Clients
Massachusetts Financial Services serves 355 clients, 187 of them investment companies. The average client has about $1.45 billion with the firm.
- Investment companies187 clients85%
- Pooled investment vehicles115 clients14%
- OtherPension and profit-sharing plans, Charitable organizations, State or municipal government entities, Insurance companies, Sovereign wealth funds and foreign official institutions, Corporations and other businesses1%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Investment companies | 187 | $436,503,794,913 | 84.9% | $2.33B |
| Pooled investment vehicles | 115 | $70,809,843,695 | 13.8% | $615.7M |
| Pension and profit-sharing plans | 18 | $3,294,871,647 | 0.6% | $183.0M |
| Charitable organizations | 1 | $51,059,768 | 0.0% | $51.1M |
| State or municipal government entities | 2 | $704,813,501 | 0.1% | $352.4M |
| Insurance companies | 2 | $86,544,072 | 0.0% | $43.3M |
| Sovereign wealth funds and foreign official institutions | 4 | $2,457,542,471 | 0.5% | $614.4M |
| Corporations and other businesses | 26 | $142,707,230 | 0.0% | $5.49M |
| Total | 355 | $514,051,177,297 | 100% | $1.45B |
- Clients
- 187
- Regulatory AUM
- $436,503,794,913
- Share
- 84.9%
- Avg. per client
- $2.33B
- Clients
- 115
- Regulatory AUM
- $70,809,843,695
- Share
- 13.8%
- Avg. per client
- $615.7M
- Clients
- 18
- Regulatory AUM
- $3,294,871,647
- Share
- 0.6%
- Avg. per client
- $183.0M
- Clients
- 1
- Regulatory AUM
- $51,059,768
- Share
- 0.0%
- Avg. per client
- $51.1M
- Clients
- 2
- Regulatory AUM
- $704,813,501
- Share
- 0.1%
- Avg. per client
- $352.4M
- Clients
- 2
- Regulatory AUM
- $86,544,072
- Share
- 0.0%
- Avg. per client
- $43.3M
- Clients
- 4
- Regulatory AUM
- $2,457,542,471
- Share
- 0.5%
- Avg. per client
- $614.4M
- Clients
- 26
- Regulatory AUM
- $142,707,230
- Share
- 0.0%
- Avg. per client
- $5.49M
Total
- Clients
- 355
- Regulatory AUM
- $514,051,177,297
- Share
- 100%
- Avg. per client
- $1.45B
What it does
Massachusetts Financial Services provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and other arrangements.
Massachusetts Financial Services advises no private funds.
92.8% of assets ($476.82B across 311 accounts) are managed with discretion; $37.23B across 44 accounts are not. 26% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks96%
- Bonds3%
- U.S. government and agency bonds1%
- Sovereign bonds1%
- Investment grade corporate bonds1%
- Cash1%
Custodians
Massachusetts Financial Services’ client accounts are held mainly at State Street Bank and Trust, with 0% of managed assets, and Brown Brothers Harriman &, with 0%. Massachusetts Financial Services has custody of $32.65B for 66 clients.
- OtherBrown Brothers Harriman &, State Street Bank and Trust, Sumitomo Mitsui Trust Bank (u.s.a.) Limited, J.P. Morgan, The Northern Trust, All other custodians100%
Ownership and leadership
Sun Life of Canada (u.s.) Financial Services Holdings, Inc. owns 75% or more of Massachusetts Financial Services, and Edward Maloney is its CEO.
- Owns 75% or more of Massachusetts Financial Services Company
Sun Life of Canada (u.s.) Financial Services Holdings, Inc.
Control person · since December 1997
- Owns 75% or more of Sun Life of Canada (u.s.) Financial Services Holdings, Inc.
Sun Life Financial (u.s.) Investments LLC
Control person · since October 2001
- Owns 75% or more of Sun Life Financial (u.s.) Investments LLC
Sun Life Financial (u.s.) Holdings, LLC
Control person · since October 2001
- Owns 75% or more of Sun Life Financial (u.s.) Holdings, LLC
Sun Life Assurance Company of Canada - U.s.operations Holdings, Inc.
