Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fee revenue
Asset-based	$ 5,047	$ 3,705	$ 3,399
Account and activity	678	719	690
Total fee revenue	5,725	4,424	4,089
Trade revenue	1,547	1,981	2,425
Interest and dividends	265	193	158
Other revenue	60	34	22
Total revenue	7,597	6,632	6,694
Interest expense	91	75	75
Net revenue	7,506	6,557	6,619
Operating expenses:
Compensation and benefits	5,299	4,606	4,641
Occupancy and equipment	416	396	382
Communications and data processing	324	302	286
Fund sub-adviser fees	99	57	30
Advertising	86	78	69
Professional and consulting fees	68	67	57
Postage and shipping	64	53	51
Other operating expenses	278	252	265
Total operating expenses	6,634	5,811	5,781
Income before allocations to partners	872	746	838
Allocations to partners:
Limited partners	109	100	121
Subordinated limited partners	109	90	93
General partners	654	556	624
Net income	$ 0	$ 0	$ 0
Income allocated to limited partners per weighted average $1,000 equivalent limited partnership unit outstanding	$ 121.15	$ 110.55	$ 131.42
Weighted average $1,000 equivalent limited partnership units outstanding	896,566	908,919	921,747