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MML Investors Services Review

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MML Investors Services, LLC

MML Investors Services, LLC is a fee-based firm headquartered in Springfield, Massachusetts. Serving more than 185,000 clients and offering various advisory services, the financial advisor has nearly $30.1 billion in assets under management (AUM). MML Investors' 5,000 advisors serve a range of different clients. 

MML Investors Services, LLC Background

MML Investors has been in business since its founding in 1981. The firm became a registered investment advisor (RIA) in 1993, and it also holds membership with the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). MML Investors also functions as a subsidiary of MassMutual Holding LLC, which is in turn a subsidiary of Massachusetts Mutual Life Insurance Company.

MML Investors Services, LLC Client Types and Minimum Account Sizes

The firm offers advice to 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 $250,000, depending on the specific asset management program. The firm also charges a minimum fee of $150 for its Unified Managed Account (UMA) program. 

Services Offered by MML Investors Services, LLC

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, LLC 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, LLC

MML Investors works with Envestnet Asset Management, Inc. in a co-advisory effort to provide a range of investment programs. The advisory fees for the Envestnet programs range from 0.30-1.20%. Envestnet Portfolio Solutions programs also come with advisory fees ranging from 0.30% to 1.20%. The firm’s Mutual Fund Allocation Program comes with an annual client fee of 1.00% and an advisory fee of 0.75%.

What to Watch Out For

The firm may recommend mutual funds advised or distributed by affiliates, resulting in additional compensation. This can create a conflict of interest if advisors favor such funds over client needs, but the firm’s fiduciary duty prevents this. 


MML Investors’ Form ADV lists more than 30 disclosures related to criminal and regulatory actions. Most recently, in 2017, the firm and two of its affiliates, MML Strategic Distributors, LLC and Oppenheimerfunds Distributor, Inc., consented to censure and a fine after failing to manage electronic brokerage records in a format known as “write once read many (WORM). ” 

The disclosure states that FINRA also accused MML Investors and the two affiliates of failing to provide 90-day notice prior to retaining a vendor to provide electronic storage. The disclosure also describes that the firm experienced notice, audit and attestation deficiencies that impeded its ability to preserve electronic records. The disclosure listed other violations related to letters of undertaking and supervisory procedures. The case was resolved through censure and a fine of $750,000.

Opening an Account With MML Investors Services, LLC 

If you’re interested in setting up an account with MML Investors, you can either fill out the firm’s contact form, or you can set up an appointment with an advisor by calling the firm at 1-800-542-6767.

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

How Many Years $1 Million 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.

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

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

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%. This reflects the typical return on a conservative investment portfolio. 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