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Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue:      
Revenue $ 14,923 $ 12,746 $ 11,984
Interest and dividends 1,204 1,167 514
Other revenue (loss), net 130 167 (87)
Total revenue 16,257 14,080 12,411
Interest expense 253 282 142
Net revenue 16,004 13,798 12,269
Operating expenses:      
Compensation and benefits 11,105 9,390 8,568
Communications and data processing 1,000 930 687
Occupancy and equipment 636 616 582
Fund sub-adviser fees 317 272 250
Professional and consulting fees 197 177 182
Advertising 166 160 134
Other operating expenses 602 641 462
Total operating expenses 14,023 12,186 10,865
IncomeLossBeforeAllocations 1,981 1,612 1,404
Allocations to partners:      
Limited partners 305 263 165
Profits Interests 43 0 0
Subordinated limited partners 217 181 165
General partners 1,416 1,168 1,074
NET INCOME $ 0 $ 0 $ 0
Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding $ 163.48 $ 145.45 $ 135.65
Weighted average $1,000 equivalent limited partnership units outstanding 1,741,208 1,764,141 1,219,815
Total Fee Revenue [Member]      
Revenue:      
Revenue $ 13,163 $ 11,264 $ 10,500
Asset-based Fee Revenue [Member]      
Revenue:      
Revenue 12,408 10,518 9,808
Account and Activity Fee Revenue [Member]      
Revenue:      
Revenue 755 746 692
Trade Revenue [Member]      
Revenue:      
Revenue $ 1,760 $ 1,482 $ 1,484