention anything about what the job entails, so i decided to do some research on the company, and stumbled upon this forum.

so the general consensus is, 1) don't go to the interview, and 2) don't work for AXA.

is this a pretty accurate summary?

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Questions Questions in New York, New York

68 months ago

I have an interview with the AXA soon... It seems I have been spending far too much time studying the company and too little finding out what the real deal is about the position.

I'm going to go along for a laugh anyway.

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sukie keinath in Frankenmuth, Michigan

67 months ago

All these comments are disturbing as I have worked for AXA for a few months. I have been treated extremely well by AXA. They have ensured that I and the other reps are fully trained and the experienced agents help us all the time. My DM is very focused on ensuring that we succeed. I know she gets an override on my production, but since she works so hard to develop my skills I do not mind.

I am not a young financial advisor. I worked as a retail manager for 30 years. Believe me when I say that I have been treated better and respected for my experience that I ever was when I ran department stores and districts. I can set my own hours as long as I keep producing. I was not promised a particular salary, but the best thing about it is there is no cap on what I can make.

Far from slaving for all those years for thoughtless degrading regional retail mgrs who treated you as if you were dirt, I am treated as an esteemed colleague. As I had recruited, trained, and developed personnel for 30 years I am very experienced in business law (I have an MA in Business Mgmt) and my 3 interviews went by the book. No promises that haven't been kept; no questions that were against the law. No puffery or fake rah-rah decor went into anything I experienced. The people at AXA are pure professionals and very careful not to make fallacious claims to client or to potential colleagues.

The compliance department is second to none in the financial industry and is one of the reasons that AXA is doing well in this recessionary environment.

They paid me back for my books, training, and all other materials I needed to get my license.

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sukie keinath in Frankenmuth, Michigan

67 months ago

restless828 in Diamond Bar, California said: i got a phone call from AXA today. they said they got my info from monster.com, and asked me to come in for an interview. i didn't know anything about the company, nor did they mention anything about what the job entails, so i decided to do some research on the company, and stumbled upon this forum.

so the general consensus is, 1) don't go to the interview, and 2) don't work for AXA.

is this a pretty accurate summary?

I have worked for AXA for a few months. I have been treated extremely well by AXA. They have ensured that I and the other reps are fully trained and the experienced agents help us all the time. My DM is very focused on ensuring that we succeed. I know she gets an override on my production, but since she works so hard to develop my skills I do not mind.

I am not a young financial advisor. I worked as a retail manager for 30 years. Believe me when I say that I have been treated better and respected for my experience that I ever was when I ran department stores and districts. I can set my own hours as long as I keep producing. I was not promised a particular salary, but the best thing about it is there is no cap on what I can make.

Far from slaving for all those years for thoughtless degrading regional retail mgrs who treated you as if you were dirt, I am treated as an esteemed colleague. As I had recruited, trained, and developed personnel for 30 years I am very experienced in business law (I have an MA in Business Mgmt) and my 3 interviews went by the book. No promises that haven't been kept; no questions that were against the law. No puffery or fake rah-rah decor went into anything I experienced. The people at AXA are pure professionals and very careful not to make fallacious claims to client or to potential colleagues.

The compliance department is second to none in the financial industry and is one of the reasons that AXA is doing well in this recessionary environment.

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nwvt420 in Charlotte, North Carolina

67 months ago

Ben Neiman in Las Vegas, California said: For Anyone interested in AXA,

I have been with the company for over 1 1/2 years. I enjoy it. I am not going to sugar coat my remarks, and honestly the first year was very difficult. I often dipped into my savings to pay the bills. I made $35k in that first year. This year I am much happier, I am on track to make $55k.

Just out of curiousity, is that $55 before or after your expenses? And you are aware that you will have to start renting an office next year right? That alone will cost you over $8000/year for a cubicle, or $11,000 for an actual office. My boss made $102K, but after subtracting the $38,000 in expenses, in REALITY, he made $64,000, and worked over 65 hours a week for years. Recently, he quit and works for a brokerage company, where he makes twice the commission to sell the SAME EXACT AXA PRODUCTS.

