After the year was up they refused to pay the sign up bonus because my account had less in it them than what I invested with them. 1/17/2019. Because they cannot find your policy number. LOL, really? We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Cons: No interest in helping with investment in AXA annunity which has never been gained one penny.. AXA has to have the worst financial investors in the world. All rights are reserved. I was supposed to get a "sign up bonus" when I transferred my life savings to them after the first year. ), Separately Managed Account (SMA) Advisory Programs, Programs in which client assets are managed by a third-party money manager, Programs that may combine aspects of any of the above programs, If you're new to planning for retirement, the help of a professional could be extremely helpful. by Rick, 7/18/2018. AXA Advisors, LLC has investment fraud and misconduct in their history. I was definitely given the run around. Your manager cares about your success because he/she makes more if you are successful. Received a call today. Thinking well maybe they had deposited the second account, I checked with my bank and no deposit. Found out that most of the premiums went towards the brokers commisions. search for a Financial Advisor on this website. Despite each of the aforementioned potential conflicts of interest, fee-based Equitable Advisors is a fiduciary, which means it’s required to act in your best interest at all times. Now I use my personal broker to manage investments so they don't try to sell me investments for their own profits at my expense. Equitable Holdings is, in turn, controlled by an independent board of directors. They hire young recent grads and with little training coach them to lure their family and friends to come over as clients. Staff is rude. Annuities, Insurance, Trust Services. We cannot reach a single person who doesn't want to sell us something else. Personalize cookies Privacy Policy © 2017 AXA All Rights Reserved Privacy Policy © 2017 AXA All Rights Reserved From account inception onwards I lost money month after month. My advisor was new, but had plenty of support and always had leaders to help, so this was not really a con at all. by Brittany Leimeister, Horrible to deal with. In special circumstances, the fee may be higher, though. I learned about that a little too late. Every time we put off saving and investing, it results to … Cons: Brokers do not service client accounts. Cons: DO NOT USE THEIR UNPROFESSIONAL AND DONT KNOW HOW TO CONDUCT BUSINESS. Not once, but multiple times. Aside from this name change, the firm remains the same as it was before. Discouraged by this I fortunately decided against investing with them. I am a public school teacher who has a 403b with them through a whole life policy. I was feeling overwhelmed about the investment process as I sat down with with a couple of brokers that my sister had recommended. Stay Calm and Disciplined. Terrible customer service. I am a public teacher. My question is, should we use the deferred comp. February 3, 2021 "Awesome Company" 5.0 ★ ★ ★ ★ ★ … Furthermore, after getting the run around with the forms to be completed. We will have no option but to report this to the attorney generals office and file a complaint. The company offers clients the following investment products: Mutual Funds, UITs, Bonds, CDs, ETFs, Stocks, Money Markets, Alternative Investments, Concentrated Equity Strategies, After waiting on hold for 47 minutes (getting to #6 in the queue) the system hung up on me. If I'd been smart enough to research this company before investing my retirement funds with them I would have gone elsewhere. The sale of these insurance products may generate commissions for the advisors who sell them, and these commissions can cause a potential conflict of interest. After cancelling our policy, due to massive increase in expenses, they proceeded to steal over 1100$ from our account. DO not invest with this company! I had to email and call my broker again before they finally prepared it and sent it to me on the 23rd! They do not respond to appointment requests.. We are AXA Advisors, LLC. I was transferred 3 times in 45 minutes to find out that I have to write a letter and submit it. After doing some deep digging with another advisor I found I was paying a total of 5% AXA managing fees. Also please perform your due diligence before purchasing any investment/insurance products that have a lock-up period or you will be sorry. So given that they had told me that they would only process payment for one account each day, I expected the direct deposit from the second account the next day. BOI AXA MF Balanced Funds aim at providing investors with regular income and capital appreciation over the medium to long term. We'll see if the money actually gets here or else I will be back to write another review. Needed an emergency withdrawal. CALL YOURSELF AND ASK FOR A CUSTOMER SERVICE NUMDER. Equitable Advisors opened for business in 1999. She didn't see it that way, but you can't B.S. by Sarah, Trying to help family member who changed jobs roll over money into IRA. I had to be very disciplined and patient waiting for my contract to mature so I could withdraw my money and reinvest with professionals. Periodic reviews of financial plans can result in a fixed fee of between $250 to $12,500. Equitable Advisors Background . 