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Related Parties
12 Months Ended
Dec. 31, 2015
Related Party Transactions [Abstract]  
Related Parties

NOTE 14 – RELATED PARTIES

Edward Jones owns a 49.5% limited partnership interest in Passport Research, the investment adviser for two money market funds made available to Edward Jones clients.  Approximately 0.1%, 0.03% and 0.1% of the Partnership's total revenues were derived from this limited partnership interest in Passport Research during 2015, 2014 and 2013, respectively.  The Partnership has entered into a non-binding letter of intent to acquire the remaining 50.5% of Passport Research from Federated Investment Management Company ("Federated"), the general partner of Passport Research.  The transaction is not expected to have a material impact on the Consolidated Financial Statements.  Federated approved the transfer on February 18, 2016 and the transfer is expected to be completed in the fourth quarter of 2016, subject to customary regulatory and fund shareholder approvals.

As of December 31, 2015, Edward Jones leases approximately 10% of its branch office space from its financial advisors (see Note 11).  Rent expense related to these leases approximated $27, $25 and $23 for the years ended December 31, 2015, 2014 and 2013, respectively.  These leases are executed and maintained in a similar manner as those entered into with third parties.

The Bridge Builder Trust (the "Trust") was formed to offer additional fund options for Advisory Solutions clients.  Olive Street Investment Advisers, L.L.C. ("OLV"), a wholly-owned subsidiary of the Partnership, is the investment adviser to the sub-advised mutual funds in the Trust.  OLV has contractually agreed to waive any investment adviser fees above those amounts paid to the sub-advisers.  The investment adviser fee revenue earned by OLV, included within advisory programs fees on the Consolidated Statements of Income, is offset by the expense paid to the sub-advisers, included within professional and consulting fees.  The total amounts recognized for the years ended December 31, 2015, 2014 and 2013 were $30, $8 and $1, respectively.

In the normal course of business, partners and associates of the Partnership and its affiliates use the brokerage services and trust services of the Partnership for the same services as unrelated third parties, with certain discounts on commissions and fees for certain services.  The Partnership has included balances arising from such transactions in the Consolidated Financial Statements on the same basis as other clients.

The Partnership recognizes interest income for the interest earned from partners who elect to finance a portion or all of their partnership capital contributions through loans made available from the Partnership (see Note 7).