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Related Parties
12 Months Ended
Dec. 31, 2017
Related Party Transactions [Abstract]  
Related Parties

NOTE 14 – RELATED PARTIES

As of December 31, 2017, Edward Jones leased approximately 10% of its branch office space from its financial advisors (see Note 11).  Rent expense related to these leases approximated $30, $28 and $27 for the years ended December 31, 2017, 2016 and 2015, respectively.  These leases are executed and maintained in a similar manner as those entered into with third parties.

Olive Street is the investment adviser to the sub-advised mutual funds of the BB Trust and has primary responsibility for setting overall investment strategies and selecting and managing sub-advisers, subject to the review and approval of the BB Trust's Board of Trustees.  Olive Street has contractually agreed to waive any investment adviser fees above those amounts paid to the sub-advisers.  The investment adviser fee revenue earned by Olive Street, included within asset-based fee revenue on the Consolidated Statements of Income, is offset by the expense paid to the sub-advisers, included within fund sub-adviser fees on the Consolidated Statements of Income.  The total amounts recognized for the years ended December 31, 2017, 2016 and 2015 were $91, $57 and $30, respectively.

Passport Research, Ltd. ("Passport Research") is the investment adviser to the Edward Jones Money Market Fund.  In 2017, the Partnership acquired the remaining 50.5% general partner interest of Passport Research from Federated Investment Management Company, resulting in 100% ownership of Passport Research.  The transaction did not have a material impact on the Consolidated Financial Statements.  Passport Research has contractually agreed to waive fees and/or reimburse fund operating expenses to the extent necessary to limit the annual operating expense of the fund.  Further, Edward Jones earns certain fees from the fund, some of which may be voluntarily waived.  In 2017, total fees waived were $22.

In the normal course of business, partners and associates of the Partnership and its affiliates use the same advisory, brokerage and trust services of the Partnership 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).