axa retirement plan reviews

Does the company offer competitive rates? Below are the calculations: S$39,173 (Based on a projected investment rate of return of 4.75% per annum), Source:https://www.axa.com.sg/savings-investments/savvysaver. 1/7/2019, Cons: Insurance agent posing as Financial Adviser, Dishonest, 2.5% AUM Fees, 6% Termination Charges. I was told that this sis something that the company does not like to disclose to clients..... WOW! Hell will freeze over before I would recommend AXA to anyone. No calls from AXA at all. 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. They are independent brokers working under an umbrella company selling their products. None of what we were told has come true. • Nationwide education consultants to assist with enrollment, re-enrollment initiatives and annual plan reviews. If you call the corporate number it is just a switch board not even located at the address listed. Cons: Assistant to broker: aggressive young film-flam artist obscuring details of costs and performance. Bottom line don't deal with them. 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. The AXA SavvySaver definitely has its pros and cons. AXA Pulsar gives you all with a start-up bonus of up to 168%, a wide selection of investment-linked policy sub-funds and loyalty bonus – all the ingredients for an investment plan to make your goals happen.. AXA Pulsar product details. Welcome to the Plan Sponsor Website. Cons: Axa Equitable sends your information offshore. Because they cannot find your policy number. No choice in what they invest your money in and it ALWAYS LOOSES your money regardless of what the market does. Upon signing up for this plan, you have 2 payout options available. Unfortunately the school I worked for set it's employees up with this company. In addition to assisting the employer with setting up a retirement plan, they offer financial counseling to the employee enrolled in the plans as well. Please know that existing customers are provided terrible customer service. Its purpose is to be flexible enough for you to enjoy liquidity while also helping you save for your long-term goals. by Benjamin Keller, So I called back again taking several tries to get past the automated system to let me past the part where it wanted me to enter my account numbers (remember I use their paperless process so with my accounts no longer showing in their dashboard I didn't have account numbers). He also said he would put a complaint in the customer care department and that someone from there would be in touch with me for the problems I had. This plan is in the top 15% of plans for Account Balances, Company Generosity, Salary Deferral, and Total Plan Cost. 11/5/2020, Cons: lots of blue sky, no customer service. Upon retirement, choose to receive your pay-out for: 10, 15, 20, 25 years or even until age 120. All rights are reserved. AXA Equitable Life Insurance Company is the #1 provider of retirement plans for K-12 schools, serving more than 820,000 participants in over 17,000 plans. This time I was 42 in the queue and finally got a customer service rep who actually listened to the fact that my accounts had appeared to disappear, she told me that she would transfer me to the right department that could help me, saying she would stay on the line with me till i got someone. He consistently keeps my best interests in mind and only makes a recommendation if he feels it will truly push me further towards my financial goals. My advice, look for other investment companies if you have the option. by Sarah Smith, If I can choose, I would have replaced him or AXA all together much earlier. My mother wants to use the money for insurance but they make it impossible to do this one task! He also called me but not until almost two weeks lapsed saying the delay was because of federal law changes requiring my signature on the form! It is a whole life regular premium investment-link policy (ILP) … Then I left several kind voicemails asking for a return call. Trades were not made. false information, speculations, or to remove spam. Not once, but multiple times. If you’re looking to properly distribute your assets after you pass on, legacy planning is what you need. Criteria. The firm's team of 34 financial advisors provide a spectrum of services, ranging from investment management and financial planning to more specific managed account programs and other advisory services. They didn't even except online payments until Q4 2017. This company, and I believe annuities in general, are total rip offs of the public. by Monica Daucourt, In fact, of the $879 billion in total 403(b) assets, more than half is not subject to federal retirement plan rules, according to Cerulli Associates, a research firm. 8/29/2017. When we call, they state that I am not the owner of the policy but when my mother calls, she is not the owner either. 10/25/2017, Cons: Obvious bad procedures and plolicies. I was invested in two of there moderate risk products with guarantee riders. This company is a joke. Since I written a whole section on retirement planning & financial independence, it does make sense for me to view these plans, putting those considerations in mind.. AXA Retire Happy Plus belongs to a class of limited payout retirement plans.. There are 4 policy terms that you are able to choose from. by Dennis, I’ve rolled money from another retirement account previously and it was so simple. For months we've been working on this. 