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MML Investors Services Review

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MML Investors Services, LLC

Indirectly owned by Massaschusetts Mutual Life Insurance Company (Mass Mutual), MML Investors Services, LLC is an investment advisor and a brokerage. It is headquartered in Springfield, Massachusetts and has over one thousand branches across the country. This network of advisors serves hundreds of thousands of individual clients, most of whom do not have high net worths.

As a fee-based firm, MML earns both third-party and client-paid compensation. On the contrary, a fee-only firm eliminates all third-party income, instead focusing entirely on client-paid fees.

MML Investors Services Background

MML Investors has been in business since 1981. The firm became a registered investment advisor (RIA) in 1993, and as a broker-dealer holds memberships with the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).

As noted earlier, MML Investors is indirectly owned by Mass Mutual. Specifically, it is a subsidiary of MassMutual Holding LLC, which is in turn a subsidiary of the insurance company.

MML Investors Services Client Types and Minimum Account Sizes

The firm works with individuals and high-net-worth individuals, endowments and foundations, trusts, estates, Fidelity Charitable donor-advised accounts and business entities and/or qualified plans.

MML Investors’ account minimum varies based on account type. The account minimums range anywhere from $20,000 to $1,000,000, depending on the asset management program.

Services Offered by MML Investors Services

MML Investors offers its clients an extensive range of services, including:

  • Portfolio management
  • Financial planning
  • Pension consulting
  • Selection of other advisors
  • Educational workshops/seminars
  • Asset allocation programs

MML Investors Services Investment Philosophy

MML Investors explains on its firm brochure that it utilizes third-party investment advisors and money managers to perform investment research and provide asset allocation recommendations. The firm says it emphasizes regular portfolio review, long-term perspectives, portfolio diversification and systematic investing and dollar cost averaging. 

The firm invests in mutual funds, exchange-traded funds (ETFs), variable annuity sub-accounts, individual equities, individual fixed income securities and managed accounts.  

Fees Under MML Investors Services

For financial planning, fees depend on a number of factors, including the complexity and scope of services, the advisor, the geographic location and your net worth. Typically, they will not exceed $25,000, and there is a minimum $500 fee.

MML Investors works with Envestnet Asset Management, Inc. in a co-advisory arrangement to provide a range of investment programs. The advisory fees for the Envestnet programs range from 0.30 to 1.20% of assets under management. Envestnet Portfolio Solutions programs also come with advisory fees ranging from 0.30% to 1.20%. Unified managed accounts carry a maximum fee of 2.25% annually and 2.10% annual for the mutual fund version. Fees for other types of accounts may vary, and have varied significantly in the past. For more specific fee information, you should contact the firm directly.

What to Watch Out For

MML Investors reported 31 disclosures of legal and regulatory actions. Of them, several involved parent company Mass Mutual and several involved affilated individuals. Some involved MML Investors itself. The firm paid fines and submitted to other disciplinary action as a result.

Advisors are also broker-dealer representatives and insurance agents. These multiple roles can pose potential conflicts of interest. However, as a fiduciary, the advisor must act in your best interest at all times.

Opening an Account With MML Investors Services 

If you’re interested in setting up an account with MML Investors, you can either find an advisor close to you on the company's website, or you can set up an appointment with an advisor by calling the firm over the phone at (800)-542-6767.

All information was accurate as of the writing of this article.

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How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research