MassMutual has launched a new private wealth division aimed at supporting its affiliated advisor network as it targets high-net-worth and more complex clients, according to Wealth Management. The insurer oversees more than $274 billion through its independent broker-dealer and RIA subsidiary.
Advisors affiliated with MML Investor Services can now work with MassMutual Private Wealth to access advanced planning resources, trust services, and institutional-level investment support, Wealth Management reported. Daken Vanderburg, MassMutual's chief investment officer and head of the new division, said the initiative focuses on expanding capabilities across the advisor network rather than moving a defined group of advisors into a new channel.
The firm stood up the division at the end of 2025 and made it available to advisors this year, according to Wealth Management. MassMutual previously disclosed the new unit in a securities filing. Vanderburg said the firm responded to demographic shifts, particularly the faster growth of wealthy households compared to the overall population growth.
To create the private wealth division, MassMutual consolidated multiple internal business units into a single platform to deliver a more cohesive experience for advisors and clients, Wealth Management reported. Those capabilities include investment model management, OCIO-customized portfolios, direct indexing, and trust services. While all advisors can access the division based on client needs, a smaller core group consistently works with higher-net-worth and more complex relationships.
The expansion comes as competition for high-net-worth clients continues to intensify. Wealth Management cited Cerulli Associates data projecting that households with $5 million or more in investable assets will grow at an annual rate of approximately 9.3 percent and exceed $30 trillion in total assets by 2028.
Client data cited by Wealth Management shows that MML Investor Services' client base remains concentrated in the mass-affluent segment, with approximately 92 percent classified as individual investors. High-net-worth clients account for about 5 percent of the firm's client base, with the remainder made up of corporate and retirement plan relationships.
Vanderburg told Wealth Management that MassMutual's national advisor presence and long-standing brand recognition position the firm to compete for a larger share of wealthy clients. He also emphasized MassMutual's structure as a mutual company owned by policyholders, which he said allows the firm to focus on long-term client engagement rather than quarterly earnings pressures.
Although insurance, risk, and retirement products remain central to the firm's business, Vanderburg said MassMutual has invested steadily in planning, advice, and wealth services over the past 15 years, according to Wealth Management. The firm's core advisor technology platform is Advisor360, and MassMutual also offers Orion as an optional investment platform for MML advisors.
Wealth Management reported that MML Investor Services provides advisors with access to multiple financial planning tools and continues to test additional retirement distribution solutions. The firm has also introduced AI-based tools to support advisors. Vanderburg said most planning resources remain broadly available, with more specialized tools tied to business needs.
Vanderburg told Wealth Management that the firm's approach begins with identifying the issues families face and using financial planning as the framework to integrate solutions, rather than emphasizing individual products.
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