Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 0	$ 0	$ 0
Adjustments to reconcile net income to net cash provided by operating activities:
Income before allocations to partners	1,285	1,092	990
Depreciation and amortization	125	115	94
Changes in assets and liabilities:
Investments segregated under federal regulations	(8,774)	(2,392)	1,406
Securities purchased under agreements to resell	(21)	(782)	253
Net payable to clients	8,174	1,805	(1,752)
Net receivable from brokers, dealers and clearing organizations	11	33	9
Receivable from mutual funds, insurance companies and other	(157)	(106)	(15)
Securities owned	(952)	(89)	15
Lease right-of-use assets	(39)	(71)	0
Other assets	7	(14)	(14)
Lease liabilities	40	93	0
Accrued compensation and employee benefits	357	282	126
Accounts payable, accrued expenses and other	(31)	47	26
Net cash provided by operating activities	25	13	1,138
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment, property and improvements	(129)	(176)	(105)
Cash used in investing activities	(129)	(176)	(105)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of partnership interests	50	432	60
Redemption of partnership interests	(214)	(216)	(199)
Distributions from partnership capital	(864)	(783)	(694)
Net cash used in financing activities	(1,028)	(567)	(833)
Net (decrease) increase in cash, cash equivalents and restricted cash	(1,132)	(730)	200
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:
Beginning of year	8,007	8,737	8,537
End of year	$ 6,875	$ 8,007	$ 8,737