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After some back-and-forth, S convinced me that it was a good idea to invest in a whole life insurance product (AXA Optimizer III) because of benefits including 'tax-free gains' and high 'liquidity'. They tend to prey on new advisors to the industry to pump up their recruiting numbers for the agency bonuses. I hope everyone who reads this avoids Equitable/AXA like the plague... not sure what to do at this point. After that, it's mostly just servicing the client. All of my money is gone. Shouldn't this be illegal in NYS? Equitable Holdings (formerly The Equitable Life Assurance Society of the United States and AXA Equitable Life Insurance Company, and also known as The Equitable) was founded by Henry Baldwin Hyde in 1859. Seems all good there, but it’s brutal from what I’ve read. Work at a financial firm. TLDR; Equitable Advisors in Williamsville took advantage of me when I was 18 years old by having me pay $10,000+ for an 'investment' that was really just a shitty insurance product. AMENDMENT NO. Take calls from FAs all the time. As is stated above, this firm changed its name from AXA Advisors to Equitable Advisors … After more than two and a half decades in the insurance and financial services arena, AXA offers its products and services in 64 countries and has more than 107 million clients. Stay far away. Turns out, … How’s life been after it? That depends on the advisor… Turns out, people have been saying it's a glorified sales job and the company is pretty bad. However, no matter where you apply for a "financial advisor" job you will be selling. Skip to content. I assume it's commission only. The A.M. Best company is a well-known rating agency, and it gives an A+ rating to AXA Equitable… ... it is likely that most of the advisors will get out of the business--AXA … I personally lost $10,000+ to this shitty company and hope nobody else goes through what I have. Camping. Investment firm pros and cons. However, the actual investment arm is managed by LPL Financial, which is a related (but separate) entity. 1,108 reviews from AXA employees about AXA culture, salaries, benefits, work-life balance, management, job security, and more. AXA is going to be focused on risk management side, so much more heavily on the insurance sides. Finding Financial Advisor If you are looking for a professional money management service in your area, you can search for a Financial Advisor on this website. You'll be cold calling, creating lists of 200 people you know to call out to, attending shit tons of sales meetings you aren't paid for. You sell annuities and crappy products. Now buckle up and get ready for this roller coaster ride. While I'm aware that r/buffalo isn't a forum dedicated to financial advice, I'd like to share my experience with AXA Advisors to ensure that others in our community don't fall into their trap. True Stories? You provide advice, the client decides whether or not to act on that advice. New comments cannot be posted and votes cannot be cast, More posts from the FinancialCareers community. Why is it so hard to dig out of (if you don't mind me asking) ? It takes years to build a book and doing is without a salary makes it very hard for most advisors. Scam Warning: Equitable (AXA) Advisors Stole $10,000+ From Me PSA TLDR; Equitable Advisors in Williamsville took advantage of me when I was 18 years old by having me pay $10,000+ for an … My husband worked for Axa for 77 weeks. Unfortunately, this was not the case... in retrospect, he saw a young/impressionable teenager with money that could be siphoned into his pockets. Press J to jump to the feed. Most of the guys that work here have no idea about financial planning and are really just insurance salesman. The firm also offers a variety of financial, investment advisory and planning services through AXA Advisors, LLC. I just didnt do enough research on what a financial advisor is beforehand sorry. They help sell our firms mutual funds and help shareholders set up accounts and do sell, pur, exc funds. Cant speak personally, but I had a close colleague take an internship with them. AXA Advisors - Financial Consultant? However, the firm can trace its history back all the way to 1859, when Henry Hyde founded its distant predecessor, the Equitable Life Assurance Society of the United States. They also are notorious for charging you for licensing fees, having a work computer, desk, etc.. He graduated from CSU, enlisted in the army as an airborne infantry soldier, went to Iraq, fought for our freedom, got cancer during combat, finished his tour and … In 2004, it officially changed its name to AXA Equitable … Long story short, they sat him down in front of a filing cabinet and told him to get to work. Is this all correct? After meeting with S, I determined that he seemed nice/honest enough to manage my money for the long-term as a fiduciary with my best interests at heart. Is AXA Equitable scam or a good financial company? Yeah i didnt know that haha. If you do have assets managed by AXA… If you are out of luck on the job hunt so far, … Securities offered through Equitable Advisors, LLC (NY, NY (212) 314-4600), member FINRA, SIPC (Equitable Financial Advisors … Equitable Advisors opened for business in 1999. AXA Advisors I was offered an interview by AXA Advisors for the position of Financial Advisor, but when I did my research on the company, I only found negative reviews. 1,458 Equitable Advisors reviews. That's the nature of that business. When creating my 'financial plan', I told S that I wanted to start investing while remaining liquid enough for potential major purchases (house, car, college tuition, etc.). Whether it's risk management or asset accumulation. 2 TO THE INVESTMENT SUB-ADVISORY AGREEMENT (February 7th, 2020). Do you regret ever doing it? However, the job description does not say anything sales-related. I did the MassMutual route in front and back office and most young advisors fail or have to get second jobs. (Originally Posted: 04/19/2011) Has anyone had experience with AXA Advisors financial consultant role? Not required but a plus: MBA, JD, CFP®, CPA or ChFC . These types of FA jobs should be illegal. Scam Warning: Equitable (AXA) Advisors Stole $10,000+ From Me. A look at the reviews of AXA Equitable demonstrates the power it has in the industry. Best Cities for Jobs 2020 NEW! Investing. 