3/8/2018, Pros: Seemingly good investment opportunities and variety of options, Cons: Lack of implementation and trustworthiness. AXA Investment Managers is an active, long-term, global, multi-asset investor offering a broad range of high quality funds which invest in a variety of different sectors. THE COST OF PROCRASTINATION. Equitable Holdings also owns Equitable Life Insurance Company, a life insurance business, and AllianceBernstein, another registered investment advisor (RIA) firm. After being on hold for 55 minutes and getting to #11 in the queue the system hung up on me again without me talking to a customer rep. Another set of tries to get past the automated system I was 27 in the queue. If you call the corporate number it is just a switch board not even located at the address listed. Cons: I am a public teacher. Even when things got started, I had no problems. They can't seem to keep advisors, and the fees are hidden and excessive. With the ability to offer insurance and investment advisory services, your advisor will help you meet your goals. AXA Equitable Life Insurance Company offers several types of annuities through a national network of agents and financial advisors. The only people making out are the agents who sell them and the insurance companies. Avoid AXA Advisors. The company has an AA rating through Standard and Poor's but was given a negative outlook by the credit rating company in February 2009. 6/26/2018. Hadn't heard from anyone affiliated with AXA in at least 5 years. Almost $1M of monies were transferred from my family. When you call them out on it they simple hang up on you.I truly think they are trained to lie and be deceitful to customers. Next call is to the attorney generals of Florida and Indiana. I was not even notified that my account had been terminated until I called for a general question. by David Hawks, A blind monkey could throw darts at a list of stocks and do better than AXA. They were impossible to contact and deal with. Advised that in addition to the expense ratio's there was a 1.65% fee on the annuity contract (seems we were lied to about no other fees). Besides the undisclosed fee there was also an 8%, 7%, 6%, 5% declining four year close out charge (we were told 8%, 6%, 4%, 2%).Unless you want to pay for insurance protection from market impacts there are many better mutual fund managed account options out there. Avoid them like the plague. Absolutely ridiculous! by Mark., Then I left several kind voicemails asking for a return call. Again waiting on hold for 35 minutes I got to #4 before the system hung up on me again. In addition, it may review fund prospectuses or other market publications. Caveat emptor!! Lots of promises, no carry through. They do not respond to appointment requests.. Whatever problems you may be having with your personal finances AXA is one stop shop that can point you in the right direction. Cons: Axa Equitable sends your information offshore. Often Difficult to get a person. 8/10/2017. I called the corporate number to file a complaint and talk to someone about the lack of communication with my broker. Inefficient and inept. Every payment that I have made - these guys have screwed it up. Year one passed, … My opinions aren't necessary. 8/21/2017, Pros: easy to talk with, straight shooter. Texts go unanswered. Welcome to AXA Investment Managers website for Professional Clients in the UK. 2/4/2019, AXA CUSTOMER service is a joke. Equitable Advisors employs more than 3,500 advisors, and some of these advisors have earned professional certifications. No real complaints, probably since they are working directly with my consultant and not me. Hate these people and have stopped funding it. Yet, he never requested that when I asked to close the account! I paid dearly for my financial education by mistakenly getting involved with AXA Advisors. Promise it is going out today. Trying to transfer life insurance policy ownership to my mother and this process has taken months! What this company does is keep your account value down so if you start using your money, it will wipe out your account and you then no longer have a death benefit. If you are extremely driven, there is a possibility that you can make it but don't lie to … Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities. by ArcanumOne, I should have 80,000 in the account but have about 40,000 after eight years of putting in 1000 a month. by Matt A, They are collecting interest on 202k while I sit here looking like a chump. This time I was # 65 in the queue. by Lorraine M, However I will put on a lawsuit against the Advisory that they claimed false information about financial saving. 18 …led … Almost $1M of monies were transferred from my family. I was recently approached by a financial advisor to buy an investment-linked plan (AXA Wealth Accelerate) and was wondering if I should as my intention is to invest. I requested from my broker to close my Ira and have Check sent to me on or about February 10, 2018 via email to my broker, and my broker confirmed via email on the 12th asking about withholding taxes to which I immediately responded. No real complaints, probably since they are working directly with my consultant and not me. The following day the customer service person told me that they had processed my payment request for one of the annuities and had issued a check that was being mailed to me in spite of me sending all the information for direct deposit. This is a bad company. For reference, a recent study by RIA in a Box found that the average annual advisory fee is 0.95% of AUM. I’ll believe it when I see it. plan and the advisors for that plan? After several attempts to get past this part of the process (multiple calls) it finally told me i was 39 in the queue. Finally someone gave us number to 3rd party provider. While the fear … Let Dave Ramsey teach about them. They sucked money out of my Dad for 25 years and then cancelled his policy for being about 17 days late on a payment. Young advisors are not cared about by AXA. I am switching my carrier ASAP. My account value is standing at $10,000 lower than what I opened the account with in 2008 so I would say this is a very bad investment. Losing money in their investment account even when the stock market was on fire. to have my pretax dollars from my income invested in a retirement -403b The rep never disclosed any information about having to stay with the company for 6 years even if i ended employment, turned 60 or just wanted to transfer my funds to another financial institution's 403B. Zoom between states and the national map to see the top spots in each region. The main company doesn't have me on file as the Power of attorney. This is not all, there will be a fee of about 1% at the anniversary date, which means my money when down 2.4%.Why this expert people, charging you VERY, VERY large fees, using "state of the art" computer tools can do so poorly? Their annuity is really a scam and they should be issued a class action law suite for their thievery. I was still unable to have my request honored for direct deposit. If your not with AXA recommend you stay that way. I'm not with a credit union or iffy bank, I'm with BBVA Compass. No screw-ups, no back and forth calls. What???? Trades were not made. Overall, this is a terrible company! Back and forth, incompetent processing, did not receive docs faxed or FedExed, apathetic on the phone, Broker could not care less about the investor. Flag as Inappropriate Flag as Inappropriate. Never does. They are eager to take your money, but after they have it you're screwed. but the performance is terrible. Don't be fooled by the 8 fake reviews all posted on 3/1/18. Do not invest with this outfit! This company and their insurance brokers will rob you blind. I told him to stop and asked for a supervisor and was informed he was my advisor and there was no one above him. Never disclosed surrender charges. These insurances agents are not fiduciaries and do not have your best interest in mind when selling you their products.At age 27, I (thought) I needed help setting up retirement accounts when I became an independent contractor so I asked a "friend" who was in the business for help. Called when I switched jobs and kept getting told to call this and that person. 4. Cities where $1 million lasted the longest ranked the highest in the study. 11/5/2020, Cons: lots of blue sky, no customer service. None of what we were told has come true. I plan on moving my money as soon as I can. After several years of performance below market expectations we had it transferred from the AXA fund manager to Morgan Stanley so they could look into the AXA contract. 6/14/2019. Equitable Advisors is a wholly owned subsidiary of Equitable Holdings, Inc., a holding company. No choice in what they invest your money in and it ALWAYS LOOSES your money regardless of what the market does. After providing proof of cancelling policy they refused to refund our money. I rolled my 401 away from Axa and Axa processed my paperwork ad a distribution instead. I trusted the agent which was a big mistake. It seems like they come up with every obstacle to stop you from moving your money out. 7/26/2018. HUGE fees if you try to withdraw funds and a very painstaking process at that. by Barb A., Run from these crooks, by Tom K, He tells me that it looks like my accounts are set for payouts, but there is nothing that can be done till Monday, when he will follow up with the right department and then with me. In 2005, AXA along with 14 other financial firms was fined for directed brokerage violations. they don't even file the correct paperwork when making a change and then I get dinged from the IRS. They couldn't do it because the standard Direct Deposit form my bank uses was not acceptable, because it is not signed by the Manager. Cons: No interest in helping with investment in AXA annunity which has never been gained one penny.. AXA has to have the worst financial investors in the world. 2/23/2018. Axa Equitable sends your information offshore. I phone them and was told I made a mistake filling out the form. Extremely rude and willing to steal our money!! and was told 'tough' in so many words. They say I will make a great deal of money by the 5th year which when i asked by exactly the difference by how much total premium i pay and the total saving I would make didn't even make 100 euros difference because it has to be a long run investment but they always lie and guarantee that I will make a fortune. Overall company opaque on details. by Dennis, I've had an annuity with them for more than 15 years and it has never gone up. (Typical term insurance for a 27 year old is in the $20-30 range per month).• 6% charge on all assets in the SEP and Roth accounts for closing both accounts.• $135 for transferring the assets in the SEP/Roth to Vanguard.• $125 for transferring the assets in the brokerage account to Vanguard.Currently, I'm sitting on a $36,000 loss for "investing" with Axa over 4.5 years while another $6,000 is slowing dwindling away each month in the VUL. Also known as hybrid funds, these schemes invest in stocks as well as fixed income generating securities to provide growth with a relatively stable portfolio. 8/12/2020. Welcome to AXA Investment Managers global website. The policies were purchased by my Father. There was no follow-up or communication with my account. DO NOT USE THESE IDIOTS. 