Revenue from Contracts with Customers - Disaggregated Revenue (Details) - USD ($)
$ in Millions |
3 Months Ended |
6 Months Ended |
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
| Revenue disaggregated by segment |
|
|
|
|
| Total revenues |
$ 5,013
|
$ 4,490
|
$ 9,899
|
$ 8,971
|
| Banking and deposit interest expense |
(73)
|
(115)
|
(147)
|
(242)
|
| Total net revenues |
4,940
|
4,375
|
9,752
|
8,729
|
| Management and financial advice fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
3,066
|
2,600
|
6,010
|
5,202
|
| Distribution fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
573
|
502
|
1,136
|
1,024
|
| Reportable Segments |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
3,889
|
3,318
|
7,633
|
6,651
|
| Revenue from other sources |
1,470
|
1,494
|
2,944
|
2,954
|
| Total revenues |
5,359
|
4,812
|
10,577
|
9,605
|
| Banking and deposit interest expense |
(77)
|
(123)
|
(155)
|
(258)
|
| Total net revenues |
5,282
|
4,689
|
10,422
|
9,347
|
| Reportable Segments | Management and financial advice fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
2,932
|
2,468
|
5,746
|
4,938
|
| Reportable Segments | Asset Management: Retail |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
597
|
515
|
1,160
|
1,045
|
| Reportable Segments | Asset Management: Institutional |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
149
|
131
|
294
|
265
|
| Reportable Segments | Asset Management: Model Delivery |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
27
|
23
|
54
|
45
|
| Reportable Segments | Advisory fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
1,859
|
1,517
|
3,656
|
3,032
|
| Reportable Segments | Financial planning fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
126
|
120
|
241
|
230
|
| Reportable Segments | Transaction and other fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
174
|
162
|
341
|
321
|
| Reportable Segments | Distribution fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
876
|
775
|
1,723
|
1,564
|
| Reportable Segments | Mutual funds |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
309
|
265
|
607
|
534
|
| Reportable Segments | Insurance and annuity |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
408
|
377
|
790
|
741
|
| Reportable Segments | Off-balance sheet brokerage cash |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
21
|
25
|
47
|
61
|
| Reportable Segments | Other products |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
138
|
108
|
279
|
228
|
| Reportable Segments | Other revenues |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
81
|
75
|
164
|
149
|
| Reportable Segments | Advice & Wealth Management |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
2,851
|
2,411
|
5,604
|
4,812
|
| Revenue from other sources |
468
|
511
|
964
|
1,019
|
| Total revenues |
3,319
|
2,922
|
6,568
|
5,831
|
| Banking and deposit interest expense |
(73)
|
(115)
|
(147)
|
(242)
|
| Total net revenues |
3,246
|
2,807
|
6,421
|
5,589
|
| Reportable Segments | Advice & Wealth Management | Management and financial advice fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
2,090
|
1,737
|
4,101
|
3,456
|
| Reportable Segments | Advice & Wealth Management | Asset Management: Retail |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Advice & Wealth Management | Asset Management: Institutional |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Advice & Wealth Management | Asset Management: Model Delivery |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Advice & Wealth Management | Advisory fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
1,859
|
1,517
|
3,656
|
3,032
|
| Reportable Segments | Advice & Wealth Management | Financial planning fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
126
|
120
|
241
|
230
|
| Reportable Segments | Advice & Wealth Management | Transaction and other fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
105
|
100
|
204
|
194
|
| Reportable Segments | Advice & Wealth Management | Distribution fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
684
|
603
|
1,348
|
1,216
|
| Reportable Segments | Advice & Wealth Management | Mutual funds |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
244
|
212
|
481
|
426
|
| Reportable Segments | Advice & Wealth Management | Insurance and annuity |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
281
|
258
|
541
|
501
|
| Reportable Segments | Advice & Wealth Management | Off-balance sheet brokerage cash |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
21
|
25
|
47
|
61
|
| Reportable Segments | Advice & Wealth Management | Other products |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
138
|
108
|
279
|
228
|
| Reportable Segments | Advice & Wealth Management | Other revenues |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
77
|
71
|
155
|
140
|
| Reportable Segments | Asset Management |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
936
|
813
|
1,829
|
1,648
|
| Revenue from other sources |
11
|
17
|
28
|
28
|
| Total revenues |
947
|
830
|
1,857
|
1,676
|
| Banking and deposit interest expense |
0
|
0
|
0
|
0
|
| Total net revenues |
947
|
830
|
1,857
|
1,676
|
| Reportable Segments | Asset Management | Management and financial advice fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
827
|
719
|
1,615
|
1,455
|
| Reportable Segments | Asset Management | Asset Management: Retail |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
597
|
515
|
1,160
|
1,045
|
| Reportable Segments | Asset Management | Asset Management: Institutional |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
149
|
131
|
294
|
265
|
| Reportable Segments | Asset Management | Asset Management: Model Delivery |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
27
|
23
|
54
|
45
|
| Reportable Segments | Asset Management | Advisory fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Asset Management | Financial planning fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Asset Management | Transaction and other fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
54
|
50
|
107
|
100
|
| Reportable Segments | Asset Management | Distribution fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
105
|
91
|
205
|
185
|
