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MML Investors Services

SEC-registered adviser since 1993Springfield, MACRD 10409

$115.6B
AUM
454,836
Clients
See fees
Fee
4,961
Advisory staff

From Form ADV filed 3 September 2026 · data retrieved 15 October 2026SEC record

MML Investors Services is an investment adviser headquartered in Springfield, Massachusetts, and registered with the SEC since 1993. Its clients include other individuals, high-net-worth individuals, and corporations and other businesses. High-net-worth individuals account for 5% of its regulatory assets under management.

Its services include financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, and educational seminars. Fee arrangements include a percentage of assets under management, hourly charges, fixed fees and other arrangements. Massmutual Holding LLC owns 75% or more of MML Investors Services, and Vaughn Charles Bowman is its CEO.

Clients

MML Investors Services serves 454,836 clients, 447,952 of them other individuals. The average client has about $254,000 with the firm, and high-net-worth clients hold 5% of its $115.6 billion in assets.

Regulatory assets by client type
  • Individuals447,952 clients91%
  • High-net-worth individuals885 clients5%
  • OtherBanking or thrift institutions, Investment companies, Pension and profit-sharing plans, Charitable organizations, Corporations and other businesses3%
Show client breakdown
Individuals (other than HNW)
Clients
447,952
Regulatory AUM
$105,772,322,686
Share
91.5%
Avg. per client
$236K
High-net-worth individuals
Clients
885
Regulatory AUM
$6,158,206,270
Share
5.3%
Avg. per client
$6.96M
Banking or thrift institutions
Clients
12
Regulatory AUM
$91,621,371
Share
0.1%
Avg. per client
$7.64M
Investment companies
Clients
1
Regulatory AUM
$85,766
Share
0.0%
Avg. per client
$86K
Pension and profit-sharing plans
Clients
3,379
Regulatory AUM
$1,438,328,823
Share
1.2%
Avg. per client
$426K
Charitable organizations
Clients
733
Regulatory AUM
$306,714,830
Share
0.3%
Avg. per client
$418K
Corporations and other businesses
Clients
1,873
Regulatory AUM
$1,870,959,485
Share
1.6%
Avg. per client
$999K
Other
Clients
1
Regulatory AUM
$0
Share
0.0%
Avg. per client
$0

Total

Clients
454,836
Regulatory AUM
$115,638,239,231
Share
100%
Avg. per client
$254K

What it does

MML Investors Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, educational seminars and other activities. It is paid through a percentage of assets, hourly charges, fixed fees and other arrangements.

MML Investors Services provided financial planning to 22,000 clients last fiscal year and advises no private funds.

61.1% of assets ($70.67B across 229,410 accounts) are managed with discretion; $44.96B across 225,447 accounts are not. $215.59B sits in a wrap fee program the firm both sponsors and manages. 0% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end
  • Stocks20%
  • Funds73%
  • Bonds3%
    • U.S. government and agency bonds1%
    • State and local bonds1%
    • Investment grade corporate bonds1%
  • Cash3%

Filed values cover 99%. The neutral 1% gap has no reported category.

Custodians

MML Investors Services’ client accounts are held mainly at Fidelity, with 20% of managed assets. MML Investors Services has custody of $107.14B for 481,519 clients.

Managed account assets by custodian
  • FidelityNational Financial Services LLC · Boston, MA · $22.92B20%
  • All other custodians$92.72B80%

Ownership and leadership

Massmutual Holding LLC owns 75% or more of MML Investors Services, and Vaughn Charles Bowman is its CEO.

Who owns the firm
MML Investors Services, LLC· the adviser

  • Massmutual Holding LLC

    Control person · since July 2004

    Owns 75% or more of MML Investors Services, LLC

Leadership

  • Vaughn Charles Bowman
    Chief Executive Officer, President and Chairman of the Board
  • Edward Karl Duch III
    Chief Legal Officer, Secretary and Vice President
  • David Myers Mink
    Vice President and Chief Operations Officer
  • Mary Bea Wilkinson
    Vice President
  • Frank Rispoli
    Chief Financial Officer and Treasurer
  • Courtney McKenzie Rogers Reid
    Chief Compliance Officer
  • Thomas K Bauer
    Chief Technology Officer
  • Geoffrey Craddock
    Director
  • Gregory Giardiello
    Director
  • Paul Anthony Lapiana
    Director
  • Joseph Patrick III Mallee
    Director
  • George Ashley IV Randall
    Field Risk Officer
  • John Arthur Vaccaro
    Chairman Emeritus