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Former AXA Employee in LA, California

67 months ago

Here is my advice to anybody who wants to work at AXA. Don’t! I say this as a former AXA manager and because AXA is an insurance company and uses an insurance model, meaning AXA will push you to sell AXA insurance products and train you on why insurance products are better than investment prodcucts, they frown on the use of non AXA products and all AXA products are insurance based and very expensive. AXA does not want you to sell individual mutual funds, stocks or bonds, instead they want you to sell their variable annuity called Accumulator. You sell this to your family and friends by telling them how wonderful it is and how it is far superior to any brokerage account and this is all false, it is in-fact not even a good Variable Annuity much less a good brokerage product. There are far better products that cost less and perform better. AXA also wants you to sell its extremely expensive life insurance products. They frown on you selling any term life insurance. AXA wants you to sell only permanent life insurance which is far more expensive and in the majority of the cases unwarranted. AXA will tell you will be doing financial planning but AXA’s financial planning is only a way to sell more life insurance products and more Variable Annuities. For example they will do estate planning by selling life insurance but do not the majority of the planning that is required for a true estate plan.

The biggest problem with AXA is how it uses its new hires. What a new hire does at AXA is grow their manager’s book of business by finding new clients to work with. When I hired a new financial consultant I know 9 out of 10 would fail within the first year and the one who made it into their 2nd year would probably fail. At AXA we taught new advisors to get their low hanging fruits, meaning their family and friends and get them as clients. Once you run out of easy to gain clients you are very likely to be out of the business and the manager inherits your clients afte

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h2ozep in California

65 months ago

By signing up with AXA are you bound to them? I know that with a firm like Edward Jones that it is 3yr contract and if you leave and join another firm you owe them 75k. Does AXA have something like that?

Also, from the last post it seems that your book of business is not your own if you leave. Is this correct?

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servo in Pittsboro, North Carolina

65 months ago

I just joined to say that everything Evr has written is exactly the truth. Please, if you're considering anything to do with AXA, read his posts, all of them. I went through the same thing he did, word for word.

Scott,
Raleigh, NC

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h2ozep in California

65 months ago

servo in Pittsboro, North Carolina said: I just joined to say that everything Evr has written is exactly the truth. Please, if you're considering anything to do with AXA, read his posts, all of them. I went through the same thing he did, word for word.

Scott,
Raleigh, NC

Scott,

When you left where you able to go to another financial company? Also, where you able to take your book of business with you?

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servo in Pittsboro, North Carolina

65 months ago

h2ozep in California said: Scott,

When you left where you able to go to another financial company? Also, where you able to take your book of business with you?

Well, I haven't been able to find a job with another company yet, but if I did, it would not be the type of job that AXA wanted of me, which was a straight insurance salesman job. As far as taking the book of business with me, no, all of the work I did with AXA was for them, unfortunately. I have been considering contacting most of my old clients and letting them know how the company works, however.

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gotgame in New York

63 months ago

servo in Pittsboro, North Carolina said: I just joined to say that everything Evr has written is exactly the truth. Please, if you're considering anything to do with AXA, read his posts, all of them. I went through the same thing he did, word for word.

Scott,
Raleigh, NC

Scotts right on what Evr said(read his post to the T, everything is corrrect) I am currently emloyed by axa for that specefic division. 2008 was my first full year i made 43 K. But my wife netted more money and she was a admistrative assistant who made 30 K last year. I am Disgusted. Currently i am seeking alternate employment, even with this horrible economy.

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jefferson15 in Pennsylvania

63 months ago

Economy is rough. I just graduated a couple weeks ago. I am about to turn in my paper work to start with AXA.

It was my only job opportunity and I liked the idea of getting my licenses (I don't mind paying for them). It will take a couple months to get the S7 and S66 licenses before I start actual work.

If I were to leave AXA at some point, can I use my licenses elsewhere? I know I can't take my book of business, but am I free to use my licenses with a different financial company or private business?

I don't mind the selling aspect of the company, but if I don't believe that what I am selling is the best thing for my clients, then I couldn't sell it. I can't knowledgably lie to people like that. I will have to see and understand these products myself. I will let you know my thoughts when I get further in.

