REVENUES

12 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

REVENUES

REVENUES

The following tables present our sources of revenues by segment. For further information about our significant accounting policies related to revenue recognition, see Note 2. See Note 26 for additional information on our segment results.

	Year ended September 30, 2021
$ in millions	Private Client Group		Capital Markets		Asset Management		Raymond James Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	4,056	$	4	$	837	$	—	$	(29)	$	4,868
Brokerage revenues:
Securities commissions:
Mutual and other fund products	670		6		10		—		(3)		683
Insurance and annuity products	438		—		—		—		—		438
Equities, ETFs and fixed income products	388		143		—		—		(1)		530
Subtotal securities commissions	1,496		149		10		—		(4)		1,651
Principal transactions (1)	50		511		—		—		—		561
Total brokerage revenues	1,546		660		10		—		(4)		2,212
Account and service fees:
Mutual fund and annuity service fees	408		—		—		—		(2)		406
RJBDP fees	259		1		—		—		(184)		76
Client account and other fees	157		7		18		—		(29)		153
Total account and service fees	824		8		18		—		(215)		635
Investment banking:
Merger & acquisition and advisory	—		639		—		—		—		639
Equity underwriting	47		285		—		—		—		332
Debt underwriting	—		172		—		—		—		172
Total investment banking	47		1,096		—		—		—		1,143
Other:
Tax credit fund revenues	—		105		—		—		—		105
All other (1)	25		6		2		30		61		124
Total other	25		111		2		30		61		229
Total non-interest revenues	6,498		1,879		867		30		(187)		9,087
Interest income (1)	123		16		—		684		—		823
Total revenues	6,621		1,895		867		714		(187)		9,910
Interest expense	(10)		(10)		—		(42)		(88)		(150)
Net revenues	$	6,611	$	1,885	$	867	$	672	$	(275)	$	9,760

(1)    These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.

	Year ended September 30, 2020
$ in millions	Private Client Group		Capital Markets		Asset Management		Raymond James Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	3,162	$	7	$	688	$	—	$	(23)	$	3,834
Brokerage revenues:
Securities commissions:
Mutual and other fund products	567		7		8		—		(3)		579
Insurance and annuity products	397		—		—		—		—		397
Equities, ETFs and fixed income products	355		137		—		—		—		492
Subtotal securities commissions	1,319		144		8		—		(3)		1,468
Principal transactions (1)	64		427		—		1		(4)		488
Total brokerage revenues	1,383		571		8		1		(7)		1,956
Account and service fees:
Mutual fund and annuity service fees	348		—		1		—		(1)		348
RJBDP fees	330		1		—		—		(181)		150
Client account and other fees	129		5		15		—		(23)		126
Total account and service fees	807		6		16		—		(205)		624
Investment banking:
Merger & acquisition and advisory	—		290		—		—		—		290
Equity underwriting	41		185		—		—		1		227
Debt underwriting	—		133		—		—		—		133
Total investment banking	41		608		—		—		1		650
Other:
Tax credit fund revenues	—		83		—		—		—		83
All other (1)	27		7		2		26		(41)		21
Total other	27		90		2		26		(41)		104
Total non-interest revenues	5,420		1,282		714		27		(275)		7,168
Interest income (1)	155		25		1		800		19		1,000
Total revenues	5,575		1,307		715		827		(256)		8,168
Interest expense	(23)		(16)		—		(62)		(77)		(178)
Net revenues	$	5,552	$	1,291	$	715	$	765	$	(333)	$	7,990

(1)    These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.

	Year ended September 30, 2019
$ in millions	Private Client Group		Capital Markets		Asset Management		Raymond James Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	2,820	$	6	$	645	$	—	$	(20)	$	3,451
Brokerage revenues:
Securities commissions:
Mutual and other fund products	599		6		10		—		(4)		611
Insurance and annuity products	412		—		—		—		—		412
Equities, ETFs and fixed income products	304		123		—		—		—		427
Subtotal securities commissions	1,315		129		10		—		(4)		1,450
Principal transactions (1)	74		285		—		—		(2)		357
Total brokerage revenues	1,389		414		10		—		(6)		1,807
Account and service fees:
Mutual fund and annuity service fees	334		—		2		—		(10)		326
RJBDP fees	453		—		3		—		(176)		280
Client account and other fees	122		5		26		—		(21)		132
Total account and service fees	909		5		31		—		(207)		738
Investment banking:
Merger & acquisition and advisory	—		379		—		—		—		379
Equity underwriting	32		100		—		—		—		132
Debt underwriting	—		85		—		—		—		85
Total investment banking	32		564		—		—		—		596
Other:
Tax credit fund revenues	—		86		—		—		—		86
All other (1)	26		4		2		26		6		64
Total other	26		90		2		26		6		150
Total non-interest revenues	5,176		1,079		688		26		(227)		6,742
Interest income (1)	225		38		3		975		40		1,281
Total revenues	5,401		1,117		691		1,001		(187)		8,023
Interest expense	(42)		(34)		—		(155)		(52)		(283)
Net revenues	$	5,359	$	1,083	$	691	$	846	$	(239)	$	7,740

(1)    These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.

At September 30, 2021 and September 30, 2020, net receivables related to contracts with customers were $416 million and $342 million, respectively.