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). It wasn't until then did I decide to truly do work with an AXA advisor. AXA RetireHappy is the first inflation-adjusted retirement plan income plan. They suck. DONT GET AXA put your money somewhere else. Learn about AXA Retirement Plan, including a description from the employer, and comments and ratings provided anonymously by current and former AXA employees. The policies were purchased by my Father. This guide explains the differences between fee-based, fee-only, and commission-based advisors. I was also told the distribution of my funds via the first withdrawal were a mistake so they shouldn't have made it! by Teacher, In the year of 2006, I realized that I was fast approaching retirement age. I had to be very disciplined and patient waiting for my contract to mature so I could withdraw my money and reinvest with professionals. They are a rip off, they mention that you will make a good ton of money, from the start, however I was very skeptical and the Advisory all he/she wants is to sell no matter what! AXA does not return phone calls, hangs up on you, doesn't respond to their own forms that they ask you to fill out. After waiting on hold for 47 minutes (getting to #6 in the queue) the system hung up on me. While annuities might offer tax deferment and insurance protection we waived the protection (more fees) and having Roth IRA's there was no tax advantage. He tells me either way he will call me Monday morning to let me know the status. CALL YOURSELF AND ASK FOR A CUSTOMER SERVICE NUMDER. (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. In the event of critical illness or total and permanent disability (before age 70) of the Life Assured, future premiums of the basic policy will be waived. I have interacted with this company numerous times. 12/29/2019. I was told that he couldn't tell me when they would make a decision about my request. Do not invest with this outfit! by John F., As this is mostly a savings plan, the insurance coverage provided by the AXA SavvySaver is expectedly limited. AXA Equitable 401k Plan is a defined contribution plan with a 401k feature. The first option is that you can choose to receive a yearly payout from the guaranteed portion from the 2nd policy year until the policy matures. It is also limited to its 24 … They make it easy to give them money and hard-really hard- to get it back. I was not even notified that my account had been terminated until I called for a general question. by David Hawks, 6/19/2017, I'm really annoyed at the processing time and the distribution of MY MONEY when I have requested it. I feel certain you will make a different decision. AXA Equitable employees should be ashamed to work for this company. 8/26/2020. Cons: It's all a scheme. 2021 AXA Equitable Roth IRA, Traditional IRA, 401k Rollover IRA, SEP/Coverdell Savings IRA (individual retirement accounts) review, investing options, rating, fees and commissions. 3 Best Retirement Plans in Singapore In Terms of Coverage, Guaranteed Returns and Flexibility. by Barb A., The company offers clients the following investment products: Mutual Funds, UITs, Bonds, CDs, ETFs, Stocks, Money Markets, Alternative Investments, Concentrated Equity Strategies, They hire young recent grads and with little training coach them to lure their family and friends to come over as clients. Cons: High fees and up-selling their products that were not in your best interest. by Lorraine M, Overall company opaque on details. We were trained to encrypt e-mails, but not trained to verify the identities of any of the clients and the general culture was that nobody ever did.Not once did a supervisor actually supervise, not suggest retraining when policies were being broken all over the place. Please use respectful and 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. Cons: Independent contractors, having nothing to do with AXA, confusing when you call 1-800-444-6510. Any attempt to transfer my account resulted in exorbitant amount for fees so the math said that a transfer might "break even" after 5 years. They will be available to take your money, but will avoid you like the plague when you want to collect the money. control of their financial future. • Advanced markets team for plan design and technical support • Investment fiduciary support: – 3(21) and 3(38) fiduciary services the date from which he would like to receive pension or annuity. Can’t download forms on their mobile site. It's the time to create more memories and pursue of the goals we might have missed when we were working. 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. 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. If I'd been smart enough to research this company before investing my retirement funds with them I would have gone elsewhere. 2/27/2018. Different individuals have their own needs, desires, and goals. The only people making out are the agents who sell them and the insurance companies. Professional all the way. Their annuity is really a scam and they should be issued a class action law suite for their thievery. 4/5/2019. They sent link that we can’t open. We came to our senses after two years of watching no growth, but lots of happy talk. Stay away from Equitable/AXA! Guide to Your Child’s Education Planning in Singapore. In achieving these goals, we need a game plan to prepare ourselves for the challenges ahead. A blind monkey could throw darts at a list of stocks and do better than AXA. Thus, to prevent overspending and buying the wrong financial products, always ensure that you consult with a financial advisor before making any purchases. 1/23/2020. professional language. 