# MFS Institutional Advisors Inc.

> MFS Institutional Advisors Inc. is an SEC-registered investment advisory firm in Boston, MA, registered since 1994, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 107144
- Filed as: MFS INSTITUTIONAL ADVISORS INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boston, MA
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107144
- AdvisorCensus page: https://advisorcensus.com/firm/mfs-institutional-advisors-inc-boston-ma-107144

## Quick answers

**How is MFS Institutional Advisors Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), MFS Institutional Advisors Inc. reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other.

**Where is MFS Institutional Advisors Inc. located?**
MFS Institutional Advisors Inc.'s principal office is in Boston, MA, according to its Form ADV.

**Is MFS Institutional Advisors Inc. registered with the SEC or a state?**
MFS Institutional Advisors Inc. is an SEC-registered investment advisory firm, registered since 1994. Status as filed: Approved. CRD 107144.

**How much does MFS Institutional Advisors Inc. manage?**
MFS Institutional Advisors Inc. reports $113,585,882,234 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have MFS Institutional Advisors Inc.'s assets and staff changed since 2021?**
In the Form ADV data for MFS Institutional Advisors Inc.: Regulatory assets under management: $134,339,947,746 in the October 2021 data and $113,585,882,234 in the October 2026 data, down 15%. Total employees: 1,500 in October 2021 and 1,311 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does MFS Institutional Advisors Inc. serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (9,145); other (3,294); high net worth individuals (407).

**Which custodians does MFS Institutional Advisors Inc. use?**
MFS Institutional Advisors Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists JP Morgan Chase Bank, N.A. London, State Street Bank and Trust Co., The Bank of New York Mellon and The Northern Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does MFS Institutional Advisors Inc. report any disciplinary disclosures?**
Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(1) (SEC or CFTC finding of a false statement or omission), 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107144

**What changed in MFS Institutional Advisors Inc.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 331 to 327.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees
- Other

### Custodians (Schedule D, Section 5.K(3))
- JP Morgan Chase Bank, N.A. London
- State Street Bank and Trust Co.
- The Bank of New York Mellon
- The Northern Trust Company

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $113,585,882,234
- Discretionary: $113,585,882,234
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 9,145 | $2,177,402,717 |
| High net worth individuals | 407 | $1,022,020,126 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 2 | $748,566,567 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 124 | $45,968,149,355 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 253 | $17,007,253,022 |
| Charitable organizations | 116 | $1,850,144,858 |
| State or municipal government entities (including government pension plans) | 51 | $19,672,263,617 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 37 | $7,789,035,011 |
| Sovereign wealth funds and foreign official institutions | 12 | $14,558,671,292 |
| Corporations or other businesses not listed above | 114 | $606,347,072 |
| Other | 3,294 | $2,186,028,597 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 1994 (32 years)
- Employees: 1,311 total, 327 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 4 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(1): Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107144

### Websites listed on Form ADV (Item 1.I)
- mfs.com
- xing.com/pages/mfs-investment-management
- Facebook @followmfs
- LinkedIn @mfs-investment-management
- X @followmfs
- YouTube @followmfs

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $134,339,947,746 | 1,500 | May 12, 2021 |
| October 2022 | $146,411,056,016 | 1,200 | March 31, 2022 |
| October 2023 | $116,842,935,821 | 1,300 | March 31, 2023 |
| October 2024 | $128,519,177,590 | 1,300 | March 28, 2024 |
| October 2025 | $111,845,233,320 | 1,331 | March 31, 2025 |
| October 2026 | $113,585,882,234 | 1,311 | March 31, 2026 |

Regulatory assets under management: $134,339,947,746 in the October 2021 data and $113,585,882,234 in the October 2026 data, down 15%.
Total employees: 1,500 in October 2021 and 1,311 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 331 to 327.

### March 2026
- Updated its list of owners and control persons (Schedule A).

### February 2026
- Updated its list of owners and control persons (Schedule A).

### January 2026
- Updated its list of owners and control persons (Schedule A).

### December 2025
- Item 11 disclosure answers changed: 4 yes answers, previously 7 (now no: 11.D(2), 11.D(4), 11.E(2)).

### November 2025
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. MFS Institutional Advisors Inc. (CRD 107144): Form ADV filing data as of October 2026.