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Related Party Transactions
 12 Months Ended
Dec. 31, 2024
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 and our subsidiaries. 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
202420232022
(in thousands)
Investment advisory and services fees$1,597,253 $1,377,916 $1,452,885 
Distribution revenues711,156 575,647 590,580 
Shareholder servicing fees80,947 76,440 79,167 
Other revenues7,400 9,398 8,366 
$2,396,756 $2,039,401 $2,130,998 
EQH and its Subsidiaries
We provide investment management and certain administration services to EQH and its subsidiaries. In addition, EQH and its 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 and we pay fees for technology and other services provided by EQH and its 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 and its subsidiaries, as of and for the years ended December 31, are as follows:
Years Ended December 31
202420232022
(in thousands)
Revenues:
Investment advisory and services fees$180,511 $165,748 $148,377 
Other revenues566 617 688 
$181,077 $166,365 $149,065 
Expenses:   
Commissions and distribution payments to financial intermediaries$3,645 $3,492 $3,897 
General and administrative2,362 2,909 2,882 
EQH Facility Interest25,976 37,304 11,372 
Other3,469 2,949 2,697 
$35,452 $46,654 $20,848 
Statement of Financial Condition:  
Institutional investment advisory and services fees receivable$35,515 $9,055 
Prepaid expenses543 709 
Other due (to) from EQH and its subsidiaries(2,800)4,719 
EQH Facility(710,000)(900,000)
$(676,742)$(885,517)
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, 2024 and 2023 was $8.2 million and $8.7 million, respectively.