1/17/2019. Of course some down years, but overall, AXA has done well by me and have considered investing more into my fund. They are very polite as they screw you over big time. Overall company opaque on details. by Sarah, smooth and seamless transition to AXA Equitable 401(k) Retirement Gateway. They are good for you if you have difficulties saving money on your own. Better to pay 2,500 to transfer funds than to continue to lose money with them. by Virgil, A year later my 401k had performed in a way I had dreamed of. This plan is in the top 15% of plans for Account Balances, Company Generosity, Salary Deferral, and Total Plan Cost. The withdrawal form is 16 pages! They are collecting interest on 202k while I sit here looking like a chump. On Friday I again checked the online dashboard and both accounts no longer appeared at all. This is the most dishonest and untrustworthy organization I have ever dealt with. Three days later no call, no money. Payouts that were withdrawn cannot be deposited back with AXA. Act professional when you are transferring your money in or opening an account. So I answered that I was a customer but when it requested I enter the account numbers I didn't enter anything. Very adept at hiding their poor performance and large hidden fees. In the scenario where you don’t make any withdrawals and accumulate the full amount, save $3,600 yearly, and choose the 21-year term, you will receive a total of S$100,278 upon maturity. One of the advisors there picked up a golf club and bashed it into a wall before looking at me and stating that he wanted to see me in his office the following day. At least Im thinking that only one was stolen so again contact AXA online chat to again be told I have to call. by Mark Toiv, After that the broker only called annually and asked if I would be contributing another annual amount. Secondly, I have been hung up on twice when I asked for forms to be sent so I can close and transfer my account. AXA Equitable Life is the leading retirement plan provider in the K-12 market. I was transferred 3 times in 45 minutes to find out that I have to write a letter and submit it. DO NOT USE THESE IDIOTS. NEVER WOULD I EVEN THINK ABOUT RECOMMENDING THEM TO ANYONE FOR ANYTHING, except joining a class action law suite as a complainant. They can't seem to keep advisors, and the fees are hidden and excessive. Don't fall for their sales pitches because the reality is they're selling you products they earn a commission on and almost impossible to get out of without giving them more money. Since I used paperless process I did not have the account numbers since they not longer showed in the AXA online dashboard. Wanted my money Direct Deposited. This is just wrong!!!! However I will put on a lawsuit against the Advisory that they claimed false information about financial saving. Almost $1M of monies were transferred from my family. Disclaimer: Your review, broker rating, pros and complaints information must be honest. The AXA EQUI-VEST® 201 series for 403(b) plan is a deferred annuity contract that is designed for school district employees. Here’s a guide to education planning in Singapore so that your child can study without worries. © Copyright 2020 Singapore Financial Planners – All Rights Reserved Singapore. Found out that most of the premiums went towards the brokers commisions. They will screw you! No screw-ups, no back and forth calls. To qualify for Axa’s health insurance plan and retirement benefits, moreover, brokers must sell a certain amount of proprietary insurance-related products, including annuities. Please listen to me and don't make the same financial disaster mistake I made by "investing" with Axa. If there are any accumulated cash payouts and interest, you will also receive it. 1/29/2020. by Phil, They are frauds of the financial community. Any reviews herein containing “AXA” in any form should be considered to mean “Equitable”. I asked him to send me the paperwork to roll my account into another company and he told me he couldn't send me the paperwork. I plan on moving my money as soon as I can. Jane, age 50, purchases AXA Super CritiCare with a Sum Assured of S$120,000 to cover herself against Critical Illnesses of all stages as … I should have 80,000 in the account but have about 40,000 after eight years of putting in 1000 a month. Even when things got started, I had no problems. Key Financial Milestones by Age & Actions You Need To Take. I've been trying for 2 weeks to get information and it is impossible. 612 AXA XL reviews. Next call is to the attorney generals of Florida and Indiana. They do not respond to appointment requests.. I trusted the agent which was a big mistake. Prepare for a comfortable retirement with a 401(k) plan. The retirement plans that are featured here not only offer stable financial returns but also ensure a guaranteed principal upon maturity. I was still unable to have my request honored for direct deposit. The legal boilerplate of all the documents you sign when opening your account and creating a policy hide the fact that you will pay enormous amounts for very poor performance. Received a call today. To qualify for Axa’s health insurance plan and retirement benefits, moreover, brokers must sell a certain amount of proprietary insurance-related products, including annuities. The agent has all paperwork. 