2”) between AXA Equitable … AXA itself does sell life insurance and other commission-based products. By using our Services, you agree to our use of cookies.Learn More. The typical Equitable Financial Advisor salary is $26,886. Business Details. I can speak from experience. Axa pays a commission of 1.5 percent to 2 percent on every future dollar an employee contributed to a 403(b) annuity. Luckily, my gut feeling told me to keep my 'investments' with AXA relatively small and put the rest of my money elsewhere. Guys who have quit. Our areas of expertise are applied to a range of products and services that are adapted … Let’s put, AXA SA AXAHY stock into this equation and find out if it is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look … Very hard to start from nothing, and bad growth out look. He graduated from CSU, enlisted in the army as an airborne … I was contacted by someone from the above group and pitched a life insurance plan that … After conducting more research and seeing the ambesyl ROI and high fees, I chose that my money would be better off in my savings account. Press question mark to learn the rest of the keyboard shortcuts. Present in 57 countries, AXA's 160,000 employees and distributors are committed to serving our 108 million clients. It’s is very rare you will find a portfolio built by an Axa advisor that will … 2 to the Investment Sub-Advisory Agreement effective as of January 15, 2020, (“Amendment No. AXA is one of the largest companies in the world. On the investment side of things it's moving to more fee-based but you still have to sell on the initial contact in order to get them to invest. Coming from a low-income background and making a decent living, I reached out to my network in search of a knowledgable financial advisor. Do not take it. As I found out through researching AXA 403(b)’s, they are, in my opinion, one of the worst products on the market. 12 Equitable Advisors reviews in Bala Cynwyd. Financial Advisor salaries at Equitable can range from $24,000 - $113,517. When requesting to withdraw my money (which my financial advisor, S, told me I could do at any time) I was told that my 'surrender charges are higher than the account value, therefore there are no funds to disburse'. Find out why I suggest every teacher dump their AXA 403(b): [VIDEO REMOVED FOLLOWING PRESSURE FROM AXA… AXA Advisors customer reviews, complaints, and ratings. Find Financial Advisor … You will be required to attain under the sponsorship of Equitable Advisors: state life and health licenses, FINRA Series 7 and 63 registrations. I should've run the other way. Business Details. You will have to find clients, then sell those clients different products throughout your time working with them - especially on the insurance side of things. I completely agree with the above comments. So... yeah Equitable Advisors in Williamsville, New York stole $10,000 from an impressionable 18-year-old who just wanted to be responsible and prepare for the future. In 1991, Axa, a French insurance company, acquired majority control of The Equitable. RUN AWAY AS FAST AS YOU CAN! Runnnnn I'm currently digging myself out of this mess. Plan your career in the wide world of finance. I was offered an interview by AXA Advisors for the position of Financial Advisor, but when I did my research on the company, I only found negative reviews. This estimate is based upon 13 Equitable Financial Advisor … A free inside look at company reviews and salaries posted anonymously by employees. And should I even bother doing the interview or would it just be a waste of time? My story begins approximately three years ago, having just turned 18 years old and making some decent money writing software for local startups. The firm also offers a variety of financial, investment advisory and planning services through AXA Advisors, LLC. Unprepared Adults Lead Scary Camping Adventure Yet, over 50% of teachers are using them to save for retirement. Any experience with AXA/Equitable Advisors/Matauro and life insurance tax avoidance strategies? Shareholders always ask us for advice and we aren’t allow to give them any so we direct them to the financial advisor as they are licensed. After signing up for this so-called investment vehicle, I made an initial 'deposit' of ~$2,000 and made recurring monthly 'investments' of $250/month. A free inside look at company reviews and salaries posted anonymously by employees. My husband worked for Axa for 77 weeks. The annuity sold to the teacher, in a sense, becomes an annuity for … For year-end 2016, AXA … Learn about AXA culture, salaries, benefits, work-life balance, management, job security, and more. Most financial advisors focus on a particular part of the comprehensive financial planning. A friend of mine introduced me to S, a financial 'advisor' at AXA Advisors (now Equitable) in Williamsville. 50 reviews from AXA employees about working as an Intern at AXA. AXA Equitable Life Insurance Ratings. Consumer reviews about AXA Advisors: m2j3. My advisor, S, masqueraded himself as a fiduciary when he really just wanted to make a commission from a life insurance sale. Im looking more into financial analyst jobs and i thought financial advisor was similar enough. Menu. Mar 14, 2012 Recruiting Tactics. The Equitable Life Assurance Society is a subsidiary. Yup I interned for a day there. Find a salaried position with a mentor. Eq Advisors Trust – EQ ADVISORS TRUST AMENDMENT NO. Wrong. The Equitable Life Assurance Society is a subsidiary. Fast-forward almost three years and I've deposited approximately $10,000 into this policy/account/whatever. Cookies help us deliver our Services. You're selling the advice you provide. Axa itself does sell life insurance and other commission-based products saying it 's a glorified sales job and the is. French insurance company, acquired majority control of the Equitable assets managed AXA…. 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