Clients
MFS Institutional Advisors serves 13,555 clients, 9,145 of them other individuals. The average client has about $8.4 million with the firm, and high-net-worth clients hold 1% of its $113.6 billion in assets.
- Pooled investment vehicles124 clients40%
- Pension and profit-sharing plans253 clients15%
- State or municipal government entities51 clients17%
- Insurance companies37 clients7%
- Sovereign wealth funds and foreign official institutions12 clients13%
- OtherIndividuals, High-net-worth individuals, Investment companies, Charitable organizations, Corporations and other businesses, Other8%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 9,145 | $2,177,402,717 | 1.9% | $238K |
| High-net-worth individuals | 407 | $1,022,020,126 | 0.9% | $2.51M |
| Investment companies | 2 | $748,566,567 | 0.7% | $374.3M |
| Pooled investment vehicles | 124 | $45,968,149,355 | 40.5% | $370.7M |
| Pension and profit-sharing plans | 253 | $17,007,253,022 | 15.0% | $67.2M |
| Charitable organizations | 116 | $1,850,144,858 | 1.6% | $15.9M |
| State or municipal government entities | 51 | $19,672,263,617 | 17.3% | $385.7M |
| Insurance companies | 37 | $7,789,035,011 | 6.9% | $210.5M |
| Sovereign wealth funds and foreign official institutions | 12 | $14,558,671,292 | 12.8% | $1.21B |
| Corporations and other businesses | 114 | $606,347,072 | 0.5% | $5.32M |
| Other | 3,294 | $2,186,028,597 | 1.9% | $664K |
| Total | 13,555 | $113,585,882,234 | 100% | $8.38M |
- Clients
- 9,145
- Regulatory AUM
- $2,177,402,717
- Share
- 1.9%
- Avg. per client
- $238K
- Clients
- 407
- Regulatory AUM
- $1,022,020,126
- Share
- 0.9%
- Avg. per client
- $2.51M
- Clients
- 2
- Regulatory AUM
- $748,566,567
- Share
- 0.7%
- Avg. per client
- $374.3M
- Clients
- 124
- Regulatory AUM
- $45,968,149,355
- Share
- 40.5%
- Avg. per client
- $370.7M
- Clients
- 253
- Regulatory AUM
- $17,007,253,022
- Share
- 15.0%
- Avg. per client
- $67.2M
- Clients
- 116
- Regulatory AUM
- $1,850,144,858
- Share
- 1.6%
- Avg. per client
- $15.9M
- Clients
- 51
- Regulatory AUM
- $19,672,263,617
- Share
- 17.3%
- Avg. per client
- $385.7M
- Clients
- 37
- Regulatory AUM
- $7,789,035,011
- Share
- 6.9%
- Avg. per client
- $210.5M
- Clients
- 12
- Regulatory AUM
- $14,558,671,292
- Share
- 12.8%
- Avg. per client
- $1.21B
- Clients
- 114
- Regulatory AUM
- $606,347,072
- Share
- 0.5%
- Avg. per client
- $5.32M
- Clients
- 3,294
- Regulatory AUM
- $2,186,028,597
- Share
- 1.9%
- Avg. per client
- $664K
Total
- Clients
- 13,555
- Regulatory AUM
- $113,585,882,234
- Share
- 100%
- Avg. per client
- $8.38M
What it does
MFS Institutional Advisors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting and selecting other managers. It is paid through a percentage of assets, performance-based fees and other arrangements.
MFS Institutional Advisors advises 6 private funds.
100.0% of assets ($113.59B across 13,555 accounts) are managed with discretion. $5.83B sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 16 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks88%
- Exchange-traded equities87%
- Non-exchange-traded equities1%
- Funds2%
- Registered funds1%
- Pooled vehicles1%
- Bonds8%
- Sovereign bonds4%
- Investment grade corporate bonds2%
- State and local bonds1%
- High-yield corporate bonds1%
- Cash2%
Custodians
MFS Institutional Advisors’ client accounts are held mainly at The Northern Trust, with 16% of managed assets, and State Street Bank and Trust, with 11%. MFS Institutional Advisors has custody of $3.84B for 23 clients.
- The Bank of New York MellonThe Bank of New York Mellon · New York, NY · $7.78B7%
- The Northern TrustThe Northern Trust Company · Chicago, IL · $17.81B16%
- State Street Bank and TrustState Street Bank and Trust Co. · Boston, MA · $12.48B11%
- J.P. MorganJP Morgan Chase Bank, N.A. London · London · $9.41B8%
- All other custodians$66.09B58%
Ownership and leadership
Massachusetts Financial Services Company owns 75% or more of MFS Institutional Advisors.
- Owns 75% or more of MFS Institutional Advisors Inc.
Massachusetts Financial Services Company
Control person · since November 1992
- 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
- Sean KenneyPresident
- Rosa Licea-MaillouxChief Compliance Officer
- Deborah DoddsDirector
- Richard DrageDirector
- Heidi HardinDirector, Chair of the Board and Secretary
- Christine ModoonoDirector
- Joseph SmelstorTreasurer
- Aditi TaylorDirector
Staff
- 1,311 employees
- 327 in advisory functions
- 13 state-registered reps
- 130 broker-dealer reps
- 1 soliciting firm
Fees
MFS Institutional Advisors is paid through a percentage of assets under management, performance-based fees and other.
MFS Institutional Advisors’ fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, MFS Institutional Advisors has 0 offices, with 1 listed address in 1 state.
Massachusetts · 1 listed address
- 111 Huntington Avenue, BostonHQ
Registration details
- Legal name
- MFS Institutional Advisors Inc.
- Headquarters
- 111 Huntington Avenue, Boston, MA 02199-7618
- Phone
- 617-954-5000
- Website
- Not reported
- SEC file
- 801-46433
- 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 MFS Institutional Advisors have?
MFS Institutional Advisors has 13,555 clients and manages $113.6 billion for them, as of March 2026. They include 9,145 other individuals, 3,294 other clients and 407 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does MFS Institutional Advisors offer?
MFS Institutional Advisors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does MFS Institutional Advisors use?
MFS Institutional Advisors’ separately managed account assets are held at The Northern Trust Company (Chicago, IL), with $17,813,755,657, State Street Bank and Trust Co. (Boston, MA), with $12,482,289,508, JP Morgan Chase Bank, N.A. London (London), with $9,410,365,440 and The Bank of New York Mellon (New York, NY), with $7,784,490,827. 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 MFS Institutional Advisors have?
MFS Institutional Advisors has 13 investment adviser representatives registered with state securities authorities, out of 1,311 employees, and 327 perform investment advisory functions. 130 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 MFS Institutional Advisors invest in?
At the end of its last fiscal year, MFS Institutional Advisors’ separately managed accounts held 87% exchange-traded equities, 4% sovereign bonds, 2% investment grade corporate bonds, 2% cash and equivalents, 1% non-exchange-traded equities, 1% state and local bonds, 1% high-yield corporate bonds, 1% registered funds (mutual funds, ETFs, BDCs) and 1% pooled vehicles (private funds and similar). It advises 6 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns MFS Institutional Advisors?
MFS Institutional Advisors is owned through a chain of holding companies by Sun Life Financial Inc. Its direct owner is Massachusetts Financial Services Company (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does MFS Institutional Advisors get paid?
MFS Institutional Advisors is paid through a percentage of assets under management, performance-based fees and other arrangements. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file