Guides › Financial Advisor Fees
Updated September 19, 2026. Quick answer: MassMutual is registered with the SEC as both a broker-dealer and an investment adviser. Per its own current fee brochure, a $500,000 account would run up to $10,350 a year (the sum of the firm’s published maximum fee components) under its published fee schedule; the minimum to open an account is $5,000 to $50,000 for Portfolio Solutions Programs, depending on strategy. Is it a fiduciary? Yes, when it is acting as your investment adviser; when the same representative acts as your broker-dealer instead, the applicable standard is best-interest, not fiduciary, and its own Form CRS states representatives can earn commissions in that capacity.
MassMutual at a glance
| Fact | What MassMutual’s own pages say |
|---|---|
| Legal entity | MML Investors Services, LLC |
| Registration | MML Investors Services, LLC (MMLIS, we, us, or our) is registered with the Securities and Exchange Commission as both a broker-dealer and an investment adviser. |
| Fee on a $500,000 account | Up to $10,350 a year (the sum of the firm’s published maximum fee components), per its own current brochure |
| Minimum to open an account | $5,000 to $50,000 for Portfolio Solutions Programs, depending on strategy |
| Cost to leave (exit fee) | See how to leave MassMutual |
What MassMutual’s own fee schedule charges
“The Client Fee includes an Execution, Clearing and Custody Fee of 0.06%, a negotiable Advisory Fee up to a maximum of 1.54%, and any applicable fees to Strategists. … Strategist Fees range from 0.05% to 0.47%.”
MMLIS’s Client Fee for the Portfolio Solutions Programs is built from three disclosed components rather than one published schedule: a fixed 0.06% Execution/Clearing/Custody Fee, a negotiable Advisory Fee capped at 1.54% of AUM, and a Strategist Fee ranging 0.05%-0.47% depending on which asset-allocation model/strategist is selected (or 0% if none). Worst-case ceiling = 0.06% + 1.54% + 0.47% = 2.07%, applied uniformly to compute dollar_at as the maximum a client could be charged (250000*0.0207=5175; 500000*0.0207=10350; 1000000*0.0207=20700; 2000000*0.0207=41400). A client’s actual fee would typically be lower depending on the negotiated Advisory Fee and the Strategist Fee of the specific model chosen.
| Account balance | Annual fee |
|---|---|
| $250,000 | $5,175 |
| $500,000 | $10,350 |
| $1,000,000 | $20,700 |
| $2,000,000 | $41,400 |
See the full breakdown, including how the figure is calculated, on MassMutual’s own fee page.
Is MassMutual a fiduciary?
MML Investors Services, LLC (MMLIS, we, us, or our) is registered with the Securities and Exchange Commission as both a broker-dealer and an investment adviser.
“When we provide you with a recommendation as your broker-dealer or act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests.”
When you buy or sell individual securities, such as stocks, bonds, or exchange traded funds (ETFs), you will pay us a commission at the time of the transaction.
Full detail, including the exact registration type and source: MassMutual’s fiduciary status, explained.
The minimum to open an account
“The minimum initial funding to open an Account in the Portfolio Solutions Programs vary by Strategist and/or Model, and ranges from $5,000 – $50,000.”
$5,000 to $50,000 for Portfolio Solutions Programs, depending on strategy. See the full minimum-investment breakdown, including what that minimum would cost per year, on MassMutual’s minimum investment page.
What it costs to leave
A dedicated how-to-leave page for MassMutual covers the exit costs in full. The general mechanics of switching financial advisors and a dated termination letter apply regardless of firm.
What we would compare it against
Before you decide, run the numbers against another firm using the financial advisor fee comparison, or price the dollar cost of any percentage fee over time with the Financial Advisor Fee Calculator and the Fee Drag Calculator.
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Source: WiserAdvisor’s service descriptionSources
- MML Investors Services, LLC – MMLIS Wealth Management Services Portfolio Solutions Programs Wrap Fee Brochure (Form ADV Part 2A Appendix 1) (July 10, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1051357
- Form CRS (Client Relationship Summary) (October 29, 2025): https://files.brokercheck.finra.org/crs_10409.pdf
- SEC Investment Adviser Public Disclosure, MML Investors Services, LLC (CRD #10409): https://adviserinfo.sec.gov/firm/summary/10409
- MML Investors Services, LLC, SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/10409/PDF/10409.pdf
Methodology. This page was built September 19, 2026, drawing directly on MassMutual’s own current fee brochure and Form CRS, both linked above, plus this site’s own already-published fiduciary, minimum-investment, and (where one exists) how-to-leave pages for the same firm, each independently sourced when it was built. Any distinction we could not independently confirm this session is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading MassMutual’s own Form ADV Part 2A and Form CRS. We have not used MassMutual as a client. MassMutual did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
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