MML Investors Services, LLC

MML Investors Services, LLC

A subsidiary of Massachusetts Mutual Life Insurance Company


1295 State St.

Springfield, MA 01111

(800) 542-6767

Clearing firm: National Financial Services LLC

No. advisers: 7,207

AUM: $207,349,627,000

Year founded: 1981

Year end: Dec. 31

No. of retail offices: 1,458

For More Information

CEOJohn Vaccaro
Top ExecutiveWendy Benson
Recruiting ContactJulie Davis
(413) 744-6337
Compliance ContactCourtney Reid
(413) 744-6201
Marketing ContactJennifer Halloran
(617) 695-4312
Technology Operations ContactThomas Bauer
(413) 744-7668

Recruitment & Staffing

2020 2019 2018
No. of reps6,9507,2077,316
No. of reps, male
No. of reps, female
No. of producing reps7,9338,3368,424
No. of producing reps, male
No. of producing reps, female
No. of reps producing $100K-$499K /year2,1632,2152,242
No. of reps producing $500K+ /year459389359
No. of CFPs63500
No. of full-time employees596588731
No. of fee-based advisers served5,6275,2915,360
Average payout per rep, per year$127,320$113,712$109,529
Avg. annual production of top 20% reps$465,632$415,236$393,111
Total payout, per year$1,010,029,573$947,905,723$922,669,347
Cost of E&O insurance per rep, per year$760$760$760
Affiliation fees charged per rep, per yearNoneNonenone
Affiliation fee coverage
$0-$249,999 $250K-$499,999 $500K-$749,999 $750K-$999,999 $1,000,000+
Mutual funds 40% - 80% 80% - 82.5% 80% - 82.5% 82.5% 82.5%
Insurance 40% - 80% 80% - 82.5% 80% - 82.5% 82.5% 82.5%
Variable annuities 40% - 80% 80% - 82.5% 80% - 82.5% 82.5% 82.5%
Limited parterships 40% - 80% 80% - 82.5% 80% - 82.5% 82.5% 82.5%
Securities 40% - 80% 80% - 82.5% 80% - 82.5% 82.5% 82.5%
2020 2019 2018
Total revenues$1,239,300,000$1,184,702,241$1,126,611,001
Commission revenues$692,500,000$688,977,797$678,228,768
Securities revenues$21,200,000$18,892,231$17,848,024
Securities revenues: Stocks$9,300,000$6,208,823$4,371,744
Securities revenues: Bonds$600,000$672,441$913,858
Securities revenues: ETFs0
Securities revenues: Other$11,300,000$12,010,968$12,562,422
Mutual fund revenues$158,905,320$178,473,946$181,967,273
Annuities revenues$475,236,923$449,091,120$438,985,380
Annuities revenues: Fixed$10,436,923$10,870,079$972,560
Annuities revenues: Variable$464,800,000$449,091,120$438,012,820
Annuities revenues: Other0
Insurance revenue$33,563,077$38,665,182$34,865,846
Insurance revenues: Life$32,321,227$38,665,182$34,388,476
Insurance revenues: Disabilities0
Insurance revenues: LTC$1,241,850$877,358$477,370
Insurance revenues: Other0
Alternative revenues$3,594,680$3,855,317$4,562,245
Alternative revenues: Hedge funds0
Alternative revenues: Managed futures0
Alternative revenues: Private placements0
Alternative revenues: REITs0
Alternative revenues: Other$3,594,680$3,855,317$4,562,245
Other commission revenues000
Fee revenues$539,400,000$484,342,333$443,746,613
Fee revenues: Rep-managed accounts$96,723,462$84,096,720$83,425,535
Fee revenues: Firm-managed accounts000
Fee revenues: Outside-managed accounts$425,876,538$382,088,443$343,508,294
Fee revenues: Other$16,800,000$18,157,170$16,812,784
Total revenues: Other$7,400,000$11,382,111$4,635,620
2020 2019 2018
Total account assets$231,200,000,000$207,349,627,000$181,600,000,000
Fee-based assets$62,400,000,000$53,449,627,000$41,800,000,000
Fee-based assets: Clearing firm$43,400,000,000$34,852,627,000$25,600,000,000
Fee-based assets: Advisory firm platforms00
Fee-based assets: Third-party money managers$19,000,000,000$18,597,000,000$16,200,000,000
Fee-based assets: Other000
Total account assets: Other$168,800,000,000$153,900,000,000$139,800,000,000
Average assets per rep$33,266,187$28,770,588$24,822,307

A PHP Error was encountered

Severity: Notice

Message: Undefined index: tech

Filename: tac/profile.php

Line Number: 1349

Social Media & Mobile
Software Offered
Account aggregation software eMoney 360 (eMoney Advisor)
Compliance software Protegent Surveillance (SunGard Data Systems Inc.)
CRM Salesforce CRM (
Document management
Financial planning eMoney360 (eMoney Advisor)
Business Enterprise Institute
Portfolio management Envestnet (Envestnet)
Portfolio rebalancing
Offers robo-advisory platform?N
If not, when plans to offer a robo-platform0-6 months
Robo-advice services offered
How robo-platform developed
Charge for robo-advisory services?
  • N/A = Not available
  • N/D = Not disclosed
  • — = Information not available or not disclosed

All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.

Purchase the complete set of our independent broker-dealer data and profiles in an Excel spreadsheet.

For comments or suggestions about the Adviser Center, please contact us.

Disclaimer: All data and information is the property of InvestmentNews and is protected by copyright and other intellectual property laws. All rights are reserved by InvestmentNews. The data may only be used for internal business use such as to develop a mailing list but the data may not be resold, republished, redistributed, sublicensed or publicly displayed on a web site without the permission of InvestmentNews. All information contained within was obtained through InvestmentNews' annual independent B-D surveys.