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Related Party Transactions
 12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Mutual Funds
We provide investment management, distribution, shareholder, administrative and brokerage services to individual investors by means of retail mutual funds sponsored by our company, our subsidiaries and our affiliated joint venture companies. We provide substantially all of these services under contracts that specify the services to be provided and the fees to be charged. The contracts are subject to annual review and approval by each mutual fund’s board of directors or trustees and, in certain circumstances, by the mutual fund’s shareholders. Revenues for services provided or related to the mutual funds are as follows:
 
Years Ended December 31,
 
2019
 
2018
 
2017
 
(in thousands)
Investment advisory and services fees
$
1,275,677

 
$
1,207,086

 
$
1,148,467

Distribution revenues
441,437

 
403,965

 
397,674

Shareholder servicing fees
75,122

 
74,019

 
73,310

Other revenues
7,303

 
7,262

 
6,942

Bernstein Research Services
2

 
33

 
13


EQH, AXA and their respective Subsidiaries
We provide investment management and certain administration services to EQH, AXA and their respective subsidiaries. In addition, EQH, AXA and their respective subsidiaries distribute company-sponsored mutual funds, for which they receive commissions and distribution payments. Also, we are covered by various insurance policies maintained by EQH, AXA and their respective subsidiaries and we pay fees for technology and other services provided by EQH, AXA and their respective subsidiaries. Additionally, see Note 12, Debt, for disclosures related to our credit facility with EQH.

Aggregate amounts included in the consolidated financial statements for transactions with EQH, AXA and their respective subsidiaries, as of and for the years ended December 31, are as follows:
 
EQH
 
AXA
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
(in thousands)
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Investment advisory and services fees
$
109,316

 
$
104,810

 
$
98,450

 
$
65,086

 
$
64,347

 
$
58,980

Bernstein Research Services
—

 
—

 
—

 
45

 
134

 
403

Distribution revenues
—

 
—

 
—

 
12,968

 
13,897

 
13,387

Other revenues
1,013

 
1,104

 
864

 
482

 
625

 
266

 
$
110,329

 
$
105,914

 
$
99,314

 
$
78,581

 
$
79,003

 
$
73,036

Expenses:
 

 
 

 
 

 
 
 
 
 
 
Commissions and distribution payments to financial intermediaries
$
3,956

 
$
3,964

 
$
3,828

 
$
16,693

 
$
17,603

 
$
15,374

General and administrative
2,466

 
2,615

 
2,610

 
11,501

 
12,391

 
9,818

Other
2,759

 
1,485

 
1,696

 
—

 
—

 
—

 
$
9,181

 
$
8,064

 
$
8,134

 
$
28,194

 
$
29,994

 
$
25,192

Balance Sheet:
 

 
 

 
 
 
 
 
 
 
 
Institutional investment advisory and services fees receivable
$
8,716

 
$
9,751

 
 
 
$
10,842

 
$
7,861

 
 
Prepaid expenses
238

 
364

 
 
 
—

 
—

 
 
Other due to EQH, AXA and their respective subsidiaries
(2,111
)
 
(1,842
)
 
 
 
(5,234
)
 
(5,417
)
 
 
EQH Facility
(560,000
)
 
—

 
 
 
—

 
—

 
 
 
$
(553,157
)
 
$
8,273

 
 
 
$
5,608

 
$
2,444

 
 

Other Related Parties
The consolidated statements of financial condition include a net receivable from AB Holding as a result of cash transactions for fees and expense reimbursements. The net receivable balance included in the consolidated statements of financial condition as of December 31, 2019 and 2018 was $10.1 million and $11.4 million, respectively.