2/27/2018, Pros: Reasonable prices when shopped around. They will be available to take your money, but will avoid you like the plague when you want to collect the money. I don’t play games. AXA should have to reimburse me interest on my account at same rate I was paying Master Charge since they have kept my money for more than two weeks preventing me from paying it off! The firm also works with pension plans, charitable organizations and businesses. Moreover, there is also exclusive access to boutique funds that a … Cons: It's all a scheme. Wanted my money Direct Deposited. Not customer-oriented and dangerous. They sent link that we can’t open. Pros: Kind, sincere, christ-like and explained everything in a manner I could follow fully. I talked with two brokers for a total of 8 hours on 2 separate occasions! 1/29/2020. This has caused my policy to lapse now on two separate occasions. All he was really able to do was recommend I reallocate the investments within my 401k to other areas (something that doesn't charge me a fee and that doesn't pay a commission to the advisor). I was in total disbelief from the wild statement and I became immediately on guard. So again to the phone to call after trying the online customer service chat only to be told that I needed to call the customer service center that the folks that do the online chat support could not help. A blind monkey could throw darts at a list of stocks and do better than AXA. On other other hand, our current “financial advisor” told us he would help more with budgeting and goals for a fee of $500 per year, and he currently receives approx. Customer Charter. 6/19/2017, I'm really annoyed at the processing time and the distribution of MY MONEY when I have requested it. It is now December 24 and still no transfer. by David, And then the "Withdrawal Fee" to have a check written for my own money was astronomical! One of the worst companies I have ever had to deal with. I was also told the distribution of my funds via the first withdrawal were a mistake so they shouldn't have made it! We were sold an annuity described as a mutual fund portfolio and it was explained to us the only fee was their split of expense ratio's with the mutual fund companies. So I sat with the guy and he explain me the details "he wants to tell" ONLY, and don't tell or even mention the fees! You call that customer service?????? I never agreed to any insurance on 2 year old! The earlier you start, the more funds you acquire, the more assets you earn for your future goals. We all buy into the idea of growing our savings but we easily get side-tracked with so many reasons to spend. When I contacted him again I received an email from his assistant making excuses that they needed a copy of my drivers license and for me to send an electronic form back to them. After several more unsuccessful attempts to get threw the barriers they have to reach the phone service, I resign myself to see if AXA will contact me. So in the case of each program, the truly pertinent investment philosophy is that of the sponsor of whichever program you choose to invest your money in. 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 … AXA has numerous lawsuits against them, if anyone is interested start digging! by Investor, I’ve rolled money from another retirement account previously and it was so simple. 10/31/2018. We came to our senses after two years of watching no growth, but lots of happy talk. First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. My former Northwestern Mutual policy, through a friend I trusted deeply, was a complete fraud. All was confirmed same day in phone conversation with assurances I’d receive the check in a few days. We may be compensated by the firms we review. AXA Equitable employees should be ashamed to work for this company. Whether you choose an AXA Advisors financial professional or one from another firm, they should have the facts, research, insights and … Axa took thousand of $ from my account by issuing a distribution instead of a rollover. The customer service folks when I finally got to talk to them were helpful in emailing me the forms I would need. Stay away! by Anonymous, In my 64 years with many different investment accounts Equitable/AXA was the absolute worst. This means that many of the firm’s advisors are authorized to conduct securities transactions that could result in the earning of commissions. Make sure you ask the adviser if he is a "fiduciary" and ask how they get paid. ABSOLUTELY REFUSE TO mail any forms. End of the next week, almost two weeks later still no check had arrived. Three days later no call, no money. Freaking out he told me I would have to call customer service. I can't even ask my sister about her experience as she has recently passed. Transparent, hard working individuals who consistently keep their clients best interest in mind. A year later my 401k had performed in a way I had dreamed of. My Roth and 401k assets at Vanguard were transferred into Roth and SEP Annuities, I was sold a Variable Universal Life (VUL) policy (instead of low cost term insurance) and (to consolidate my accounts) I moved my brokerage account to Axa as well.For four years and a half years I ...• Paid 4% commission on all contributions plus $100/month in administration fees for VUL policy.• Paid 2.5% asset under management and mutual fund fees on both the Roth/SEP annuities and on the investments in the VUL policy.• Paid 3% commission buying Vanguard ETFs (that I picked on my own).When I discovered I made a huge mistake, I decided to close all my accounts except the VUL.

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