Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

Schedule of disaggregated revenue by segment

	Three Months Ended September 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	$	—	$	587	$	—	$	—	$	587	$	—	$	587
Institutional	—		143		—		—		143		—		143
Advisory fees	1,189		—		—		—		1,189		—		1,189
Financial planning fees	91		—		—		—		91		—		91
Transaction and other fees	94		57		18		—		169		—		169
Total management and financial advice fees	1,374		787		18		—		2,179		—		2,179
Distribution fees:
Mutual funds	219		70		—		—		289		—		289
Insurance and annuity	246		50		104		—		400		—		400
Other products	96		—		—		—		96		—		96
Total distribution fees	561		120		104		—		785		—		785
Other revenues	46		1		—		1		48		—		48
Total revenue from contracts with customers	1,981		908		122		1		3,012		—		3,012
Revenue from other sources (1)	70		7		712		112		901		(605)		296
Total segment gross revenues	2,051		915		834		113		3,913		(605)		3,308
Banking and deposit interest expense	(3)		—		—		—		(3)		—		(3)
Total segment net revenues	2,048		915		834		113		3,910		(605)		3,305
Intersegment revenues	(261)		(12)		(122)		—		(395)		(7)		(402)
Total net revenues	$	1,787	$	903	$	712	$	113	$	3,515	$	(612)	$	2,903

	Nine Months Ended September 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	$	—	$	1,685	$	—	$	—	$	1,685	$	—	$	1,685
Institutional	—		397		—		—		397		—		397
Advisory fees	3,330		—		—		—		3,330		—		3,330
Financial planning fees	272		—		—		—		272		—		272
Transaction and other fees	276		165		52		—		493		—		493
Total management and financial advice fees	3,878		2,247		52		—		6,177		—		6,177
Distribution fees:
Mutual funds	638		206		—		—		844		—		844
Insurance and annuity	738		146		304		—		1,188		—		1,188
Other products	306		—		—		—		306		—		306
Total distribution fees	1,682		352		304		—		2,338		—		2,338
Other revenues	146		9		—		2		157		—		157
Total revenue from contracts with customers	5,706		2,608		356		2		8,672		—		8,672
Revenue from other sources (1)	211		14		2,073		370		2,668		(472)		2,196
Total segment gross revenues	5,917		2,622		2,429		372		11,340		(472)		10,868
Banking and deposit interest expense	(10)		—		—		(1)		(11)		—		(11)
Total segment net revenues	5,907		2,622		2,429		371		11,329		(472)		10,857
Intersegment revenues	(777)		(39)		(356)		(1)		(1,173)		(13)		(1,186)
Total net revenues	$	5,130	$	2,583	$	2,073	$	370	$	10,156	$	(485)	$	9,671

	Three Months Ended September 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	$	—	$	466	$	—	$	—	$	466	$	—	$	466
Institutional	—		122		—		—		122		—		122
Advisory fees	907		—		—		—		907		—		907
Financial planning fees	81		—		—		—		81		—		81
Transaction and other fees	89		47		14		—		150		—		150
Total management and financial advice fees	1,077		635		14		—		1,726		—		1,726
Distribution fees:
Mutual funds	186		59		—		—		245		—		245
Insurance and annuity	202		45		75		—		322		—		322
Other products	91		—		—		—		91		—		91
Total distribution fees	479		104		75		—		658		—		658
Other revenues	44		—		5		—		49		—		49
Total revenue from contracts with customers	1,600		739		94		—		2,433		—		2,433
Revenue from other sources (1)	77		—		687		132		896		27		923
Total segment gross revenues	1,677		739		781		132		3,329		27		3,356
Banking and deposit interest expense	(10)		—		—		—		(10)		—		(10)
Total segment net revenues	1,667		739		781		132		3,319		27		3,346
Intersegment revenues	(219)		(13)		(110)		—		(342)		(1)		(343)
Total net revenues	$	1,448	$	726	$	671	$	132	$	2,977	$	26	$	3,003

	Nine Months Ended September 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	$	—	$	1,330	$	—	$	—	$	1,330	$	—	$	1,330
Institutional	—		308		—		—		308		—		308
Advisory fees	2,558		—		—		—		2,558		—		2,558
Financial planning fees	248		—		—		—		248		—		248
Transaction and other fees	264		139		45		—		448		—		448
Total management and financial advice fees	3,070		1,777		45		—		4,892		—		4,892
Distribution fees:
Mutual funds	540		174		—		—		714		—		714
Insurance and annuity	606		129		266		—		1,001		—		1,001
Other products	334		—		—		—		334		—		334
Total distribution fees	1,480		303		266		—		2,049		—		2,049
Other revenues	138		2		5		3		148		—		148
Total revenue from contracts with customers	4,688		2,082		316		3		7,089		—		7,089
Revenue from other sources (1)	264		11		1,979		411		2,665		28		2,693
Total segment gross revenues	4,952		2,093		2,295		414		9,754		28		9,782
Banking and deposit interest expense	(53)		—		—		(2)		(55)		—		(55)
Total segment net revenues	4,899		2,093		2,295		412		9,699		28		9,727
Intersegment revenues	(649)		(39)		(319)		1		(1,006)		(5)		(1,011)
Total net revenues	$	4,250	$	2,054	$	1,976	$	413	$	8,693	$	23	$	8,716

(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.