AXA IRA Fees
AXA IRA charges up to 1.38% annually based on how much customers invest to cover administrative fees for managing the account, quarterly in-person meetings and being
available to answer ad-hoc questions as needed.
Overview of AXA IRA’s
AXA advisors, online tools and summary print materials give clients opportunities to save for retirement and monitor growth progress with:
- Monthly consolidated statements with summarized gains and losses for life of the account and recent activity
- Itemized contributions and investment earnings with log of account activity
- Automatic allocation of dividends from stocks, interest from bonds, contributions, proceeds of securities sales into client’s choice of specific
money market funds
- IRS compliant
- Direct rollover transfers – huge time saver for employees
- Guidance focused on client objectives and attitude toward risk with a variety of funding vehicles to execute investment strategies that range from
risk-adverse to aggressive
Feature Highlights – The online retirement planning calculator. Easy, step-by-step five question wizard to build retirement outlook. The wizard allows
users to change inputs to identify ways to alter future outlook to best meet individual retirement needs. This ability to alter assumptions and see the financial impact of those decisions provides a dynamic tool for the user. See screenshot below for example output.
Available Services
Multiple service areas enable AXA representatives to offer additional fee-based services to existing clients. The basic offerings are outlined below with a
brief summary.
Life Insurance
- Term insurance is targeted for ‘younger’ clients (typically under 50 years old) providing a basic term policy, for a set time range such as 30 years. Compared to other types of insurance, Term insurance is often least expensive and may be renewable at the end of each term with raised premiums, but the client’s needs will also change so it is assumed with age the likelihood of financial responsibilities such as mortgage payments, or paying for a child’s college tuition decrease.
- Whole life insurance ties lifetime insurance coverage with a savings account. Assuming premiums are paid on time, coverage is set at a specific fee. A portion of that premium accrues as cash value in a savings account. The savings account is controlled by the policy and that money may be able to borrow tax free, although loans accrue interest and reduce the policy's death benefit and cash value, and may trigger a taxable event if the policy payments are not maintained.
- Universal life insurance is very similar to whole life with potentially higher earnings on the savings benefits and more flexibility in premiums and face value. Premiums may be increased, decreased, or deferred, and cash values can be withdrawn. The client may also have the option to change the amount you are insured for, known as the face amount. Universal life policies typically offer a guaranteed return on cash value.
- Variable life insurance uses fixed premiums and the ability to invest the cash value in a choice of stock, bond, or money market-based investment options offered by AXA. Cash values and death benefits can rise and fall based on the performance of your investment choices without a guarantee on cash values. There is more risk, and potentially more reward based on market performance.
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Retirement
- Variable Annuities allow for market appreciation through investment options with tax-deferred accumulation and future income. There is more risk and potential more reward based on market performance. Alleviating some of that risk, for an additional fee, clients may opt to include guarantees of principal and downside protection.
- Traditional Individual Retirement Accounts provide people with immediate tax benefits that can lower customer’s taxable income and reserve assets to set aside
for retirement to accumulate without immediate taxation, earnings grow tax deferred until withdrawn. However, Roth IRAs
contributions do not lower the client’s taxable income, but qualified earnings can be withdrawn tax-free. Simplified Employee Pension Plans (SEP IRA) provide employers
with an easy opt-in service to save for retirement available to themselves and employees. Coverdell Education Savings Accounts allow clients to set aside savings
to fund a college education with tax advantages similar to those found in retirement IRAs.
Investments
- Brokerage and Advisory Accounts provide individualized asset allocation strategy and account management to sell, buy and hold a wide range of investments, including stocks, bonds, and mutual funds.
- Mutual Funds, provided by BlackRock, ING, Oppenheimer among others, offer a broad range of mutual funds with different investment objectives, designed to meet personal financial and investment goals.
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