Revenue from Contract with Customer (Tables)

6 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

Schedule of disaggregated revenue by segment

	Three Months Ended June 30, 2021
	Advice & Wealth Management		Asset Management		Retirement & Protection Solutions		Corporate & Other		Total Segments		Non-operating Revenue		Total
	(in millions)
Management and financial advice fees:
Asset management fees:
Retail	$	—	$	567	$	—	$	—	$	567	$	—	$	567
Institutional	—		131		—		—		131		—		131
Advisory fees	1,113		—		—		—		1,113		—		1,113
Financial planning fees	93		—		—		—		93		—		93
Transaction and other fees	93		56		18		—		167		—		167
Total management and financial advice fees	1,299		754		18		—		2,071		—		2,071
Distribution fees:
Mutual funds	212		69		—		—		281		—		281
Insurance and annuity	252		49		101		—		402		—		402
Other products	98		—		—		—		98		—		98
Total distribution fees	562		118		101		—		781		—		781
Other revenues	51		7		—		1		59		—		59
Total revenue from contracts with customers	1,912		879		119		1		2,911		—		2,911
Revenue from other sources (1)	70		—		689		119		878		34		912
Total segment gross revenues	1,982		879		808		120		3,789		34		3,823
Banking and deposit interest expense	(2)		—		—		(1)		(3)		—		(3)
Total segment net revenues	1,980		879		808		119		3,786		34		3,820
Intersegment revenues	(266)		(14)		(118)		(1)		(399)		(3)		(402)
Total net revenues	$	1,714	$	865	$	690	$	118	$	3,387	$	31	$	3,418

	Six Months Ended June 30, 2021
	Advice & Wealth Management		Asset Management		Retirement & Protection Solutions		Corporate & Other		Total Segments		Non-operating Revenue		Total
	(in millions)
Management and financial advice fees:
Asset management fees:
Retail	$	—	$	1,098	$	—	$	—	$	1,098	$	—	$	1,098
Institutional	—		254		—		—		254		—		254
Advisory fees	2,141		—		—		—		2,141		—		2,141
Financial planning fees	181		—		—		—		181		—		181
Transaction and other fees	182		108		34		—		324		—		324
Total management and financial advice fees	2,504		1,460		34		—		3,998		—		3,998
Distribution fees:
Mutual funds	419		136		—		—		555		—		555
Insurance and annuity	492		96		200		—		788		—		788
Other products	210		—		—		—		210		—		210
Total distribution fees	1,121		232		200		—		1,553		—		1,553
Other revenues	100		8		—		1		109		—		109
Total revenue from contracts with customers	3,725		1,700		234		1		5,660		—		5,660
Revenue from other sources (1)	141		7		1,361		258		1,767		133		1,900
Total segment gross revenues	3,866		1,707		1,595		259		7,427		133		7,560
Banking and deposit interest expense	(7)		—		—		(1)		(8)		—		(8)
Total segment net revenues	3,859		1,707		1,595		258		7,419		133		7,552
Intersegment revenues	(516)		(27)		(234)		(1)		(778)		(6)		(784)
Total net revenues	$	3,343	$	1,680	$	1,361	$	257	$	6,641	$	127	$	6,768

	Three Months Ended June 30, 2020
	Advice & Wealth Management		Asset Management		Retirement & Protection Solutions		Corporate & Other		Total Segments		Non-operating Revenue		Total
	(in millions)
Management and financial advice fees:
Asset management fees:
Retail	$	—	$	417	$	—	$	—	$	417	$	—	$	417
Institutional	—		101		—		—		101		—		101
Advisory fees	797		—		—		—		797		—		797
Financial planning fees	86		—		—		—		86		—		86
Transaction and other fees	86		45		16		—		147		—		147
Total management and financial advice fees	969		563		16		—		1,548		—		1,548
Distribution fees:
Mutual funds	170		55		—		—		225		—		225
Insurance and annuity	196		41		105		—		342		—		342
Other products	87		—		—		—		87		—		87
Total distribution fees	453		96		105		—		654		—		654
Other revenues	47		1		—		—		48		—		48
Total revenue from contracts with customers	1,469		660		121		—		2,250		—		2,250
Revenue from other sources (1)	86		8		634		132		860		(51)		809
Total segment gross revenues	1,555		668		755		132		3,110		(51)		3,059
Banking and deposit interest expense	(18)		—		—		(1)		(19)		—		(19)
Total segment net revenues	1,537		668		755		131		3,091		(51)		3,040
Intersegment revenues	(208)		(13)		(105)		—		(326)		(2)		(328)
Total net revenues	$	1,329	$	655	$	650	$	131	$	2,765	$	(53)	$	2,712

	Six Months Ended June 30, 2020
	Advice & Wealth Management		Asset Management		Retirement & Protection Solutions		Corporate & Other		Total Segments		Non-operating Revenue		Total
	(in millions)
Management and financial advice fees:
Asset management fees:
Retail	$	—	$	864	$	—	$	—	$	864	$	—	$	864
Institutional	—		186		—		—		186		—		186
Advisory fees	1,651		—		—		—		1,651		—		1,651
Financial planning fees	167		—		—		—		167		—		167
Transaction and other fees	175		92		31		—		298		—		298
Total management and financial advice fees	1,993		1,142		31		—		3,166		—		3,166
Distribution fees:
Mutual funds	354		115		—		—		469		—		469
Insurance and annuity	404		84		191		—		679		—		679
Other products	243		—		—		—		243		—		243
Total distribution fees	1,001		199		191		—		1,391		—		1,391
Other revenues	94		2		—		3		99		—		99
Total revenue from contracts with customers	3,088		1,343		222		3		4,656		—		4,656
Revenue from other sources (1)	187		11		1,292		279		1,769		1		1,770
Total segment gross revenues	3,275		1,354		1,514		282		6,425		1		6,426
Banking and deposit interest expense	(43)		—		—		(2)		(45)		—		(45)
Total segment net revenues	3,232		1,354		1,514		280		6,380		1		6,381
Intersegment revenues	(430)		(26)		(209)		1		(664)		(4)		(668)
Total net revenues	$	2,802	$	1,328	$	1,305	$	281	$	5,716	$	(3)	$	5,713

(1) Revenues not included in the scope of the revenue from contracts with customers standard. The amounts primarily consist of revenue associated with insurance and annuity products or financial instruments.