Great potential for long-term career if you're willing to put in the work..
Pros
-Running your own schedule: You set your own hours but its a very competitive field so if you're not working 50+ hours a week in your first two years you won't make it for long. If you put in the hours and see enough people, you're bound to get some good clients. -Uncapped Income: For most advisors, you're going to come across a few clients that close big cases for you and you earn big commissions. Truly uncapped but again depending on how much work you put in, and how lucky you get, to come across such big cases. -Plenty of resources: AXA does give you the tools to succeed but they won't hold your hand the entire way. It's up to you to go out and do the market researching, lead generating, and all other types of income-generating activities that takes for you to succeed. If you're self-motivated and can manage yourself, you're going to do great. -Great environment: My team was great and we all got along very well. I made very close friends in the time I was there. My team would plan team-trips once in a while just to hangout outside the office, and the company itself provides company-trips for those who qualify. -Location: I worked in the midtown Manhattan branch and the office was very nice. Many companies close by to prospect at, many good food choices, and access to all types of trains. When clients would come over for a meeting they mostly would compliment the nice reception/conference room area. -Long-term opportunities: You truly set your own future here. If you want to be just an insurance agent then you can focus on insurance and make a great living. If you want to be just an investment advisor then AXA offers great funds through LPL Financial (it will just take you a while to build your book). You can become a manager after a couple of years and train people. The choice is yours, just make a decision and commit to it if you want to last.
Cons
-Your entire income is through commissions. If you stop working hard and stop prospecting, then your income will show in a month or so when the business starts slowing down. This can be an issue if you don't have any savings on the side. -Negative Commissions: Most of the commission you take on life-insurance products are "paid up" commissions, which means that they are paying you a year's-worth of commission upfront in anticipation that the client will keep paying their premiums as they promised. If the client does not pay most of what they promised, then AXA will take back what they paid you in commissions accordingly. This can be an issue if you close a $5,000 commission client, then 6 months later the company tells you that the client stopped funding their policy and now you're in a hole of $3-5K with AXA and they will take it off from your next commission until its all paid off. Again, if you're not prospecting constantly, and managing you existing clients, then you're gonna find yourself in some tough situations. -Big push for insurance products: AXA is a financial firm with a strong focus on insurance (life, disability, long-term care, variable annuities, etc.) If you're not selling insurance products then your not making a lot of money.
