Consolidated Statements of Financial Condition - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
ASSETS:
Cash and cash equivalents	$ 1,125	$ 1,014
Cash and investments segregated under federal regulations	17,918	10,387
Securities purchased under agreements to resell	1,714	1,693
Receivable from:
Clients	3,504	3,328
Mutual funds, insurance companies and other	818	661
Brokers, dealers and clearing organizations	223	204
Securities owned, at fair value:
Investment securities	1,302	332
Inventory securities	32	50
Lease right-of-use assets	915	876
Equipment, property and improvements, at cost, net of accumulated depreciation and amortization	620	616
Other assets	149	156
TOTAL ASSETS	28,320	19,317
Payable to:
Clients	21,241	12,891
Brokers, dealers and clearing organizations	96	66
Accrued compensation and employee benefits	2,104	1,747
Lease liabilities	938	898
Accounts payable, accrued expenses and other	352	351
Total liabilities before partnership capital	24,731	15,953
Commitments and contingencies (Notes 14 and 15)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	3,075	2,957
Reserve for anticipated withdrawals	514	407
Total partnership capital subject to mandatory redemption	3,589	3,364
TOTAL LIABILITIES	28,320	19,317
Limited Partnership Capital [Member]
Payable to:
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	1,237	1,249
Subordinated Limited Partnership Capital [Member]
Payable to:
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	538	523
General Partnership Capital [Member]
Payable to:
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans	$ 1,300	$ 1,185