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REVENUES
 6 Months Ended
Mar. 31, 2024
Revenues [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 of our 2023 Form 10-K. See Note 26 of our 2023 Form 10-K and Note 23 of this Form 10-Q for additional information on our segments.
Three months ended March 31, 2024
$ in millionsPrivate Client GroupCapital MarketsAsset ManagementBankOther and intersegment eliminationsTotal
Revenues:
Asset management and related administrative fees$1,283 $1 $242 $— $(10)$1,516 
Brokerage revenues:
Securities commissions:
Mutual and other fund products141 1 1 — — 143 
Insurance and annuity products127 — — — — 127 
Equities, exchange-traded funds (“ETFs”) and fixed income products
113 35 — — (4)144 
Subtotal securities commissions381 36 1 — (4)414 
Principal transactions (1)
26 86 — 2 — 114 
Total brokerage revenues407 122 1 2 (4)528 
Account and service fees:
Mutual fund and annuity service fees115 — 4 — — 119 
RJBDP fees366 2 — — (208)160 
Client account and other fees64 1 1 — (10)56 
Total account and service fees545 3 5 — (218)335 
Investment banking:
Merger & acquisition and advisory— 107 — — — 107 
Equity underwriting8 23 — — — 31 
Debt underwriting— 41 — — — 41 
Total investment banking8 171 — — — 179 
Other:
Affordable housing investments business revenues— 22 — — — 22 
All other (1)
6 — 1 9 (7)9 
Total other6 22 1 9 (7)31 
Total non-interest revenues2,249 319 249 11 (239)2,589 
Interest income (1)
122 26 3 868 30 1,049 
Total revenues2,371 345 252 879 (209)3,638 
Interest expense(30)(24)— (455)(11)(520)
Net revenues$2,341 $321 $252 $424 $(220)$3,118 

(1)These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.
Three months ended March 31, 2023
$ in millionsPrivate Client GroupCapital MarketsAsset ManagementBankOther and intersegment eliminationsTotal
Revenues:
Asset management and related administrative fees$1,102 $— $206 $— $(6)$1,302 
Brokerage revenues:
Securities commissions:
Mutual and other fund products135 2 1 — (1)137 
Insurance and annuity products113 — — — — 113 
Equities, ETFs and fixed income products88 32 — — (1)119 
Subtotal securities commissions336 34 1 — (2)369 
Principal transactions (1)
28 96 — 4 (1)127 
Total brokerage revenues364 130 1 4 (3)496 
Account and service fees:
Mutual fund and annuity service fees105 — 1 — (1)105 
RJBDP fees411 1 — — (312)100 
Client account and other fees56 1 5 — (9)53 
Total account and service fees572 2 6 — (322)258 
Investment banking:
Merger & acquisition and advisory— 87 — — — 87 
Equity underwriting9 29 — — — 38 
Debt underwriting— 29 — — — 29 
Total investment banking9 145 — — — 154 
Other:
Affordable housing investments business revenues— 23 — — — 23 
All other (1)
9 1 — 6 (7)9 
Total other9 24 — 6 (7)32 
Total non-interest revenues2,056 301 213 10 (338)2,242 
Interest income (1)
117 21 3 749 25 915 
Total revenues2,173 322 216 759 (313)3,157 
Interest expense(29)(20)— (219)(16)(284)
Net revenues$2,144 $302 $216 $540 $(329)$2,873 

(1)    These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.
Six months ended March 31, 2024
$ in millionsPrivate Client GroupCapital MarketsAsset ManagementBankOther and intersegment eliminationsTotal
Revenues:
Asset management and related administrative fees$2,474 $1 $466 $— $(18)$2,923 
Brokerage revenues:
Securities commissions:
Mutual and other fund products277 3 3 — (3)280 
Insurance and annuity products252 — — — — 252 
Equities, ETFs and fixed income products
202 68 — — (5)265 
Subtotal securities commissions731 71 3 — (8)797 
Principal transactions (1)
58 191 — 4 — 253 
Total brokerage revenues789 262 3 4 (8)1,050 
Account and service fees:
Mutual fund and annuity service fees221 — 5 — (1)225 
RJBDP fees741 3 — — (432)312 
Client account and other fees129 3 6 — (21)117 
Total account and service fees1,091 6 11 — (454)654 
Investment banking:
Merger & acquisition and advisory— 225 — — — 225 
Equity underwriting19 49 — — — 68 
Debt underwriting— 67 — — — 67 
Total investment banking19 341 — — — 360 
Other:
Affordable housing investments business revenues— 45 — — — 45 
All other (1)
10 1 1 22 (10)24 
Total other10 46 1 22 (10)69 
Total non-interest revenues4,383 656 481 26 (490)5,056 
Interest income (1)
240 49 6 1,740 67 2,102 
Total revenues4,623 705 487 1,766 (423)7,158 
Interest expense(56)(46)— (901)(24)(1,027)
Net revenues$4,567 $659 $487 $865 $(447)$6,131 

(1)These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.
Six months ended March 31, 2023
$ in millionsPrivate Client GroupCapital MarketsAsset ManagementBankOther and intersegment eliminationsTotal
Revenues:
Asset management and related administrative fees$2,155 $1 $403 $— $(15)$2,544 
Brokerage revenues:
Securities commissions:
Mutual and other fund products263 3 2 — (1)267 
Insurance and annuity products217 — — — — 217 
Equities, ETFs and fixed income products173 65 — — (1)237 
Subtotal securities commissions653 68 2 — (2)721 
Principal transactions (1)
56 196 — 8 (1)259 
Total brokerage revenues709 264 2 8 (3)980 
Account and service fees:
Mutual fund and annuity service fees203 — 1 — (1)203 
RJBDP fees816 2 — — (581)237 
Client account and other fees116 3 10 — (22)107 
Total account and service fees1,135 5 11 — (604)547 
Investment banking:
Merger & acquisition and advisory— 189 — — — 189 
Equity underwriting18 44 — — (1)61 
Debt underwriting— 45 — — — 45 
Total investment banking18 278 — — (1)295 
Other:
Affordable housing investments business revenues— 47 — — — 47 
All other (1)
15 1 2 19 (8)29 
Total other15 48 2 19 (8)76 
Total non-interest revenues4,032 596 418 27 (631)4,442 
Interest income (1)
226 44 5 1,425 42 1,742 
Total revenues4,258 640 423 1,452 (589)6,184 
Interest expense(51)(43)— (404)(27)(525)
Net revenues$4,207 $597 $423 $1,048 $(616)$5,659 

(1)These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.
At March 31, 2024 and September 30, 2023, net receivables related to contracts with customers were $576 million and $519 million, respectively.