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REVENUES (Tables) | 9 Months Ended
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Jun. 30, 2026
Revenues [Abstract] |
Disaggregation of Revenue | The following tables present our sources of revenues by segment. For further information about our significant accounting policies related to revenue recognition see Note 2 of our 2025 Form 10-K. See Note 25 of our 2025 Form 10-K and Note 24 of this Form 10-Q for additional information on our segments.
|  | Three months ended June 30, 2026
$ in millions |  | Private Client Group |  | Capital Markets |  | Asset Management |  | Bank |  | Other and intersegment eliminations |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Asset management and related administrative fees |  | $ | 1,734 |  |  | $ | — |  |  | $ | 352 |  |  | $ | — |  |  | $ | (11) |  |  | $ | 2,075 |
Brokerage revenues: |  |  |  |  |  |  |  |  |  |  |  |
Securities commissions: |  |  |  |  |  |  |  |  |  |  |  |
Mutual and other fund products |  | 170 |  |  | 2 |  |  | 1 |  |  | — |  |  | — |  |  | 173 |
Insurance and annuity products |  | 142 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 142 |
Equities, exchange-traded funds (“ETFs”) and fixed income products |  | 145 |  |  | 48 |  |  | — |  |  | — |  |  | (5) |  |  | 188 |
Subtotal securities commissions |  | 457 |  |  | 50 |  |  | 1 |  |  | — |  |  | (5) |  |  | 503 |
Principal transactions (1) |  | 28 |  |  | 99 |  |  | — |  |  | — |  |  | (1) |  |  | 126 |
Total brokerage revenues |  | 485 |  |  | 149 |  |  | 1 |  |  | — |  |  | (6) |  |  | 629 |
Account and service fees: |  |  |  |  |  |  |  |  |  |  |  |
Mutual fund and other investment products |  | 149 |  |  | 1 |  |  | 3 |  |  | — |  |  | — |  |  | 153 |
RJBDP fees |  | 283 |  |  | 2 |  |  | — |  |  | — |  |  | (187) |  |  | 98 |
Client account and other fees |  | 78 |  |  | 2 |  |  | 3 |  |  | — |  |  | (18) |  |  | 65 |
Total account and service fees |  | 510 |  |  | 5 |  |  | 6 |  |  | — |  |  | (205) |  |  | 316 |
Investment banking: |  |  |  |  |  |  |  |  |  |  |  |
Merger & acquisition and advisory |  | — |  |  | 150 |  |  | — |  |  | — |  |  | (3) |  |  | 147 |
Equity underwriting |  | 9 |  |  | 50 |  |  | — |  |  | — |  |  | — |  |  | 59 |
Debt underwriting |  | — |  |  | 85 |  |  | — |  |  | — |  |  | — |  |  | 85 |
Total investment banking |  | 9 |  |  | 285 |  |  | — |  |  | — |  |  | (3) |  |  | 291 |
Other: |  |  |  |  |  |  |  |  |  |  |  |
Affordable housing investments business revenues |  | — |  |  | 35 |  |  | — |  |  | — |  |  | — |  |  | 35 |
All other (1) |  | 8 |  |  | 1 |  |  | 1 |  |  | 16 |  |  | (4) |  |  | 22 |
Total other |  | 8 |  |  | 36 |  |  | 1 |  |  | 16 |  |  | (4) |  |  | 57 |
Total non-interest revenues |  | 2,746 |  |  | 475 |  |  | 360 |  |  | 16 |  |  | (229) |  |  | 3,368 |
Interest income (1) |  | 115 |  |  | 25 |  |  | 2 |  |  | 831 |  |  | 21 |  |  | 994 |
Total revenues |  | 2,861 |  |  | 500 |  |  | 362 |  |  | 847 |  |  | (208) |  |  | 4,362 |
Interest expense |  | (20) |  |  | (23) |  |  | — |  |  | (359) |  |  | (32) |  |  | (434) |
Net revenues |  | $ | 2,841 |  |  | $ | 477 |  |  | $ | 362 |  |  | $ | 488 |  |  | $ | (240) |  |  | $ | 3,928 |
(1)These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.
