REVENUES (Tables)

3 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

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 of our 2021 Form 10-K. See Note 22 of this Form 10-Q for additional information on our segment results.


	Three months ended December 31, 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	$	1,162	$	1	$	227	$	—	$	(8)	$	1,382
Brokerage revenues:
Securities commissions:
Mutual and other fund products	171		2		2		—		—		175
Insurance and annuity products	111		—		—		—		—		111
Equities, exchange-traded funds (“ETFs”) and fixed income products	104		35		—		—		—		139
Subtotal securities commissions	386		37		2		—		—		425
Principal transactions (1)	11		122		—		—		—		133
Total brokerage revenues	397		159		2		—		—		558
Account and service fees:
Mutual fund and annuity service fees	114		—		—		—		(1)		113
RJBDP fees	67		—		—		—		(50)		17
Client account and other fees	49		2		6		—		(10)		47
Total account and service fees	230		2		6		—		(61)		177
Investment banking:
Merger & acquisition and advisory	—		271		—		—		—		271
Equity underwriting	13		97		—		—		—		110
Debt underwriting	—		44		—		—		—		44
Total investment banking	13		412		—		—		—		425
Other:
Tax credit fund revenues	—		35		—		—		—		35
All other (1)	7		2		1		6		—		16
Total other	7		37		1		6		—		51
Total non-interest revenues	1,809		611		236		6		(69)		2,593
Interest income (1)	33		5		—		187		—		225
Total revenues	1,842		616		236		193		(69)		2,818
Interest expense	(3)		(2)		—		(10)		(22)		(37)
Net revenues	$	1,839	$	614	$	236	$	183	$	(91)	$	2,781

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


	Three months ended December 31, 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	$	885	$	2	$	188	$	—	$	(8)	$	1,067
Brokerage revenues:
Securities commissions:
Mutual and other fund products	148		2		2		—		(1)		151
Insurance and annuity products	98		—		—		—		—		98
Equities, ETFs and fixed income products	95		37		—		—		—		132
Subtotal securities commissions	341		39		2		—		(1)		381
Principal transactions (1)	12		134		—		1		—		147
Total brokerage revenues	353		173		2		1		(1)		528
Account and service fees:
Mutual fund and annuity service fees	94		—		—		—		—		94
RJBDP fees	64		—		—		—		(43)		21
Client account and other fees	32		2		4		—		(8)		30
Total account and service fees	190		2		4		—		(51)		145
Investment banking:
Merger & acquisition and advisory	—		149		—		—		—		149
Equity underwriting	6		60		—		—		—		66
Debt underwriting	—		46		—		—		—		46
Total investment banking	6		255		—		—		—		261
Other:
Tax credit fund revenues	—		16		—		—		—		16
All other (1)	5		3		1		9		22		40
Total other	5		19		1		9		22		56
Total non-interest revenues	1,439		451		195		10		(38)		2,057
Interest income (1)	30		3		—		168		2		203
Total revenues	1,469		454		195		178		(36)		2,260
Interest expense	(2)		(2)		—		(11)		(23)		(38)
Net revenues	$	1,467	$	452	$	195	$	167	$	(59)	$	2,222

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