Mml Investors Services, LLC

CRD#10409
Investment Advisor Firm

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Overview

Mml Investors Services, LLC is a financial advisor company based in Springfield, Massachusetts. The company manages $62.9 billion in total assets over 287,089 customer accounts, making it one of the biggest financial advisory firms in the country by assets under management (AUM). It has a very large team, including 4,984 financial advisors. Mml Investors Services, LLC does not act as a registered broker-dealer, meaning the firm cannot buy and sell securities for its clients' and own accounts and instead has to go through a broker-dealer firm to do so. Securities are tradable fiscal investments like bonds, options and equities.

Mml Investors Services, LLC administers some of the firm's client assets in a discretionary manner. Discretionary management signifies that a portfolio manager makes buy and sell choices without needing the customer's authorization. The company also administers 177,752 non-discretionary accounts totaling $29.6 billion in assets. The investment advisory firm's typical account size is $219,257. The average advisor at Mml Investors Services, LLC administers about 58 client accounts, making it about average in terms of personalization.

The firm's central office is located at 1295 State Street, Springfield, Massachusetts 01111-0001. The firm is legally allowed to provide services to investors across 49 U.S. states and territories.

Assets Under Management

$62.9 billion

Number of Advisors

4,984

Disclosures

No

Office Location

1295 State Street
Springfield, MA 01111-0001

Mml Investors Services, LLC by the Numbers

Total Assets Under Management

$62.9 billion

National Average: $9.0 billion
Total Number of Employees

7,620

National Average: 71,771
Total Number of Accounts

287,089

National Average: 4,329
Average Account Size

$219.3 thousand

National Average: $2.1 million

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Products and Services

Mml Investors Services, LLC offers a number of financial services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers, educational seminars and other services. In the prior financial year, the firm provided 13500 of its accounts with financial planning services. It is engaged in selling products or offering services other than investment advice to its clients. Mml Investors Services, LLC is affiliated with one or more other companies in the financial services industry, including with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency, pension consultant, real estate broker or dealer and commodity pool advisor.

Core Advisor Services

  • Offered by 31% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 47% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 21% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Find a firm that offers this service

    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 7% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Financial advisory fees largely vary depending on the type of services provided. However, fees charged by the company can include any blend of the following fee structures: asset-based, hourly, fixed or other. The firm does participate in a wrap fee program, in which the firm offers a bundle of services for a comprehensive fee.

Available

  • Offered by 70% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 21% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 33% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

  • Offered by 10% of firms

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

Unavailable

  • Find one of the 1% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 26% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

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Types of Clients

The firm manages money for a broad range of customers. Mml Investors Services, LLC works with retail investors, high net worth investors, banking institutions, pension plans, charitable organizations, corporations and other. Out of its 287,089 customers, Mml Investors Services, LLC's biggest client type by number of accounts is retail investors, although it also manages money for 416 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 under management or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's customers are represented by people from outside of the U.S.

  • High-Net-Worth Individuals* - 0.14%
  • Other Individuals - 98.88%
  • Corporations - 0.84%
  • Charitable Organizations - 0.13%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Mml Investors Services, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Mml Investors Services, LLC

Dennis Chenette
Bedford, NH
Charles Prince
Melville, NY
Edward Motley
Whittier, CA
Kasey Closs
Wilsonville, OR
Matthew Foster
Lincolnton, NC
Dennis Hou
Brea, CA
Donna Caccia
Warwick, RI
Kevin Hardee
Hernando, MS
Carlos Forde Jr
Peachtree Corners, GA

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The content in this profile was updated by SmartAsset on 04/01/2022 using publicly available data compiled from the SEC and FINRA. To report any data inconsistencies or errors, please contact profile-compliance@smartasset.com.

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