Has anyone worked for AXA?

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Dec 23, 2005 2:37 pm

I am under pre-contract with them, which means I am studying for the series 7 and then the series 66. What does everyone think of the company? Has anyone worked for them and knows the pros and cons of the company? Is there anything in particular that they do different than any other company? Are there commissions better or worse than the industry? I appreciate any responses.


Thanks,


1Red 

Dec 23, 2005 5:54 pm

worked in RBG for 3.5 years... AXA is a good firm- but they are a glorified insurance company. they will push you to sell Equitable annuities and life insurance. All your benefits are tied into Equitable production...


Stay away from AXA. If you must stay, get your licenses, get some experience, then get out.... It is not a place to hang your hat long term....

Dec 26, 2005 1:39 pm

Where is a place that you can hang your hat long term with a better opportunity?

Dec 26, 2005 2:18 pm

they have made it very hard to stay there for a few years and leave..since most of their products have HUUUUUUGE CDSC..I stayed there for 1 1/2 years and went indy..that was in 2000 though, so times have changed...

Dec 26, 2005 3:21 pm

This whole "pre contract" thing is bs.  From what I understand they hardly pay you at all, and then you end up covering a lot of your office expenses(desk rental, parking, phone charges) once you are under contract.


I haven't heard much in the way of good things about them in all honesty...

Dec 26, 2005 4:05 pm

It's all true... You will be heavuily encouraged to sell their annuities, some of which carry 12 year declining CDSC- 6% for the first 6 years... When you do leave, the costs make it very difficult to move accounts, unless you blast them back into a bonus VA.


JoeDaMan is right in that you will be expected to cover most of your expenses. I used to pay  $165/month NET for E and O insurance, 90/month for computer/software costs, all postage, and my comp plan required me to sell a certain amount of AXA Equitable product to cover office rent, assistants, etc...


I can guarantee you that they will do a good job in training you on the industry, products, etc, but at the end of the day-


 ANNUITIES and LIFE INSURANCE are the ONLY ANSWER....

Dec 26, 2005 4:07 pm

I realized a year and a half in that it wasnt a good place long term, and began investing my clients in wrap accounts, brokerage IRA's, etc. That didnt pay the management as much, so there was some obvious friction there.... Left last year, and love it...

Dec 26, 2005 5:17 pm

That CDSC is sick!


And requiring you to sell a certain amt of prop product to cover rent and staf....you really wonder how they get away with it these days, or why their agents stay with them.


Do they really keep anyone with experience blarm?

Dec 26, 2005 6:41 pm

I would like to go indy in a few years but need the training first.... so is this a place that will give great training and experience?


thank you all for all your replys, especially on the costs side. I did not know about those

Dec 26, 2005 7:47 pm

Lets just say that they never recruited a capable, big time prodcuer from the competition. Our branch/ complex had 2-3 heavy hitters, but their product mix was something like 90% proprietary....


1Red- there are plenty of firms that provide good training. And the experience you generate is entirely up to you... I urge you to consider other options... Also, unless you find decent rollovers and have a defined niche market, you will starve under the salary ( it was 2k/month for 2 years, then declining after that...)..


Good luck to you- and your clients.....

Dec 26, 2005 10:20 pm

I previously worked AXA and honestly dont have a positive thing to say
other than I am glad I got my licensing.  What everyone else
stated is correct. 



In my case they somewhat mislead me in the interviews about the "pre
contract stage."  I was told that I would start on salary after
getting fully licesnesed.  After I was licensed I had to then wait
for the training in NJ to start on salary, then they added more
conditions, such as 3000 PCs and like 20 new TSA clients before I could
even see a dime (and that was after having to pay for all of my
licensing).  

Dec 27, 2005 10:40 am

Ahhhhhh..... RBG.... RBG.... RBG.....


Sell- TSA....TSA.....TSA....TSA.......

Dec 29, 2005 2:00 pm

The best place depends on the type of clients you have and what you want to do for them.  What is your business plan like?

Dec 29, 2005 6:51 pm

This is the only business where you can get people to work for free?

Dec 29, 2005 7:46 pm

A sales motivational speaker once said that "sales can either be the easiest, lowest paying job you'll ever have or it can be the hardest, highest paying job you'll ever have".

Dec 30, 2005 1:44 pm

Reminds me of my buddy a "branch manager" at RJF (indy) that doesn't

receive any compensation for his role as principal. "All the downside and

none of the upside."

Dec 30, 2005 6:50 pm
skeedaddy:

Reminds me of my buddy a "branch manager" at RJF (indy) that doesn't
receive any compensation for his role as principal. "All the downside and
none of the upside."


Does he have people operating under his OSJ?  If so, he should get an override on their business....

Dec 30, 2005 9:24 pm

So does the guy at Merrill but he also has another $225K-$350K on top of

that. Shouldn't RJF spot him at least $75K for added exposure?