Just after getting my first teaching contract in 2009, my school district assigned AXA Equitable to siphon, I mean invest, a percentage of my earnings. Since then, the stock market has been red hot, and inflation has been high, yet in 2025 when I transferred the account to my own control, I had made a tiny fraction of the average market gain; less than half of the fees AXA collected, and far less than inflation, so I actually lost money. This is partially because I was FAR too conservative in my portfolio choices, but also because of the high fees AXA charges for doing nothing. The "investment advice" they give isn't even as good as the free stuff on YouTube. If it had been, I would have invested more wisely. I'm so glad I took my money out of their hands and into my own. If you don't have the time to actively manage a portfolio, you could buy a basic S&P 500 ETF and let it ride all the way into retirement, saving thousands in fees and compound returns. Letting AXA hold your money is still better than buying naked options or other risky strategies, but if you just buy something safe and managed for you like the QQQ or SPY and hold it for life, you'll be far better off.
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