| Reportable Segments | Asset Management | Mutual funds |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
65
|
53
|
126
|
108
|
| Reportable Segments | Asset Management | Insurance and annuity |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
40
|
38
|
79
|
77
|
| Reportable Segments | Asset Management | Off-balance sheet brokerage cash |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Asset Management | Other products |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Asset Management | Other revenues |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
4
|
3
|
9
|
8
|
| Reportable Segments | Retirement & Protection Solutions |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
102
|
93
|
200
|
190
|
| Revenue from other sources |
873
|
843
|
1,727
|
1,672
|
| Total revenues |
975
|
936
|
1,927
|
1,862
|
| Banking and deposit interest expense |
0
|
0
|
0
|
0
|
| Total net revenues |
975
|
936
|
1,927
|
1,862
|
| Reportable Segments | Retirement & Protection Solutions | Management and financial advice fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
15
|
12
|
30
|
27
|
| Reportable Segments | Retirement & Protection Solutions | Asset Management: Retail |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Retirement & Protection Solutions | Asset Management: Institutional |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Retirement & Protection Solutions | Asset Management: Model Delivery |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Retirement & Protection Solutions | Advisory fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Retirement & Protection Solutions | Financial planning fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Retirement & Protection Solutions | Transaction and other fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
15
|
12
|
30
|
27
|
| Reportable Segments | Retirement & Protection Solutions | Distribution fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
87
|
81
|
170
|
163
|
| Reportable Segments | Retirement & Protection Solutions | Mutual funds |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Retirement & Protection Solutions | Insurance and annuity |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
87
|
81
|
170
|
163
|
| Reportable Segments | Retirement & Protection Solutions | Off-balance sheet brokerage cash |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Retirement & Protection Solutions | Other products |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Retirement & Protection Solutions | Other revenues |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
1
|
0
|
1
|
| Revenue from other sources |
118
|
123
|
225
|
235
|
| Total revenues |
118
|
124
|
225
|
236
|
| Banking and deposit interest expense |
(4)
|
(8)
|
(8)
|
(16)
|
| Total net revenues |
114
|
116
|
217
|
220
|
| Reportable Segments | Corporate & Other | Management and financial advice fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other | Asset Management: Retail |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other | Asset Management: Institutional |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other | Asset Management: Model Delivery |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other | Advisory fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other | Financial planning fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other | Transaction and other fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other | Distribution fees |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other | Mutual funds |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other | Insurance and annuity |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other | Off-balance sheet brokerage cash |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other | Other products |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
0
|
0
|
0
|
| Reportable Segments | Corporate & Other | Other revenues |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from contracts with customers |
0
|
1
|
0
|
1
|
| Non-operating |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from other sources |
46
|
44
|
88
|
93
|
| Total revenues |
46
|
44
|
88
|
93
|
| Total net revenues |
46
|
44
|
88
|
93
|
| Operating segments and non-operating |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Revenue from other sources |
1,516
|
1,538
|
3,032
|
3,047
|
| Total revenues |
5,405
|
4,856
|
10,665
|
9,698
|
| Total net revenues |
5,328
|
4,733
|
10,510
|
9,440
|
| Intersegment Eliminations |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
(383)
|
(354)
|
(749)
|
(703)
|
| Intersegment Eliminations | Advice & Wealth Management |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
(254)
|
(228)
|
(493)
|
(450)
|
| Intersegment Eliminations | Asset Management |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
(23)
|
(25)
|
(46)
|
(51)
|
| Intersegment Eliminations | Retirement & Protection Solutions |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
(110)
|
(108)
|
(218)
|
(217)
|
| Intersegment Eliminations | Corporate & Other |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
4
|
7
|
8
|
15
|
| Segment Reconciling Items |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
(5)
|
(4)
|
(9)
|
(8)
|
| Eliminations and reconciling items |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
(388)
|
(358)
|
(758)
|
(711)
|
| Operating segments excluding intersegment elimination |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
4,899
|
4,335
|
9,673
|
8,644
|
| Operating segments excluding intersegment elimination | Advice & Wealth Management |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
2,992
|
2,579
|
5,928
|
5,139
|
| Operating segments excluding intersegment elimination | Asset Management |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
924
|
805
|
1,811
|
1,625
|
| Operating segments excluding intersegment elimination | Retirement & Protection Solutions |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
865
|
828
|
1,709
|
1,645
|
| Operating segments excluding intersegment elimination | Corporate & Other |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
118
|
123
|
225
|
235
|
| Corporate and reconciling items |
|
|
|
|
| Revenue disaggregated by segment |
|
|
|
|
| Total net revenues |
$ 41
|
$ 40
|
$ 79
|
$ 85
|