At least I am getting licensed, that has to help me in the job market, right?

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r phalon in new york, New York

63 months ago

I just interviewed with AXA in the city. It was weird. The interview itself only lasted about ten minutes, and the interviewer told me there were 3 types of positions available, a back office position that offers a base, a financial advisor position that is 100% commission, and an assistant position that offers a base as well. I told them I could see myself doing the assistant position since I dont have a book of business.

What I also found strange was that I didn't interview with the person I was originally supposed to meet with. I was told that my resume would be forwarded over to the department that hires the FA assistants and that I would hear from them in two weeks or so.

Anyone else get presented with this?

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kingany in Westbury, New York

63 months ago

Damn this is horrible. I have an interview with this company today AXA Advisors in Lake Success, NY...I am disappointed to hear all of this though I cant say that it will prevent me from interviewing. I've been in finance for a longtime but I cant afford to go 6 months and not make money, even 2 months would kill me. Funny thing is they said it would be base and commission which is how most of the larger finance firms operate. I do not want to sell life insurance and I definitely have no interest going door to door. What to do?

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servo in Pittsboro, North Carolina

63 months ago

Before I allowed my window to close on AXA, I had over 4,500 PCs that had not been paid to me from business I had done months before (and there was never any explanation on why the PCs showed up 3-4 months after the business was done). When the PCs did show up, it was within a couple of weeks before my window was going to close. I was told that I would not be paid for the business I had done because the PCs showed up too late and would not fall within a pay period. Essentially, months of work that I had done for AXA were for nothing.

Now, months later and trying to move on from this train-wreck of an experience, I receive a letter from AXA saying that I owe THEM $266. The reason was for "recovery plan balance", which happens, for example, if you are paid on an insurance case and then the person(s) cancel their plan - you owe AXA the money back.

It's impossible for me to believe, however, that they can expect me to pay them anything when they can somehow justify not paying me for all of the business I had done over those few months. So, not only are they eating the money I had made and not deducting this $266 from that balance, they want me to give them more of my money.

I've also received a claim form for litigation against AXA for unpaid hours and wages. It involves the consolidation of four separate lawsuits against AXA by former AXA Financial Sales Representatives. The litigation claims that AXA violates the federal Fair Labor Standards Act by failing to pay required overtime, the federal minimum wage, reimburse for all necessary business expenses, retain and provide accurate records of actual hours worked and wages earned, failing to pay all wages within the required pay period, and improperly deducting monies from wages. The settlement would be roughly $550.30, not nearly the amount I am due, but it's something.

Absolutely criminal. Avoid. Avoid. Avoid.

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servo in Pittsboro, North Carolina

63 months ago

kingany in Westbury, New York said: Damn this is horrible. I have an interview with this company today AXA Advisors in Lake Success, NY...I am disappointed to hear all of this though I cant say that it will prevent me from interviewing. I've been in finance for a longtime but I cant afford to go 6 months and not make money, even 2 months would kill me. Funny thing is they said it would be base and commission which is how most of the larger finance firms operate. I do not want to sell life insurance and I definitely have no interest going door to door. What to do?

If you take this position you will be an insurance salesmen, no question. That's all AXA wants you to do.

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KM11 in San Diego, California

60 months ago

Thank you for your comments. I am actually a teacher who unfortunately believed my sales representative. They are coming into our schools (220) and show up without appointments by walking around the to the classrooms. I do not know a lot about investments and trusted this district "approved vendor" only to find out my money from another company was moved and inappropriately invested. I am now being told of the penalties I will have to pay because the law changed (which I wasn't informed of except by another company) and that I am in such a good account, I shouldn't move my money (which I can't anyway without significant penalites). I just feel completly taken advantage of by this company and now I am stuck with them. I at least feel I am not going crazy and completely incompetant after reading the postings so thank you.

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Vish in Hillsborough, New Jersey

60 months ago

Seems like the consensus is the axa is not a good place right? We are talking about AXA advisors correct www.axaonline.com/index.html? Good thing I checked this forum out before I went in for an interview. Thanks everybody for saving me time and money.

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