Control person · since October 2001
- Owns 75% or more of Sun Life Assurance Company of Canada - U.s.operations Holdings, Inc.
Sun Life 2007-1 Financing Corp.
Control person · since November 2016
- Owns 75% or more of Sun Life 2007-1 Financing Corp.
Sun Life Global Investments Inc.
Control person · since November 2016
- Owns 75% or more of Sun Life Global Investments Inc.
Sun Life Financial Inc.
Control person · since November 2004
Leadership
- Edward MaloneyDirector, President and Chief Executive Officer
- Heidi HardinDirector, Executive Vice President, General Counsel, and Secretary
- John CorcoranChief Financial Officer
- Rosa Licea-MaillouxChief Compliance Officer
- Melissa KennedyDirector
- Thomas MurphyDirector
- Michael RobergeDirector, Chairman of the Board, and Chairman
- Kevin StrainDirector
Staff
- 1,244 employees
- 327 in advisory functions
- 65 broker-dealer reps
Reported holdings
Massachusetts Financial Services’ reported 13F holdings total $315.17B across 1,005 positions, and the ten largest make up 23.1% of it.
- $315.17B
- Reported 13F value
- 1,005
- Positions
- 23.1%
- In the 10 largest
- +5.9%
- Value vs. prior quarter
- Nvidia Corporation4.3%
- Alphabet Inc. · Cap Stk CL A3.3%
- Apple Inc.2.8%
- Amazon Com Inc.2.8%
- Microsoft Corp.2.8%
- Broadcom Inc.1.7%
- Taiwan Semiconductor Manufac · Sponsored ADS1.5%
- KLA Corp.1.4%
- JPMORGAN Chase & CO1.3%
- Linde PLC1.0%
Together, the ten largest are 23.1% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $315.17B is not its $514.05B in regulatory assets and does not represent any individual client's portfolio.
Fees
Massachusetts Financial Services is paid through a percentage of assets under management and other.
Massachusetts Financial Services’ fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Massachusetts Financial Services has 0 offices, with 1 listed address in 1 state.
Massachusetts · 1 listed address
- 111 Huntington Avenue, BostonHQ
Other business names
Massachusetts Financial Services has reported 1 other business name to the SEC.
- Massachusetts Financial Services Company
Registration details
- Legal name
- Massachusetts Financial Services Company
- Headquarters
- 111 Huntington Avenue, Boston, MA 02199-7618
- Phone
- 617-954-5000
- Website
- Not reported
- SEC file
- 801-17352
- Structure
- Delaware corporation
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Massachusetts Financial Services have?
Massachusetts Financial Services has 355 clients and manages $514.1 billion for them, as of March 2026. They include 187 investment companies, 115 pooled investment vehicles and 26 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does Massachusetts Financial Services offer?
Massachusetts Financial Services provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Massachusetts Financial Services use?
Massachusetts Financial Services’ separately managed account assets are held at State Street Bank and Trust Co. (Boston, MA), with $1,839,850,969, Brown Brothers Harriman & Co. (Boston, MA), with $1,572,709,347, Sumitomo Mitsui Trust Bank (u.s.a.) Limited (Hoboken, NJ), with $1,236,627,333, JP Morgan Chase Bank, N.A. London (London), with $863,251,796 and The Northern Trust Company (Chicago, IL), with $760,398,732. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 March 2026
How many financial advisors does Massachusetts Financial Services have?
Massachusetts Financial Services has 0 investment adviser representatives registered with state securities authorities, out of 1,244 employees, and 327 perform investment advisory functions. 65 are registered representatives of a broker-dealer and 0 are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Massachusetts Financial Services invest in?
At the end of its last fiscal year, Massachusetts Financial Services’ separately managed accounts held 96% exchange-traded equities, 1% U.S. government and agency bonds, 1% sovereign bonds, 1% investment grade corporate bonds and 1% cash and equivalents. It advises no private funds of its own.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Massachusetts Financial Services?
Massachusetts Financial Services is owned through a chain of holding companies by Sun Life Financial Inc. Its direct owner is Sun Life of Canada (u.s.) Financial Services Holdings, Inc. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does Massachusetts Financial Services get paid?
Massachusetts Financial Services is paid through a percentage of assets under management and other arrangements. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file