|  | Three months ended June 30, 2025
$ in millions |  | Private Client Group |  | Capital Markets |  | Asset Management |  | Bank |  | Other and intersegment eliminations |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Asset management and related administrative fees |  | $ | 1,462 |  |  | $ | — |  |  | $ | 280 |  |  | $ | — |  |  | $ | (9) |  |  | $ | 1,733 |
Brokerage revenues: |  |  |  |  |  |  |  |  |  |  |  |
Securities commissions: |  |  |  |  |  |  |  |  |  |  |  |
Mutual and other fund products |  | 146 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | 148 |
Insurance and annuity products |  | 129 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 129 |
Equities, ETFs and fixed income products |  | 115 |  |  | 41 |  |  | 1 |  |  | — |  |  | (3) |  |  | 154 |
Subtotal securities commissions |  | 390 |  |  | 42 |  |  | 2 |  |  | — |  |  | (3) |  |  | 431 |
Principal transactions (1) |  | 30 |  |  | 96 |  |  | — |  |  | 2 |  |  | — |  |  | 128 |
Total brokerage revenues |  | 420 |  |  | 138 |  |  | 2 |  |  | 2 |  |  | (3) |  |  | 559 |
Account and service fees: |  |  |  |  |  |  |  |  |  |  |  |
Mutual fund and other investment products |  | 126 |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 129 |
RJBDP fees |  | 303 |  |  | 2 |  |  | — |  |  | — |  |  | (195) |  |  | 110 |
Client account and other fees |  | 72 |  |  | 2 |  |  | 2 |  |  | — |  |  | (13) |  |  | 63 |
Total account and service fees |  | 501 |  |  | 4 |  |  | 5 |  |  | — |  |  | (208) |  |  | 302 |
Investment banking: |  |  |  |  |  |  |  |  |  |  |  |
Merger & acquisition and advisory |  | — |  |  | 105 |  |  | — |  |  | — |  |  | — |  |  | 105 |
Equity underwriting |  | 9 |  |  | 38 |  |  | — |  |  | — |  |  | — |  |  | 47 |
Debt underwriting |  | — |  |  | 60 |  |  | — |  |  | — |  |  | — |  |  | 60 |
Total investment banking |  | 9 |  |  | 203 |  |  | — |  |  | — |  |  | — |  |  | 212 |
Other: |  |  |  |  |  |  |  |  |  |  |  |
Affordable housing investments business revenues |  | — |  |  | 33 |  |  | — |  |  | — |  |  | — |  |  | 33 |
All other (1) |  | 5 |  |  | — |  |  | 1 |  |  | 16 |  |  | (9) |  |  | 13 |
Total other |  | 5 |  |  | 33 |  |  | 1 |  |  | 16 |  |  | (9) |  |  | 46 |
Total non-interest revenues |  | 2,397 |  |  | 378 |  |  | 288 |  |  | 18 |  |  | (229) |  |  | 2,852 |
Interest income (1) |  | 114 |  |  | 27 |  |  | 3 |  |  | 823 |  |  | 23 |  |  | 990 |
Total revenues |  | 2,511 |  |  | 405 |  |  | 291 |  |  | 841 |  |  | (206) |  |  | 3,842 |
Interest expense |  | (23) |  |  | (24) |  |  | — |  |  | (383) |  |  | (14) |  |  | (444) |
Net revenues |  | $ | 2,488 |  |  | $ | 381 |  |  | $ | 291 |  |  | $ | 458 |  |  | $ | (220) |  |  | $ | 3,398 |
(1) These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.
|  | Nine months ended June 30, 2026
$ in millions |  | Private Client Group |  | Capital Markets |  | Asset Management |  | Bank |  | Other and intersegment eliminations |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Asset management and related administrative fees |  | $ | 5,138 |  |  | $ | 1 |  |  | $ | 983 |  |  | $ | — |  |  | $ | (32) |  |  | $ | 6,090 |
Brokerage revenues: |  |  |  |  |  |  |  |  |  |  |  |
Securities commissions: |  |  |  |  |  |  |  |  |  |  |  |
Mutual and other fund products |  | 510 |  |  | 6 |  |  | 3 |  |  | — |  |  | (1) |  |  | 518 |
Insurance and annuity products |  | 406 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 406 |
Equities, ETFs and fixed income products |  | 440 |  |  | 144 |  |  | — |  |  | — |  |  | (12) |  |  | 572 |
Subtotal securities commissions |  | 1,356 |  |  | 150 |  |  | 3 |  |  | — |  |  | (13) |  |  | 1,496 |
Principal transactions (1) |  | 87 |  |  | 296 |  |  | — |  |  | 7 |  |  | (2) |  |  | 388 |
Total brokerage revenues |  | 1,443 |  |  | 446 |  |  | 3 |  |  | 7 |  |  | (15) |  |  | 1,884 |
Account and service fees: |  |  |  |  |  |  |  |  |  |  |  |
Mutual fund and other investment products |  | 443 |  |  | 2 |  |  | 11 |  |  | — |  |  | (2) |  |  | 454 |
RJBDP fees |  | 852 |  |  | 5 |  |  | — |  |  | — |  |  | (565) |  |  | 292 |
Client account and other fees |  | 223 |  |  | 6 |  |  | 8 |  |  | — |  |  | (48) |  |  | 189 |
Total account and service fees |  | 1,518 |  |  | 13 |  |  | 19 |  |  | — |  |  | (615) |  |  | 935 |
Investment banking: |  |  |  |  |  |  |  |  |  |  |  |
Merger & acquisition and advisory |  | — |  |  | 408 |  |  | — |  |  | — |  |  | (3) |  |  | 405 |
Equity underwriting |  | 24 |  |  | 137 |  |  | — |  |  | — |  |  | — |  |  | 161 |
Debt underwriting |  | — |  |  | 212 |  |  | — |  |  | — |  |  | — |  |  | 212 |
Total investment banking |  | 24 |  |  | 757 |  |  | — |  |  | — |  |  | (3) |  |  | 778 |
Other: |  |  |  |  |  |  |  |  |  |  |  |
Affordable housing investments business revenues |  | — |  |  | 94 |  |  | — |  |  | — |  |  | — |  |  | 94 |
All other (1) |  | 20 |  |  | 2 |  |  | 2 |  |  | 40 |  |  | (6) |  |  | 58 |
Total other |  | 20 |  |  | 96 |  |  | 2 |  |  | 40 |  |  | (6) |  |  | 152 |
Total non-interest revenues |  | 8,143 |  |  | 1,313 |  |  | 1,007 |  |  | 47 |  |  | (671) |  |  | 9,839 |
Interest income (1) |  | 336 |  |  | 80 |  |  | 8 |  |  | 2,464 |  |  | 73 |  |  | 2,961 |
Total revenues |  | 8,479 |  |  | 1,393 |  |  | 1,015 |  |  | 2,511 |  |  | (598) |  |  | 12,800 |
Interest expense |  | (60) |  |  | (72) |  |  | — |  |  | (1,050) |  |  | (96) |  |  | (1,278) |
Net revenues |  | $ | 8,419 |  |  | $ | 1,321 |  |  | $ | 1,015 |  |  | $ | 1,461 |  |  | $ | (694) |  |  | $ | 11,522 |
(1)These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.
