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REVENUES (Tables)
 6 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue 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 23 of this Form 10-Q for additional information on our segment results.
Three months ended March 31, 2022
$ in millionsPrivate Client GroupCapital MarketsAsset ManagementRaymond James BankOther and intersegment eliminationsTotal
Revenues:
Asset management and related administrative fees$1,245 $1 $226 $— $(8)$1,464 
Brokerage revenues:
Securities commissions:
Mutual and other fund products166 2 2 — (1)169 
Insurance and annuity products110 — — — — 110 
Equities, exchange-traded funds (“ETFs”) and fixed income products105 38 — — — 143 
Subtotal securities commissions381 40 2 — (1)422 
Principal transactions (1)
16 126 — — — 142 
Total brokerage revenues397 166 2 — (1)564 
Account and service fees:
Mutual fund and annuity service fees109 — — — — 109 
RJBDP fees69 — — — (49)20 
Client account and other fees53 2 6 — (11)50 
Total account and service fees231 2 6 — (60)179 
Investment banking:
Merger & acquisition and advisory— 139 — — — 139 
Equity underwriting9 52 — — — 61 
Debt underwriting— 35 — — — 35 
Total investment banking9 226 — — — 235 
Other:
Tax credit fund revenues— 15 — — — 15 
All other (1)
6 1 — 8 (3)12 
Total other6 16 — 8 (3)27 
Total non-interest revenues1,888 411 234 8 (72)2,469 
Interest income (1)
37 5 — 199 1 242 
Total revenues1,925 416 234 207 (71)2,711 
Interest expense(3)(3)— (10)(22)(38)
Net revenues$1,922 $413 $234 $197 $(93)$2,673 

(1)    These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.
Three months ended March 31, 2021
$ in millionsPrivate Client GroupCapital MarketsAsset ManagementRaymond James BankOther and intersegment eliminationsTotal
Revenues:
Asset management and related administrative fees$979 $— $201 $— $(7)$1,173 
Brokerage revenues:
Securities commissions:
Mutual and other fund products183 1 3 — (1)186 
Insurance and annuity products109 — — — — 109 
Equities, ETFs and fixed income products108 40 — — — 148 
Subtotal securities commissions400 41 3 — (1)443 
Principal transactions (1)
13 135 — — — 148 
Total brokerage revenues413 176 3 — (1)591 
Account and service fees:
Mutual fund and annuity service fees99 — — — — 99 
RJBDP fees63 1 — — (45)19 
Client account and other fees42 2 5 — (8)41 
Total account and service fees204 3 5 — (53)159 
Investment banking:
Merger & acquisition and advisory— 122 — — — 122 
Equity underwriting16 67 — — — 83 
Debt underwriting— 37 — — — 37 
Total investment banking16 226 — — — 242 
Other:
Tax credit fund revenues— 24 — — — 24 
All other (1)
8 1 — 5 6 20 
Total other8 25 — 5 6 44 
Total non-interest revenues1,620 430 209 5 (55)2,209 
Interest income (1)
30 5 — 165 — 200 
Total revenues1,650 435 209 170 (55)2,409 
Interest expense(3)(2)— (10)(22)(37)
Net revenues$1,647 $433 $209 $160 $(77)$2,372 

(1)    These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.
Six months ended March 31, 2022
$ in millionsPrivate Client GroupCapital MarketsAsset ManagementRaymond James BankOther and intersegment eliminationsTotal
Revenues:
Asset management and related administrative fees$2,407 $2 $453 $— $(16)$2,846 
Brokerage revenues:
Securities commissions:
Mutual and other fund products337 4 4 — (1)344 
Insurance and annuity products221 — — — — 221 
Equities, ETFs and fixed income products209 73 — — — 282 
Subtotal securities commissions767 77 4 — (1)847 
Principal transactions (1)
27 248 — — — 275 
Total brokerage revenues794 325 4 — (1)1,122 
Account and service fees:
Mutual fund and annuity service fees223 — — — (1)222 
RJBDP fees136 — — — (99)37 
Client account and other fees102 4 12 — (21)97 
Total account and service fees461 4 12 — (121)356 
Investment banking:
Merger & acquisition and advisory— 410 — — — 410 
Equity underwriting22 149 — — — 171 
Debt underwriting— 79 — — — 79 
Total investment banking22 638 — — — 660 
Other:
Tax credit fund revenues— 50 — — — 50 
All other (1)
13 3 1 14 (3)28 
Total other13 53 1 14 (3)78 
Total non-interest revenues3,697 1,022 470 14 (141)5,062 
Interest income (1)
70 10 — 386 1 467 
Total revenues3,767 1,032 470 400 (140)5,529 
Interest expense(6)(5)— (20)(44)(75)
Net revenues$3,761 $1,027 $470 $380 $(184)$5,454 

(1)    These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.
Six months ended March 31, 2021
$ in millionsPrivate Client GroupCapital MarketsAsset ManagementRaymond James BankOther and intersegment eliminationsTotal
Revenues:
Asset management and related administrative fees$1,864 $2 $389 $— $(15)$2,240 
Brokerage revenues:
Securities commissions:
Mutual and other fund products331 3 5 — (2)337 
Insurance and annuity products207 — — — — 207 
Equities, ETFs and fixed income products203 77 — — — 280 
Subtotal securities commissions741 80 5 — (2)824 
Principal transactions (1)
25 269 — 1 — 295 
Total brokerage revenues766 349 5 1 (2)1,119 
Account and service fees:
Mutual fund and annuity service fees193 — — — — 193 
RJBDP fees127 1 — — (88)40 
Client account and other fees74 4 9 — (16)71 
Total account and service fees394 5 9 — (104)304 
Investment banking:
Merger & acquisition and advisory— 271 — — — 271 
Equity underwriting22 127 — — — 149 
Debt underwriting— 83 — — — 83 
Total investment banking22 481 — — — 503 
Other:
Tax credit fund revenues— 40 — — — 40 
All other (1)
13 4 1 14 28 60 
Total other13 44 1 14 28 100 
Total non-interest revenues3,059 881 404 15 (93)4,266 
Interest income (1)
60 8 — 333 2 403 
Total revenues3,119 889 404 348 (91)4,669 
Interest expense(5)(4)— (21)(45)(75)
Net revenues$3,114 $885 $404 $327 $(136)$4,594 

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