Staff

  • 6,976 employees
  • 4,961 in advisory functions
  • 5,405 state-registered reps
  • 6,976 broker-dealer reps
  • 5,494 insurance agents
  • 51 soliciting firms

Reported holdings

MML Investors Services’ reported 13F holdings total $49.01B across 3,254 positions, and the ten largest make up 16.7% of it.

$49.01B
Reported 13F value
3,254
Positions
16.7%
In the 10 largest
+35.9%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. iShares TR · Core S&P500 ETF4.3%
  2. Nvidia Corporation1.8%
  3. Apple Inc.1.8%
  4. Invesco Qqq TR · Unit Ser 11.4%
  5. Vanguard Tax-managed Fds · Van FTSE Dev Mkt1.3%
  6. Blackrock ETF Trust · iShares US Equit1.3%
  7. Microsoft Corp.1.2%
  8. Vanguard Index Fds · S&P 500 ETF Shs1.2%
  9. Amazon Com Inc.1.2%
  10. iShares TR · S&P 500 Grwt ETF1.1%

Together, the ten largest are 16.7% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 7 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $49.01B is not its $115.64B in regulatory assets and does not represent any individual client's portfolio.

Fees

MML Investors Services is paid through a percentage of assets under management, hourly charges, fixed fees (other than subscription fees) and other.

MML Investors Services’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, MML Investors Services has 1,093 offices, with 26 listed addresses across 14 states.

Listed office addresses by state

Massachusetts · 5 listed addresses

  • 1295 State Street, SpringfieldHQ
  • 301 Edgewater Place, Wakefield
  • 100 William Street, Wellesley
  • 280 Congress ST., Boston
  • 1 Marina Park Drive, Boston

Other business names

MML Investors Services has reported 7 other business names to the SEC.

  • In Good Company
  • MML Investors Services
  • Massmutual Private Wealth
  • Massmutual Wealth Management
  • The Establishment
  • The Establishment by Barnum Financial Group
  • The Establishment by Massmutual

Registration details

Legal name
MML Investors Services, LLC
Headquarters
1295 State Street, Springfield, MA 01111-0001
Phone
413-226-0000
Website
www.mmlinvestors.com
SEC file
801-44264
Structure
Massachusetts LLC
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 MML Investors Services have?

MML Investors Services has 454,836 clients and manages $115.6 billion for them, as of September 2026. They include 447,952 other individuals, 3,379 pension and profit-sharing plans and 1,873 corporations and other businesses.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 3 September 2026

What services does MML Investors Services offer?

MML Investors Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, educational seminars and other activities.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does MML Investors Services use?

MML Investors Services’ separately managed account assets are held at National Financial Services LLC (Boston, MA), with $22,922,990,093. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 3 September 2026

How many financial advisors does MML Investors Services have?

MML Investors Services has 5,405 investment adviser representatives registered with state securities authorities, out of 6,976 employees, and 4,961 perform investment advisory functions. 6,976 are registered representatives of a broker-dealer and 5,494 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 MML Investors Services invest in?

At the end of its last fiscal year, MML Investors Services’ separately managed accounts held 73% registered funds (mutual funds, ETFs, BDCs), 20% exchange-traded equities, 3% cash and equivalents, 1% U.S. government and agency bonds, 1% state and local bonds and 1% investment grade corporate bonds. 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 MML Investors Services?

MML Investors Services is owned through a holding company by Massachusetts Mutual Life Insurance Company. Its direct owner is Massmutual Holding LLC (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 3 September 2026

How does MML Investors Services get paid?

MML Investors Services is paid through a percentage of assets under management, hourly charges, fixed fees 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

Sources

  1. Form ADV Part 1A, amendment filed 3 September 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 10409.
  3. Form 13F-HR, filed 7 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with MML Investors Services, LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.