I just had my first interview with AXA Advisors. I was seeing couple of other wirehouses like merrill & morgan and I pretty much know their history and reputation. I need some opinions for AXA. The differences btwn other wirehouses? their training program? salary? Anything you can think of I would appreciate it.
AXA is a hugh insurance congomerate based in Paris, France. They also partially own Alliance Capital, but their focus is mainly on life insurance and annuities. They are probably more like an insurance company than a wirehouse, but they do require you to pass the series 7. This would give you more products to sell, but you will find that the quotas and compensation are going to mandate that you spend most of your time selling life policies.
Like many other insurance focused companies, their is a pre-contract agreement that will require you to pay up front for license fees and study materials (approx. $ 900.00), and a requirement to sell a designated amount of product.
Once you get your contract, you may be able to negotiate a salary of $2,000 or more for a year or so. However, if you opt for the salary, your commissions will basically be cut in half. Only someone who fails comes out better on salary. Also, if you are on salary and are not producing an acceptable amount, you are more likely to be terminated sooner. You will be responsible for virtually all you expenses.
In fairness to AXA, this is standard policy for a captive agent with most insurance companies. AXA has good products and offers respectable training and marketing tools.
AXA is not a good company to work for...go to Morgan..
AXA is owned by Alliance(Berstein) and their focus is on the inevestment management side (buy side) not the brokerage side (sell side)
"AXA is owned by Alliance(Berstein) and their focus is on the inevestment management side (buy side) not the brokerage side (sell side) "
Nah, thats wrong. AXA owns approx 53% of Alliance Capital.
Coag's reply basically basically hit it right on.....
Greenshoe, I was there for over 3 years and can give you the real deal. PM me if youd like....