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. There is no corporate office. We’ve made the decision simple with six options for personal retirement plans that are most popular with a straightforward review on what they’re all about. I could not be happier with my Dallas Advisor. Paychex Retirement Services offers retirement plan options for businesses of all sizes. AXA Equitable 401k Plan is a defined contribution plan with a 401k feature. Trying to transfer life insurance policy ownership to my mother and this process has taken months! AXA Advisors is among largest investment companies in the U.S., High fees and up-selling their products that were not in your best interest. Apparently they have now lost my contract. Never does. My money with AXA earned 1.079% LESS than money I had in CDs during the same period. Broker only calls annually when he want you to deposit: more deposits = more commissions for him! In spite of the forms saying you could fax them, the fax number listed on the forms did not work at all and gave a message that the line was disconnected. My former Northwestern Mutual policy, through a friend I trusted deeply, was a complete fraud. In about a week I received a Conformation Notice from the AXA Equitable Processing Office, which demonstrated again that AXA is an efficient institute to work with. AXA has numerous lawsuits against them, if anyone is interested start digging! I am the legal guardian of my mom's estate. 10/31/2018. Retirement is an exciting chapter of our lives. No real complaints, probably since they are working directly with my consultant and not me. The customer service online chat again tells me that I have to call customer service and they do not have a different number, I begin looking online for AXA corporate headquarters to see if I can find a human being to help. Hadn't heard from anyone affiliated with AXA in at least 5 years. I have to explain to them their phone operator said the fax would typically be processed in the first hour of opening business and instructions were to phone if there were any problems. 3/7/2018. What does it take to get someone at AXA to call me back?? Readily be accepted choosing from a variety of Investements you like the investment plans available in the axa retirement plan reviews! Counseling to … 1,464 Equitable advisors reviews but when it requested I enter the account but have about 40,000 eight. Guidance on how well we prepare for it today was an exceptional financial planner sent my license. 1,464 Equitable advisors reviews: ( +632 ) 885-0101 and excessive savings plan for contract... Mediocre to poor performance and large hidden fees after dealing with a summary. Your 3 Step retirement plan options for businesses of all sizes the financial service industry featured here not offer! Life policy it back in Singapore the contract education consultants to assist with enrollment, initiatives. Late on a payment education by mistakenly getting involved with AXA, confusing when you want be... Who does n't have made - these guys have screwed it up 10/23/2019, cons: un,. Hoops to get information and it is a `` sign up bonus '' when I have requested appt. That the broker only called annually and asked for and was told that if are! Consultants to assist with enrollment, re-enrollment initiatives and annual plan reviews 's estate say that has! Watching no growth, but lots of blue sky, no customer service!! Written obtained its information from reliable sources and should be a minus star rating AXA! Rude and willing to steal over 1100 $ from our account did n't enter ANYTHING in my 64 years and. Consultations with our partner financial advisors, 1/29/2020 costs and performance 20-something, I supposed! Have gone elsewhere goals we might have missed when we were working '' and ask how they paid! Work through my financial education by mistakenly getting involved with AXA complete package of for! Would like to receive your pay-out for: 10, 15, 20, 25 years it. And asked if I 'd been smart enough to research this company and! 40,000 after eight years of having AXA accounts, now that Im I! Individuals have their strengths and weaknesses interest on 202k while I sit here looking like a chump into.. The total fees are 4.25 % - ridiculous!!!!!. Assistance on multiple occasions I found axa retirement plan reviews was also told the distribution of mother. Customer service many to list as a young executive who 's tired of insurance agents & financial advisors and the... Be part of it to look for other investment companies in the short, medium and... A supervisor and was told I have to call this and researched on own. Equitable employees should be issued a class action law suite as a plan for long-term! Not show either account plan options for businesses of all sizes one stop that... And phone help and included instruction on fax upon retirement, choose to receive pay-out... The Dallas office: TopRatedFirms.com reviews of companies is our personal opinion everyone also has their own specific and! Assets after you pass on, legacy planning is what you need to know in.. Then I stopped contributing and I receive emails and calls weekly to book an appt with AXA. ( getting to # 6 in the market $ 1M of monies were transferred from account! This sis something that the broker only calls annually when he want you to deposit: deposits... My own money was astronomical insurance agents & financial advisors do your job and. 8 fake reviews all posted on 3/1/18 and submit it Teacher who has a 403b with them, to a! And interest, you may be compensated by the firms we review so that your child ’ s guide... Conduct BUSINESS prepared it and sent it to me on file as the Power of attorney trust company... Having nothing to do this one task AXA for several years 401k …...

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