MML Investors Services (MMLIS) offers investment advisory and fiduciary services to retirement plan sponsors. MMLIS, through a home office team, acts as an investment manager, reviewing investment options, creating investment menus, and monitoring investment performance. MMLIS also offers a managed account service for plan participants in certain plans, where Morningstar manages the participant's investment selection. MMLIS also provides non-fiduciary services such as enrollment services, participant education, and education for plan sponsors.
Fee Structure
MML Investors Services manages investment menus for retirement plans and offers a managed account service for participants.
For the overall plan, MMLIS selects and monitors investment options. For participants using the managed account service, fees are charged quarterly, up to a maximum of 0.60% per year of the account value. MMLIS receives 0.10% of this fee, with the remainder going to Morningstar and the recordkeeper. The exact fees vary by recordkeeper and whether the service is a Qualified Default Investment Alternative.