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Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue:      
Revenue $ 12,746 $ 11,984 $ 12,143
Interest and dividends 1,167 514 167
Other revenue (loss), net 167 (87) 63
Total revenue 14,080 12,411 12,373
Interest expense 282 142 94
Net revenue 13,798 12,269 12,279
Operating expenses:      
Compensation and benefits 9,390 8,568 8,720
Communications and data processing 930 687 485
Occupancy and equipment 616 582 547
Fund sub-adviser fees 272 250 245
Professional and consulting fees 177 182 151
Advertising 160 134 113
Other operating expenses 641 462 413
Total operating expenses 12,186 10,865 10,674
Income before allocations to partners 1,612 1,404 1,605
Allocations to partners:      
Limited partners 263 165 208
Subordinated limited partners 181 165 189
General partners 1,168 1,074 1,208
Net Income $ 0 $ 0 $ 0
Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding $ 145.45 $ 135.65 $ 169.10
Weighted average $1,000 equivalent limited partnership units outstanding 1,764,141 1,219,815 1,230,986
Total Fee Revenue [Member]      
Revenue:      
Revenue $ 11,264 $ 10,500 $ 10,424
Asset-based Fee Revenue [Member]      
Revenue:      
Revenue 10,518 9,808 9,737
Account and Activity Fee Revenue [Member]      
Revenue:      
Revenue 746 692 687
Trade Revenue [Member]      
Revenue:      
Revenue $ 1,482 $ 1,484 $ 1,719