|  | Nine months ended June 30, 2025
$ in millions |  | Private Client Group |  | Capital Markets |  | Asset Management |  | Bank |  | Other and intersegment eliminations |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Asset management and related administrative fees |  | $ | 4,395 |  |  | $ | 1 |  |  | $ | 840 |  |  | $ | — |  |  | $ | (35) |  |  | $ | 5,201 |
Brokerage revenues: |  |  |  |  |  |  |  |  |  |  |  |
Securities commissions: |  |  |  |  |  |  |  |  |  |  |  |
Mutual and other fund products |  | 450 |  |  | 5 |  |  | 3 |  |  | — |  |  | (1) |  |  | 457 |
Insurance and annuity products |  | 364 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 364 |
Equities, ETFs and fixed income products |  | 371 |  |  | 117 |  |  | 3 |  |  | — |  |  | (10) |  |  | 481 |
Subtotal securities commissions |  | 1,185 |  |  | 122 |  |  | 6 |  |  | — |  |  | (11) |  |  | 1,302 |
Principal transactions (1) |  | 87 |  |  | 303 |  |  | — |  |  | 6 |  |  | — |  |  | 396 |
Total brokerage revenues |  | 1,272 |  |  | 425 |  |  | 6 |  |  | 6 |  |  | (11) |  |  | 1,698 |
Account and service fees: |  |  |  |  |  |  |  |  |  |  |  |
Mutual fund and other investment products |  | 382 |  |  | — |  |  | 10 |  |  | — |  |  | (1) |  |  | 391 |
RJBDP fees |  | 947 |  |  | 5 |  |  | — |  |  | — |  |  | (568) |  |  | 384 |
Client account and other fees |  | 208 |  |  | 6 |  |  | 7 |  |  | — |  |  | (31) |  |  | 190 |
Total account and service fees |  | 1,537 |  |  | 11 |  |  | 17 |  |  | — |  |  | (600) |  |  | 965 |
Investment banking: |  |  |  |  |  |  |  |  |  |  |  |
Merger & acquisition and advisory |  | — |  |  | 460 |  |  | — |  |  | — |  |  | — |  |  | 460 |
Equity underwriting |  | 26 |  |  | 104 |  |  | — |  |  | — |  |  | — |  |  | 130 |
Debt underwriting |  | — |  |  | 163 |  |  | — |  |  | — |  |  | — |  |  | 163 |
Total investment banking |  | 26 |  |  | 727 |  |  | — |  |  | — |  |  | — |  |  | 753 |
Other: |  |  |  |  |  |  |  |  |  |  |  |
Affordable housing investments business revenues |  | — |  |  | 82 |  |  | — |  |  | — |  |  | — |  |  | 82 |
All other (1) |  | 16 |  |  | 1 |  |  | 1 |  |  | 38 |  |  | (13) |  |  | 43 |
Total other |  | 16 |  |  | 83 |  |  | 1 |  |  | 38 |  |  | (13) |  |  | 125 |
Total non-interest revenues |  | 7,246 |  |  | 1,247 |  |  | 864 |  |  | 44 |  |  | (659) |  |  | 8,742 |
Interest income (1) |  | 350 |  |  | 84 |  |  | 10 |  |  | 2,472 |  |  | 64 |  |  | 2,980 |
Total revenues |  | 7,596 |  |  | 1,331 |  |  | 874 |  |  | 2,516 |  |  | (595) |  |  | 11,722 |
Interest expense |  | (74) |  |  | (74) |  |  | — |  |  | (1,199) |  |  | (37) |  |  | (1,384) |
Net revenues |  | $ | 7,522 |  |  | $ | 1,257 |  |  | $ | 874 |  |  | $ | 1,317 |  |  | $ | (632) |  |  | $ | 10,338 |
(1)These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.

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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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