I worked at AXA Advisors DTLA for about one year in 2017. After I left, AXA N.A. reverted to Equitable. To be fair, I am not sure if the interview process I went through is still being used, or even if the process was the same for all of AXA's Los Angeles offices. But some members of the management team I worked under are still at Equitable DTLA, so maybe if the compensation structure is similar, they still use the same hiring process. I eventually accepted the offer and below I have detailed my interview experience. First, I found the job listing online and then applied through their website. A couple of days later, a VP called me to introduce himself and schedule a multi-round "interview" with him for the next week. The first round started with a friendly chat. Then the VP asked me common interview questions. Next, he told me what the day-to-day was like for a Financial Advisor/Consultant at AXA Advisors and showed me a schedule for what someone in my role typically makes--which I now know was an overly generous "estimate" (it is worth noting that during my year there, nobody made as much as the schedule stated, even this VP). At the end of this round, the VP handed me a script and asked me to return one week later to present its contents. The script was pretty straightforward, I was told the presentation should take me 15-20 mins. I returned for the second round and presented. Right after I presented, I had a character interview with a Senior Vice President. The SVP was calm and collected. That part went well and both SVP/VP told me AXA would sponsor me for the CA Life & Health Insurance and FINRA Series 6/63 or 7/66 exams and they would like to have me on their team once I passed. They told me I would have to initially pay out-of-pocket for test/prep costs, but would then be reimbursed up to a limit. This turned out to be true and the VP was helpful with every step--how encouraging! I knew these were useful licenses to have and that these could help me to become a financial advisor anywhere. I eagerly accepted the sponsorship. I passed all three tests after I studied full-time for a month or two. Then I was asked to return to the office to sign an independent contractor agreement in front of the VP (a court would likely qualify my role as an "Employee" instead of an "IC," and thus, in CA, entitled to benefits from my employer, but the qualification was probably a cost-saving measure for AXA). I was delighted by their offer to have me join AXA despite my lack of financial experience--I could actually work in finance! I signed the contract within half an hour and without taking the contract home to review/keep as a record, big mistake. I was asked to start work the next week. Overall, the interview process was easy. --------------------------- I write this second part so that entry-level applicants/employees might recognize some patterns between my interview/work experience and theirs. It is not meant to scare anyone away from joining what can be a lucrative career/firm. Many CPAs and Attorneys I met said the LI and annuity contracts were fair and that Equitable is a reliable financial services company. If you are not as naive as I was or have a different VP or manager, you might have a different interview/work experience and not become disillusioned over time. What I eventually realized, a bit too late, was that the "interview" was a balancing act between "hiring" and "recruiting" as a means to support a stream of personal revenue for mgmt. Management was paid for each person they recruited, for each quarter they retained the recruit, as well as part of any financial sale their recruits made (similar to a pyramid scheme). For some, which included my VP, sales and service were secondary. For the year I worked at AXA, the team's grueling cold calling efforts on behalf of the VP did not lead to anything to call home about. After some reflection, I realized I continued with the interview process and stayed for so as long as I did because of my desperation/delight to have joined "finance," as well as the lofty promises made by the VP during the interviews--prestige and lots of money, what more could a young man want? It was my second job after college and I had no idea what to expect. A few months into the job, there were more mind games being played than work being done. The interview process and VP by then felt like a sham. I booked the second most appointments on my team but left after a year because my VP and I had no chance to meet my minimum sales requirement. I developed a lot of interesting skills in the beginning. If you can support yourself for a year or so (less with a good VP), you can become a Financial Consultant here, build your own book of business, and become successful under this or a similar system. Alternatively, you can obtain your licenses through this low barrier-to-entry model, which will open up doors at another financial advisory firm.
